Being a real estate agent can sometimes lead to tricky situation. In fact it puts people into such a vulnerable position that it is not uncommon for them to be sued by angry and dissatisfied clients. While protecting yourself or your business under a professional liability insurance policy is always a wise idea, there are a few things that you can do to prevent—or at least alleviate—the risks of being sued.
Here are four little tips for you to go over:
- Have good relationships with your clients. The kinder you are to them, the less likely to be sued you will be. Also consider potential clients carefully. If a person has a history of going through several realtors in the past, this might be a red flag. Don’t work with difficult people and steer clear of anyone who brings up the possibility of suing you or having sued a realtor in the past.
- Document everything. From your email conversations to your meetings, document everything. Some people even go as far as recording conversations with a client. Remember that in the event of someone suing you, not documenting enough can prove to be your biggest downfall.
- Disclose, disclose and disclose. This might sound obvious to some, but the best way to anger someone is to hide something from them. In the real estate world, this has the potential to be incredibly costly. No matter how small you think a flaw is, always disclose it to a client.
- Don’t offer opinions. Doing this can put you in a very sticky situation down the road. When a client asks for your opinion, refer them to a source (either online or in real life) that could prove to be useful to them. Everything you say has the potential to be misunderstood, misconstrued and even twisted by clients—so choose your words carefully.
An choose your battles carefully as well. With proper judgement and enough knowledge, however, there should be no reason for you to enter a battle at all.