Marc W. Brown, a partner in Goldberg Segalla’s Professional Liability Practice Group, was a guest on You and the Law, a WBFO 88.7 radio program on legal issues presented by the Bar Association of Erie County.
Marc discussed a number of reasons real estate agents and brokers, not just the buyers and sellers of properties, should have legal counsel as well as errors and omissions (E&O) insurance coverage.
“It’s imperative in today’s society to have insurance coverage for an agent, a broker, or whatever the case may be,” Marc told WBFO. Marc noted it comes down to due diligence, and whether that agent or broker properly disclosed any known aspects of the condition of the property, particularly in cases where they go above and beyond the normal actions taken during a transaction. If they don’t have insurance, Marc said, they can expose themselves to significant liability.