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If you might need to prove it in the future, confirm it in writing today.
Send your clients copies of all significant documents you send to the insurance company.
Never give your client the impression that coverage is in effect unless and until the coverage is actually in effect.
Never assume anything. Check the client file before providing coverage information to your client.
Never sign anyone else's name to a document. If you must sign on their behalf, sign your own name and indicate that you are signing as their agent -- and only if you have that person's specific authorization, in writing.
Never compromise your own integrity.
Don't attempt to handle matters that are beyond your expertise.
Don't accept business from an outside producer unless you are willing to be responsible for all errors or omissions committed by that producer.
Promptly return phone calls.
Be professional in every facet of your insurance business.
If there is any doubt about a condition affecting or related to a property or the transaction, even a condition which apparently has been remedied, err on the side of full disclosure, with your client's informed consent.
Every important disclosure or event should be confirmed in writing to all affected parties.
Read all contracts, title commitments, inspection reports, closing documents, disclosures, MLS information and other materials carefully.
Never sign anyone else's name to a document. If you must sign on their behalf, sign your own name and indicate that you are signing as their agent -- and only if you have that person's specific authorization, in writing.
Identify the source of all information you provide to other persons. Unless you have verified the facts personally, indicate clearly that you are merely forwarding information which was given to you and that you have not undertaken any independent verification.
Never forget which party or parties you represent in the transaction.
Never assume duties you do not intend to fulfill completely, or which are beyond your expertise.
Trust your instincts. If you have a bad feeling about a transaction, decline to become involved. If you are already involved, withdraw as soon as reasonably possible.
Promptly return phone calls. If you find yourself hesitating to do so, refer to #8.
Be professional in every facet of your real estate business. A thorough, well documented file is always your best protection against an E&O claim.DISCLAIMER: All information provided in this web site is informational only and does not constitute an offer or agreement on our part to enter into an attorney/client relationship with any person. If any person desires legal advice from Balaban & Levinson, P.C., it is first necessary to establish an attorney/client relationship with us in writing pursuant to our standard written fee agreement. We are not licensed to practice law outside of the State of Colorado. For issues involving the laws of other jurisdictions, consult with an attorney licensed in that jurisdiction.
Copyright © 2000 by Balaban & Levinson, P.C.
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