Breach of duty
This is one of the most common demands against Real Estate Agents, as they are subject to a very high standard with respect to representing the interests of their clients. If you do not keep your client informed of the relevant events in your transaction, or do not comply with the terms established in the contract, you may be found liable for the breach of your contractual obligations. That is why you must be incredibly thorough with every aspect of the transaction, from documenting each correspondence with each of the parties and working diligently to ensure that the contract terms are met.
Give Legal Advice
Non-lawyers are prohibited from giving legal advice, although that does not prevent many well-meaning real estate professionals from addressing the legal concerns of their clients instead of a legal expert. No matter how good your motives are, if you provide legal advice and your client acts to your detriment, you will be responsible.
Failure to take precautions
As a real estate professional, you are not only responsible for meeting your clients’ real estate goals, but you must also protect them from various responsibilities. Real estate agents who do not take the necessary precautions to safeguard their clients, such as not protecting a customer’s data, not recommending inspections, or neglecting safety precautions during an exposure, will be exposed to a lawsuit.