Risk management advice for agents

Agents are exposed to growing risks of legal claims as the number of responsibilities they face increase, and often without clear guidelines from government.

In a bid to reduce these claims, REINSW-owned professional indemnity insurer Realcover has developed a booklet offering detailed advice and tips for property managers and sales agents.

Download the guide here.

Here are just a few of the tips on how to avoid claims:

Tips for property managers
  • Follow up on all requests for maintenance. Pass this on to the owner and recommend the use of experts for suspect structural areas
  • Complete paperwork and documentation is the key for a successful defence in any court proceedings - so make sure it is in writing or detailed file notes are kept.

The advice booklet includes more in-depth advice on claim examples around balcony and railings, windows and locks, and slips and falls.
 

It also has an example of wording which Property Managers can attach to their inspection report.

Tips for sales agents
  • Ensure you have a valid Sales Agreement and a complete contract before any marketing of the property is commenced
  • Do not make statements about the property that cannot be independently verified.

Read the booklet to find out how to avoid claims in relation to misleading and deceptive conduct from incorrect advertising of land size and properties for sale.