For 5-6% commission, sellers should be flat out indemnified by their agent’s insurance. However, they are not. Repeat, sellers are not covered or protected by the agency’s insurance. Also, no agent (actually, correct DRE term “salesperson” or “broker”), or his insurance company, will throw themselves on the sword for a client. The minute a lawsuit is filed, the ‘relationship’ will be over. What’s more, in an effort to show knowledge, the broker will be subpeoned for a depo by the buyer’s lawyer regarding what his client told him about the condition of the house. Who will he be looking out for first?
Again people, get a clue, agents/brokers are SALESPERSONS, they are not your lawyer and will not give you cover in a lawsuit. Their insurance will not protect you, and if things get at all ugly, they will instantly be your adversary.
Be smart, as a seller disclose all that should be disclosed, document everything, be skeptical of all you are told by everybody, ask lots of questions and play by the rules. Do this, and 99.9% of the time all will be fine, broker involved or not.
