pbigroupsolutions.com Open in urlscan Pro
2606:4700:3031::6815:5e2b  Public Scan

Form analysis
1 forms found in the DOM

GET https://pbigroupsolutions.com/

<form method="get" id="searchform" action="https://pbigroupsolutions.com/">
  <input type="search" class="search-field form-control" placeholder="Search …" value="" name="s" title="Search for:">
</form>

Text Content

 * 
 * 
 * 

 * Client Portal
 *   1405 S Fern St #96426 Arlington, VA 22202

 *  
   
   (443) 502-5645

 *  
   sales@pbigroupsolutions.com

Menu
 * Solutions
 * Why PBI Group?
 * Coverage Insights
 * Testimonials
 * GET STARTED TODAY!

Menu
 * Solutions
 * Why PBI Group?
 * Coverage Insights
 * Testimonials
 * GET STARTED TODAY!




REAL ESTATE E&O CLAIMS SPOTLIGHT: LOST, STOLEN, OR DAMAGED ITEMS

Home » Errors and Omissions » Real Estate E&O Claims Spotlight: Lost, Stolen, or
Damaged Items


REAL ESTATE E&O CLAIMS SPOTLIGHT: LOST, STOLEN, OR DAMAGED ITEMS

Errors and Omissions

It’s not uncommon for the owner of a property to not be around when their home
is shown to potential buyers. Under the supervision of a real estate agent (or
several), potential buyers can look around the home and get a good feel for the
floor plan, and the agent will be there to answer any questions about the
property.

Many property owners choose to put away personal items for open houses and home
viewings. However, even with precautions in place, opening a home to the public
does have its risks, and it is also not uncommon for personal items to disappear
during or after viewings. Some of the most commonly taken items include jewelry,
prescription medications, small electronics, decorative pieces, designer
accessories, and money.

We recently saw a claim in which many valuable personal items disappeared after
a showing took place at a property. Let’s take a look at the claim, and what
real estate agents should know about their liability in these situations.

The Claim, Explained

On May 3, 2019, a showing took place at the Seller’s home (“The Property”), in
which both the Listing Agent and the Buyer’s Agent showed it to the Client.
After the showing, the Seller noticed that several of his personal items had
gone missing, with a combined value of over $10,000.

The Seller filed a report with his county’s police department, and requested
that they pull the street video to see if anyone other than the Listing Agent
and the Potential Buyer were present at the Property that day. The Seller did
have video cameras in his home, but his surveillance was not able to turn up any
footage of the items being taken or any evidence other than still images that
established the presence of the Listing Agent and the Potential Buyer in his
home on that date. The Seller did not have receipts for his missing items, but
did have boxes for the majority of them.

No conclusion has been formed about the objects’ whereabouts; it is unclear
whether they were taken by the agents, the potential buyers, or if there is
another, alternate explanation. However, regardless of what happened, the
objects did disappear and the Seller did file an E&O claim against the Firm
involved, along with a police report.

Key Takeaways from this Claim

It goes without saying that agents should not take sellers’ personal belongings
during showings. However, it is important to understand that agents are liable
for any lost or damaged property during showings. It does not matter how it
happened. Even if the agent is in no way personally responsible, they will be
held liable in the claims process.

At the end of the day, potential buyers are free to roam throughout the property
during their showing, to get a feel for the floor plan and to take a closer look
at the features that have interested them. No real estate agent should have to
closely tail their clients; this is only likely to create an unpleasant
experience for the potential buyers. However, there is a middle ground between
watching buyers like a hawk and leaving them completely free to their own
devices. It is important for agents to be aware of who is in the home with them
and what they are doing, and to keep a lookout for what is happening. Odds are,
the buyers are just taking a second look around, but if something does go
missing, the agent is the one who will be liable. If this happens during one of
your showings, talk to a lawyer and your insurance agent.

If a property is damaged during a showing, this would be considered an E&O
“lockbox” claim. Keep in mind that not every errors & omissions policy contains
this language, so this is not a guaranteed coverage. Check your policy
carefully; don’t just assume you will be covered.

Interested in PBI Group generating an E&O insurance quote for your real estate
agency? Click here.


CATEGORIES

 * Cyber Liability
 * Errors and Omissions


BLOG POSTS

 * REAL ESTATE E&O CLAIMS SPOTLIGHT: DEED FRAUD
   
   June 1, 2023
   
   

 * REAL ESTATE E&O CLAIMS SPOTLIGHT: GET YOUR STUFF OUT OF MY HOUSE!
   
   May 2, 2023
   
   

 * ARE “FREE EMAIL ADDRESSES” SUCH AS GMAIL OR YAHOO COVERED UNDER MY CYBER
   INSURANCE POLICY?
   
   April 6, 2023
   
   

 * ENDPOINT DETECTION AND RESPONSE (EDR)
   
   March 21, 2023
   
   


TAGS

Best Practices Broker Owner Claims Scenarios Contact Us Cyber Event Disturbing
Statistic File a Claim Funny Get an E&O Quote Get Quote Home Page How to How to
Avoid a Lawsuit Policy Coverage Real Estate Agents Solar Spam Email Video What
is...


PBI GROUP

1405 S Fern St #96426
Arlington, VA 22202


OFFICE

443-502-5645 (office)
888-600-4130 (fax)



EMAIL

sales@pbigroupsolutions.com




REAL ESTATE INSURANCE IN YOUR STATE

The PBI Group is well known by real estate professionals across the U.S. Learn
how the local rules may be different and how we can help. Or learn more about
our 3 coverage areas:

 * Errors and Omissions Insurance for Real Estate
 * Cyber Liability Insurance for Real Estate
 * General Liability Insurance for Real Estate

Alabama, Alaska, Arizona, Arkansas, Colorado, Connecticut, Delaware, Florida,
Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana,
Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri,
Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York,
North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode
Island, South Carolina, South Dakota, Tennessee,Texas, Utah, Vermont, Virginia,
Washington, Washington Dc, West Virginia, Wisconsin, Wyoming


STAY CONNECTED

 * 
 * 
 * 

Copyright © 2023 PBI Group Inc. All Rights Reserved.

 * Contact Us




Notifications