Tried and Tired Clichés You Can Avoid with the Help of Professional Insurance
What does it mean to be a professional?
In the real estate industry, it means having the standard level of skill, training and competency that allows you view the market with a critical eye and determine what each client needs to gain returns on their investment.
It means being highly attentive to details and having the ability make smart decisions based on stock knowledge and the state of the current situation. It means being a good communicator and a sharp negotiator. It means finding the balance between salesmanship and straightforward counseling.
It means all these and more, especially that the highly competitive field expects everyone to be always on their toes.
In the cutthroat environment of real estate, being less than perfect can be harmful, even costly to your reputation and your bank account. A single mistake or a slight oversight can have a huge impact on a potential investment.
The pain point is you’re dealing with other people’s money. And when that money faces unexpected risks, expect reactions to be no less than dramatic — thanks to the highly unstable economy, plus the fact that home buying/selling tend to be one of the most emotional investments most people make.
According to Eagle Insurance Brokers, a real estate agents’ insurance won’t save you from committing mistakes or the consequences of committing them. What it can do, is to cushion the blow. And protect you from the following clichés that only add insult, so to speak, to the injury:
Time heals all wounds. When the wound has a dollar amount equivalent, it won’t heal on its own. Professional indemnity shields your assets so you can make the necessary steps to cover for damages without risking financial downfall.
To err is human. The claimant may be able to forgive you for your (real and perceived) errors, but their charitable feelings won’t pay for your legal fees. Aside from making sure damages are awarded to the claimant within maximum limits, the insurance can also provide added financial security for your legal costs.
Nobody’s perfect. This statement may comfort most people, but not real estate agents. The gnawing thought that that it’s possible for you to commit professional mistakes, even with top-notch training and the best intentions, can keep you up all night. With professional indemnity, the worries won’t be so weighty. You’ll enjoy peace of mind from knowing that in case the unexpected happens, you have backup to rely on.
As the trusted insurance brokers at Eagle Insurance like to say, “A good policy is like a good game plan” and “The last line of defense has to be your best.” Now those are the kind of clichés you would want to live by.