What to do in the Event of a Legal Claim or Demand?

What to do in the Event of a Legal Claim or Demand?

1. DON’T PANIC!!!! Many of the claims made against agents and brokers are frivolous and will go away with a proper response from our legal experts. It is important to remember that claims don’t always mean a lawsuit served on you. A Claim may be a demand letter from an unhappy Buyer or Seller.

2. If you receive a summons and complaint, demand for mediation, demand for arbitration or a letter from an attorney, call the broker immediately at 310-856-9153.

3. You will be instructed on what to do next. You can expect to be required to make copies of the document(s) you received or were served on you. You will also be informed that you may need to make copies of your entire transaction file that relates to the claim.

4. At some point you may be required to prepare a narrative of what really happened in the transaction. You should begin by reviewing your notes concerning the transaction and the documents contained in your file.

Things You Should NOT do! 

1. Although the claim may appear frivolous to you, do not make that determination.Send the claim to the Broker. Our Risk Management Division and the attorneys assigned by the insurance company are better trained to determine if the claim has merit or not.

2. Do not talk to any one besides the Broker, or our Risk Management Attorneys, about the facts of the transaction or the claim. Such statements may become an admission against you.

3. Though you may have a personal attorney or belong to some pre-paid legal plan, all claims made against you must be reported to the Broker in order to comply with company policy and CAL BRE regulations. Reporting the claim to your personal attorney or a pre-paid legal service will not comply with company policy or CAL BRE regulations. 

• Admin on August 1, 2018 @ 23:46:05

This post was created by Admin on August 1, 2018.