Do you pay your own E&O insurance, or does your broker pay?

Question

Answers Subscribe to Answers

Sort

Rainmaker
2,784,116

Richie Alan Naggar

people first...then business Ran Right Realty - Riverside, CA

agent & author

My son the attorney says...dad, dont pay this anymore. I got you covered

Nov 17, 2015 10:56 PM

Upvote

4

Debbie Laity

Cedaredge, CO
Richie Alan Naggar

Riverside, CA
John McCormack, CRS

Albuquerque, NM
Michael Jacobs

Pasadena, CA

Rainmaker
4,580,874

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

I pay on a yearly basis and it's expensive in our area. With my current brokerage we are required to use their provider.

Nov 17, 2015 11:53 PM

Upvote

2

Joan Cox

Denver, CO
John McCormack, CRS

Albuquerque, NM

Rainmaker
1,663,836

John McCormack, CRS

Albuquerque Homes Realty - Albuquerque, NM

Honesty, Integrity, Results, Experienced. HIRE Me!

I've always paid my own.

Nov 17, 2015 11:00 PM

Upvote

2

John McCormack, CRS

Albuquerque, NM
Michael Jacobs

Pasadena, CA

Rainmaker
1,241,504

Sam Shueh

(408) 425-1601 - San Jose, CA

mba, cdpe, reopro, pe

It is coming out agents, broker associates pocket often more than what the owner pays.

Nov 17, 2015 10:54 PM

Upvote

2

Sam Shueh

San Jose, CA
Michael Jacobs

Pasadena, CA

Ambassador
3,167,239

Tammy Lankford,

Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA

Broker GA Lake Sinclair/Eatonton/Milledgeville

I'm a broker and I pay it for all my agents.

Nov 18, 2015 01:37 PM

Upvote

1

Suma sridhar

Alviso, CA

Rainer
67,369

Evelyn M Epperson

Coldwell Banker Residential Brokerage - Johns Creek, GA

A Tradition Of [Excellence, Trust & Service]

I really do not like Anonymous questions. My brokerage pays my E&O

Nov 18, 2015 06:38 AM

Upvote

1

Suma sridhar

Alviso, CA

Rainmaker
5,876,323

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

I am the broker, yes I pay.

Nov 17, 2015 11:01 PM

Upvote

1

Michael Jacobs

Pasadena, CA

Rainmaker
7,860,241

Roy Kelley

Retired - Gaithersburg, MD

Agents in our RE/MAX office pay for their own E&O insurance.

Nov 17, 2015 10:49 PM

Upvote

1

Michael Jacobs

Pasadena, CA

Rainmaker
2,071,025

Evelina Tsigelnitskaya

SIB Realty - Sunny Isles Beach, FL

No idea.

Jun 16, 2019 08:00 AM

Upvote

Rainmaker
1,598,452

Valeria Mola

SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL

305-607-0709 SIB Realty Condos for Sale and Rent

What the answers!

Jun 16, 2019 07:54 AM

Upvote

Ambassador
6,413,611

Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

I pay the brokerage, they pay the insurance.

Feb 10, 2019 11:10 PM

Upvote

Rainmaker
4,319,773

Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

We pay from our own E&O for each transaction - through broker negotiated price.

Nov 20, 2015 02:52 PM

Upvote

Rainmaker
1,505,503

Ryan Huggins - Thousand Oaks, CA

https://HugginsHomes.com - Thousand Oaks, CA

Residential Real Estate and Investment Properties

Look at CRES E&O, they are a "by the deal" provider. If your seller buys a CRES homeowners insurance policy, they waive the E&O fee on your transaction. The two main providers of home warranty/insurance plans out here both have CRES plans.

Nov 19, 2015 08:10 AM

Upvote

Rainer
2,815

Sarah D'Hondt

Brookview Realty - Rochester, MI

Super Realtor

Both, technically :) My broker is billed and pays it - and then I need to reimburse him. He usually takes it from my next check so I'm not having to pay out of pocket.

Nov 19, 2015 03:39 AM

Upvote

Rainer
1,415

Rob Williams

Highgarden Real Estate - Raleigh, NC

Our firm covers our E&O

Nov 18, 2015 11:01 PM

Upvote

Rainmaker
5,235,760

Wayne Martin

Wayne M Martin - Chicago, IL

Real Estate Broker - Retired

Most agencies require the agent to pay! Seldom, unless new construction, does the broker pay!

Nov 18, 2015 08:25 PM

Upvote

Rainer
321,564

Melissa Jackson REALTOR

Trinity Premier Properties - Azle, TX

Helping You Make The Right Move

E&O is paid out of my commission with each transaction.

Nov 18, 2015 01:10 PM

Upvote

Rainmaker
901,828

Olga Simoncelli

Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT

CONSULTANT, Real Estate Services & Risk Management

Now pay my own as broker; when was agent it varied.

Nov 18, 2015 11:43 AM

Upvote

Rainmaker
1,683,912

Larry Johnston

Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN

Broker,Friends & Neighbors Real Estate, Elkhart,IN

The Broker has a blanket policy they pay for, but we pay the broker individually.

Nov 18, 2015 11:08 AM

Upvote

Rainmaker
2,224,473

Debbie Laity

Cedaredge Land Company - Cedaredge, CO

Your Real Estate Resource for Delta County, CO

My office has a blanket policy, but I pay for my individual policy.

Nov 18, 2015 07:12 AM

Upvote

Rainmaker
940,437

Bruce Walter

Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Our Keller Williams office has been charged $10,000 per year by the E &O provider the past several years, and they charge agents $240 a year to recoup the expenses. With the number of agents this year our Keller Williams office will have a surplus probably in excess of $7,000. Time to lower the monthly fee????

Nov 18, 2015 05:03 AM

Upvote

Rainmaker
4,800,132

Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

The broker pays.

Nov 18, 2015 04:06 AM

Upvote

Rainmaker
2,486,205

Captain Wayne - Rowlett Real Estate School

Rowlett Real Estate School - Panama City, FL

Rowlett Real Estate School / Owner and Instructor

We have E&O insurance for the brokerage.

Nov 18, 2015 02:23 AM

Upvote

Rainmaker
1,386,031

Joyce Marsh

Joyce Marsh Real Estate LLC - Daytona Beach, FL

Joyce Marsh Homes

We are charged on a yearly basis

Nov 18, 2015 01:55 AM

Upvote

Rainmaker
617,935

David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation

Colorado Real Estate Advisers LLC - Colorado Springs, CO

Relocation, Luxury & Lifestyle residential

As the broker I pay my own and my broker associates pay for their own.

Nov 18, 2015 12:38 AM

Upvote

Rainmaker
1,624,653

Inna Ivchenko

Barcode Properties - Encino, CA

Realtor® • GRI • HAFA • PSC Calabasas CA

Currently, it is my broker. But in all other companies I worked in, the agent has to pay a broker selected provider ( upfront, or monthly, or from each transaction).

Nov 18, 2015 12:31 AM

Upvote

Rainmaker
518,297

Brenda J. Andrew

ULTIMA REAL ESTATE - Willis, TX

Professional Realtor in Conroe/Willis, TX

Our broker pays the overall policy, but charges us on each transaction.

Nov 18, 2015 12:28 AM

Upvote

Rainmaker
4,898,253

Richard Weeks

Dallas, TX

REALTOR®, Broker

We pay a small amount per transaction.

Nov 17, 2015 11:01 PM

Upvote

Back to Top

My son the attorney says...dad, dont pay this anymore. I got you covered
I pay on a yearly basis and it's expensive in our area. With my current brokerage we are required to use their provider.
It is coming out agents, broker associates pocket often more than what the owner pays.
I really do not like Anonymous questions. My brokerage pays my E&O
Agents in our RE/MAX office pay for their own E&O insurance.
We pay from our own E&O for each transaction - through broker negotiated price.
Look at CRES E&O, they are a "by the deal" provider. If your seller buys a CRES homeowners insurance policy, they waive the E&O fee on your transaction. The two main providers of home warranty/insurance plans out here both have CRES plans.
Both, technically :) My broker is billed and pays it - and then I need to reimburse him. He usually takes it from my next check so I'm not having to pay out of pocket.
Most agencies require the agent to pay! Seldom, unless new construction, does the broker pay!
The Broker has a blanket policy they pay for, but we pay the broker individually.
My office has a blanket policy, but I pay for my individual policy.
Our Keller Williams office has been charged $10,000 per year by the E &O provider the past several years, and they charge agents $240 a year to recoup the expenses. With the number of agents this year our Keller Williams office will have a surplus probably in excess of $7,000. Time to lower the monthly fee????
As the broker I pay my own and my broker associates pay for their own.
Currently, it is my broker. But in all other companies I worked in, the agent has to pay a broker selected provider ( upfront, or monthly, or from each transaction).
Our broker pays the overall policy, but charges us on each transaction.