Industry News

Real estate agents, brokers escape liability in lawsuits

Realtor trade group releases results of legal report

Real estate disputes that lead to lawsuits most commonly involve property management issues such as debt collection, liability for tenant's property condition, liability for the condition of a common area, liability for crimes occurring on leased property, and fair-housing claims, the National Association of Realtors announced today. The Realtor trade group released the findings of a legal report, prepared by Legal Research Center Inc., to its members at the Realtor.org Web site. This "2005 Legal Scan" tracks historical data regarding more than 90 different legal liability issues faced by real estate professionals. The report uses this data, along with surveys of selected industry leaders, to predict what issues NAR members will likely face in the future. "NAR's Legal Scan is our crystal ball to a better understanding of the key legal issues and trends affecting the U.S. real estate marketplace," said Laurie Janik, NAR general counsel, in a statement. "The 2005 Legal Scan provides NA...

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