Industry News

RELAY users get insurance break

Agents using online transaction system get half off E&O deductibles

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Users of the RELAY online real estate transaction management tool will receive a 50 percent reduction in the deductible amount on the California Association of Realtors' endorsed errors and omission insurance program, the association announced this week. "Realtors and brokers using RELAY online transaction management already reduce their risk through its automatic history and notes functionalities, and through an enhanced ability to track transaction progress and completion," said Bob Kulick, Real Estate Business Technologies LLC chairman of the board. "Now, if an errors and omission claim is filed involving a transaction where RELAY was utilized, Realtors under the E&O program endorsed by C.A.R., insured by AIG and brokered by Linsin, Sherman Associates can save 50 percent off the deductible." RELAY features one-click integration with electronic forms software, enabling users to move both the transaction data and the completed form -- purchase agreements and disclosure document...