Key Takeaways
- Commission disputes should be resolved using documented policies—ambiguity in policies creates recurring conflicts.
- Notify E&O insurance within 24 hours of any complaint involving potential financial harm—delay can void coverage.
- Documentation culture is the strongest legal protection—train agents to confirm all significant conversations in writing.
- Review E&O coverage annually and increase limits proportionally as agent count and transaction volume grow.
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Test Your Knowledge
1.What is the most common source of agent disputes within a brokerage?
2.What documentation should a brokerage maintain to protect against agent legal claims?
3.How should a broker handle a departing agent who attempts to take client lists or proprietary data?