TRAINING: Agent-Owned Property (Selling Own Home)

Since you are the owner and agent on this property, you have a heightened duty of disclosure. Not only do you have your typical agent duty to conduct a "reasonably diligent and competent visual inspection of the property" and disclose all relevant information to the buyer, you also have a duty to disclose the property's historical information as a seller. 

While this may seem onerous, this should be done to properly protect you and United Real Estate as there are many lawsuits arising from agents selling their own house.  Remember that E&O requirements are mandatory and you will need to satisfy each requirement prior to the removal of the buyer's contingencies in any transaction.

Mandatory Requirements:

If you represent yourself in the sale of any property, our E&O Insurance policy will provide coverage for disputes arising from the your breach of your duties as a real estate agent, not as a seller, only if the following conditions exist:

  1. Owned the property for more than 365 days
  2. Use CAR sales agreement
  3. Disclose in the MLS that you have an ownership interest in the property
  4. Timely completion & delivery of TDS and SPQ to Buyer
  5. Home inspection report obtained by a third-part inspector accredited by a recognized state or regional home inspection association who has an E&O policy with a minimum per claim limit of $1,000,000
  6. Home warranty policy purchased by Buyer
  7. NHD report from an accredited property disclosure firm who has an E&O policy with a minimum per claim limit of $1,000,000.


  • Compile a room-by-room list of all repairs, improvements, changes, etc. you have made to the property and attach it to your TDS and SPQ. 
  • Provide the potential buyer with any receipts, invoices, quotes, etc. that you have received relating to the property. 
  • Upon receipt of an offer, issue a counter offer to the buyer with a requirement that they use a home inspector who meets the aforementioned requirements. 
  • Consult with our TC Team to determine which NHD companies meet the above requirements and include the company in the counter offer as well.
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