Until recent times it was easy to set up an estate agency as no experience, training or qualifications were required. However, they are becoming more and more professionally regulated as a business.

Those professionally qualified agencies should be covered by indemnity insurance that is arranged either on a voluntary basis or if required by their membership of the professional body. Claims for eatate agents negligence can be made against this policy.

Where does the professional negligence come in? Potential loss might be:

Failure to manage the sale process appropriately

Valuation errors (see valuers)

Errors or ommissions in representations made by them to third parties