Hi All,

I will be opening Real Estate office in California very soon. I have already started looking for people to recruit. What are some important things I should be looking out for? It will be a 5 man shop for now. What is a good E&O ins company? Workers Comp? What are good lead sources?

Thanks for all the help. Lets make money!

When you are starting out, CRES is a good choice. They charge by the deal, so about $100 bucks a pop with $1million/$1million coverage. Just signed up my brand new brokerage with them.

R

cres is NEVER a good choice. ever try submitting a claim with cres? 100 bucks a pop is extremely expensive for E&O

It is about options. I would LOVE to hear another suggestion for a provider who gives the per transaction option in CA.

If you have low volume, your going to end up spending WAY more for flat coverage.

I have talked with a number of local folks who use CRES who have had claims, and have not heard any complaints.

If you could give a little more specifics and options, we would all benefit.

R

Just to open this topic up a bit, here are some providers who indicate they do business in CA:

- www.axisins.com (Not geared toward small offices)
- Landy.com
- pearlinsurance.com

I have gotten lots of quotes. The only company I found that offered per-transaction coverage was CRES. Many E&O providers will not even talk to you till your making over 250-300k a year (Like Axis listed above).

Those that do work with smaller offices have given me quotes that come down to about $140 a month (1million, 5k deductable) to $160 per month (1 million, 2.5k deductable).

Insurance in other states is as much as half what it is in California. I have talked to agents in Texas and Florida that pay under $100 for similar coverage.



R

Do not plan your business around your first year's E&O premium. They will most likely go up after that, especially if you get involved in any litigation.