PI for real estate agents covers claims that a listing, appraisal or transaction error cost a buyer, seller or landlord money. Check whether your state or industry body sets a minimum.
Source: https://piinsurance.com.au/real-estate-agents/, fetched from the preview https://pi-react-4ee768.pages.dev/real-estate-agents/ on 10 Nov 2026; site dated 3 Nov 2026. Preview wording, not yet broker-reviewed. General information, not advice.
Site label: Check your state and industry body.
Why you need it: state rules and clients
Rules differ by state, and industry bodies may have their own membership rules. Check whether your state or professional body sets a minimum; we can confirm it for you. Buyers, sellers and landlords can also bring claims, which is why many agencies hold PI.
Typical limits
$1m to $2m for most agencies, more for large commercial sales.
What can go wrong
Illustrative scenarios, not real claims.
A misdescribed property
A listing says a granny flat is approved. It is not, and the buyer claims the cost of approval from the agency.
A deposit paid to a scammer
A buyer is emailed fake bank details that look like yours. They claim the lost deposit.
Common exclusions to watch
- Trust account shortfalls from dishonesty
- Cyber fraud unless covered or added
- Fines
- Strata management unless declared
Wording differs between policies. Read the policy wording, or ask us to point out what it says.
Types of real estate agents
Property managers
See the property managers page. Property managers.
Strata managers
See the strata managers page. Strata managers.
Buyers agents
See the buyers agents page. Buyers agents.
Auctioneers
Usually covered on the agency policy. Tell the insurer.
Common questions
Do real estate agents need professional indemnity insurance?
Rules differ by state, and industry bodies may have their own membership rules. Check whether your state or professional body sets a minimum; we can confirm it for you. Buyers, sellers and landlords can also bring claims, which is why many agencies hold PI.
How much PI cover do real estate agents need?
$1m to $2m for most agencies, more for large commercial sales.