Are Drones Coming to Real Estate Practices?

Posted on: September 23, 2015 by Newmark Insurance

Last week, the National Association of Realtors (NAR) requested permission to use drones in their real estate practices. While this has been a long standing debate, Capitol Hill is now accepting waivers for those companies that wish to use drones in their business ventures. While details of this policy become available, ensure your agents are equipped with Real Estate Professional Liability insurance to protect them during a time of potential transition.

In its proposal, the National Association of Realtors stated the following: “Commercial use of UAVs [unmanned aerial vehicles] has the potential to create new jobs and businesses specializing in their uses. NAR and its members are excited about these possibilities but also understand the need to balance them with protecting the privacy and safety of citizens and other users of the country’s national airspace. As end-users of drone technology, REALTORS® want clear regulation that permits the commercial application of UAVs in a way that is affordable to users and safe for their communities, both on the ground and in the air.”

This argument has worked in favor of an Arizona Realtor earlier this year when the Federal Aviation Administration granted the use of a UAV for commercial real estate use, according to National Realty News. In its defense, Tim Blair of Birmingham’s Shannon Waltchack stated “The responsible use of this technology will absolutely help commercial realtors in the marketing and sales of commercial real estate in Birmingham. It will allow new angles and perspectives to be used in property evaluation that simply cannot be reproduced in another manner.”

However, safety is critical while operating these drones. The push for the responsible use of drones has caused over 1,300 waivers to be signed to petition the law to permit them. While some realtors have been granted the permission, the FAA is still working on finalizing the guidelines for proper use and restrictions of UAVs.

While this may seem like a perfect solution for realtors, not everyone is enthused about the use of commercial drones. For example, some local residents are concerned their privacy will be compromised and the noise will be bothersome. As Google Earth and other similar programs can provide similar detailed information and aerial shots of properties, protestors question the necessity for these devices altogether.

At NewMark Insurance Services, we are dedicated to providing coverage for the real estate sector. Our comprehensive programs provide modern and broad coverages from professional liability protection to workers’ compensation benefits. To learn more about properly securing your business, contact us today at (855) 777-6549.

Posted in: blog Professional Liability Real Estate Liability