liability risk when doing for sale by owner

[Martin Z.]

I might be selling my small property soon, i know how to market and sell property.  I'm only concerned about post escrow closing liability. I understand brokers maintain some type of liability insurance for their sales. Just 1 example, I've read an article a while back on how the buyer of a property sued the broker for misrepresenting square footage of the property after close of escrow. 

Is stuff like this common?