You better hope and pray that your E&O or umbrella policy will cover it.

Costing you your commission or worse.

Consequence of being made fun of...which in some cases may lead to death, an extreme, but rare consequence.

Duh, having to pay to correct it and make it right.

Re-writing the contract, correcting your mistake.  Worst case it could cost you some $$ because why make the client pay for your mistake.

Possible consequences will be less than the probable consequences.  

Don't practice this business unless you have a qualified mentor to oversee your contracts until you don't need to ask those questions.  

I'm with Fred Griffin !

Lawsuit is a possibility; loss or reduction in commission.

I can only speak for my state.  Our state rules state our cannon of professional call for fidelity, integrity and competency.  A math mistake on an important contract or document would probably fall under competency.  With that being said the consequence could be anything from reprimand, fine, requirement to take additional education, temp suspension of license, revoke of license, or a combination of all of the above.

It could make your pockets or your pocketbook be turned inside out relatively quickly.

If it is not caught until the transaction is over, there could be a legal battle to get the money back if too much was given to the other party due to your mistkae. 

Costing you money

At the very least, the agent could have to pay the difference. The best thing to do is not make the mistake in the first place!

A big E & O claim.

Often getting fired from the brokerage being incompetent. 

You could be responsible for the damages.

He will have to correct it.

It depends what type of mistake and how big.  It could cost your commission, it could cost your client and it could be much much worse, esp if E&O insurance doesn't cover up.  Pending on the issue, I suppose it could be grounds for a lawsuit.

Brian Burkhalter A possible consequence is the buyer could sue you for the math error and you could end up paying for the mistake.

and in MA, especially with my team, every client has an attorney.... we check and double check, but the final burden is on the attorney....the attorney trumps the agent!!!

I am speechless, you check and double check and then check again.  A

Nothing comes to my mind.  Mistakes are given in life.  If we screw up we just need to unscrew and all will be well.  Tongue in cheek humor of course. When we screw up bad enough it could mean legal action is taken against us ... and E&O claim, which boils down to money and reputation - loss of both.

As Fred Griffin wrote

You will be held accountable for the mistake.

You may be forking over some serious money to mitigate the error.

Brian Burkhalter - most of the errors can be found out - however, it may cost you your own commission check...

I agree with Fred Griffin!

Troubles.  Mad client, loss of commission, lawesuit, contract falling through....What kind of math are you doing in the contract?  -Kasey

I use my Smart phone 

In reality, you do very little math with contracts and documents (except for your Commission Demand). The escrow company does the tough math stuff.  

You will forever wake up in the middle of the night to check and recheck.

he, or she, could be "wrong"?  But at least he'd be in good pgysical shape.

Some one has to fix it preferably during the oversight process.

If damage was the outcome, some one must make it right. Often that falls to an insurance company.

If irreversible damage is done. tell it to the judge.

If intentional damage was done, you could become clothed and fed by the taxpayer.

If you are not sure, ask your broker to check. In general, it is not that difficult. 

Working for free or paying to work can be costly!

The most common consequence is having to write a check.

Get an attorney asap

pretty hard to do

Debbie Reynolds nailed this one!

Emotionally and financially overdrawn.  

They may end up paying for the mistake out of their funds.

You hope the buyer and seller are reasonable. If not hope you have E and O. If it goes to court, the judge will want to see there was a meeting of the minds to agree on such price or amount, if not it may get thrown anyway

Firing, lawsuits.

lucky, we do not need to put in a payment anymore.