What Is the Difference Between a Real Estate Broker and a Real Estate Attorney?
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Real Estate Brokers
Many first-time homeowners hire experienced real estate agents to help them navigate the complex real estate market. Others prefer hiring a real estate attorney.
Both real estate agents and lawyers play an essential role in the home-buying process. Understanding the key differences between the two real estate players can help you choose an excellent real estate partner.
What Is a Real Estate Professional?
A real estate professional is an agent who represents a buyer or seller in a real estate transaction.
What Is a Real Estate Broker?
A real estate broker is merely an agent who has completed further training and acquired a broker license.
The license allows brokers to operate independently, open their own brokerage, and recruit other real estate agents. Overall, real estate brokers and agents perform many of the same tasks.
What Does a Real Estate Agent Do?
Real estate professionals support their clients, assist them with making informed decisions, and have a fair understanding of real estate law and transactions.
However, real estate lawyers have more knowledge of real estate laws and are properly licensed to handle real estate transactions.
Real Estate Attorneys
A real estate lawyer might serve in various roles when buying or selling a home. Their main job is to ensure that the purchase contract is accurate, your interests are fulfilled, and your rights are preserved.
What Is a Real Estate Attorney?
A qualified real estate attorney is someone who has is licensed to practice real estate law. Their knowledge and experience can advise parties involved in real estate transactions, like a home sale or short sale.
A real estate attorney specializes in the legal aspects of purchasing and selling property, including wills or trusts, disputes, and more.
Only a real estate lawyer is authorized to prepare the property purchase agreements, undertake the title search, and complete the purchase in many states.
Real Estate Agent vs. Real Estate Attorney
On the other hand:
- A real estate agent earns a minimum of 6% of the closing value.
- Only a lawyer can handle listing agreements, sale or purchase agreements, offers, counteroffers, financing, mortgages, easements, disclaimers, title insurance, etc.
- Closings can’t be done without a real estate lawyer because a closing lawyer must sign off on all real estate transactions.
Real Estate Lawyers at Faulkner Law Offices
A real estate attorney at our law firm can help you understand and follow state laws to avoid attracting a legal problem.
- Assist and guide you with your purchase until the closing.
- Respond to all questions relating to the property purchase and closing.
- Act as the middlemen between you and the vendor.
- Establish closing dates and prepare a certificate of satisfaction (if necessary) to verify that all the seller has paid off all lenders. The certificate is recorded only after closing.
- Prepare or evaluate all paperwork for closing, including deeds and inspections related to the seller.
For a free consultation from a responsive real estate attorney in Atlanta, call +1-770-685-9501.
Lawyers Becoming Real Estate Brokers
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