What Real Estate Agents Should Know About Working With Attorneys

 

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What Real Estate Agents Should Know About Working With Attorneys

Collaboration between real estate agents and legal professionals is a key component of many transactions. Here’s what real estate agents should know about working with attorneys.

Author: Stan Faulkner, Founder, Faulkner Law, LLC

Mr. Faulkner is an experienced counselor and litigator with 15 years of experience, having held bar licenses in four states (Mo, Il, Ct and Ga). Stan Faulkner uses this experience and focuses his skills in the pursuit of assisting individuals in probate (trust and estate) matters, guardianships and conservatorships, estate planning, business disputes and contract disputes. Published on February 26, 2022.

Given that real estate is a people business, one of the most critical assets as a realtor is to have a strong network of business relationships. Real estate attorneys and real estate agents have to work together in many states that mandate that an attorney be involved during the closing or sales process. 

In some instances, realtors and attorneys can have a smooth and seamless process, while at other times, both parties cannot wait to conclude the deal and move on. However, building healthy business relationships as a realtor is critical in the real estate business. 

It is possible for attorneys and agents to have a healthy working relationship which often helps greatly in the resolution of conflicts before they escalate. 

If you are a real estate attorney, contact the Faulkner Law offices to establish an attorney-client relationship. We have successfully worked with many real estate agents over the years and will be happy to offer our services to you too. 

Benefits of Working With a Real Estate Attorney

Real estate agents and brokers work with attorneys whenever there is a property transaction. They need to do this since they can provide great service to their clients by working together. 

To enhance your client’s home selling or home buying process, it is critical to establish a working relationship with a competent and experienced closing team of attorneys. 

Some of the benefits of working with a competent real estate attorney include:

  1. Client-Centered Service – A great lawyer will provide client-centered service that treats your buyer or seller with respect and provides legal advice during the process. They will also keep an effective line of communication by keeping the real estate agent in the loop on potential issues and deadlines. 
  2. They Understand Real Estate Work – Real estate attorneys work with all manner of real estate professionals, including contractors, inspectors, builders, appraisers, lenders, and real estate agents. In this regard, they have a deep understanding of the agent-client relationship and work hard to ensure the best outcomes for all parties. 
  3. Attention to Detail and Flexibility – The best real estate lawyers and law firms provide flexibility as they understand the busy schedules of their agents and clients. A great law firm will also allow flexibility in scheduling real estate transactions and discussions, thus allowing all concerns and outstanding issues to be resolved before moving forward. 
  4. Disclosure and Transparency in Transactions – Buying or selling real estate involves a lot of money changing hands. Working with a real estate lawyer will get a better grasp of expenses, commissions, and costs. As such, the agents and clients will let the client know what to expect, which will reduce stress on both the client and agent.

If you are looking to take advantage of real estate attorneys at your real estate practice, there is no law firm better than the Faulkner Law Firm. We have a responsive and powerful real estate attorney with a good understanding of real estate law that has been working with real estate agents for many years.

Contact us today, and we may just use our experience and skill to help you with your real estate transactions.

Things Real Estate Lawyers Do That Agents Can’t

While it has been shown that hiring a real estate agent is critical if you need to make more money selling or buying real estate, it is just as critical for buyers and sellers to hire a real estate attorney.

 

What Does a Real Estate Agent Do?

A real estate agent is usually responsible for meeting and interviewing their clients and understanding their needs. Once they have a clear idea of what a client wants, they will research and find listings that fit those needs.

They will usually organize for property showings and answer any questions buyers or sellers may have while touring the property. The real estate agent will also help with initial paperwork and other tasks such as drafting a purchase contract, negotiations with stakeholders, and hiring inspectors.

Given their connections, agents may help connect their clients with a lender or with a mortgage loan broker. In essence, a real estate agent provides comprehensive support during a real estate transaction.

What Does the Real Estate Attorney Do?

The real estate attorney, just like the real estate agent, wears multiple hats in the home buying process. They are usually the closing attorney and play a critical role in closing real estate transactions.

Still, one of the most essential things the real estate attorney does is help their client navigate the legal landscape by providing advice when buying or selling a property. Since there is all manner of laws, when it comes to real estate, a real estate attorney helps their client understand and adhere to the state laws.

Sometimes, the real estate attorney will negotiate the buying and selling contracts and conduct a title search, draft the home purchase contracts, and be highly involved in the closing process. They will also answer all legal questions the parties may have about the process.

You do not have to stress yourself out when doing the legal stuff in a house purchasing or selling contract. By working with a real estate attorney, you can place the complicated legal aspects of the transaction on them and have the peace of mind you need to close the transaction.

Contact our trusted Georgia real estate attorney today, and we may just take care of you. The lawyers at Faulkner Law have years of experience working in real estate and we may use our skills to ensure that you get the best outcome for your client.

Tips on Choosing a Real Estate Lawyer

Choosing a real estate lawyer is a critical part of a real estate transaction, and as such, it is critical to get it right. As a real estate agent, real estate contracts may contain a lot of legal jargon that you may not understand, and hence choosing the right lawyer to help you understand everything is advisable.

After establishing an attorney-client relationship, an attorney can help reduce the stress of preparing all legal documents correctly. They will provide legal advice and help draft the deed, get them signed, and ensure that the paperwork is filed according to the legal standards set.

To get a lawyer fit for your needs as a real estate agent, you will need to:

 

Work with a Real Estate Lawyer or Law Firm

Many realtors make the mistake of working with just any lawyer, which is not the worst thing to do but not ideal. With a real estate attorney, you will be sure that they have a good grasp of real estate law. They will be up to date with changes in the law, and their experience working in real estate will be invaluable.

Find Lawyers with Experience

A good lawyer or law firm is one that has worked on several hundred or maybe thousands of transactions and has several years’ worth of experience. Such an attorney will have seen it all, have a good understanding of real estate laws, and be able to provide the legal advice and guidance you need in conducting all manner of transactions.

 

Get an Honest Lawyer

Since you often get an initial free consultation with attorneys, you can use that to determine if your attorney is forthcoming and honest. You can usually determine this by interacting with the lawyer for a few minutes.

 

Contact the State Bar Association

Most state bars will provide you with a list of attorneys practicing in the area that focus on real estate law. By working with the state bar, you can be sure that your lawyer is licensed to practice law in the state. If you do not want to contact the bar, you can also find the list of lawyers from the state bar association website.

 

Check Out Lawyer Reviews

There are many online resources where you can read reviews of attorneys provided by real clients. By reading such reviews, you can determine if a lawyer is a good fit for your real estate transaction needs as a real estate agent.

 

Talk to Colleagues and Friends

One of the most effective ways to get an excellent real estate lawyer is to ask for recommendations from colleagues and friends. Many people that have been involved in buying or selling a house may know a good attorney that you can use.

 

Find Out About the Cost

While hiring a lawyer with the highest or lowest fee can be tempting, this is not always ideal. A lawyer that charges high fees is not necessarily a better lawyer and vice versa.

Still, it is critical to remember that the cost will usually depend on the complexity of the case, city, and level of experience. You should meet with several lawyers and determine who among them offers a reasonable fee for services offered.

 

Find Your Lawyer on Time

It is always advisable to have an attorney at hand before you start the real estate transaction. By having a lawyer well beforehand, you will have the advantage of knowing their specialization and how they work.

You will also not have to scrounge around to hire a lawyer to represent you at the last minute, which could cost you a deal.

Finding a qualified real estate attorney to work with as a real estate agent may seem daunting. However, you do not have to go through the process if you have just such attorneys ready to work with you.

Contact the attorneys at the Faulkner Law office, and we may just have our real estate attorneys establish a working arrangement.

How to Have a Successful Relationship With a Real Estate Lawyer

Nothing will improve your business more than having a good relationship with your real estate lawyer. Real estate lawyers often provide a range of services that enhance the process of buying and selling real estate, thus making it easier to please your clients.

Some of the ways to have a successful relationship with your real estate lawyer include:

Ensure That You Communicate Effectively

You should always strive for regular and effective communication between you and your lawyer in all stages of the transaction.

The agent should always update the attorney about the status of deal-related items, while the attorney needs to update the agent on the status of the contract. This will ensure that everyone is on the same page, resulting in satisfied clients that may refer you to even more clients.

Ensure that You are Working in Tandem

Working together to achieve the same goal is critical for completing a real estate transaction.

Given that real estate attorneys are indispensable in the drafting of home purchase documents and putting out fires that could derail a closing, the attorney and the agent must establish a working agreement that sets out the expectations and responsibilities of each party.

Each Party Needs to Play Their Role

Playing your expected roles is critical, and a realtor who understands the dynamic and works hard to effectuate their part to get the necessary appraisals and approvals and ensure the client does their part will be a successful one.

On the other hand, an experienced real estate lawyer will ensure documents are filled in correctly and filed and, if necessary, draft and revise contracts to ensure the deal is concluded as efficiently and as smoothly as possible.

Know Where to Place Client Interest 

The real estate attorney and the agent must know where to place the client’s interest. Both the lawyer and realtor have a fiduciary duty to place the client’s interest above their own.

If you are working with a real estate attorney, it is critical to always have the client ask any questions and advice from the attorney when there is doubt on the best course of action.

Knowing how to work with a real estate attorney may be one of the best things you could ever do. Whether you are looking for a real estate dispute attorney or just a lawyer that can offer advice and draft your home purchase documents, a real estate lawyer will be invaluable.

Contact us at the Faulkner Law firm as we have been working on all manner of real estate transactions for years and may use our experience to help you with any legal matters you may have.

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