As a real estate agent, or a realtor, you may find yourself wondering what benefits you can experience by partnering with a realtor lawyer. A realtor lawyer can help you in many different ways, including completing some of the key tasks that need to be completed. Read on to learn more about some of the key tasks that this type of legal professional can help you complete.
Writing Listing Agreements
One of the important tasks that a realtor attorney can complete for real estate agents is writing listing agreements. When you take on new clients, you have them sign a listing agreement with you. The agreement includes key details about the listing price of the home, how long you retain exclusive rights for selling the home, and how much your commission is. You’re going to put time, money and effort into selling a home, so you want to ensure your listing agreement is legally binding to protect yourself and the commission you expect to receive.
Creating and Drafting Real Estate Listings
As a real estate agent, you probably understand the importance of real estate listings. You want to ensure the listing you put out is correct and not misleading or incorrect in any way. A realtor attorney can help you to create and draft real estate listings, ensuring that the listing is correct and doesn’t pose any potential legal issues down the road.
Filling Out Seller’s Disclosures
One of the most legally complex elements that real estate agents face is helping their sellers to fill out seller’s disclosures. There are many legal challenges to determining what does and does not need to be disclosed to potential buyers. If something legally needs to be disclosed, and it doesn’t get disclosed, the seller of the property can be sued. In some cases, the real estate agent can also be sued. Having a legal professional work with your sellers to complete their disclosure can minimize both yours and your client’s legal risks.
Negotiating Issues That Arise Throughout the Buying Process
Real estate transactions aren’t always simple and straightforward. In many cases, curveballs come up during the buying process. A home inspection may reveal that work needs to be completed on the home or a title search may indicate that there’s a lien that needs to be tended to. When these issues arise, the negotiating process between the seller and the buyer opens up. A great realtor lawyer can work to help negotiate with the buyer’s agent or legal representation as these potential issues arise. This helps to prevent deals from falling apart.
Representing You If a Breach of Contract Is Filed
Unfortunately, not every real estate deal goes smoothly or ends up with a satisfied seller. If a seller that you represented ends up filing a breach of contract lawsuit against you, their real estate agent, a realtor lawyer can help to represent you against that lawsuit.
Most people aren’t aware that realtor lawyers even exist. However, they do exist, and they offer many benefits to real estate agents who do business with them. By partnering with a realtor lawyer, you can limit or minimize your legal exposure because the lawyer will help you complete many different types of tasks, ensuring your documents are legally binding and assisting you in the event that a breach of contract is filed.