Do I need a realtor or a
real estate attorney?

Realtor vs. real estate attorney

Real Estate Attorneys and Realtors can both help you buy and sell property, but which is the most appropriate for your situation? Here we’ll explore some of the differences so you can make an informed decision.

Benefits of a realtor

Working with a realtor is most appropriate while you are still hunting for the right house to buy, or you are still looking for a buyer for property you are selling. 

When buying, realtors assist with showing you properties, giving concierge service, and acting as a middleman between the seller and buyer. When selling, the realtor can help novice sellers with pricing and presentation, along with listing the property on local multiple listing services (MLS) to increase interest and awareness of your property. 

Realtors will likely increase the purchase price of property you are selling through marketing and negotiation. They are paid a percentage (around 6%) of the final balance, however, so it will be up to you to decide whether you require all the services offered by realtors. 

Benefits of a real estate attorney

Unlike realtors, real estate attorneys usually charge hourly instead of a percentage of the sale price. This can constitute massive savings, but the services provided are not the same. Working with a real estate attorney is most appropriate when an official agreement is needed to solidify a sale or negotiate terms of the sale with an interested buyer. In these cases listing and marketing services are unnecessary, but an attorney will still ensure the purchase or sale agreement is comprehensive and legally sound.

Seller financed 

Usually people go into a sale with cash in hand or a bank loan, but sometimes neither is the case. In these and other non-standard cases a real estate attorney can help navigate the transaction and ensure compliance with state and federal law. 

Real estate attorney or LegalZoom?

Online legal companies or sales agreement forms are not always proper for all jurisdictions. It’s always best to consult with a real estate attorney who can help you complete and understand your specific sale or purchase. We have seen situations where an owner has relied upon LegalZoom, only to discover the forms provided were not appropriate for their specific transaction. Consulting with a real estate attorney can ensure you don’t have headaches down the road. 

Conclusion

Realtors are a great option for property buyers or sellers who are in need of marketing, listing, and negotiation. Real estate attorneys can help ensure your previously-negotiated sale proceeds smoothly and legally, usually for a much lower fee. If you are in need of real estate attorney services, contact our experienced attorneys at Funke Law Firm today!

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