In light of the recent settlement by the National Association of Realtors that changes how real estate agent commissions are calculated, more people are considering attorneys as an alternative to real estate agents during real estate and property transactions. So, can an attorney step into a real estate agent's shoes? Absolutely!
An attorney can guide you through every step of buying or selling a property, from drafting and reviewing contracts to handling negotiations and closing the deal. While real estate agents excel at marketing properties and finding buyers, an attorney brings a unique skill set—legal expertise. This is especially crucial when dealing with complex transactions, such as those involving commercial properties or foreclosures.
Given the new way real estate agent commissions are calculated, the financial advantage of using an attorney becomes even more appealing. You could potentially save money while ensuring all legal aspects of the transaction are thoroughly covered. An attorney can also offer impartial advice, focusing solely on your best interests, unlike agents who may be serving as dual agents, or who have a vested interest in maximizing their commission.
While real estate agents have traditionally played a key role in property transactions, attorneys are now emerging as a viable alternative, especially under the new commission structure. Whether you're buying or selling, hiring an attorney could be the smart move that protects your investment and gives you peace of mind.