If you’re involved in a real estate transaction in Louisiana, getting assistance from professionals in the space is essential. Two of the most important individuals you’ll likely deal with include a realtor and real estate attorney. Understanding the difference in their roles can help make your experience more straightforward.
How does a realtor help with the transaction?
Whether you’re purchasing or selling property, having a realtor assist with the transaction is vital. This professional is a member of the National Association of Realtors (NAR). They must follow the Association’s code of ethics and pay a membership fee. Using a real estate agent or broker helps assist with the following factors associated with most real estate transactions:
- Preparing your home for viewing by prospective buyers
- Networking with other real estate agents to help sell your property quicker
- Hosting an open house when you are selling your home
- Helping you make your property appealing to buyers
- Promoting your property on real estate platforms and social media
How does a real estate attorney help with the transaction?
A real estate attorney will handle all of the legal aspects of your transaction. They possess a law degree, which typically takes three years to obtain from an accredited university or college. Their role in your transaction can include the following:
- Guiding you on relevant real estate laws
- Drafting the legal documents required for the transaction
- Assisting with the legal closing of your deal
- Arbitrating any contractual disagreements
Certifications
The realtor and real estate attorney involved in your transaction require specific certification. Working as a realtor requires an individual to be 18 years of age. They must complete specific real estate courses, pass the license exam and enroll as a member of the NAR. The real estate attorney requires a license to practice. Passing a bar exam is also required before you can practice as a real estate attorney and specialize in this area.
Knowing more about the roles of a realtor and real estate attorney should make working with them more efficient as you will know what to expect from each professional. This understanding may also aid in a swift closing of your transaction.