The Role Of A Realtor Vs. The Role Of An Attorney In A Real Estate Transaction

The Role Of A Realtor Vs. The Role Of An Attorney In A Real Estate Transaction

On Behalf of | Mar 25, 2022 | Blog, Real Estate Litigation |

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.