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In the age of Zillow realtors will do anything to make themselves seem relevant and necessary. A good attorney is absolutely essential in buying real estate. A realtor, in my experience, is nothing more than a hindrance.
In the age of Zillow realtors will do anything to make themselves seem relevant and necessary. A good attorney is absolutely essential in buying real estate. A realtor, in my experience, is nothing more than a hindrance.
Here, in the tri-state area yes, attorneys do it all. BUT most around here don't seem to know that in most of the rest of the country there is no such thing -- NO real estate attorneys in buying and selling and everything you attorney does here, the realtor does, every single thing. And you close in 30 days with a full mortgage. My last home out of state closed in 26 days. Buying and selling is the northeast is categorically dismal.
When I was buying, my realtor wanted control over everything - attorney, home inspector all had to be the realtor's choice. Fortunately, I have a cousin who had just left law practice to change careers but he had been involved in real estate contracts in our local area for several years so knew the game and the players. He gave the wise advise that the realtor is working for you, as well as the attorney. Also, there are personal relationships and incentives behind the scenes that sometimes influence such "recommendations" - especially when the realtor is pushing the client aggressively to use a specific attorney as mine did. I instead went with an attorney recommended my cousin, who my realtor actually tried to discourage from using saying that they were going to be too slow. The attorney was anything but slow - was friendly, professional, and quick to respond with everything. On the other hand, I later found out the attorney my realtor recommended was a childhood friend of the realtor (nothing wrong with that) - and had been charged with a pretty serious felony related to corrupt practice.
I'm sure most realtors are looking out with the best interest of the client in mind. And honestly, I think my realtor was very competent and responsive. My advice is when they're pushing you really aggressively or getting upset with you, take it with a grain of salt and remember that they work for you, and only get paid when you close the deal.
im not in that business but it seems pretty obvious that any just about recommendation that a realtor gives you is going to be someone that gives them a kickback for the referral. that doesnt mean they arent good providers but they may not be the best provider that the realtor knows since the referral fee is influencing that recommendation.
Here, in the tri-state area yes, attorneys do it all. BUT most around here don't seem to know that in most of the rest of the country there is no such thing -- NO real estate attorneys in buying and selling and everything you attorney does here, the realtor does, every single thing. And you close in 30 days with a full mortgage. My last home out of state closed in 26 days. Buying and selling is the northeast is categorically dismal.
When we bought our first home we used a realtor and an attorney suggested by the realtor. Complete and utter waste of time. The home that we eventually bought I ended up finding myself on Realtor.com (this was before Zillow existed)-and ended up handling everything directly with the attorney myself anyway. When we found our current home we didn't even use a realtor-I just used an attorney who I've had business dealings with in the past and the transaction was quick, easy and painless.
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When we bought our first home we used a realtor and an attorney suggested by the realtor. Complete and utter waste of time. The home that we eventually bought I ended up finding myself on Realtor.com (this was before Zillow existed)-and ended up handling everything directly with the attorney myself anyway. When we found our current home we didn't even use a realtor-I just used an attorney who I've had business dealings with in the past and the transaction was quick, easy and painless.
That's great, but confirms my point. Here they are useless because attorneys do 98% of the work. Attorneys are not used in most states and, as I mentioned, realtors do everything real estate lawyers do here and do it in less than half the time - yet their % is the same for 5 times the work - which makes them indispensable in the majority of the country; yet most people who have never left the northeast, or unless they've bought/sold in Kentucky, ND, WV, Georgia etc, are unaware of this.
I just accepted an offer yesterday afternoon. This is the second time I have sold a home. The last time I found my own lawyer and was in direct contact with the law office. I always included my past realtor in on any email communication. Anyway this time I sent a friendly email to the law office that my current realtor suggested I use. Well my realtor texted me at 645 PM tonight saying she is upset that I emailed the law office & to let her do that and also is further upset that the assistant at the law office contacted me and didn't tell her. Was I wrong to have reached out directly?
I'd get another realtor. Your attorney is the only one involved in this process that actually works for you and has the job to be your advocate. The realtor is nothing more than a commission sales person. The only thing the realtor needs to know is the offer and if it is accepted, and the closing date. Beyond that, I never shared any communications with my attorney with anyone else, especially not the realtor. The only thing a realtor does at the closing is show up, collect their check and leave most of the time before the closing is even over. They offer so little value to begin with, and then they reinforce it by ducking out on the closing after the check is in their hands.
I first start with my real estate attorney and he recommends a realtor to use. Because these days, you find the home online and you have all the information. You can even go to the open house if you wish, and then when you are ready to make an offer, then get your own realtor involved.
The realtor is not the one who is the lead in buying the home, your real estate attorney is.
As for people complaining how they do real estate transactions in other parts of the US is better, NJ has the best system. The very idea that in some states you can roll up to a home for sale, give them $100.00 deposit and say you bought the house is a stupid way to do business. No escrow either, so there are many stories of people showing up to closing saying "Sorry, I don't have enough money to buy the house. You are gonna have to lower your price" after you've already moved out of it and lost time on the market. The way it is done elsewhere can be very unprofessional and a dumb way to conduct such a very expensive business transaction. The most expensive is most people's lives. Plus some others don't require attorneys. People show up to closing with their realtor and loan officer, how ridiculous.
I just accepted an offer yesterday afternoon. This is the second time I have sold a home. The last time I found my own lawyer and was in direct contact with the law office. I always included my past realtor in on any email communication. Anyway this time I sent a friendly email to the law office that my current realtor suggested I use. Well my realtor texted me at 645 PM tonight saying she is upset that I emailed the law office & to let her do that and also is further upset that the assistant at the law office contacted me and didn't tell her. Was I wrong to have reached out directly?
Using your own Lawyer no,not keeping her in the loop and your lawyers assistant proving why ,...............yes.
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