Quote:
Originally Posted by Heidi60
Why would anyone bring in another sales person?
You need to hire a qualified legal representative to ensure your rights in the real estate contract negotiations are handled by someone who has no financial interest in the outcome.
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Your rants against real estate agents might be better received if they weren't so monotonous. While there are certainly times when a qualified real estate attorney is better suited to handle a transaction than a real estate agent, there are also times when the opposite is true. Lawyers can best deal with the legal intricacies of some real estate contracts, but dealing with price is usually not their forte. An experienced real estate agent is usually more qualified to give guidance as to market value and even as to negotiating tactics.
Besides, if buyers exclusively were to use attorneys, there would be little to no chance that they could get part of the commission rebated to them. As an example, in Michigan, only licensed agents are allowed to receive a real estate commission--attorneys are not eligible (unless they are also licensed as a real estate agent, of course). A recent client of mine was going to use an attorney to handle negotiations until I apprised them of that fact. I then represented them as the Buyer's Broker and we were able to successfully complete the purchase. In doing so, I was able to rebate my full $22K commission to them, which was much appreciated. (I don't rebate my entire commission very often, but the buyer was one of my favorite charities.) And, by the way--since it was a complicated deal--attorneys were still involved.