Representation in Real Estate Transactions
Our attorney is also a licensed real estate broker and is often able to offer combined services potentially resulting in a partial commission rebate to the client.
We offer this unique option only to professional real estate investors and others with a superior knowledge of transactions and contracts. Our services are support level only, consisting exclusively of the usual legal services we provide in real estate transactions. It is available only if the TREC or TAR contract is not yet signed and the client is not already represented by a broker or agent. Our compensation is 1% and we may be able to rebate 2% to the client (net after taxes) if the transaction closes. Doing much of the primary contract work is how the client earns the 2% discount. Under no circumstances may this option be converted into full brokerage representation, which we do not offer.
Engage Us Before the Contract is Signed
It is always better to involve an attorney before a real estate contract is signed. The contract controls much of the transaction—the rights and remedies of the parties, conditions of closing, special requirements, and any custom or creative clauses that will need to be included in the closing documents. If a contract has already been signed, we may still be able to offer partial or limited representation on the remaining portion of the transaction, but our options will be more limited, since basic agreements between the parties will already have been made. Inquire.
Level of Brokerage Representation
Our attorney is not a full-service real estate broker. In other words, our services in the brokerage area are limited and support level only, with the client leading the way. For instance, we do not show properties; arrange for a survey, inspections, appraisals, or repairs; conduct negotiations; assist with obtaining financing; list the Property on the MLS; market or put signs on the Property; hold open-houses; meet with buyers, sellers, or agents; or the like. If you need this higher level of assistance, or if you are a relative beginner when it comes to real estate, then you should engage a full-service full-fee real estate broker. We do not accept full-service brokerage clients at all, so the client must be prepared to do much of the work in order to earn the rebate.
Essentially, this is an opportunity to get full legal advice and support plus a commission rebate at closing so long as you are willing and able to represent yourself on brokerage-related tasks and issues. Please do not enter into this arrangement with the expectation that we are going to be your full-service broker.
Combined lawyer/broker services may not be suitable in every circumstance, and we accept or decline these cases in our discretion. Fees and commissions discussed here are guidelines only. Specific services and compensation may vary according to the transaction, property, parties, and sales price. Terms and conditions are finalized in writing prior to our commencing work and it is that agreement which applies. Request a no-obligation custom quote.
Read TREC’s Information About Brokerage Services (PDF).