For any Florida real estate agent, having an established relationship with an experienced real estate attorney can be a big differentiator in a very competitive market.  

In all, some 21,000 active real estate agents ply their trade in South Florida (between Boca Raton in the north and Miami in the South). If you are one of these agents, do you have a close working relationship with a real estate lawyer who can support your transactions?  If not, then perhaps you should.

Here are three important reasons why:

1. Legal Potholes Abound

The contract is a very lengthy and legally binding agreement with many conditions that have to be met and buyers and sellers are both bound to many obligations of which they may not be aware.  Because real estate agents cannot draft documentation beyond completing a standard real estate purchase agreement.  Real estate agents would be committing unauthorized practice of law if they attempt to revise or redraft part of a purchase agreement.  So if the buyer or seller wants to change certain clauses in a legal document, the real estate agent is not legally permitted to make those changes or advise whether they should be made.

In such cases, it is wise to have an established relationship with an experienced real estate attorney who can draft and revise purchase agreements, legally, to facilitate the transaction.

2. It’s hard to differentiate “Legal Advice” from “Legal Information”

Realtors, real estate agents, and title agents are not allowed to give any legal advice, legal guidance or legal opinions unless they are also an attorney licensed to practice in Florida. This is both a legal requirement as well as one of professional ethics.  Agents can, however, recite the legal requirements of the transaction without interpretation.

This is referred to as providing legal information as opposed to legal advice.  It is recommended that agents retain a competent real estate lawyer to give legal advice. That way, they won’t cross the fine line between legally reciting legal concepts and illegally attempting to interpret them.  In cases where a legal opinion is required, then having an attorney involved ahead of time can make the process more efficient.

“Real Estate Agents, do you have a close working relationship with a real estate lawyer who can support your transactions?  If not, then perhaps you should.”

3. Litigation is Common

Unfortunately, real estate transactions in Florida often times end up in disputes that can lead to formally filed complaints, arbitration, or even litigation. Having an attorney at the outset (before an offer is made or accepted) may help in avoiding legal disputes that can negatively impact a transaction’s chances of closing and leave a stain on a real estate agent’s public record. When all parties are aware of the requirements of the purchase agreement, the chances of a dispute are minimized. In an industry where single transactions routinely exceed six and seven figure dollar amounts, the liability involved with disputes can be significant.  Real estate agents should beware of attempting to handle such high-value disputes without legal representation and support.

The Real Estate Attorneys of South Florida Law

Are you a real estate agent involved in high-value property sales?  If so, contact the offices of South Florida Law.  Our real etstate attorneys are experienced in commercial and residential property transactions, title, and other matters related matters.

South Florida Law is both a real estate law firm and a fully appointed title insurance agency that can conduct title searches, remove clouds on property, and issue title insurance for your Florida real estate transactions.

You can reach us on (954) 900-8885 or via our contact form.