I was recently speaking with a new friend, a realtor, and she was telling me an all too familiar tale. There was a deal, it was going bad, there was an independent realtor, to make a long story short, she lost her commission. She told me that her broker wasn’t particularly interested in fighting it and the title company she uses through her broker doesn’t have an attorney; they were not interested in fighting it either. She told me that had she met me just a few weeks before, she would have saved her $60K commission.
That got me thinking as to the benefits of having an established relationship with an attorney and how important it is that we maintain those connections.
And let me tell you, it’s not only for when the deal goes south! Once we’re working together, you get my cell phone number. This number allows you to reach out to me, even on the weekends, to discuss quick legal questions. I also encourage my realtors to have me glance at the contracts prior to signing. This quick review allows us to catch things before it’s too late. I assure you, this availability moves deals and confirms your center of influence status with your clients.
Even though the client is our customer, you an and I have a relationship. We work together to make the deal happen. It’s always better to have someone think of your closing as “Lisa’s” deal as opposed to the “REMAX” one.
Finally, your lawyer should not only be a real estate attorney, they should have knowledge in the overlapping areas of probate, trusts, corporate entities and contract law. These are often related and understanding the nuances is what makes us exceptional at what we do.
And what if there is an issue? In real estate, moving quickly is key. An attorney that you’ve worked with has the ability to assist and resolve conflicts before they escalate. Inter-office conflict and ambiguous issues will often require to you act as your own advocate.
That’s not to say that it won’t work without an established lawyer-realtor relationship, but given the option, I believe it’s advantageous, and who doesn’t want an advantage?