What is the difference between a real estate lawyer and a real estate broker?

A real estate lawyer and a real estate broker are both involved in the sale and purchase of real estate in North Carolina, but there are some key distinctions between the two. A real estate lawyer is a trained legal professional who specializes in the laws relating to real estate transactions. Their primary responsibility is to protect the legal rights of the buyer and seller. For example, a real estate lawyer may advise a buyer on the terms and conditions of a purchase agreement, or ensure that a seller has addressed all liens on the property before closing. On the other hand, a real estate broker is an individual or company that is licensed to market, negotiate and facilitate real estate transactions on a property owner’s behalf. A broker will develop a listing strategy to find a rental property or buyer, advertise properties, arrange showings and open houses, and negotiate the best deal possible. In sum, a real estate lawyer is responsible for ensuring that legal rights of the buyer and seller are protected in real estate transactions, while a real estate broker is responsible for finding and negotiating the best deal for their client. Both professionals play an important role in real estate transactions in North Carolina and should always be consulted prior to any agreement.

Related FAQs

What are closing costs?
What is the difference between exclusive right to sell and exclusive agency?
What is a Mechanic's Lien?
What is a closing disclosure statement?
What is a pre-foreclosure sale?
How do I become a real estate agent?
What is a lease purchase agreement?
What is a Warranty Deed?
What constitutes a valid real estate contract?
What is a dual agency in a real estate transaction?

What is the difference between a real estate lawyer and a real estate broker?

Related FAQs

Related Blog Posts