Who Is More Important: Real Estate Lawyer Or Agent?

Buying a home in Ontario can be difficult because you may not know how to develop solid ownership contracts. You may also be confused between hiring a real estate lawyer or agent for the deal.

Both individuals can help you during real estate transactions, but you may require one service more than the other. We’re here to help you understand more about this.

Dive below to learn who will be more beneficial to you during contract negotiation: a real estate lawyer or agent.

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What Does A Real Estate Agent Or Realtor Ontario Do?

A real estate agent or realtor Ontario helps people buy or sell properties. They can help you find potential homes and take you to those places for a tour. If you like a house, the realtor may talk to the other party to help you sign a contract.

Some specific services a real estate agent can help you with include:

Hosting open houses to sell a property
Decide on a price for buying or selling a house
Present your first offer to a seller or buyer

These agents can help you understand real estate market trends and advise you on how to list your property.

What Does A Real Estate Lawyer Do?

A real estate lawyer helps you sign a contract with a buyer or seller once you’ve decided on a specific place. From reviewing lease agreements to helping you decide rent payment schedule, a real estate attorney offers various services.

Some key responsibilities that will answer what does a real estate lawyer do are listed below:

Drafting purchase agreements
Conducting title searches to help you avoid ownership disputes
Inspecting a property for potential squatters rights Ontario issues
House closing
Liens and other hidden facts disputes

Your real estate attorney will help you ensure the property you’re buying is a safe investment. Their assistance will allow you to avoid house lien disputes, squatters rights lawsuits, and other real estate problems.

Real Estate Lawyer Vs Agent: Who Do You Need More?

Whether you require a real estate lawyer or agent in Ontario will depend on your needs. The key thing to remember is that even if you hire a realtor, you will require the help of a lawyer during contract negotiation and signing.

So hiring a real estate lawyer will become essential at a specific stage of buying or selling a property. However, the same is not true for choosing a realtor.

Real estate agents are not necessarily required for real estate transactions. Even if you don’t hire a realtor, you can still buy properties in Ontario and enjoy house closing benefits.

The main task of a realtor is to ease your burden by finding potential places to buy. They can save you time by showing you houses that fit your vision. Real estate agents can also list your property on the market and show it to buyers, while you’re at work.

Overall, a real estate agent is mainly for those who don’t have the time to research potential properties or meet buyers. Real estate lawyers are always necessary once you’ve decided to sign an agreement with another party for real estate transactions.

Is A Real Estate Attorney Cheaper Than A Realtor?

A real estate attorney can be cheaper than a realtor in Ontario, depending on the services you receive. Lawyers usually have specific work to do after you’ve decided to buy or sell a property.

This is why attorneys usually charge a fixed rate or offer you accurate quotes beforehand. Realtors can offer the same luxury because their work varies.

These agents usually charge an hourly rate which can lead to a high bill at the end because realtors have to conduct open houses, show property to various potential buyers, and more.

Most realtors also charge a commission of about 5% of the purchase price for helping. Real estate lawyers usually don’t ask for commissions, usually because of a flat fee system, making them cost-effective.

FAQs

What Is The Difference Between An Agent And Real Estate Attorney?

A real estate agent will take you to different properties and help you decide on a place to buy. Lawyers’ duties come into play when you make up your mind about signing a purchase agreement with a seller. They draft contracts and help transfer ownership to you.

Can A Lawyer Be A Real Estate Agent In Ontario?

A real estate attorney can serve as an agent in Ontario if they’re offering legal services for property sales. They can also be an agent if real estate transactions come under their primary services.

What Does A Real Estate Lawyer Do For The Buyer?

Real estate lawyers Ontario can review a purchase agreement for the seller to identify any loopholes. They can also identify vague clauses and conduct title searches to protect you from property scams.

When Do I Need A Real Estate Lawyer Ontario?

You require a real estate attorney when you decide to sign a contract for selling or buying a property. If you’re selling a property, your lawyer may develop a contract with details about ownership transfer, selling price, and more.

Choose The Best Real Estate Lawyer Ontario For Contract Negotiation And Property Deals

Real estate transactions require hiring expert lawyers to complete the sale or purchase of a property. They are more necessary than realtors because of legal regulations, ever-changing zoning laws, and more.

Choosing the best real estate lawyer can help you buy a property without facing lawsuits due to ownership or boundary disputes. We have decades of experience in handling real estate transactions.

Connect with us today to start your process of buying or selling a property in Ontario.

Author Profile

Barnett Law

Barnett Law is a trusted and knowledgeable lawyer in Scarborough. Her expertise spans real estate law, family law, adoptions and fertility law. A lawyer by profession and a humanitarian by heart, Athena Narsingh Barnett wants to help people become more familiar with the legal system and be well-informed to make important legal decisions.