BY GERRY KEARNEY

When you decide to sell your property, who do you talk to? A lawyer or real estate broker? These professionals provide valuable, but different, services. I am a lawyer as well as a licensed real estate broker and practice on both sides of the fence. Here are my insights.

A real estate agent can help you with marketing your home or property, including listing the property with the Multiple Listing Service (MLS), providing signage, helping you to prepare your home so that it will make a good impression, advertising and marketing your property, assisting you in negotiations and helping you fill out all of those pesky forms. For this, they charge you a commission. The commission is negotiable, but sellers of residential property typically pay a commission of between 5 percent and 7 percent of the sales price. The commission is also typically split between the seller’s agent and the buyer’s agent.

Real estate agents are not authorized to practice law. They are limited to filling out blanks on pre-printed forms that have been prepared by an attorney. Real estate agents cannot give legal advice. If they do so, they are engaging in the unauthorized practice of law that is not only risky for both the client and the agent, but is against the law. If a legal issue arises, as it often does, your real estate agent can’t help you. You will have to hire an attorney to deal with the problem.

Lawyers provide different services. They can provide legal advice and draft the documents that will facilitate your property transaction. Lawyers typically don’t do all the things that real estate agents do like assisting you in marketing your property. Some people want to avoid the commission and sell their home themselves. They do the advertising, marketing, negotiations and provide signage. These homes are referred to as “For Sale By Owner” or FSBOs (pronounced FIZ-BO). Unless the seller is well steeped in the nuances of real estate sales, it is probably cost and time effective for them to see an attorney who practices in the area of real estate.

Most lawyers charge either a flat fee or hourly rate depending on the lawyer and the service provided. Lawyers can also draft powers of attorney for real estate sales, personal representative’s deeds and other documents that your real estate agency or escrow company cannot provide.

The sale of a home or property involves a complex blend of property law, contracts, disclosures, title insurance, escrow and deeds. Most individuals are not equipped to guide themselves through this maze. When it’s time to buy or sell that piece of property, maybe it is also time to consult with a professional.

Gerry Kearney is an attorney practicing in Kingston for the past 15 years and also a real estate broker for Dream Realty. Contact him at gerry@kitsapattorney.com