Realtors vs. Lawyers: “How will I benefit from WaLaw’s services compared to those of a REALTOR?”

This post is authored by Marc Holmes, the Designated Broker for WaLaw Realty.  Marc recently received this inquiry from a potential client.  Here is his response:

Thank you for the inquiry.  The two most obvious advantages that we provide to a buyer like you are superior representation and a large commission rebate.  Better representation should be especially important to you since you’re considering a bank owned home which means the seller will insist on using its own contract addendum which supersedes the terms in the standard MLS forms used by agents.  Real estate agents aren’t trained or authorized to advise a client on the meaning of custom contract documents but we, as attorneys, are fully capable of advising you on the meaning of such a document and the potential pitfalls that you should be careful to avoid.  Moreover, I’m currently dealing with this listing agent on another transaction so she and I are both familiar with one another and have a good working relationship which would benefit you especially if you wind up in a multiple offer situation.

 Second, we rebate the entire commission to you less our fee at closing.  In this case they’re offering 3% of the net sales price so if you offered the list price you’d would receive a net cash back rebate of $_____.  Typically this money is used to pay a portion of the buyer’s closing costs (as opposed to paying all of your closing costs out of pocket).  We can also negotiate for a seller contribution to closing costs if that would be helpful to you.

Posted by Marc

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