How Useful Are Commercial Real Estate Attorneys? Why You Should Still Use an Agent for Commercial Real Estate
Hire a commercial real estate agent, or use an existing attorney? It’s one of the oldest dilemmas for real estate investors. If you ask most realtors, they will usually tell you to hire an agent. If you ask an attorney, they will tell you that attorneys are a better choice.
When you consider all of that, it’s no wonder this is a real dilemma. For that reason, we wanted to give you a detailed explanation of why you need to hire an agent for commercial real estate, even if you already have an attorney.
Some would consider this to be a waste of money, but you’ll soon see why having both is a necessity.
The Role of the Attorney vs. the Role of a Commercial Real Estate Agent
Attorneys always have a role to play when you’re an investor. Most investors and landlords have attorneys.
However, many would say that having an attorney is enough. The problem is that attorneys deal with the law, not professional real estate. They can offer you advice on legal matters behind your investments, but they do not specialize in real estate.
In essence, an attorney can help you with legal matters related to real estate, while an agent can help you with the real estate itself, as well as its purchase or investment. If you need to find a great property to invest in, an agent can help you. However, if legal problems arise, you will need an attorney. Since commercial real estate is usually a complicated business, the advice and assistance from both are often more than necessary.
When you consider all of that, it makes perfect sense to hire both an agent and an attorney. However, since most of you already have an attorney at hand as you’re well aware that many misunderstandings or disputes can occur with contracts, we’ll focus on explaining the importance of having an agent.
What Can a Commercial Real Estate Agent Do for You?
Since commercial real estate agents are experts in commercial real estate, they can do several vital things:
- Save you time by quickly finding the ideal commercial property, or locating the best buyer/tenant for your property.
- Help you by acting as an intermediary between you and the other party. They will always be on your side of the negotiations, having a fiduciary responsibility to you. The agent will always have everything related to the property in mind and promptly advise you on the mistakes or omissions you’re likely to make.
- Provide you with all the insights into current prices and conditions of the market.
- Give you information on real estate properties, vendors, mortgage brokers, and more.
Besides this crucial knowledge and connections that agents have, they will always be there to look out for your best interests. You can rest assured that this will always be the case as commercial real estate agents stand to win when you do.
When all things are considered, it’s best to have an attorney to offer you legal advice and a commercial real estate agent to help you with finding the best property deals. It’s the only way you can feel safe knowing that everything will go according to plan.