There are many qualities that go into being an excellent lawyer, and often times these characteristics overlap with being a successful real estate agent. Both fields require good negotiation skills, clear communication, organization, and the ability to be persuasive. Furthermore, the two careers can often intertwine as there are a few states that require a lawyer to purchase a house.
At the end of the day, most states do not require a lawyer in the sale of a property. However, it’s almost always better to use a brief consultation to obtain legal advice instead of relying solely on an agent. Use your real estate agent for real estate advice and a lawyer for any legal advice you need.
That being said, there are a few key qualities that lawyers possess that help to make them successful real estate agents. Here are a few of those unique traits.
The ability to negotiate well may be the most important skill when it comes to closing a deal. Lawyers practice negotiating on a daily basis. Many deals fall through when an agent isn’t skilled in negotiation. Whether they reveal too much information or carry themselves in an arrogant manner, it turns off other agents or clients.
A lawyer knows how to use a friendly, but direct approach while maintaining professionalism. In real estate, you must be able to communicate clearly and hold your ground when necessary, the same is true when practicing law. To close a deal, hone your negotiation skills. This is why lawyers often make the best real estate agents; they’ve had a lot of practice!
Attention to Details
This seems like a no brainer when considering the traits you’d like your real estate agent to have. What makes lawyers so effective as real estate agents is the fact that they are very detail-oriented. Lawyers are hired to catch mistakes that could cost their clients time and money. One must pay close attention to detail when reviewing complicated documents and completing paperwork. It protects you to have a real estate agent that pays attention to detail as efficiently as a lawyer.
Both real estate agents and lawyers must have the capacity to make tough calls. An agent can be responsible for setting a listing price that makes sense and providing their client with the right advice to either buy or sell successfully. Lawyers use their judgment every day whether in the office or in court. Law clients trust their lawyer to understand the things that they don’t and respond by helping them to make the right call.
While there are almost as many differences as there are similarities, hiring a real estate agent who has a law degree is never a bad idea. This way if an issue arises you won’t have to go far to gain insight into the legality of something. Don’t forget that it’s not typical for your agent to be a lawyer, so for advice in either field seek the appropriate council.