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5 Ideal Qualities To Look For In A Real Estate Lawyer
Nothing is ideal in the real world. And often times, even when you find an ideal professional who would be a great addition to your team, you have to join the long cue of suitors for his services.
Great lawyers are one such breed of professionals. They never run out of clients. And even if you are willing to remunerate them above their usual rate, they might still not take up your offer.
Yet there’s no harm in knowing what are the ideal qualities in a real estate lawyer to hire.
This is so that you can compare the ones you are interviewing with the standards that you have set for your hiring goals.
Here are some ideal qualities you’d want a real estate attorney to have. Just remind yourself that the world is seldom ideal.
1) Full time lawyer
This is no joke.
Like many accountants who choose to offer their services on a part time basis due to their personal commitments and goals, many lawyer also choose to practice law part time.
They might be fully competent in legal areas with less at stake.
But with real estate dealings, it goes without question that it’s best to have a full-time real estate lawyer to be on your side.
2) Licensed to practice law in the state of your dealings
While lawyers would most likely reject clients who need them for dealings in a state they do not practice in, mistakes can happen.
Even professionals can make human mistakes. You too.
So do make it a point to check whether the lawyer you are considering to hire does hold a license to practice law in the state you are doing your property deals in.
3) Local knowledge
Real estate legislation don’t just vary from state to state, they can have significant differences from area to area within the same state too.
While a lawyer without experience in a local area could still be competent in delivering the services you require, a lawyer with knowledge and practice in the local area should be able to do an even better job.
Real estate investing and law goes hand-in-hand.
You could very well get an advantage over another investor just because you have a lawyer who is more in touch with local laws and practices.
4) Track record
Depending on your needs for finding a lawyer, the relevant track record should be a critical factor in your hiring decision.
If for example, you need to take a seller to court, the ideal lawyer should have a proven track record of taking on such cases and emerging victorious from the courtroom.
Be mindful not to blur the lines that separate experience and proven track record.
Many people can have experience with doing business. But only a handful might have a track record of success.
You assets and retirement plans could very well be on the line when property deals go sour. So it’s advisable to hire the most suitable legal professionals for legal advice and services.
5) Communication skills
When disputes between two parties arise, you might find that often times, the lawyer becomes your ears and mouthpiece.
You basically tell the lawyer what to inform the other party, while the other party would communicate with you via the lawyer.
Those with poor communication skills could convert a friendly comment into an all-out declaration of war.
So the people skills of the lawyer is of utmost importance so that he is able to communicate what you mean in the appropriate tonality.
6) Speaks your language
Legal speak is like a foreign language to the average person.
Even veteran investors can get lost in legal jargon.
An ideal attorney should be able to explain and elaborate to you what certain legal terms mean in a way that you can understand.
This is a puzzling science.
Sometimes an individual can easily comprehend what a lawyer is trying to explain while another person gets lost within 7 words.
So sometimes it’s not that a lawyer’s communication skills are lacking. It’s just that you don’t speak the same language.
Don’t even think about hiring someone who you cannot understand. It’s just not ideal.