Five Reasons Your Florida Real Estate Business Needs Legal Counsel!
1. Immediate Advice! Real Estate in any state is highly regulated; therefore a lot of business owners can be uneasy with regards to certain acts and transactions concerning the real estate industry. Often times a property manager may find themselves asking "What do I do with this tenant that wants to break their lease?" In other circumstances, a title company may ask "Can a clear chain of title be established?" due to various issues with a deed to a property that is about to be sold to a new homeowner. When a company hires in-house counsel or general counsel there is often a chance for the company's employees to learn the laws that regulate the real estate industry, thereby reducing the business's reliance on legal counsel, and of course saving the business money.
2. Administrative Agencies Regulate Florida Real Estate Businesses. In Florida, the Florida Real Estate Commission (FREC) and the Department of Business & Professional Development regulates the licensing and business requirements for Florida Real Estate Brokers and Sales Agents. These administrative agencies also supervise Real Estate Brokerages, Real Estate Schools, Appraisers and various other businesses in the Real Estate Industry.
3. Federal Laws & Acts Regulate Real Property. Real Property is also subject to various Federal laws including but not limited to the Fair Housing Act (FHA) and Civil Rights Act.
4. Florida Statutes Regulate Florida Real Property Law! Real Estate can be complicated even at the state level. Florida statutes govern Real Property in Florida. These statutes cover areas from HOA's, Landlord-Tenant Law, Timeshares, Easements, Foreclosure and other various areas of Property Law.
5. Save Money and Reduce Liability! Real Estate attorney's can be expensive, depending on the level of expertise. An average real estate attorney with moderate experience can start at $400.00 per hour and go up from there. By hiring in-house legal counsel or general counsel for your real estate business, you can often save money with a retainer agreement; rather than seeking different attorneys every time your business has a legal problem.