What Is a Real Estate Paralegal?
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- A real estate paralegal performs various tasks to support a real estate attorney, such as researching, communicating with witnesses, organizing files, drafting documents, and preparing paperwork, among others.
- A paralegal and a legal assistant have similar responsibilities, but a legal assistant functions more like a personal assistant to the lawyer.
- Paralegals are not required to have certifications, but these programs give them a deeper understanding of real estate law.
What Does a Real Estate Paralegal Do?
A real estate paralegal performs various tasks to support real estate attorneys.
Most of their work is focused on the voluminous paperwork associated with real estate transactions, such as preparing and accomplishing documents for selling and buying homes, leasing, foreclosures, and short sales[1], and verifying all requirements are accounted for when closing a real estate transaction.
Specifics of their job include drafting legal documents, contracts and lease agreements, letters of intent, mortgage documents, and closing papers. They conduct title searches, get all the details needed for title insurance, and research local, state, and federal laws[2]. They also research commercial real estate transactions, which are hefty projects involving many parties and countless documents.
Paralegals work in different settings. They may work for private law firms, government agencies, banks, title companies, and real estate brokers. They may also work with residential and commercial properties for sale, lease, or rent[3].
Paralegals work with all parties and update them about the progress of real estate documents. These parties may include title officers, landlords, housing managers, and other real estate stakeholders.
Note that a real estate paralegal is merely a paralegal specialization.
Paralegals generally support attorneys by doing “backend” work, such as researching, investigating, conducting interviews, preparing documents, and organizing files. They may also be expected to attend court hearings.
Like many paralegals, real estate paralegals also work full-time and are expected to have some prior legal experience.
Paralegal vs. Legal Assistant
A paralegal (whether a real estate paralegal or otherwise) and a legal assistant are similar, non-lawyer jobs in a law firm with an overlap of tasks and responsibilities[4].
One difference is that a paralegal is more concerned with the legal side, while a legal assistant functions more like a personal assistant to the lawyer. As a result, while paralegals draft documents and organize case files that the attorney can use at court or in the rendering of their service, a legal assistant instead schedules the attorney’s appointments, takes phone calls, and sorts mail and email.
Both paralegals and legal assistants cannot give legal advice, however.
Responsibilities of a Real Estate Paralegal
Paralegals have many responsibilities, depending on who they work for.
Real estate paralegal jobs will include some of these specific responsibilities in a day-to-day scenario[5]:
- Draft and file real estate documents.
- Set up meetings with real estate parties.
- Draft and review purchase contracts.
- Draft and review lease agreements.
- Draft and review loan agreements.
- Get details of the title insurance.
- Request for and review title reports.
- Request for and review certificates of title.
- Request for and review real property reports.
- Review affidavits of title.
- Conduct or request a title search to determine property ownership and other interests.
- Request for a property appraisal.
- Draft and file objection letters if there are any legal issues.
- Visit the property and check its market value.
- Check and analyze real estate financial documents.
- Prepare closing documents.
- Prepare a closing checklist.
- Coordinate the closing with all the parties.
- Set up and manage closing funds.
- Prepare transfers of accounts and closing reports.
- Keep track of due dates.
- Maintain and organize files.
- Keep track of real estate financial transactions.
- Draft legal descriptions of the property.
- Do legal research.
- Research zoning laws, tax codes, and environmental regulations.
- Answer client questions on real estate codes.
How to Become a Real Estate Paralegal
Real estate paralegals have an associate’s or bachelor’s degree. Many also choose to complete a certificate program approved by the American Bar Association (ABA)[6].
Paralegals are not required to have certifications. However, these programs give them a deeper understanding of real estate law, making them more effective and marketable in the legal job market. These courses give them a comprehensive overview of the responsibilities of property owners, federal income tax laws, contracts and closing procedures, and the preparation of legal documents.
Experts recommend an internship of at least six months for aspiring paralegals to develop the skills necessary to succeed in the field[7]. With the training, they gain practical experience in different areas of real estate law. Many look for internships at firms specializing in legal services for real estate.
Some real estate paralegals also get a real estate license. This gives them a competitive edge when looking for paralegal jobs.
What Attorneys Look For in a Paralegal
Since paralegals can be employed in an attorney’s office that does not just handle real estate issues, here are some skills attorneys look for in a qualified candidate, regardless of specialization[8]:
- Great attention to detail.
- Excellent communication skills.
- Excellent multi-tasking skills.
- Can work with real estate software and technology.
- Can work well under pressure.
- Can meet tight deadlines.
- Can handle financial documents and private information.
- Can properly check legal documents.
- Can work well with a team.
In addition, real estate paralegals are also expected to know the ins and outs of property taxes and title insurance and understand the differences between residential and commercial real estate transactions.
What Is the Salary Outlook for a Paralegal?
A real estate paralegal’s average salary in the U.S. varies significantly from state to state and is influenced by many factors.
Here are some factors that affect a paralegal’s salary[9]:
- Location. Paralegals working in larger metropolitan areas typically have higher salaries.
- Years of experience. Paralegals with more than 25 years of experience can earn nearly twice as much as those with one to five years of experience.
- Education and skills. Paralegals with higher education levels have higher median salaries. Certificate programs are not required, but they make paralegals more competitive for promotions and higher-paying positions.
- Size of the firm. Paralegals working for larger firms typically have higher salaries than those working for smaller firms.
Sources
- Fremont College. (n.d.) What is a Real Estate Paralegal. Retrieved from https://fremont.edu/real-estate-paralegal/
- Online Paralegal Programs. (n.d.) What Does A Real Estate Paralegal Do? Retrieved from https://www.online-paralegal-programs.com/real-estate-paralegal-job-description/
- ParalegalEDU.org. (n.d.) Real Estate Paralegal. Retrieved from https://www.paralegaledu.org/real-estate/
- MyDegreeGuide. (n.d.) Legal Assistant vs. Paralegal: 5 Key Differences [2023 Guide]. Retrieved from https://www.mydegreeguide.com/legal-assistant-vs-paralegal/
- BecomeAParalegal.org. (n.d.) Paralegal Careers in Real Estate Law. Retrieved from https://www.becomeaparalegal.org/paralegal-careers-in-real-estate-law/
- American Bar Association. (2021.) Educational Information for Paralegals. Retrieved from https://www.americanbar.org/groups/paralegals/profession-information/educational-information-for-paralegals/
- Indeed Editorial Team. (2021.) How To Get Hired as a Paralegal (Plus Benefits and Salary). Indeed. Retrieved from https://www.indeed.com/career-advice/finding-a-job/how-to-get-hired-as-paralegal
- LawyerEDU.org. (n.d.) Real Estate Paralegal Careers. Retrieved from https://www.lawyeredu.org/real-estate-paralegal/
- Bureau of Labor Statistics. (2021.) Occupational Outlook Handbook: Paralegals and Legal Assistants. Retrieved from https://www.bls.gov/ooh/legal/paralegals-and-legal-assistants.htm