Working in real estate can be lucrative, but what about the people behind the scenes? While attorneys handle closings, real estate paralegals are getting the documents together, working with the clients and title companies, and ensuring everything is in order for the big day. A real estate paralegal is also known as a property law paralegal, and it’s a very important role. A seamless closing depends on all the documents being properly put together, executed and recorded. That’s part of the real estate paralegal duties. It’s one of the best-paying specializations in the paralegal field.
Real Estate Paralegal Duties
The real estate paralegal job description includes a number of things. They work under the supervision of an attorney who specializes in real estate. Their job entails:
- Coordination of the closing
- Drafting general correspondence
- Keeping track of the calendar and due dates for documents
- Organizing closing funds
- Preparation of closing documents
- Preparation of the closing checklist
- Review, requests and orders for the certificates of title, title insurance, real property reports and more.
- Reviewing the sale and purchase contracts
This is not an exhaustive list, as real estate paralegal duties are consistently changing. A general real estate paralegal job description only provides a snapshot into what they do. Based on their level of experience, they may have additional real estate paralegal duties to complete.
The real estate paralegal salary is contingent on the level of real estate paralegal training they have, whether they have a real estate paralegal certificate, and where they work. On average, the real estate paralegal salary is about $50,666. This amount may fluctuate based on the area and demand. It is not uncommon for a real estate paralegal to start their own business and work for a number of real estate attorneys at the same time. Real estate paralegal jobs can be flexible, especially if the paralegal has a lot of experience.
Real Estate Paralegal Training
A real estate paralegal needs an educational background. They go through real estate paralegal training. When they obtain a bachelor’s degree, they can obtain a real estate paralegal certificate in paralegal studies focusing on real estate. There are also internships available to help them learn their craft. When studying, they must take courses with real estate related topics like title insurance, taxes, and escrow. Once the paralegal starts their career, the real estate paralegal duties will increase. This is partly due to building trust with the real estate attorneys and doing superior work.
It can be exciting to participate in a closing, or know they did the work to help someone make such a huge investment into their future. When problems arise prior to the closing, the real estate paralegal is the one who solves the problems and gets everything right. They work with the clients, helping them get the documents they need and serving as a liaison between the clients and the attorney when needed.
This is a pivotal role in the real estate industry, and closings may not be as organized if this role were not in place. Additionally, this can be very lucrative, especially if operating on their own. While people may wonder what does a real estate paralegal do, individuals interested in this career path understand the importance the role holds.
For more information, individuals interested in becoming a real estate paralegal should speak to someone in the profession, investigate the education criteria and decide next steps. This is a position that will always have a place within the industry. Taking advantage of the opportunities that could arise from choosing this career path could open the doors to advancement quickly, It’s definitely worth looking into.