You may not consider hiring a real estate lawyer when you’re buying a house, but they can provide legal protections as well as advice. Real estate agents are not licensed to provide legal advice and cannot answer legal questions, even if they know the answer, without breaking the law.

Can real estate agents give investment advice?

It is not uncommon to hear the words “Purchasing a property is the biggest investment most people make in their life time.” The job of a real estate agent is to sell a person the biggest investment they will make in their life. A real estate agent is not permitted to give financial investment advice.

Can I cancel my contract with a real estate agent?

A: Yes, you can terminate the contract with your realtor. The terms by which the termination can be made should be spelled out in the contract. Most listing agreements however provide for the payment of commission if the seller terminates the agreement early or otherwise blocks or prohibits the sale of the property.

How can I get real estate advice?

If you are seeking advice, or wish to make a complaint, please contact the relevant state office:

1. Real Estate Institute of Australian Capital Territory, ph: 0499 881 168.
2. ACT: Access Canberra, ph: 13 22 81.
3. NSW: Office of Fair Trading, ph: 133 220.
4. Real Estate Institute of Northern Territory, ph: (08) 8981 8905.

Can real estate agents talk about crime?

Real estate agents aren’t allowed to talk about crime data, but the local police blotter or sex offender registry can help you figure out how safe a neighborhood may be.

Are there any tax tips for real estate agents?

If you’re in real estate it’s useful to brush up on specific tax tips for real estate agents so you can file correctly and on time. Whether you’re preparing your taxes on your own or having an accountant help you, these tips are useful to keep in the front of your mind.

Can a real estate agent have a 401k?

Many real estate professionals might not have a 401 (k), however, this doesn’t mean that you can’t save for retirement come tax time. One consideration is to fund an IRA. If you’re at the start of your career and still in a lower tax bracket, you might want to consider funding a Roth IRA.

Can a real estate agent get a tax break?

One consideration is to fund an IRA. If you’re at the start of your career and still in a lower tax bracket, you might want to consider funding a Roth IRA. Roth IRAs don’t provide a tax break for contributions, but when you pull the money out of the Roth IRA it’s usually tax-free.

Can a real estate agent give you real estate advice?

Remember they don’t represent you anymore. They can’t by law give you any advice. When the home inspection happens and the buyer wants you to fix X, Y, and Z your agent also will no longer be able to help you with guidance. Throughout the whole transaction, the agent cannot offer you any real estate advice.