Real estate paralegals may find employment with private law firms, corporations, banks, real estate agencies and title companies. They may represent buyers or sellers, residential or commercial properties, and may work with properties for sale, lease or rent. The average salary of a real estate paralegal as reported in the National Association of Legal Assistants’ 2010 survey was $53,281.
Specializing in real estate requires that the paralegal have knowledge about lease negotiation, financing options, lending requirements and documents, land use and bankruptcy. Strong written and verbal communication skills are important in this specialty. Real estate paralegals must also be highly organized and able to track a case from initial contact through closing.
The job responsibilities of a real estate paralegal may include:
- Preparing contracts, including lease or rental agreements and closing documents
- Facilitating communication between the lawyers for buyer and seller
- Negotiating contracts
- Reviewing title reports
- Monitoring financial transactions and foreclosures
- Preparing legal descriptions of land
- Preparing documents for eviction proceedings