Are you looking for expert contract review and negotiation for real estate deals?

Are you looking for expert contract review and negotiation for real estate deals?

How long does a typical closing process take?

  • Burdick Legal specializes exclusively in real estate law, focusing entirely on legal matters related to buying, selling, and managing property in Illinois, which allows the firm to provide highly expert, targeted guidance to clients.

  • Andrew Burdick, the founder, began his career as a real estate broker in 2006, gaining hands-on experience in the property market, including evaluating historic homes and understanding the emotional and financial impact of buying or selling real estate before practicing law.

  • He trained under a mentor with 40 years of experience in transactional law, learning that effective legal service involves proactive problem-solving, anticipating potential issues before they arise, and ensuring smooth transactions for clients.

  • Burdick Legal was established in 2013 with a singular focus on real estate law, providing dedicated and specialized services that differ from general law firms by concentrating solely on property transactions and legal complexities surrounding them.

  • The firm emphasizes ultra-responsive communication, ensuring clients receive timely updates and guidance, and translating complex legal jargon into plain English so that buyers and sellers can make informed decisions with confidence.

  • Burdick Legal specializes exclusively in real estate law, focusing entirely on legal matters related to buying, selling, and managing property in Illinois, which allows the firm to provide highly expert, targeted guidance to clients.

  • Andrew Burdick, the founder, began his career as a real estate broker in 2006, gaining hands-on experience in the property market, including evaluating historic homes and understanding the emotional and financial impact of buying or selling real estate before practicing law.

  • He trained under a mentor with 40 years of experience in transactional law, learning that effective legal service involves proactive problem-solving, anticipating potential issues before they arise, and ensuring smooth transactions for clients.

  • Burdick Legal was established in 2013 with a singular focus on real estate law, providing dedicated and specialized services that differ from general law firms by concentrating solely on property transactions and legal complexities surrounding them.

  • The firm emphasizes ultra-responsive communication, ensuring clients receive timely updates and guidance, and translating complex legal jargon into plain English so that buyers and sellers can make informed decisions with confidence.

  • At the closing stage, the firm prepares all legal documents and personally represents clients at the table, guiding them through each step to ensure a smooth, error-free finalization of the transaction and preventing last-minute complications.

  • Burdick Legal operates with a transparent, flat-rate pricing structure, providing clients with clear, upfront costs for services, avoiding unexpected legal fees, and ensuring clients can budget confidently for their real estate transaction.

  • For buyers, single-family home representation costs between $495 and $695, while condos or townhomes subject to HOAs range from $595 to $795, covering contract review, negotiation, and closing support, making legal services accessible and predictable.

  • For sellers, single-family home representation ranges from $295 to $595, while properties with HOA considerations range from $395 to $695, including title ordering, document preparation, and personal attendance at the closing table to ensure everything is handled correctly.

  • In complex scenarios, such as short sales, estates, trusts, unreleased mortgages, or properties with out-of-state logistics, fees may be higher, but Burdick Legal always agrees on a flat fee before representation begins to maintain transparency and trust.

  • Clients buying and selling simultaneously can receive a dual-transaction discount, making it more cost-effective and convenient to handle both transactions through the same trusted legal team.

  • Burdick Legal provides valuable client resources, including checklists for setting up utilities, guides for understanding Illinois property taxes, and a detailed list of closing documents required for sellers, helping clients prepare thoroughly for each step of the transaction.

  • Clients can easily reach the firm via phone, fax, email, or an online form, with in-person appointments available at their Oakbrook, IL office by scheduling ahead, offering flexibility and convenience for busy buyers and sellers.

  • The firm provides guidance on utility transfers and property tax handling, including advising that buyers should set up utilities in their name on possession day, sellers should cancel utilities after closing, and tax escrow refunds must be requested from lenders to ensure no issues arise post-closing.

  • The website clearly states that all information is for general purposes and does not constitute legal advice, highlighting Burdick Legal’s commitment to ethical practice, client education, and compliance while providing professional legal services.

Burdick Legal, established in 2013 by attorney Andrew Burdick, operates as a specialized law practice dedicated exclusively to real estate law in Illinois, offering trusted counsel from contract to closing. The firm's foundational philosophy is rooted in providing clients with clarity and confidence throughout the intricate processes of buying or selling property, emphasizing ultra-responsive communication and the translation of complex legal terminology into plain English. Burdick Legal – Trusted Illinois Real Estate Counsel Burdick Legal provides focused, reliable legal representation for real estate transactions throughout Illinois. From contract to closing, we offer the clarity, confidence, and responsiveness clients need to navigate the property market smoothly and successfully. Founded in 2013 by attorney Andrew Burdick, the firm is built on real-world experience and a deep understanding of real estate law. Andrew’s journey began as a licensed real estate broker in 2006, where he gained firsthand insight into historic properties, market dynamics, and the emotional complexities of buying and selling homes. This practical foundation, combined with formal legal training under a mentor with over 40 years of transactional experience, shaped his proactive approach to solving problems before they arise. Burdick Legal Burdick Legal focuses exclusively on real estate law, ensuring every client benefits from specialized knowledge and personalized attention. The firm prides itself on ultra-responsive communication and the ability to translate complex legal concepts into plain English—so clients always know where they stand.. Andrew Burdick's unique background distinguishes his practice; his journey began not in law but directly in the real estate market, working as a broker starting in 2006. This early experience provided him with a practical, ground-level understanding of the industry, including the evaluation of historic properties and an appreciation for the significant emotional weight that accompanies property transactions. This market-centric perspective informs his legal approach, ensuring that his counsel is always attuned to the practical realities his clients face.

Do you need comprehensive legal support as a home buyer in Illinois?

Problem-Solving Approach to Real Estate Law

Beyond its transactional expertise, Burdick Legal emphasizes client education, ensuring that individuals understand not only the legal requirements but also the practical aspects of property ownership and transfer. The firm provides guidance on utility setup, tax obligations, and documentation needed for closing, helping clients navigate these often-overlooked aspects with confidence. For example, Illinois property taxes are paid in arrears, and Burdick Legal educates buyers on credits owed by sellers for the portion of the year they owned the property. The firm also advises sellers on refund procedures for escrow accounts and other post-closing considerations. By providing these resources, Burdick Legal empowers clients to make informed decisions and reduces the likelihood of errors or delays in their real estate transactions.

Problem-Solving Approach to Real Estate Law

Burdick Legal also emphasizes practical support and client education. The firm provides detailed resources for tasks that extend beyond legal paperwork, such as transferring utilities, understanding property tax obligations, and preparing necessary closing documents. In Illinois, property taxes are paid in arrears, and buyers typically receive credits for the portion of the year that the seller owned the property. Burdick Legal assists clients in understanding these adjustments, including how to request refunds from escrow accounts if needed. Utility setup guidance ensures that buyers can seamlessly take possession of their new home without delays, while sellers are reminded to cancel accounts effectively after closing. This attention to logistical details reduces stress and ensures a smoother transition for both parties.

Problem-Solving Approach to Real Estate Law

What is included in flat-fee pricing for sellers?

For clients purchasing or selling properties governed by homeowners' associations, the firm reviews HOA declarations, bylaws, budgets, and financial statements to ensure the fiscal health of the association and to protect the client from unexpected liabilities. Inspection issues are also carefully managed; Burdick Legal reviews inspection reports and drafts legal correspondence to negotiate repairs or credits, helping clients avoid costly surprises. At closing, the firm prepares all necessary documents and provides personal representation at the table, guiding clients through each step to ensure the transaction is completed efficiently and accurately. The firm also offers resources to assist clients with practical matters such as utility setup, understanding property taxes, and compiling necessary closing documents like deeds, affidavits of title, bills of sale, transfer tax documents, and final water bills.

Real Estate Lawyer With Experience Handling HOAs

Burdick Legal also places a strong emphasis on risk management and due diligence, which are critical components of any real estate transaction. Every property carries unique risks, whether it is an older home with potential structural issues, a property with unresolved liens, or land subject to zoning restrictions and easements. The firm conducts meticulous reviews of all relevant legal documents to uncover these risks early in the process, allowing clients to make informed decisions before committing to a purchase or sale. This proactive approach not only protects clients from unforeseen legal or financial burdens but also provides leverage in negotiations, enabling buyers to request repairs, credits, or adjustments to the purchase price when issues are identified. Sellers benefit similarly, as the firm ensures that all disclosures and legal obligations are thoroughly addressed, reducing the risk of post-closing disputes or liability claims.

Real Estate Lawyer With Experience Handling HOAs
What should sellers prepare before listing a property?

Furthermore, Burdick Legal's value proposition is anchored in its understanding of the broader ecosystem of a real estate transaction. Andrew Burdick's experience as a broker gives him inherent insight into the motivations and pressures facing real estate agents, allowing for more effective and collaborative communication with the client's brokerage team. He understands the timeline sensitivities of mortgage lenders and can prioritize document turnaround to meet strict underwriting deadlines, preventing costly delays. His established relationships with reputable title companies and surveyors ensure reliable partners are involved in the process. The firm's structured yet flexible fee model for complex situations, like estates or short sales, reflects a realistic appraisal of the additional work required, which might include coordinating with multiple heirs, petitioning probate courts, or engaging in protracted negotiations with a seller's loss mitigation department. The resources provided, such as the detailed checklist for sellers, are born from repeated experience with the small yet critical details that can delay a closing-like a forgotten final water meter reading or a missing signature on a local transfer tax form. By managing these minutiae, Burdick Legal provides not just legal protection but a comprehensive stewardship of the entire transaction, ensuring that the path to closing is as smooth and predictable as possible, thereby honoring the significant emotional and financial investment each client places in the process of buying or selling a home.

 

Lawn signs advertising houses for sale

Real estate agents and real estate brokers are people who represent sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients.[1] Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions.

Categories of representation

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A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region.[2]

Real estate licensing and education

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In most jurisdictions in the United States, a person must have a license to perform licensed activities, and these activities are defined within the statutes of each state. The main feature of the requirement for having a license to perform those activities is the work done "for compensation". Hence, hypothetically, if a person wants to help a friend out in either selling or buying a property, and no compensation of any kind is expected in return, then a license is not needed to perform all the work. However, since most people would expect to be compensated for their efforts and skills, a license would be required by law before a person may receive remuneration for services rendered as a real estate broker or agent. Unlicensed activity is illegal and the state real estate commission has the authority to fine people who are acting as real estate licensees, but buyers and sellers acting as principals in the sale or purchase of real estate are usually not required to be licensed. It is important to note that in some states, lawyers handle real estate sales for compensation without being licensed as brokers or agents. However, even lawyers can only perform real estate activities that are incidental to their original work as a lawyer. It cannot be the case that a lawyer can become a seller's selling agent if that is all the service that is being requested by the client. Lawyers would still need to be licensed as a broker if they wish to perform licensed activities. Nevertheless, lawyers do get a break in the minimum education requirements (for example, 90 hours in Illinois).[3]

In all states, the real estate licensee must disclose to prospective buyers and sellers the nature of their relationship [4]

Specific representation laws

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Some U.S. state real estate commissions – notably Florida's[5] after 1992 (and extended in 2003) and Colorado's[6] after 1994 (with changes in 2003) created the option of having no agency or fiduciary relationship between brokers and sellers or buyers.

As noted by the South Broward Board of Realtors, Inc. in a letter to State of Florida legislative committees:

"The Transaction Broker crafts a transaction by bringing a willing buyer and a willing seller together and provides the legal documentation of the details of the legal agreement between the same. The Transaction Broker is not a fiduciary of any party, but must abide by the law as well as professional and ethical standards." (such as NAR Code of Ethics).

The result was that, in 2003, Florida created a system where the default brokerage relationship had "all licensees ... operating as transaction brokers, unless a single agent or no brokerage relationship is established, in writing, with the customer"[7][8] and the statute required written disclosure of the transaction brokerage relationship to the buyer or seller customer only through July 1, 2008.

In the case of both Florida[8] and Colorado,[6] dual agency and sub-agency (where both listing and selling agents represent the seller) no longer exist.

Other brokers and agents may focus on representing buyers or tenants in a real estate transaction. However, licensing as a broker or salesperson authorizes the licensee to legally represent parties on either side of a transaction and providing the necessary documentation for the legal transfer of real property. This business decision is for the licensee to decide. They are fines for people acting as real estate agents when not licensed by the state.

In the United Kingdom, an estate agent is a person or business entity whose business is to market real estate on behalf of clients. There are significant differences between the actions, powers, obligations, and liabilities of brokers and estate agents in each country, as different countries take markedly different approaches to the marketing and selling of real property.

The difference between salespersons and brokers

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Before the Multiple Listing Service (MLS) was introduced in 1967, when brokers (and their licensees) only represented sellers by providing a service to provide legal documentation on the transfer real property, the term "real estate salesperson" may have been more appropriate than it is today, given the various ways that brokers and licensees now help buyers through the legal process of transferring real property. Legally, however, the term "salesperson" is still used in many states to describe a real estate licensee.[citation needed]

Real estate broker (or, in some states, qualifying broker)

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After gaining some years of experience in real estate sales, a salesperson may decide to become licensed as a real estate broker (or Principal/qualifying broker) in order to own, manage, or operate their own brokerage. In addition, some states allow college graduates to apply for a broker's license without years of experience. College graduates fall into this category once they have completed the state-required courses as well. California allows licensed attorneys to become brokers upon passing the broker exam without having to take the requisite courses required of an agent. Commonly more coursework and a broker's state exam on real estate law must be passed. Upon obtaining a broker's license, a real estate agent may continue to work for another broker in a similar capacity as before (often referred to as a broker associate or associate broker) or take charge of their own brokerage and hire other salespersons (or broker licensees). Becoming a branch office manager may or may not require a broker's license. Some states allow licensed attorneys to become real estate brokers without taking any exam. In some states, there are no "salespeople" as all licensees are brokers.[9]

Other names for services that a broker can provide

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Real Estate Services are also called trading services in British Columbia.[10]

Real Estate Investment Advisor and Guide[11]

Real Estate Property Advisor

Real estate brokers and sellers

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Flat-fee and unrepresented real estate transactions

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Some home buyers or sellers choose to forgo representation and proceed without a real estate agent. In these cases, the unrepresented party assumes full responsibility for navigating the transaction, including showings, negotiations, and paperwork.

For example, some home sellers use “flat-fee brokers” or “limited-service agents” who offer minimal services and avoid establishing a full agency relationship. These agents charge a fixed fee—often around $500[12]—to list the property in the multiple listing service (MLS), while the seller represents themselves during showings and negotiations. This approach reduces total commission costs but limits professional guidance and fiduciary protections associated with full-service agency.

Brokerage commissions

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In consideration of the brokerage successfully finding a buyer for the property, a broker anticipates receiving a commission for the services the brokerage has provided. Usually, the payment of a commission to the brokerage is contingent upon finding a buyer for the real estate, the successful negotiation of a purchase contract between the buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller. Under common law, a real estate broker is eligible to receive their commission, regardless of whether the sale actually takes place, once they secure a buyer who is ready, willing, and able to purchase the dwelling.[13]

Economist Steven D. Levitt famously argued in his 2005 book Freakonomics that real estate brokers have an inherent conflict of interest with the sellers they represent because their commission gives them more motivation to sell quickly than to sell at a higher price. Levitt supported his argument with a study finding brokers tend to put their own houses on the market for longer and receive higher prices for them compared to when working for their clients. He concluded that broker commissions will reduce in future.[14] A 2008 study by other economists found that when comparing brokerage without listing services, brokerage significantly reduced the average sale price.[15]

RESPA

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Real estate brokers who work with lenders can not receive any compensation from the lender for referring a residential client to a specific lender. To do so would be a violation of a United States federal law known as the Real Estate Settlement Procedures Act (RESPA). RESPA ensures that buyers and sellers are given adequate notice of the Real Estate settlement process.[16]

Realtor

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In the United States, the term realtor is trademarked by the National Association of Realtors, which uses it to refer to its active members, who may be real estate agents or brokers.[17][18][19] In Canada, the trademark is used by members of the Canadian Real Estate Association.[20] Both organizations advise against the use of realtor as a generic synonym for real estate agent.[20]

Continuing education

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States issue licenses for an annual or multi-year period and require real estate agents and brokers to complete continuing education prior to renewing their licenses. For example, California licensees must complete 45 hours of continuing education every four years in topics such as agency, trust fund handling, consumer protection, fair housing, ethics, and risk management.[21]

Organizations

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Several notable groups exist to promote the real estate industry and to assist professionals.

  • The National Association of Realtors (NAR)
    • The Realtor Political Action Committee (RPAC) is the lobbying arm of the NAR.
  • The National Association of Real Estate Brokers (NAREB)
  • The Real Estate Institute of Canada (REIC)[22][23]
  • The Real Estate Roundtable[24]

Notable agents and brokers

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  • Alice Mason[25]

See also

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  • Buyer brokerage
  • Closing (real estate)
  • Estate (land)
  • Exclusive buyer agent
  • Flat-fee MLS
  • Home inspection
  • Index of real estate articles
  • Investment rating for real estate
  • Listing contract
  • Mortgage broker
  • Property manager
  • Property Management
  • Real estate contract
  • Real estate development
  • Real estate investing
  • Real estate settlement company
  • Strata management

References

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  1. ^ "Real Estate Professionals Explained: Agent, Broker, REALTOR". Real Estate News and Advice | Realtor.com. 2014-03-10. Retrieved 2018-12-27.
  2. ^ "How Much Is Real Estate Agent Commission?". Bankrate. Retrieved 2018-12-20.
  3. ^ "FAQs". www.illinoisrealtors.org. Illinois Realtors. Retrieved August 16, 2018.
  4. ^ "Realtor Code of Ethics - Disclosure" (PDF). Real Estate Association Standards of Business Practice.
  5. ^ "Statutes & Constitution :View Statutes : Online Sunshine". Leg.state.fl.us. Retrieved 2014-02-10.
  6. ^ a b "Outline of types of representation available in Colorado, including Transaction Brokerage" (PDF). Dora.state.co.us. Retrieved 2014-02-10.
  7. ^ Evans, Blanche (2 July 2003). "Florida Implements Default Transactikn Brokerage Statute". realtytimes.com/. Realty Times. Retrieved 2 February 2014.
  8. ^ a b The 2007 Florida Statutes. Chapter 475 Real Estate Brokers — Part I; Real Estate Brokers, Sales Associates, and Schools (ss. 475.001-475.5018), Section 475.278 Authorized brokerage relationships; presumption of transaction brokerage; required disclosures (1) Brokerage Relationships: (a) Authorized brokerage relationships. — A real estate licensee in this state may enter into a brokerage relationship as either a transaction broker or as a single agent with potential buyers and sellers. A real estate licensee may not operate as a disclosed or non-disclosed dual agent ... (b)Presumption of transaction brokerage. — It shall be presumed that all licensees are operating as transaction brokers unless a single agent or no brokerage relationship is established, in writing, with a customer."
  9. ^ "Real Estate Broker's License: Examination and Licensing Application Requirements". New Mexico Administrative Code. State of New Mexico Commission of Public Records. 21 January 2021. Archived from the original on 22 July 2019. Retrieved 22 July 2019.
  10. ^ "Real Estate Laws Website". BC Real Estate Laws - Pat 1 Trading Services.
  11. ^ max (2023-05-10). "Real Estate Investing For Beginners | Maximos". Property Turkey | Real Estate for Sale | Apartments Villas Investment. Retrieved 2026-01-08.
  12. ^ Quigley, John M. (2000). "A Decent Home: Housing Policy in Perspective". Brookings-Wharton Papers on Urban Affairs. 2000 (1): 53–88. CiteSeerX 10.1.1.369.6806. doi:10.1353/urb.2000.0011. ISSN 1533-4449. S2CID 154714417.
  13. ^ "Getting a Brokerage Commission Paid | New York Law Journal".
  14. ^ Daniel Gross (20 February 2005). "Why a Real Estate Agent May Skip the Extra Mile". The New York Times. Archived from the original on 29 May 2015.
  15. ^ B. Douglas Bernheim; Jonathan Meer (13 January 2012). "Do Real Estate Brokers Add Value When Listing Services Are Unbundled?". The National Bureau of Economic Research. Working Paper Series. doi:10.3386/w13796. Retrieved 3 September 2016.
  16. ^ "CFPB consumer laws and regulations RESPA" (PDF). Consumer Financial Protection Bureau. Retrieved 13 October 2021.
  17. ^ Buch, Clarissa (20 April 2023). "What Is a Realtor? A Member of the National Association of Realtors". Realtor.com. National Association of Realtors. Retrieved 17 June 2023.
  18. ^ "Understanding the Difference Between a Realtor and a Real Estate Agent". The CE Shop. Retrieved 19 June 2023.
  19. ^ Colestock, Stephanie (August 13, 2021). "Realtor vs. real estate agent: What's the difference?". Fox Business. Retrieved 20 June 2023.
  20. ^ a b "Using the REALTOR® Trademark in Advertisements - CREA". 12 November 2020.
  21. ^ "Continuing Education Requirements". Ca.gov. California Department of Real Estate. Retrieved 26 June 2023.
  22. ^ "Professional Recognition of our Programs". Real Estate Division at Sauder, UBC. January 8, 2019.
  23. ^ "Real Estate Institute of Canada (REIC)". Thomson Reuters Canada Limited. Retrieved 8 January 2019.
  24. ^ "Lobbying Spending Database: National Assn of Realtors : 2007". Retrieved 2008-10-25.
  25. ^ Kodé, Anna (10 November 2024). "A Real Estate Queen and the Secret She Couldn't Keep Hidden". The New York Times.
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  • Media related to Real estate agents at Wikimedia Commons