Earlier this year, I met up with a commercial leasing agent to discuss how our businesses might be able to assist each other. One of the questions I asked the agent, was "what do agents think of lawyers?". He replied with "deal breakers". Sadly, that is how many lawyers are perceived and how many lawyers actually operate in property transactions, whether in a commercial/retail lease or sale of property.
Practical and Commercially Aware
Property lawyers have to walk a tightrope between sound advice that minimises risk and facilitating the transaction for the client. Your lawyer should appreciate and clearly understand your desired outcomes from the transaction. An understanding of what you want out of the deal will help your lawyer work out what things to fight for and what things are less relevant. Too often lawyers operate in a legal vacuum and give advice without considering the needs of a client.
Honesty and Frank Advice
We all make mistakes. This is a fact of life. However, I know for myself, that if I am about to make a mistake, I would rather have someone raise it with me than just let me continue along ignorant of the fact. Clients can have particularly ideas that are just not practicable or legally relevant or necessary. Your property lawyer should be honest with you and be willing to disagree (politely) with you when they feel it is timely to do so. This doesn't mean that you have to agree with your lawyer. Ultimately, your lawyer can't make the commercial decision for you. However, you are paying them for legal counsel, and you don't want a lawyer who turns out to be a 'yes-man'.
Co-operative and Commitment to Achieve the Goal
Property transactions, particularly sales and purchases, have a mutually beneficial outcome. You want to sell and the purchaser wants to buy. A sound property lawyer will be willing to co-operate with the other side to facilitate the transaction. A lawyer who is not looking after their client's interests will take an oppositional/aggressive approach to the transaction and quibble over each step with the other side. There will be times where a lawyer will need to assist their counterpart in someway (and vice versa) to allow the deal to reach its goal. Lawyers are part of a fraternity of professionals and they should approach each transaction with professionalism and mutual respect for their legal counterpart.
Similarly to being co-operative, a good property lawyer knows how to get the job done. They can think outside the box to solve the problem that is standing in the way. Conveyancing transactions are notorious for creating a crisis at the last minute. How would your property lawyer respond? Would they just shake their head and say that there's nothing that they can do? Or would your property lawyer be creative, work with the other side, and try something that has never been done before to close the deal for you?
Jonathan Marquet
Emil Ford & Co.
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