Patent Publication Number: US-2016232628-A1

Title: Real estate brokerage method and system

Description:
CROSS REFERENCE TO RELATED APPLICATIONS 
     This application is related and claims priority to US Provisional Patent Application Ser. No. 62/113,205 filed Feb. 6, 2015 and entitled “Real Estate Brokerage Method and System”, which is hereby incorporated herein by reference in its entirety for all purposes. 
    
    
     TECHNICAL FIELD 
     The present invention relates to a method and system of real estate brokerage for lawyers and real estate agents to allocate responsibility and remuneration for a real estate sale and/or purchase transaction. More specifically, the present invention relates to a method of real estate brokerage for lawyers and real estate agents to determine a remuneration division structure to divide a commission from a real estate transaction and to divide tasks and responsibilities associated with a real estate transactions based on the commission division structure. 
     BACKGROUND OF THE INVENTION 
     The purchase and sale of real estate and/or businesses (hereinafter referred to as “property”) typically involves a complex and involved transaction. In a transaction to sell property sellers typically have to: list and market the property, determine an asking price, negotiate the sale price, review terms in an offer for purchase and sale, provide for and complete condition of sale terms, attend to the legal conveyancing for transfer of the property to the purchaser, etc. Similarly, in a transaction to purchase property, purchasers may typically have to: determine a list of potential properties, research information about the neighbourhoods of potential properties (i.e. school, growth potential, crime rate etc.), negotiate the purchase price, draft an offer for purchase and sale agreement, obtain financing, review and execute conveyance or other transfer documents, etc. For both the purchaser and seller, a property transaction is typically a complex process that involves large sums of money, stringent legal requirements and the potential for costly mistakes. 
     Two professional industries exist to help both purchasers and sellers in their acquisition and sale of property. Real estate agents (also often referred to as REALTORS®) are available to aid in the marketing and advertising of the property for sellers, and advise purchasers of properties available for sale. Real estate lawyers (also interchangeably referred to as attorneys or lawyers) are typically available to aid in the review of legal documents, such as an offer for sale and purchase (if consulted by a purchase or seller or real estate agent), and assist in the completion of the conveyance of a property from a seller to the purchaser. In some cases, and in certain states, the closing of a real estate transaction may also involve licensed escrow agents and title companies. It is also possible for the foregoing functions to be conducted by real estate lawyers. 
     A real estate agent&#39;s business model may typically be based on the realtor developing systems to consistently obtain clients and generate property listings. Referrals from other individuals are often the most highly regarded and preferred business a real estate agent can obtain. The most successful real estate agents typically have thriving referral networks from their own network of contacts or contact database (i.e. past and current clients, friends and family). However, typically not many real estate agents enjoy steady referrals from one particular individual or entity. Therefore there remains a need for methods and systems that allow real estate agents to expand their sources of referrals. 
     It is not uncommon for law firms and lawyers, particularly those with a real estate and/or estates practice, to require professional services provided by a real estate agent on behalf of their clients. For example, in an estate sale, a lawyer may want, or be required, to hire a real estate agent to help advertise and promote a property for sale. In a conventional real estate transaction, described in detail below, the lawyer&#39;s involvement prior to the property&#39;s conveyance may be minimal. In addition, the lawyer may not typically be able to receive a portion of the commission in the sale of the property. Instead, the lawyer may typically charge a professional legal services and/or conveyancing fee directly to the property seller or client in addition to the commission typically paid by the seller to the real estate agent on the sale of the property. 
     Accordingly, there remains a need for methods and systems to provide for lawyers, in particular real estate lawyers, and real estate agents to facilitate and govern cooperative action between the lawyer and real estate agent for a client from the beginning of a property transaction, including a timely review of a legally binding contract by the lawyer, and preferably at no additional cost to the client. 
     SUMMARY OF THE INVENTION 
     It is an object of the present invention to provide a method and system to allocate responsibilities between lawyers and realtors acting cooperatively, and to divide commission remuneration for a property transaction that address some of the limitations of the prior art. 
     According to one embodiment of the present invention, a method of real estate brokerage is provided, the method comprising: identifying a client, the client owning a property; identifying a lawyer representing the client; identifying a real estate agent representing the client; defining a division of a commission payable on sale of the property between the lawyer and the real estate agent; promoting the sale of the property by at least one of the lawyer and the real estate agent based on the division of the commission; conveying the property to a buyer by the lawyer; and where applicable, with the assistance of escrow and/or title company agents, and distributing the commission between the lawyer and the real estate agent according to the division. 
     According to another embodiment of the invention, a further method of real estate brokerage is provided, the method comprising: identifying a client, the client purchasing a property; identifying a lawyer representing the client; identifying a real estate agent representing the client; defining a division of a commission payable on purchase of the property between the lawyer and the real estate agent; showing the property by at least one of the lawyer and the real estate agent based on the division of the commission; conveying the property to the client by the lawyer, and where applicable with the assistance of escrow and/or title company agents; and distributing the commission between the lawyer and the real estate agent according to the division. In a further embodiment of the invention, a non-transitory computer-readable medium storing computer-executable instructions to implement a method of real estate brokerage is provided. In one such embodiment, the computer-readable medium comprises computer-executable instructions to: identify a client, the client owning or purchasing a property; identify a lawyer representing the client; identify a real estate agent representing the client; define a division of a commission payable on at least one of sale or purchase of the property between the lawyer and the real estate agent; promote or show the property by at least one of the lawyer and the real estate agent based on the division of the commission; convey the property to a buyer of the property by the lawyer; and distribute the commission between the lawyer and the real estate agent according to the division. 
     In a particular such embodiment, the computer-executable instructions to identify a lawyer representing the client comprise instructions to generate a retainer agreement document and recording execution of the retainer agreement document. In another such embodiment, the computer-executable instructions to identify a real estate agent representing the client comprise instructions to generate an engagement agreement document and recording execution of the engagement agreement document. 
     Further advantages of the invention will become apparent when considering the drawings in conjunction with the following detailed description. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
       The present invention will now be described with reference to the accompanying drawing figures, in which: 
         FIG. 1  is a schematic relationship diagram illustrating the stakeholders involved in a property transaction for the sale of a property, in accordance with an aspect of a prior art real estate relationship model. 
         FIG. 2  illustrates an exemplary series of operations associated with an aspect of a prior art conventional real estate transaction model. 
         FIG. 3  is a schematic relationship diagram illustrating the stakeholders involved in a property transaction for the sale of a property in accordance with an embodiment of the invention. 
         FIG. 4  illustrates an exemplary series of operations associated with the sale of a property in accordance with an embodiment of the invention. 
         FIG. 5  is a relationship diagram illustrating the stakeholders involved in a property transaction for the purchase of a property in accordance with an embodiment of the invention. 
         FIG. 6  illustrates an exemplary series of operations associated with the purchase of a property in accordance with an embodiment of the invention. 
     
    
    
     Like reference numerals refer to corresponding parts throughout the several views of the figures. 
     DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS 
       FIG. 1  is a relationship diagram depicting a seller client  2 , a real estate agent  4  and a lawyer  6  according to an aspect of a prior art conventional real estate transaction model. Client  2 , is an individual, corporation or otherwise legal or equitable entity seeking to sell a property. Client  2  forms an agency relationship  8  with a real estate agent  4  by executing an agency contract, such as a typical listing agreement whereby the real estate agent is contracted to act as the seller client&#39;s agent to list and advertise the seller&#39;s property for sale. The client  2  may also typically enter into a separate attorney-client relationship  10  with a real estate or conveyancing lawyer  6  to convey the property after a sale agreement is entered into with a buyer by entering into a separate retainer agreement with the lawyer  6 . Typically, in a conventional business model, the client  2  would need to locate and contract with the real estate agent  4  and lawyer  6  separately, and may typically not even retain the lawyer  6  until after a sale agreement is negotiated or entered into by the client  2 . 
       FIG. 2  illustrates a series of operations that may typically be completed during a conventional real estate transaction. The first operation  20  of  FIG. 2  comprises identifying a client  2  that wishes to sell a property. 
     The second operation  22  of  FIG. 2  comprises identifying a real estate agent  4  to represent client  2 . In the second operation  22 , client  2 , through advertisements, family, friends or past experience may select a real estate agent  4  to help in the sale of client&#39;s  2  property. Client  2  and real estate agent  4  will, among other tasks, typically negotiate the commission to be paid to real estate agent  4  upon successful sale of the property. In some jurisdictions, an industry standard typically provides for a commission of approximately 6% of the sale price of the property to be paid to the real estate agent  4  as the commission. In addition to negotiating and agreeing to a commission, client  2  and real estate agent  4  may typically outline the tasks real estate agent  4  will complete in association with the sale of the property. An exemplary and series of tasks which the real estate agent  4  may agree to be performed in association with the sale of a property may include: promoting the property through advertisements such as posting on MLS® or another listing service or publication promoting the property through real estate agent&#39;s personal and professional network, conducting open houses, showing the property to prospective purchasers, representing client  2  in negotiations with prospective purchasers, reviewing and advising on offers for sale and purchase of the property, receiving deposit money, contact with clients providing feedback from property showings, providing market updates to clients and providing primary client contact availability to manage client expectations, questions and emotions, for example. To formalize the agency relationship  8  to have the real estate agent  4  represent the client  2 , client  2  and real estate agent  4  may execute a listing agreement or other suitable agency agreement or contract defining the services to be provided by the real estate agent  4  in representing the client  4 . 
     The third operation  24  of  FIG. 2  comprises promoting the property by the real estate agent  4 . Promoting the property may typically comprise performing the series of tasks that real estate agent  4  agreed to in the second operation  22 . In a conventional property sale transaction, the third operation  25  is typically completed when client  2  has an executed purchase and sale agreement with a purchaser. At such stage in a conventional business model, the purchase and sale agreement is typically ready for conveyancing to transfer ownership to a purchaser. 
     The fourth operation  26  of  FIG. 2  comprises identifying a lawyer  6 , or law firm, to represent client  2 . Client  2 , such as through the referral of real estate agent  4 , advertisements, family, friends or past experiences, typically selects lawyer  6  to complete the conveyance of the client&#39;s  2  property. Client  2  and lawyer  6  may typically negotiate a professional service fee for the lawyer&#39;s assistance completing the conveyance. In some jurisdictions a professional fee charged for conveyancing or legally transferring a property from seller to buyer may typically be approximately $600-$1500 for a simple conveyance of a residential property, for example. To formalize the attorney-client relationship  10 , client  2  and lawyer  6 , may typically execute a retainer agreement or other suitable professional representation agreement, for example. 
     The fifth operation  28  of  FIG. 2  comprises conveying the property to a purchaser. In general, conveying the property to the buyer or purchaser may in some jurisdictions typically comprise: reviewing the purchase and sale agreement, reviewing a property disclosure statement (if any), searching and reviewing title of the property, providing undertakings, depositing purchase funds into trust, filing appropriate forms one or more land title offices, paying disbursements, preparing a statement of account, and paying the remainder of the funds to the selling client  2 . The fifth operation may typically further comprise the operation  28 - 1  of paying commissions to the real estate agent. Such commission may typically be divided between the client&#39;s real estate agent  4  and a real estate agent acting for the buyer, if any. 
       FIG. 3  is a relationship diagram depicting a seller client  102 , real estate agent  104  and lawyer  106 , in accordance with an embodiment of the present invention. Client  102  may typically be an equivalent property seller to the seller client identified as client  2  in the conventional example illustrated in  FIG. 1 . In one aspect of the invention, client  102  enters into an attorney-client relationship  110  with lawyer  106 . Attorney-client relationship  110  may desirably provide lawyer  106  with broad authority to supervise and assist in promotion and negotiation phases of the property sale and may further desirably define a commission based payment structure for compensation of the lawyer  106  upon completion of the sale of the property. Client  102  also enters into an agency relationship  108  with real estate agent  104 . In one embodiment, agency relationship  108  may desirably provide that the fees associated with real estate agent  104 &#39;s services will be paid upon sale of the property based on the fee set forth in the agency agreement entered into by client  102  with real estate agent  104 . As shown in  FIG. 3 , lawyer  106  and real estate agent  104  enter into a relationship  112  for co-representation of the client  102 . In one embodiment, relationship  112  may comprise an agreement, such as a written or electronically represented written agreement, defining a division of tasks involved in a property transaction and/or defining a division of commission remuneration between the lawyer  106  and real estate agent  104  upon sale of the property. 
       FIG. 4  illustrates an exemplary series of operations according to an embodiment of the present invention. The first operation  200  of  FIG. 4  comprises identifying a client  102 . In one embodiment, Client  102  is a seller that wishes to sell a property. 
     The second operation  202  of  FIG. 4  comprises identifying a lawyer  106  representing client  102 . Client  102  enters into an attorney-client relationship  110  with lawyer  106  to represent client  102 . In one aspect of the invention, in forming relationship  110 , client  102  may desirably retain and/or provide lawyer  106  with the authority to represent and act on behalf of client  102  for the purpose of taking all necessary and prudent steps to sell and transfer the property, including marketing, advertising, negotiating and acting on the client&#39;s  102  behalf with prospective purchasers and their lawyers or agents. In a preferred embodiment, client  102  may provide instructions that lawyer  106  may share its commission with a real estate agent  104  on the basis of a separate agency agreement (also commonly known as listing agreement) being entered into between real estate agent  104  and client  102 . In one such preferred embodiment, client  102  may authorize lawyer  106  to permit real estate agent  104  to perform some of the tasks involved in selling the property such as marketing and advertising the property, showing the property to prospective buyers, and/or negotiating a sale contract for example. In some embodiments, lawyer  106  may be given the option to perform all the tasks involved in the property transaction alone without the help of a real estate agent  104 . In one such embodiment, lawyer  106  may be retained to perform all the necessary tasks associated with sale of a property, such as promoting the property, negotiating a purchase agreement, and conveying the property to a purchaser, for example. Typically, operation  202  may desirably comprise executing a retainer agreement between the client  102  and lawyer  106  which defines the tasks to be completed in association with the sale of the property, and further defining the remuneration to be paid to the lawyer for such services. 
     In one such embodiment, operation  202  further comprises defining the remuneration to be paid by the client  102  for the provision of services by lawyer  106 . In one such embodiment, client  102  may agree to pay lawyer  106  a portion of the proceeds in the sale of the property as a commission on the sale price of the property. The commission may be negotiated between lawyer  106  and client  102  and in one exemplary embodiment may typically range from 0-10% of the sale price of the property. In another exemplary embodiment, the commission may be approximately 3% of the sale price of the property. 
     In some embodiments, relationship  110  may desirably define that lawyer or law firm  106  may only exclusively represent one party in the transaction associated with the sale of the property. That is law firm  106  may only represent client  102 , and may not form a relationship, such as a limited dual agency relationship, with a purchaser. 
     In some embodiments, relationship  110  may be formalized in the form of a retainer agreement, contract or other legal agreement, such as for example a written or electronically represented written agreement, between lawyer  106  and client  104 . Accordingly, such retainer agreement may desirably define the agreed to terms and conditions of relationship  110  between the lawyer  106  and client  102 , including the commission to be paid to the lawyer  106  for services associated with the sale of the property. 
     In some embodiments, client  102  may be already be represented by law firm  106 . For example, client  102  may represent an estate as executor/trustee and law firm  106  may be retained to deal with the estate probate and disposition of the property. In another embodiment, law firm  106  may be a trustee and wishes to sell a property on behalf of its client beneficiaries  102 . In another embodiment, law firm  106  may be acting for a foreclosing lender who wishes to liquidate a property owned by client  102 . 
     The third operation  204  of  FIG. 4  comprises identifying a real estate agent  104  representing client  102 . In one embodiment, identifying a real estate agent  104  representing the client  102  comprises a client  102  and real estate agent  104  entering into an agency relationship  108 , such as a written agreement or electronically represented written agreement, for example. In some embodiments, identifying real estate agent  104  may involve lawyer or law firm  106  searching a realtor database of realtors willing to form a relationship  112  with the lawyer  106 . In some embodiments, client  102  may know a real estate agent  104  that is willing to engage in relationship  112  with the lawyer  106  for cooperatively providing services associated with sale of the property. 
     In one such embodiment, operation  204  further comprises defining the remuneration to be paid to the real estate agent for the provision of services in the sale of a property. In a preferred embodiment, real estate agent  104  agrees to be paid a portion of the total lawyer&#39;s  106  commission based on the amount set forth in the agency agreement between the real estate agent  104  and client  102 . In one such embodiment, the division of the commission and amount to be paid to each of the real estate agent  104  and lawyer  106  is determined by the fourth operation  206  and is defined in the relationship  112  between the real estate agent  104  and lawyer  106 . 
     In some embodiments, relationship  108  will provide that real estate agent  104  may only exclusively represent one party in the transaction associated with the sale of the property. That is, real estate agent  104  may only represent seller client  102 , and may not form a relationship, such as a limited dual agency relationship, with a purchaser. 
     In some embodiments, client  102  and real estate agent  104  may formalize their agency relationship  108  such as by completing a listing agreement or other agency agreement, such as a written agreement or electronically represented written agreement, which defines the agreed to terms and conditions of agency relationship  108 , such as for the purposes of listing and/or marketing a property, for example. 
     The fourth operation  206  comprises defining a division of commission between lawyer  106  and real estate agent  104 . In some embodiments, such as where real estate agent  104  is involved in the property sale transaction, real estate agent  104  will share a portion of the commission paid to lawyer  106  such as to be divided in proportion with the responsibility of each of the real estate agent  104  and lawyer  106  for performing tasks associated with the property sale, and such division may be defined at operation  206 . On one such embodiment, that portion of the commission payable to real estate agent  104  may be set forth in the agency agreement, and that portion of the commission payable to the lawyer  106  will be set forth in the retainer agreement. 
     In one embodiment, lawyer  106  and real estate agent  104  may negotiate and define a division of commission or commission sharing term forming the basis of relationship  112 . In some embodiments, the division of commission or commission sharing term may comprise a fixed sum to be paid to one or more of the lawyer  106  and real estate agent  104 . In some embodiments, the division of commission or commission sharing term may comprise a percentage of a total commission paid to lawyer  106  upon sale of the property and defined in relationship  110  between the lawyer  106  and client  102 . 
     In some embodiments, a division of commission or commission sharing term may further comprise lawyer  106  and real estate agent  104  dividing a series of required tasks associated with the sale of the property between themselves. In one such embodiment, the division of tasks may be based on the division of the commission. In one embodiment, a non-limiting exemplary series of tasks associated with the sale of a property that may be divided between the lawyer  106  and real estate agent  104  may comprise:
         Creating a market analysis report and determining asking price for the property;   Marketing the property, such as, taking photos and/or developing websites or advertisements;   Listing the property, such as, placing an MLS® or other listing for the property;   Showing the property to prospective purchasers, such as, conducting open houses, providing access to the property;   Reviewing a title document to the property;   Reviewing an offer for the sale and purchase of property from the prospective purchaser and advising the client  102  or negotiating a counter-offer; and   Receiving trust money from a prospective purchaser.       

     In some embodiments, the division of commission or commission sharing terms and corresponding relationship  112  may be restricted by legislation or regulation. In some jurisdictions, lawyer  106  may be limited to provide only legal services; in such jurisdictions, real estate agent  104  and lawyer  106  may agree to divide the tasks based on each party&#39;s legally permitted work, and may agree to a division of commission or commission structure reflecting the amount of work each party provides. In other jurisdictions where lawyers  106  may be permitted to provide real estate services, the division of tasks and commission may define that the real estate agent  104  may be hired for as little as exposure on MLS® or another property listing service, database, registry or other compilation of property information, for example. In one such embodiment, the division of commission or commission share payable to a real estate agent  104  may be defined to reflect a lesser amount of work being completed by real estate agent  104 . 
     In one embodiment, lawyer  106  may perform the tasks of reviewing title upon commencement of listing a home for sale, receiving all correspondence between the real estate agent  104  and client  102 , receiving and reviewing offers for sale and purchase of the property, and attending to the conveyance of the property. In an exemplary such embodiment, a division of commission to the lawyer  106  may comprise an approximately 30-40% share of the total commission. In one such embodiment, the remainder of the tasks associated with the sale of a property would be performed by the real estate agent  104 , with the real estate agent receiving the remainder of the commission, approximately 60-70% of the total commission, for example. 
     In some embodiments relationship  112  may be formalized between lawyer  106  and real estate agent  104  through an engagement agreement, contract, and/or other legal document, such as in the form of a written agreement or an electronically represented written agreement, which may desirably define the division of commission and tasks between the lawyer  106  and real estate agent  104 . 
     Although the second  202 , third  204  and fourth  206  operations have been presented in a sequential order in the exemplary embodiment illustrated in  FIG. 4 , the order of each operation is non-essential to the practice of the invention. In other embodiments, each of operations  202 ,  204 ,  206  may occur before or after one another. In some embodiments, the operations  202 ,  204 ,  206  may commence concurrently. In some embodiments, the fourth operation  206  (defining division of commission) and relationship  112  may exist prior to client  102  deciding to sell their property and before the first operation  200 . 
     The fifth operation  208  comprises promoting the property. In one embodiment, promoting the property may typically comprise lawyer  106  and real estate agent  104  performing the series of tasks that each previously agreed to in accordance with the fourth operation  206 , in association with the sale of the property. The fifth operation  208  may typically be completed when client  102  has executed a purchase and sale agreement with a purchaser. In one embodiment, at such point the purchase and sale agreement may desirably be ready for conveyancing. 
     The sixth operation  210  comprises conveying the property to the purchaser. In one embodiment, conveying the property to the purchaser may typically comprise one or more of:
         Reviewing title (if not previously completed);   Conducting searches, such as searches for any mortgages, taxes, liens, or other charges on title;   Preparing transfer documents, such as statements of adjustment, tax certificates, property transfer tax forms, for example;   Attending to the signing of documents by the purchaser;   Liaising with the seller&#39;s lawyer   Ordering funds from a lender (if any), deposit the balance of funds from the purchaser, and confirming excess deposit has been received;   Acting as escrow agent   Filing/recording the transfer documents such as in a land title registry or other property records office;   Arranging for title insurance and/or liaising with title companies;   Paying any existing mortgages, and discharging any other liens and liabilities for the property.       

     In some embodiments, fifth operation  210  may additionally comprise operation  210 - 1  which comprises distributing the commission between the lawyer  106  and the real estate agent  104 . In one such embodiment, the commission may be distributed according to the division of commission or commission sharing terms defined in operation  206  as part of relationship  112  between the lawyer  106  and real estate agent  104 . In one embodiment, either of operation  210  or  210 - 1  may additionally comprise paying the remainder of the purchase funds, following distribution of the commission, to the client  102  as proceeds of the sale of the property. 
       FIG. 5  is a schematic relationship diagram depicting a purchaser client  302 , real estate agent  304  and lawyer  306 , in accordance with an embodiment of the invention. Purchaser or buyer client  302  may typically be equivalent to client  102  except purchaser client  302  wishes to purchase rather than sell a property. In one aspect of the invention, client  302  enters into an attorney-client relationship  310  with lawyer  306 . Relationship  310  is similar to relationship  110  except relationship  310  may desirably provide lawyer  306  with broad authority to supervise and aid in the purchase of a property and may further desirably define a commission based structure for compensation of the lawyer  306  from a commission paid by the seller of the property upon completion of the sale. Client  302  also enters into an agency relationship  308  with real estate agent  304 . Agency relationship  308  is similar to agency relationship  108  except agency relationship  308  provides that real estate agent  304  will provide service associated with the purchase of a property. Lawyer  306  and real estate agent  304  enter into a relationship  312  for co-representation of the client  302 , similar to relationship  112 , except the division of commission and tasks are associated with the purchase of a property. 
       FIG. 6  illustrates an exemplary series of operations according to an embodiment of the present invention.  FIG. 6  is similar to  FIG. 4  except it provides a series of operations for a property transaction associated with a purchaser. The first operation  400  of  FIG. 2  comprises identifying a client  302 . Client  302  is a purchaser that wishes to purchase a property. 
     The second operation  402  comprises identifying a lawyer  306  representing client  302 . Client  302  may enter into a attorney-client relationship  310  with lawyer  306  to represent client  302 . In one aspect of the invention, in forming relationship  310 , client  302  may desirably retain and/or provide lawyer  306  with the authority to represent and act on behalf of client  302  for the purpose of taking all necessary and prudent steps to purchase and transfer a property, including showing properties, making offers for the purchase of a property on behalf of the client  302 , and acting on the client&#39;s  302  behalf with sellers and their lawyers or agents. In one embodiment, client  302  may also provide instructions that lawyer  306  may share its commission with a real estate agent  304 . In an exemplary such embodiment, client  302  may authorize lawyer  306  to permit real estate agent  304  to perform some of the tasks involved in the purchasing of a property such as locating and showing various properties to the client  302 , for example. In some embodiments, lawyer  306  may be given the option to perform all the tasks involved in representing the client  302  in purchasing a property without the assistance of a real estate agent  304 . Typically, operation  402  may desirably comprise executing a retainer agreement, such as a written agreement or electronically represented written agreement between the client  302  and lawyer  306  which defines the tasks to be completed in association with the purchase of a property, and further defining the remuneration to be paid to the lawyer  306  for such services. 
     In one such embodiment, operation  402  further comprises defining an agreement whereby client  302  agrees to provide lawyer  306  with the buyer agent portion of a commission fee provided by the seller, such as is paid by a seller to the listing real estate agent. In some embodiments, client  302  may provide instructions that lawyer  306  may share its buyer agent fee with a real estate agent  304  for performing some of the tasks required to purchase a property. 
     In some embodiments, relationship  310  may desirably provide that lawyer or law firm  306  may only exclusively represent one party in the transaction associated with the purchase of the property. That is, lawyer  306  may only represent purchaser client  302 , and may not form or have a pre-existing relationship, such as a limited dual agency relationship for example, with a seller. 
     In some embodiments, relationship  310  may be formalized in the form of a purchaser agent fee agreement, retainer agreement, contract or other legal agreement, such as in the form of a written agreement or electronically represented written agreement, between lawyer  306  and client  304 . These agreements providing the agreed to terms and conditions of relationship  310 , including the commission to be paid to the lawyer  306  for services associated with the purchase of the property. 
     The third operation  404  of  FIG. 6  comprises identifying real estate agent  304  representing the client  302 . In one embodiment, identifying a real estate agent  304  representing the client  302  comprises a client  302  and real estate agent  304  entering into an agency relationship  308 . In some embodiments, identifying real estate agent  304  comprises lawyer or law firm  306  searching a realtor database for realtors willing to form a relationship  112  with the lawyer  306 . In some embodiments, client  302  may know a real estate agent  304  that is willing to engage in a relationship  312  with the lawyer  306  for cooperatively providing services associated with purchase of a property. 
     In one such embodiment, operation  404  further comprises defining the remuneration to be paid to the real estate agent  304  for the provision of services in the purchase of a property. In a preferred embodiment, real estate agent  304  agrees to be paid a buyer agent commission fee offered by the listing agent, which fee is then shared with lawyer  306 . In one such embodiment, the division of the buyer agent commission fee and amount to be paid to each of the real estate agent  304  and lawyer  306  is determined by the fourth operation  306  and is defined in the relationship  312  between the real estate agent  304  and lawyer  306 . 
     In some embodiments, relationship  308  will provide that real estate agent  304  may only exclusively represent one party in the transaction associated with the sale of the property. That is, real estate agent  304  may only represent client  302 , and may not form a relationship, such as a limited dual agency relationship, with a seller. 
     The fourth operation  406  comprises defining a division of commission, or commission sharing terms, between the lawyer  306  and the real estate agent  304 . Lawyer  306  and real estate agent  304  may typically negotiate and define a division of commission, or commission sharing term, such as to form the basis of relationship  312 . In some embodiments, the division of commission or commission sharing terms may comprise a fixed sum to be paid to at least one of the lawyer  306  and real estate agent  304 . In some embodiments, the division of commission or commission sharing term may comprise a percentage of the buyer agent commission fee payable to lawyer  306  upon purchase of the property and defined in relationship  310  between the lawyer  306  and client  302 . 
     In some embodiments, a division of commission or commission sharing terms may further comprise lawyer  306  and real estate agent  304  dividing a series of required or optional tasks associated with the purchase of property between themselves. In one such embodiment, the division of tasks may be based on the division of the buyer agent commission fee. In one embodiment, an exemplary, non-limiting, series of tasks associated with the purchase of a property that may be divided between the lawyer  306  and real estate agent  304  may comprise:
         Obtaining property parameters from the client;   Placing client on automatic MLS® or other listing notification system based on the property parameters;   Showing the client various properties they are interested in;   Completing a land title or other property registry or records office search and reviewing with client;   Obtaining client instruction and drafting purchase offer with appropriate subject conditions;   Negotiating counter-offers with the seller on behalf of client;   Diarizing subject removal date;   Providing the client with mortgage broker information;   Obtaining a property disclosure or similar statement;   Drafting subject removal addendum; and   Obtaining deposit money from client and placing in trust account.       

     In one embodiment, the real estate agent  304  may perform the tasks of obtaining property parameters from the client, placing client on automatic MLS notification system based on the property parameters and showing the client various properties they are interested in. In an exemplary such embodiment, the realtor&#39;s  304  share of the buyer agent commission fee may comprise between approximately 60-90% of the total buyer agent commission fee. In one such embodiment, the remainder of the tasks associated with a real estate property transaction would be performed by the lawyer or law firm  106 , with the lawyer  106  receiving the remainder of the commission, such as between approximately 10-40% of the total buyer agent commission fee, for example. 
     In some embodiments relationship  312  may be formalized between lawyer  306  and real estate agent  304  through an engagement agreement, contract, or other legal document, such as in the form of a written agreement or electronically represented written agreement, which may desirably define the division of commission remuneration and tasks between the lawyer  306  and real estate agent  304 . 
     Although the second  402 , third  404  and fourth  406  operations have been presented in a sequential order in the exemplary embodiment illustrated in  FIG. 4 , the order of each operation is non-essential to the practice of the invention. In other embodiments, each of operations  402 ,  404 ,  406  may occur before or after one another. In some embodiments, operations  402 ,  404 ,  406  may commence concurrently. In some embodiments, the fourth operation  406  (defining division of commission or commission sharing terms) and relationship  312  may exist prior to client  302  deciding to purchase a property and before the first exemplary operation  400 . 
     The fifth operation  408  comprises showing properties. In one embodiment, showing properties may typically comprise the lawyer  306  and/or real estate agent  304  performing the series of tasks that each previously agreed to in accordance with the fourth operation  406 , in association with locating a property for purchase and negotiating the purchase of a property. The fifth operation  408  may typically be completed when client  302  has executed a purchase and sale agreement with a seller. In one embodiment, at such point the purchase and sale agreement may desirably be ready for conveyancing. 
     The sixth operation  410  comprises conveying the property to the purchaser. In one embodiment, conveying the property to the purchaser may typically comprise at least one or more of:
         Awaiting conveyancing instruction letter;   Preparing closing documents, including mortgage documents;   Liaising with the seller&#39;s lawyer;   Acting as escrow agent;   Arranging title insurance and/or liaising with title companies   Attending to execution of closing documents;   Depositing remainder balance of funds require to complete transaction into trust account;   Registration or recordal of property title documents in a land title registry or other property records office; and   Arranging for the pick-up of keys and title documents by client.       

     In some embodiments, fifth operation  410  may additionally comprise operation  410 - 1  which comprises distributing the buyer&#39;s agent commission between the lawyer  306  and real estate agent  304 . In one such embodiment, the buyer&#39;s agent commission may be distributed according to the division of commission or commission sharing terms defined in operation  406  as part of relationship  312  between the lawyer  306  and real estate agent  304 , for example. 
     While the present invention and its various functional components and operational functions have been described in particular exemplary embodiments, the invention may also be implemented in electronic and/or computer hardware, software, firmware, middleware or a combination thereof and utilized in electronic and/or computerized systems, subsystems, components or subcomponents thereof. In particular embodiments implemented in software, elements of the present invention may be instructions and/or code segments to perform the necessary tasks. The program or code segments may be stored in a machine readable medium, such as an exemplary non-transitory computer readable medium, such as may comprise a processor readable medium, such as a processor readable storage medium or a computer program product, or transmitted by a computer data signal embodied in a carrier wave, or a signal modulated by a carrier, over a transmission medium or communication link. The machine readable medium or processor readable medium may include any non-transitory medium that can store or transfer information in a form readable and executable by a machine, for example a processor, computer, etc. 
     An embodiment of the present invention relates to a computer storage product with a non-transitory computer-readable medium having computer code thereon for performing various computer-implemented operations. The computer-readable media and computer code may be those specially designed and constructed for the purposes of the present invention, or they may be of the kind well known and available to those having skill in the computer software arts. Examples of computer-readable media include, but are not limited to: magnetic media such as hard disks, floppy disks, and magnetic tape; optical media such as CD-ROMs and holographic devices; magneto-optical media such as floptical disks; and hardware devices that are specially configured to store and execute program code, such as application-specific integrated circuits (“ASICs”), programmable logic devices (“PLDs”) and ROM and RAM devices including Flash RAM memory storage cards, sticks and chips, for example. Examples of computer code include machine code, such as produced by a compiler, and files containing higher-level code that are executed by a computer using an interpreter. For example, an embodiment of the invention may be implemented using HTML, HTML5, XML, JavaScript, Java, C#, C++, Objective C, or other scripting, markup and/or programming languages and development tools. Another embodiment of the invention may be implemented in hardwired circuitry in place of, or in combination with, machine-executable software instructions. 
     In an alternative embodiment, aspects of the present invention may be implemented in written or other non-volatile recorded form, such as in implementations and applications using printed and/or written documents, forms, checklists and the like. 
     The exemplary embodiments herein described are not intended to be exhaustive or to limit the scope of the invention to the precise forms disclosed. They are chosen and described to explain the principles of the invention and its application and practical use to allow others skilled in the art to comprehend its teachings. 
     As will be apparent to those skilled in the art in light of the foregoing disclosure, many alterations and modifications are possible in the practice of this invention without departing from the scope thereof. Accordingly, the scope of the invention is to be construed in accordance with the substance defined by the following claims.