The ideal time for you to engage an attorney is prior to signing the brokerage agreement with the realtor. Realty companies use lawyers to draft their brokerage agreements and assume that buyers and sellers will sign them without making alterations or adjustments.
This may result in additional fees, having to pay the real estate agent even if you find a buyer on your own, or in dual agency wherein the agent is representing both you and the other side. Now everybody knows that a lawyer can't represent both sides in a case or transaction, but real estate agents can because the law treats them like salespeople.
You surely wouldn't be upset if you went to the electronics store to buy a new computer, were helped by a friendly salesperson, and then went home to think about it only to return later than evening to learn that the very same salesperson sold the computer to somebody else...after all, that's their job!
With a real estate agent, however, buyers and sellers are provided with "representation" in the form of an agent who is well-dressed and generally well-educated, who presents them with legal documents and who explains the process and gets the necessary signatures while referring to them as "clients."
They are also give certain legal duties that, due to no fault of their own, pull them in opposite directions. Should they push the sale through even if it's bad for the client? Should they keep negotiating down even if it means they might lose their commission?
Lawyers are held to a strict duties of "loyalty" and "zealous representation" which force them to remain objective, where realtors cannot be. If problems come up between you and your realtor during the course of the contract period or even afterwards, having an attorney in your corner familiar with the laws of brokerage can also be invaluable.
Having your own attorney also allows realtors to do their job. The vast majority of real estate agents are honest and very hard-working. Due to the appearance and process described above, however, many clients expect the real estate agent to answer their questions about the contract and provide the type of advice only a lawyer is permitted to provide.
If they do provide such advice they can get into serious trouble for "practicing law without a license," a crime they can be prosecuted for because it is dangerous to the public. Relieving the agent of this pressure will let them focus on helping you find the right house or a buyer for your own house that is up for sale, and on keeping adequate track of all the timelines in the agreement.
Do yourself and your agent a favor: Get Your Own Attorney.
