Has anybody opened a residential real estate law firm? What are the margins and hours like? Thanks!

like
Posting as :
works at
You are currently posting as works at

Looking to do this actually, so interested to see the responses. I would like to open title company as well, so it’s a one-stop shop deal, all in house.

Does it involve a lot of networking with real estate agents?

How does one build a solid book of business?

What types of legal services do you offer? Contract drafting/review, quiet title actions, foreclosure and LL/T matters come to mind; probate, too. Anything else? Would it muddy the waters too much?

Any reasons why it would be more advantageous to stick to specifically residential vs. Commercial ? Reasons not combine both?

Alas, some of my thoughts above; will edit if more comes to mind lol 💭

Who do you approach with these types of questions anyways (besides you fishies 🐠)?
Your local bar association?; Get a consultation with an attorney in the field and ask all your questions (which I’m sure a lot of answers will be “it depends lol) ?; where/how do you find a mentor like this, who will take the time to answer/guide/assist/advise on these things?

OP: feel free to DM me if you’re down to chat about this more, maybe throw some ideas around or give each other perspective.

Related Posts

What is everyone’s thoughts on the best case management software, preferably either with or compatable with document automation?

like
like

what Is the avg salary of 601 in JPMC WITH 5 YEARS OF EXPERIENCE

like

Cushman & Wakefield Interested in a Sales Associate position at Cushman & Wakefield. I have experience as a government analyst for 7 years but nothing related to commercial real estate. I want to become a more competitive applicant but not sure where to start. Are there any certificates, skills, or knowledge that I should be learning in my free time?

like

Hi Fishes,

I Received Eclerx offer for Morgan Stanley client for Mainframe technology, Can someone suggest is it good decision to join eclerx? What is bench policy ? Are they having mainframe projects?

like

Has anyone gone to INSEAD while intending to end up in the US afterwards? I’m enrolled to start this fall and getting cold feet 🙈

likefunny

Today is my first day back at work (and first full day back in my physical office) after a few weeks off for parental leave. Needless to say, I am struggling to stay focused on anything other than wanting to go back home to my spouse and child.

I know I shouldn't take an emotional temperature on day one, but it has been more difficult being back than I anticipated. Any tips for navigating the waters for the first day/week/month back?

like

I know it’s not technically a meme. But it is a free drink for whichever 🐠 gets to it first. Which I think has the spirit of a meme, if not the form. Happy flyday

Post Photo
likeupliftinghelpful

Why don't full time professionals joining ACS (Adobe Consulting Services) in Adobe India get stocks?

Whereas, a lot of other businesses get stocks + bonus in their offers. Someone willing to share about ESOPs?

like

Hi fishes, can you help me on how much I recieve in-hand per month. This is for tcs. Considering 80c is 1,50,000 @tcs

Post Photo
like

Any thoughts and ideas on how to break into Microsoft (non-federal practices)

Profile in product development, project management, analytics and business intelligence in financial services plus MBA

Microsoft

like

I know this is going to differ greatly but wanted to get an informal survey here of what the hours are like in product management. If you are a PM, can you state your level (early, mid, late in career) and average hours per week worked?

like

Recently accepted an offer for a manager in Bizops in Ad sales for a tech firm. Curious about the growth opportunities in this area. What do folks do after 2-3 years in such roles ?

like

Can anyone please refer me to Transaction services role in London? I have 5 years of audit and 9 months of Transaction Services experience. Thanks!

like

Is LS boutique to the buy side a viable route? Or is there often intermediary roles?

like

Does IHS or S&P Global HR revise up the offer, if we go back to them with a counter offer?

like

With the new merger, can I use my spg suite night awards at Marriott properties?

like

Anyone from MBB in Seoul? I’ve got questions if you’ve got time...

like

Additional Posts in Small Law / Solos

At what point do you talk to the partners at a small firm when you’re looking for other positions. I love the people at my firm, and I’m close with them— but I’ll eventually be leaving to be closer to my s/o. They’ve historically taken things VERY personally when people leave, and I’m trying to avoid hurt feelings (or getting let go before I have something else lined up). Send help plz.

like

Virtual receptionists….anyone utilize this and if so, feedback? If not, thoughts? Start

like

Does anyone run a business in addition to their firm? I’m a solo and I’m doing pretty well with about 60-70 billable hours a month. Though that leaves a lot of downtime. Curious if anyone has any second businesses that require about 20 hours a week. Not looking for passive income or franchise ideas though.

like

I'm entering my final year of law school but am going part time since I work full time as a paralegal. I have been a paralegal for more 10+ years and I want to open my own firm after I pass the bar.

I've worked at a lot of different size firms including a startup with a few attorneys and I was able to help with a lot of the ground work with getting the practice management system in place and still do some of that now at my current firm. Has anyone done this right out of law school? Any advice?

like

When potential clients tell you they’ll hire your firm but they want to be 100% reimbursed from you if you aren’t able to get them the outcome they want - how hard is it not to laugh?! 🤦🏽‍♀️🙄

like

I believe improving one’s sales conversion rate is something everyone want to improve but no one wants to admit they would like to work it. Funny how lawyers will spend thousands on seminars to improve trial skills. But this topic is not discussed in our profession. I have read books in sales. But am unable to find any for lawyers. I want convert every lead I can. Does anyone have tips, books, cle’s or studied this topic?

like

Does anyone have any insight regarding compensation for the “of counsel” position? I’m specifically looking for insight from those in California. Thank you!

like

3 attorney firm. I’ve been here for 6 years and have used Westlaw exclusively. Now we are switching to Lexis because apparently Westlaw is too expensive. I hate change. I know where everything is on Westlaw and now I need to relearn. Apparently Westlaw will not budge on price and would rather just see a client leave than work with them. Super annoying. Any insight on negotiating Westlaw or transitioning to lexis?

like

Has anyone received equity as contingency comp? I have a potential client with a founders dispute. He doesn’t have cash, and the other founder ripped him off and is now running the company. He wants to sue for equity and wants to pay me with whatever equity he wins. I’ve never done a deal like that. Is that even enforceable? CA law. The startup is actually quite promising.

like

Started my law firm this month. Have a few of-counsel positions and want to do mostly litigation (civil and commercial in NY). Besides word of mouth and networking, have any of you found any websites or services that generate legitimate leads?

like

We are a firm of 5 transactional attorneys and the bonus structure is very unclear. The usual “based on personal performance and firm profitability” language. I wonder how this is calculated in general. What is the percentage bracket of the bonus? Assume it is a high performance 9+ year attorney and the firm is profitable (even with COVID). The based salary is low $120k. Firm is in Tx. I’d love to hear your comments.

like

Has anyone does a course from New Law Business Model? If so, what did you think?

like

Anyone practice DUI in Orange County, CA? Please dm me. TIA

like

Does anybody have a resource available for pricing and billing? I am 2 years out of law school, working as a corporate attorney, and wanting to go solo. Ideally, I will take my corporate client with me, but am working to build work on the side during the transition. Also, do you have any recommendations for document preparation? I would like to draft wills, trusts, and other estate planning documents, but would like a resource that has boilerplate provisions to utilize as a reference.

like

Looking for atty to handle car rental co. Claim against a friend in Paris France. Rented from Enterprise in CA.

like

Plaintiff side question - comp is base plus % of fees. Firm has non equity split % with associate working on case. This normal for a non equity partner? Normal associate comp is full % when working with an equity partner.

like

Any mid-level associates in the Sacramento region looking for a litigation role at a chapter 11 bankruptcy firm? We have a job opening up and are looking for someone with corporate bankruptcy experience.

like

Bookkeeping service recommendations? Virtual service or through your CPA?

like

Best way to go about getting contract work for new solo/startup? Should I just ask around the area for people doing that type of work and see if they have anything?

like

Which practice area has the most amount of room for creative problem-solving? (And enough $$)

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal