How hard is it to go in house from a real estate practice?

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REITs and PE groups that have real estate funds are likely your best bet.

Beyond that, larger companies with significant real estate needs will be your best bet. I know people who have gone in-house with supermarket chains, for example. I went in house with a company in the hospitality business. Another colleague went in-house with a restaurant company. But those are going to be the one-offs that are often filled through existing connections and that won’t be as easy to find - you’ll probably have to stumble across a job listing and then get lucky and hope that they didn’t already have someone in mind for the spot.

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Hard to say as I went in-house weeks before the pandemic, so I’m yet to really figure out what the norm will be. But my sense is that the workload will generally be lighter, but with the same busy periods we all experience, especially around the times when you’re in the thick of contract negotiations, coming to the end of diligence periods, and closing deals.

Nature of the work is different in some ways too. I do everything myself. No associate for title and survey review, for example (although I do have admin and paralegal support, which isn’t always the case in-house). I am definitely still a true practitioner still, and not just a manager of outside counsel.

Probably the biggest difference that I’ve experienced that I think is part of the norm is that I have more control over when things get done, even if there may be a lot of things to do. Compare that to an outside client dropping an LOI on you on Friday and telling you that they really need a draft PSA by COB Monday. That doesn’t happen to me anymore.

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Not the easiest practice group to go in-house with, you could probably find a role with Brookfield Properties or similar property development and management firm.

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Are you trying to figure out what group to go with as a junior?

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I suspect that there are significantly more RE associates than in house jobs, but there are definitely a decent amount of those jobs doing standard leasing work. imo better to go tech trans and develop some privacy competency - even if it’s mostly pitch work with someone in privacy worth doing just to say you know it. That will open a lot more doors than an RE background.

Most commercial lease work is commoditized and not that hard. even somebody really crappy is probably going to spot 80% of the issues you do. I don’t know what the in house landscape is like for RE developers or people doing land use work or stuff that requires specialized knowledge like muni bond financing, affordable housing development, etc etc. you’d want to figure out how many developers use firms and resist hiring in house legal until they get really big.

I think this really depends on what kind of real estate you’re practicing. A lot of firms (especially big firms) have real estate practices that are mostly RE finance, mostly RE M&A, or a mix of development, acquisitions and/or leasing.

The exit ops from a finance or M&A type role are going to be different from someone with a generalized equity-side development/acquisitions role.

That’s not to mention RE specialists who do land use/zoning or affordable housing work, which are totally different ball games.

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Following along

That’s a big question!! Mind you my entry to a real estate practice was just over 20 years ago and I did it rather gradually. Today one must be very specialized software, upgrade your malpractice policy to include cyber threats, and get approved to work with title insurers. But, if you have even a small, reliable network of contacts in the real estate, brokerage, or banking community you can pull it off well. And most important, you need an assistant that already knows this and a bookkeeper you can trust who understands a 3-way-trial balance.

Well I see I mis-read the question. Apologies!

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Look at retail companies

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