What is it like to work in real estate law (transactional)? Looking to transition to a new practice area.

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I'm your guy. RE is a big practice. What size firm working on what type of propwrties/clients?

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Do you like the work? When did you start out in real estate? Is it hard to break into the practice area? What is the pay potential like? Thanks so much!!

F, I’m doing real estate in-house. Just started on this path, so following to learn more.

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I really enjoyed it (although I'm in a new practice area now). Used to do a lot of work with shopping malls and building high rises.

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Okay so I've worked in a variety of RE law. Mostly at Big law firms but with a short stint in midlaw. Here's a summary of the different practices. Happy to answer any questions:

Acquisition/disposition: this is the most basic RE transaction. You help buyers/sellers buy and sell properties. On a small scale this is doing residential closings. On more commercial properties there's drafting the PSA (purchase and sale agreement) any ancillary documents, and guiding your client through the transaction.

Real estate finance: REFI attorneys represent lenders/borrowers in financing their transactions. Typically Lenders counsel drafts the documents and leads the transaction with Borrowers counsel reviewing /providing entity diligence / etc. In instances where a company is buying property and immediately financing it the borrower might have two different lawyers represent the acquisition / financing.

Leasing: leasing is its own world of RE transactions. There may be more specialized leasing attorneys that know specific markets / industries but generally this is separate from typical RE teansactions

RE specialists: this is a RE practice at big M&A firms. Basically a specialist attorney on M&A teansaction who will review underlying real estate and provide guidance for the corporate team. They will also draft leases / other documents required by the transaction.

Yeah and land use might also include things like zoning, easements, subdivisions, stuff like that. We use land use attorneys to help us a lot as local counsel since they know a lot of the local customs and processes.

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