Real Estate Attorney Career Profile

A real estate attorney is a legal professional that handles real estate transactions. A real estate attorney knows how to complete the documentation, ensure a clear title and manage the entire process of property acquisition. Properties can be in both the commercial or residential space.

Real estate transactions can be very complex. If the past owners didn't posses proper permits for construction or mortgage liens, then they can be better managed by a real estate attorney. Real estate disputes have to be resolved with mediation, arbitration or litigation, which only can be done by a qualified and motivated real estate attorney.

You can become a real estate lawyer or attorney by choosing real estate courses in college. You will also be required to attend law school which should be followed by an internship with a law firm specializing in real estate transactions. In order to practice law, you will need to pass the bar exam.

Basic Tasks

  • Contract negotiation - Negotiating with clients and agents for fixing commission fees.
  • Developing and revising agreements - Work independently or with other staff members to develop or revise the real estate agreements.
  • Survey of permits - Obtain permits, maps which are essential for completing a real estate property acquisition.
  • Researching the title issues and resolving them along with the insurance issues.
  • Managing the facilities portfolio.
  • Reviewing and verifying vendor invoices in terms of contract and conditions and reduce the cost.
  • Management of the database through computer applications.
  • Renewal lease agreements.
  • Termination of lease contracts.
  • Handling foreclosures.
  • Tracking and reporting ongoing assignments to superiors.
  • Taking care of other administrative tasks and other endeavors.

Skills Required

  • A real estate attorney should possess excellent real estate price negotiating and transaction skills.
  • Project management skills.
  • Understanding the complicated issues in the acquisition process.
  • A real estate attorney should accumulate and exhibit striking written and oral communication skills.

Places of Work

Real estate attorneys are employed by law firms at various levels or as consultants in large real estate development firms. The work hours are standard for a real estate lawyer or attorney. Most of their time is spent in preparing complicated and critical real estate transaction related documents. Those who are working independently generally spend 55 to 70 hours a week working and also have to market to obtain new clientele. In this way, a large facet of new business is focused on sales and marketing as well.  

Earnings

A real estate attorney on an average earns around $114,429 annually. The salary depends mostly on the number of hours spent and experience. Your salary will also depend on your employer. With more experience, the pay per hour will rapidly increase.

Advancement Opportunities

Usually a real estate attorney starts their career as a junior member of a firm and advances gradually to the level of partner. After gaining a considerable experience in this field, you can initiate your own law firm specializing in real estate.