Breaking into real estate law - real estate salesperson license

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.
Anonymous User
Posts: 309296
Joined: Tue Aug 11, 2009 9:32 am

Breaking into real estate law - real estate salesperson license

Postby Anonymous User » Tue Mar 14, 2017 1:40 pm

Would getting a real estate sales license be helpful in breaking into real estate law (transactional/finance)?

If so, is it worth the studying + fees associated with it?

User avatar
viz-luv

Bronze
Posts: 134
Joined: Sat Feb 23, 2013 10:30 pm

Re: Breaking into real estate law - real estate salesperson license

Postby viz-luv » Tue Mar 14, 2017 3:23 pm

If you can use it to show an interest in real estate and work experience dealing with contacts then maybe it can help you land a job. Some solo practitioners keep licensed to get extra forms. But in general no it probably won't help and it won't help you be a better real estate lawyer beyond basic familiarity with some things.

Also...anon for this?

Edit: I'm in Texas and states do have different broker licenses so ymmv. Commission rules mean you can't do both so it's not helpful for that for us.
Last edited by viz-luv on Wed Mar 15, 2017 9:40 am, edited 2 times in total.

Anonymous User
Posts: 309296
Joined: Tue Aug 11, 2009 9:32 am

Re: Breaking into real estate law - real estate salesperson license

Postby Anonymous User » Tue Mar 14, 2017 3:27 pm

I know someone at my firm who is a broker.

Are we talking BigLaw or just general RE practice?

iliketurtles123

Bronze
Posts: 265
Joined: Wed Jan 15, 2014 10:14 pm

Re: Breaking into real estate law - real estate salesperson license

Postby iliketurtles123 » Tue Mar 14, 2017 6:27 pm

Anonymous User wrote:I know someone at my firm who is a broker.

Are we talking BigLaw or just general RE practice?


OP here. Sorry for accidental anon.

Graduated recently. Interested in Real Estate Transactions or Finance.

The only real estate experience or background I have is taking Real Estate Transactions during law school. When I'm applying to real estate practice group positions, I find it's difficult to show why I'm interested other than "I took a real estate class in law school"

Interested in biglaw but also midlaw (live in california, and there's a decent amount of mid-sized real estate firms here).

Wondering if I should try to obtain the real estate salesperson license or if it's just a waste of time/money. Definitely not trying for a broker license since it requires 2 years of experience

1styearlateral

Silver
Posts: 805
Joined: Wed Mar 30, 2016 3:55 pm

Re: Breaking into real estate law - real estate salesperson license

Postby 1styearlateral » Wed Mar 15, 2017 9:28 am

IME getting your "salesperson" license is probably useless unless you want to join a brokerage instead of practicing law. It adds no practical value to your practice. On the other hand, quite a few people in my office have their broker's license, and when we do transactional there is an opportunity to do the purchase/sale for the broker's fee, which can be a lot depending on how much the building goes for (think 1-2% on a $50 million building).

Some states allow attorneys admitted to the state bar to waive the general requirements for the broker's license. Usually, you just fill out the application and pay the fee.

Npret

Silver
Posts: 1163
Joined: Mon Jan 23, 2017 11:42 am

Re: Breaking into real estate law - real estate salesperson license

Postby Npret » Wed Mar 15, 2017 9:42 am

In New York you used to be able to get your license as an attorney without taking the exam.

1styearlateral

Silver
Posts: 805
Joined: Wed Mar 30, 2016 3:55 pm

Re: Breaking into real estate law - real estate salesperson license

Postby 1styearlateral » Wed Mar 15, 2017 11:14 am

Npret wrote:In New York you used to be able to get your license as an attorney without taking the exam.

AFAIK they still are.

Jay2716

Bronze
Posts: 239
Joined: Sat Dec 08, 2012 6:41 pm

Re: Breaking into real estate law - real estate salesperson license

Postby Jay2716 » Wed Mar 15, 2017 5:53 pm

In my state you don't even need the license. Lawyers have auto broker power. I figured this was more common.

User avatar
viz-luv

Bronze
Posts: 134
Joined: Sat Feb 23, 2013 10:30 pm

Re: Breaking into real estate law - real estate salesperson license

Postby viz-luv » Wed Mar 15, 2017 9:16 pm

In Texas you are automatically able to act as a broker, but the rules on commissions mean you aren't able to do both functions at the same time and be compensated for both. In most functions you can't get the commission at all.

1styearlateral

Silver
Posts: 805
Joined: Wed Mar 30, 2016 3:55 pm

Re: Breaking into real estate law - real estate salesperson license

Postby 1styearlateral » Thu Mar 16, 2017 10:22 am

viz-luv wrote:but the rules on commissions mean you aren't able to do both functions at the same time and be compensated for both. In most functions you can't get the commission at all.

I think this is true in any state per RPC. Can't double-dip.



Return to “Legal Employment�

Who is online

The online users are hidden on this forum.