Law Student ---->> Commercial Real Estate AMA

(Share and discuss thoughts and stories on Dropping out of law school, entering a graduate school program, Career changes, Similar/ related career options)
Anonymous User
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Law Student ---->> Commercial Real Estate AMA

Post by Anonymous User » Sat Dec 05, 2020 12:46 am

Went to a T14 Law School, got average grades, didn't get a BigLaw offer, took some corporate finance courses and real estate finance courses, decided at the beginning of my last semester of 3L to go into commercial real estate. Definitely nerve-racking and challenging but it all worked out. Very happy with the decision and I am better for it. AMA

gekko

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Re: Law Student ---->> Commercial Real Estate AMA

Post by gekko » Wed Dec 16, 2020 1:00 am

I see a lot of people in NY doing this since a JD waives the broker license requirement. Was that what prompted you to seek that area? Are you in management, sales, on a team, doing analysis or transactional related legal work? What're the specifics? Definitely can be a lucrative field... I've done referral only CRE on the west coast. Great gig if you're in an area where everything's a large transaction.

LawSchoolRefugee

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Re: Law Student ---->> Commercial Real Estate AMA

Post by LawSchoolRefugee » Mon Dec 28, 2020 2:35 am

Frankly, to spend three years of your life and $100k+ on a law degree to avoid the broker license requirement makes me seriously question people's judgement. If you stay in brokerage, everyone gets their license, it isn't rocket science to pass it nor does it take a huge investment (unlike law school). And if people are deciding to go into CRE brokerage after law school because of the waiver of the license...same story. People should pick a career based on their natural aptitude, personal interest, and job opportunities. If there is a career area that you enjoy, have a knack for the work, and there are opportunities for you to get your foot in the door and make a very good living...you run with that and take it the bank. Certifications, skills, and experience can all created but if it's a never a good fit that can't be changed.

It was not the reason I went to law school. I went to law school to become a lawyer...decided I didn't fit into the culture of lawyers and didn't enjoy the work...especially compared to real estate finance. Took the course because my family had a small real estate investment and they didn't know anything about it. Decided it could be useful and I enjoyed my finance classes in general. Found that I really enjoyed building financial models, working in teams, and thinking in terms of business rather than law.

I've worked in brokerage and development since law school, now I am at small real estate private equity firm. I am definitely a good fit for the development/investment side of CRE. Brokerage is ultimately about sales, and I realized I wasn't good at it nor did I enjoy it. Much stronger on the analytical and financial side of the business. I also really enjoyed the variety of work in development, it requires becoming a jack of trades and a master of none. That fits me pretty well. I'll spend several years in REPE sharping my financial skill set, understanding the capital side of the CRE business, and seeing how good of personal fit it is. Then I'll decided whether to keep going down the investment/capital side, or return to the development side.

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