Real Estate – An Exercise in Long Term Market Trends

There is a significant demand for real estate associates in the market right now. More specifically, there is a significant demand for mid-level real estate associates (2-5 years of experience). In almost any region of the country, associates who fit this profile and have solid real estate experience, as well as the usual good credentials, can expect to garner multiple job interviews, and even multiple offers. The demand for these attorneys outweighs the supply significantly.


So what is the reason for this? In general, demand for particular types of attorneys is client-driven, and real estate is a very busy practice area right now due to the economic recovery spurring new development, as well as developments coming back online that were put on hold or canceled in the midst of the recent recession. There is a lot of work to be done, and real estate is an enjoyable practice area, so why aren’t there enough attorneys to go around?
It’s a matter of looking at the long-term market trends, which is also a good exercise in how to think about your career in the big picture. Firms typically seek lateral associates at the mid-level, often represented in job listings as “2-5” or “3-5” years of experience. Right now, that means the classes of 2009 – 2011.

So think back to 2009, and what was happening in the market at the time. The recession was in full swing. Investment dried up, transactions were stalled or cancelled, and as a result the real estate practice sector was hit particularly hard, with many attorneys, and sometimes entire practice groups, getting pushed out the door at law firms due to a lack of work. And, more importantly to our exercise here, hiring for entry-level associates in the real estate sector nearly disappeared entirely.

Associates lucky enough to keep their offers (i.e. whose offers weren’t rescinded or never given in the first place) often had little choice as to their entry-level practice area. It wasn’t a matter of “would you like to practice real estate, employment law, or litigation?” It was “you’ll be working in the litigation group – that’s the only way you’ll meet your billable hours requirement.”

To be sure, the sector did not disappear entirely, but it was essentially decimated at the time, and opportunities for newly-minted attorneys to gain immediate experience in a real estate practice were scarce. As a result, three to five years later, mid-level attorneys with a solid history of real estate experience are in very short supply.

This is one very obvious example of market hiring cycles at play, and for law students and mid-level attorneys alike, it pays to pay attention to hiring trends. If your practice area is currently in demand, you may want to take a very hard look at immediate lateral opportunities, because things will inevitably shift, and you do not want to find yourself at the more senior level with no lateral job prospects (or business development prospects) because your practice area is experiencing a downturn.

A good way to find out about current trends is to speak with a well-connected legal recruiter – it pays to have this information as you evaluate your long-term career plans, even if you are not looking to make a move right now.

Opulent Opportunities for Real Estate Attorneys…!
About Harrison Barnes

Harrison Barnes is a prominent figure in the legal placement industry, known for his expertise in attorney placements and his extensive knowledge of the legal profession.

With over 25 years of experience, he has established himself as a leading voice in the field and has helped thousands of lawyers and law students find their ideal career paths.

Barnes is a former federal law clerk and associate at Quinn Emanuel and a graduate of the University of Chicago College and the University of Virginia Law School. He was a Rhodes Scholar Finalist at the University of Chicago and a member of the University of Virginia Law Review. Early in his legal career, he enrolled in Stanford Business School but dropped out because he missed legal recruiting too much.

Barnes' approach to the legal industry is rooted in his commitment to helping lawyers achieve their full potential. He believes that the key to success in the legal profession is to be proactive, persistent, and disciplined in one's approach to work and life. He encourages lawyers to take ownership of their careers and to focus on developing their skills and expertise in a way that aligns with their passions and interests.

One of how Barnes provides support to lawyers is through his writing. On his blog, HarrisonBarnes.com, and BCGSearch.com, he regularly shares his insights and advice on a range of topics related to the legal profession. Through his writing, he aims to empower lawyers to control their careers and make informed decisions about their professional development.

One of Barnes's fundamental philosophies in his writing is the importance of networking. He believes that networking is a critical component of career success and that it is essential for lawyers to establish relationships with others in their field. He encourages lawyers to attend events, join organizations, and connect with others in the legal community to build their professional networks.

Another central theme in Barnes' writing is the importance of personal and professional development. He believes that lawyers should continuously strive to improve themselves and develop their skills to succeed in their careers. He encourages lawyers to pursue ongoing education and training actively, read widely, and seek new opportunities for growth and development.

In addition to his work in the legal industry, Barnes is also a fitness and lifestyle enthusiast. He sees fitness and wellness as integral to his personal and professional development and encourages others to adopt a similar mindset. He starts his day at 4:00 am and dedicates several daily hours to running, weightlifting, and pursuing spiritual disciplines.

Finally, Barnes is a strong advocate for community service and giving back. He volunteers for the University of Chicago, where he is the former area chair of Los Angeles for the University of Chicago Admissions Office. He also serves as the President of the Young Presidents Organization's Century City Los Angeles Chapter, where he works to support and connect young business leaders.

In conclusion, Harrison Barnes is a visionary legal industry leader committed to helping lawyers achieve their full potential. Through his work at BCG Attorney Search, writing, and community involvement, he empowers lawyers to take control of their careers, develop their skills continuously, and lead fulfilling and successful lives. His philosophy of being proactive, persistent, and disciplined, combined with his focus on personal and professional development, makes him a valuable resource for anyone looking to succeed in the legal profession.

About BCG Attorney Search

BCG Attorney Search matches attorneys and law firms with unparalleled expertise and drive, while achieving results. Known globally for its success in locating and placing attorneys in law firms of all sizes, BCG Attorney Search has placed thousands of attorneys in law firms in thousands of different law firms around the country. Unlike other legal placement firms, BCG Attorney Search brings massive resources of over 150 employees to its placement efforts locating positions and opportunities its competitors simply cannot. Every legal recruiter at BCG Attorney Search is a former successful attorney who attended a top law school, worked in top law firms and brought massive drive and commitment to their work. BCG Attorney Search legal recruiters take your legal career seriously and understand attorneys. For more information, please visit www.BCGSearch.com.