July 01, 2015

Define Your Real Estate Law Practice

Dean Alterman
From How to Build a Real Estate Law Practice, Chapter 2

Formulate Your Practice Goal

Now that you have decided to build a real estate practice (or you have decided to stick with tax law, but you like this book so far), you need to define what your practice will be. At this early point, don’t define your practice too exactly, but have some idea of what kind of work and what kind of clients you want. Set your practice goal down in writing. It may change—for one thing, the clients you want may not come in the door or may not exist in your marketplace and you may have to change clients or marketplaces—but you need to have at least a starting point. My starting point 25 years ago was something like this: “I want as clients people who have made a commitment to sustained investment in commercial real estate.” Within that sentence I was saying that I was seeking as clients (a) people, rather than impersonal institutions, who (b) had a buy-and-hold, long-term approach to investing (c) in income-producing real estate.

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