The Australian real estate market was moving towards record growth rates even during the crisis. Although during stabilization, growth, a competent lawyer on issues with commercial or residential properties is in great demand.
How promising is such a vacancy, how to fill it, what a real estate lawyer should know, be able to do and do? Let’s analyze the features of one of the most popular legal professions.
The essence of a specialist’s work is transaction support. Inside the profile, there is a division into experts in the construction of facilities, servicing acts of buying and selling housing, or commercial real estate.
Key responsibilities of a real estate lawyer
In the construction market, the emphasis is on the expert part – registration, approvals. When accompanying transactions, the lawyer is more involved in checks, negotiations, organizing a legally competent process of transferring property rights.
There are also general functions, their list includes at least eight items.
- The main job responsibility is legal support of contracts. Their preparation, coordination of points.
- An important part of the work is the assessment of legal risks.
- Representing the interests of the employer at court hearings (including the preparation of claims, petitions) and at negotiations.
- Analysis of the legal quality of a potential partner.
- Preparation of opinions on objects, buyers, sellers of real estate.
- Carrying out registration, approval procedures in judicial, state, municipal instances.
- Consulting employees of the company (management) on the ownership and disposal of real estate.
- Creation and maintenance of a contractual base with external agents – insurers, banks.
Additional task list
Among the additional tasks of a lawyer, one can note the monitoring of legislative acts for changes in the rules for conducting transactions with real estate. The specialist must be able to implement every transaction in which his employer is interested, therefore he is often required to:
- negotiating with buyers, sellers;
- advising the company’s clients on the subject of the clauses of the contract;
- active work with authorities (cadastral chamber, notary offices, tax).
Basic requirements for candidates for this position
Considering the high responsibility imposed by the broad powers of a real estate lawyer, employers put forward the most stringent requirements for applicants for such vacancies. Standard conditions presuppose the presence of higher education, work experience in the profile from one to three years, proficiency in English, special software.
Of the basic theoretical data that a real estate lawyer needs to know, five points should be highlighted.
- Civil, land, tax, housing law.
- Modern technologies of office work (contract law).
- Employer corporate concept.
- The legal component of doing business.
- The tactics of competent support of collateral transactions.
Much attention is paid to the reputation of the university, which the applicant graduated from.
One of the features of the work of a specialist in legal support of real estate transactions is constant involvement. The expert must:
- control the progress of each transaction;
- deal with the points of the current legislation;
- know the history of recent changes.
Good connections with colleagues in related fields are essential here. As well as perseverance, responsibility, willingness to look for non-standard solutions, a painstaking approach to the study of new issues.
Although the demand of the labor market for lawyers is constantly growing, the competition among young professionals of the profile is aggravated: there are up to 5-8 CVs per vacancy. When choosing between candidates, the employer often pays special attention to the status of the university graduated by the applicant.
The Faculty of Law “Synergy” in the profile of civil law is a priori an advantage of the future application for a prestigious vacancy. We not only train competent specialists but from the first year we provide them with the opportunity to start accumulating experience. The teaching staff of the legal department is one of the strongest in Australia.
Employment income and prospects
The employers of specialists in support of transactions with real estate are agencies for the sale of residential/commercial real estate, development companies, developers, owners of warehouse complexes and premises. Often open vacancies are organizations whose activities are closely related to the use of commercial objects:
- restaurant chains;
- large trading companies;
- educational establishments.
The salary of a specialist with a complete legal education starts from 60 thousand dollars. The prospects for income growth are not limited – an expert can work simultaneously with several orders or engage in specialized activities in the employer’s staff.