Luber: Hi everyone, Marc Luber here. Today
on JD Careers Out There we�re looking at careers in real estate law. And like all of
our videos, we�re helping you find and succeed in fulfilling careers using a law degree,
either practicing law or leaving law to pursue alternative careers. You�ll see in our videos that we help you
either get advice on key practical skills you�ll need for success or we go deep into
exploring a career path to help you decide if it fits you. Today our guest is Laura McClellan.
She�s a real estate attorney and a partner at Thompson and Knight in Dallas, Texas, where
she made the Texas Super lawyers list by Thompson Reuters and she was listed as one of the best
lawyers in America by Woodword White. Laura�s going to tell us all about being a real estate
attorney, so let�s get to it. Laura, welcome to JDCOT. Laura: Thanks, it�s great to be here. Luber: I�m glad you�re here, thank you
for being here. Laura, I�m going to ask you to tell us what it�s like to be a real
estate lawyer and then we�re going to dig into what�s a typical day like and who�s
the right fit for this type of a path and how do you break in and then how do you succeed.
But before we get to that, I first want to hear from you a description of your practice
and what you do as a real estate lawyer. Laura: Sure. My practice as a real estate
lawyer is focused on commercial real estate. A lot of people think real estate and they
think buying a home or something like that. Very few real estate lawyers, certainly at
my level, are involved in home acquisitions because the dollar amounts don�t make sense
to hire a lawyer. For most people, they just work with their title company. So I work with
lenders, banks and insurance companies who are lending money to build, say, an office
tower or a shopping center. Or I might be working with a developer that�s building
one of those things or acquiring property that they�re going to build something on.
Or acquiring an already constructed retail center or an office building or an apartment
complex, things like that. So it�s big dollar commercial kinds of real estate transactions
– and that�s how I spend my time, working on deals like that. Luber: That�s great. So Laura, could you
tell us what would a typical deal be so we could see what you�re working on, what a
typical fact pattern is, almost like the soap opera angle of it? Who are the characters
and what�s happening? Laura: Well there�s not very much that�s
soap operaee [sic] about what I do but a typical deal, say, is going to be, say pick an office
tower – and the players are going to be the developer, the owner of the property, they�re
going to be the lender. If it�s an acquisition deal there�s a seller and a buyer – but
in any event, they�re the people involved in getting an office building built – if we�re
talking about raw land or changing ownership of it and operating it. I�ve been on all sides of that table, so
to speak, so I might be representing the lender that�s going to provide the funds for acquiring
or building the office tower. Or I might be representing the buyer of the property or
the seller – and those are the players. It doesn�t sound very exciting, they�re not
going to make any TV shows about what I do – but it really can get pretty interesting.
It�s a lot of fun to help put a deal together like that – and any kind of commercial property,
but I�m using an office tower as an example. Luber: Alright, if you�re watching on YouTube,
please give us the thumbs up if this was helpful to you. And if you want to see the full interview
with Laura, come on over to JDCOT dot com, where you�ll hear from her what it�s like
to be a real estate attorney, lots more on that, what�s a typical day like, who makes
the right fit for this path, how to break in and how to succeed. If you�re already
at the site, you can just scroll down to the full video � and make sure you join our
membership so that you get access to all the helpful video content. Thanks again for watching
everybody. I�m Marc Luber and I�ll see you soon.