In the realm of Real Estate, in contrast to many other industries, one encounters a multitude of challenges: intricate risks, convoluted complexities, sensitive legal procedures, and, of course, numerous intricate negotiations. Nevertheless, these challenges should not overshadow the substantial opportunity that lies beneath the surface, beyond what might initially appear obvious. As the old English adage goes, “Where there’s a will, there’s a way,” and this adage is particularly relevant in the realm of commercial real estate.

Rest assured that with a capable attorney by your side, your concerns will be minimal, if not entirely alleviated. However, competence alone should not be the sole criterion when selecting a Commercial Real Estate Attorney. Several other equally significant qualities should also be considered. Before delving into how to identify an exceptional attorney, let’s first establish a definition to guide our search. While not exhaustive, this definition will provide a foundation for your quest:

An exemplary commercial real estate attorney possesses both the expertise and the capability to identify, negotiate, and mitigate both imminent and potential risks in your real estate ventures. They excel in managing transactions, offering invaluable legal counsel, and drafting essential documents, agreements, and contracts. This attorney’s background should include approximately sixty-five percent of their professional experience dedicated exclusively to real estate, with a particular focus on commercial real estate in the past five years. Furthermore, they should be actively involved in real estate investment and boast a roster of professional real estate investors as clients.

Now that we have established the ideal qualifications, let’s explore how to locate such an attorney.

For some individuals, conducting a background check on their prospective attorney may satiate their curiosity. They may want to know details like the attorney’s alma mater and academic success, among other things. While these aspects are noteworthy, certain facts speak volumes and should be prioritized over more trivial details.

Your prospective attorney should be an active member of the real estate committee within your local bar association or actively engaged in the development of legal education programs for the county. These educational courses, taught by lawyers for lawyers, typically feature instructors who are top-tier professionals in their field. Additionally, consider whether the attorney operates independently or is part of a small firm. Although hiring a competent attorney from a large firm is an option, it’s crucial to note that the firm’s reputation does not guarantee quality, and their fees may be higher. Attorneys who run their own practices tend to have a more entrepreneurial mindset and are generally more open-minded, flexible, and willing to negotiate on pricing.

A CAUTIONARY NOTE: While excellent attorneys may be open to negotiating fees, it’s essential not to demean them by demanding reduced rates in exchange for increased patronage. Such demands may imply that you are not a valued long-term client.

When searching for a commendable commercial real estate attorney, investigating their reputation is paramount. It is advisable to not only seek feedback from their clients but also gather insights from colleagues and peers. You should inquire about the attorney’s track record in building relationships and their commitment to every aspect of their work. An attorney who actively engages with construction workers on-site, listens to their concerns, and demonstrates genuine care for their issues regarding the project is highly desirable. Look for an attorney who prioritizes building bridges, not walls. Regardless of an attorney’s proficiency and experience, if they lack dedication to your projects, they are not worthy of your time or financial investment. You need someone who comprehends your desire for a long-term business partnership, listens to your innovative business ideas, and collaborates with you to achieve your goals.

Another crucial attribute to seek is a profound understanding, not solely in matters related to commercial real estate transactions, but also in the diverse laws and regulations governing the industry. Your attorney should be well-versed in laws pertaining to apartments, contract disputes, commercial leasing, property management, and risk mitigation. Pay close attention to how they have safeguarded their clients’ interests through legal advice, rigorous negotiations, contract drafting, and courtroom advocacy. An attorney who excels at deciphering local land use codes is an asset. Keep in mind that an attorney’s expertise is indispensable in resolving construction disputes, addressing mechanic’s liens, and managing property defects, among other potential issues.

If you are wondering whether all these qualities can coexist in a single attorney, the emphatic answer is yes. The feasibility of finding such an attorney ultimately depends on your dedication to your business and the extent to which you are willing to be thorough in selecting a competent and reliable attorney. As previously mentioned, a proactive, business-minded attorney is the ideal choice. They should be actively engaged in the ever-evolving landscape of commercial real estate.

Entrusting significant business matters to an inexperienced attorney, while well-intentioned and diligent, may lack the requisite experience and insights necessary for a successful partnership.