The world already knows that everything is bigger in the state of Texas.
From 10-gallon hats to barbecue restaurants to ranches, Texas has become synonymous with the old adage about producing the biggest things in the country. And, while some big things in Texas may be up for debate, one is not – the fact that real estate law is booming.
The United States may not be fully recovered from the economic challenges that have plagued the country over the past decade, but things are looking up in Texas. Dallas, Austin and Houston are in the top five of U.S. cities with the best growth potential, according to an article on The Dallas Morning News titled “Dallas, Austin and Houston make a list of the nation’s ‘super cities’ to watch for in 2014”.
The Urban Land Institute (ULI) predicts that both Austin and Dallas will be at the forefront of the best cities for real estate and investing growth. ULI statistics also reveal that, thanks to millennials, economic growth in the real estate sector in Austin is most definitely on the rise.
You may be asking, “What are millennials and why do they matter? The millennial generation, also known as “Generation Y,” refers to those born between 1980 and 2000. It is another description for today’s youth who are now out of college and are looking to make their mark in this world…and buy a house and start a family.
So, if you are a young attorney looking to grow your legal career, the eyes of Texas should be upon you!
According to Suzanne Howe, Managing Director of BCG Attorney Search, Texas is quickly becoming a hotbed in the practice area of real estate law.
“The real estate market in Texas has picked up tremendously and I think it will continue to grow,” Howe explained. “Texas is one of the fastest-growing states in the nation, if not the fastest, and I think it will continue to grow.”
Nadeen Weybrecht, a recruiter at BCG Attorney Search, also sees a bright future for legal professionals in the real estate practice area in Texas.
“We are seeing that junior to mid-level real estate associates are being sought after in Dallas and Houston, Weybrecht said, “and I see no reason to think why this trend will not continue for the foreseeable future.”
Howe further explained that although Texas has seen its share of economic challenges like the rest of the country, the state didn’t bottom out like so many others. She said that the real estate sector has grown exponentially and that the economy of Texas has followed suit.
So, if real estate law is indeed a lucrative area in the state of Texas, what should young legal professionals do in order to put their best brief forward and grow their careers?
“I would recommend that a real estate attorney get plenty of varied experience in a lot of different areas,” Howe explained. “Candidates with real estate finance experience tend to get the most interest. Leasing experience is also something that firms tend to look for. And of course, candidates with a client list or those making endeavors to build a book will be attractive.”