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Thread: Graduated, going to law school. Any lawyers or law students in here?
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08-22-11, 06:55 PM #1
Graduated, going to law school. Any lawyers or law students in here?
As of today I am officially finished with my bachelors degree in business information systems. Graduation next month and I'm thinking of enrolling in law school in Jan. Anyone that is admitted into law school must first take the LSAT (Law School Admission Test) so I'm starting a 6 week course in October to help me prepare for the exam.
Has anyone gone to law school or taken the LSAT that can give me some advice? My options for law school is either ASU or PSL (Phoenix School of Law). I was thinking about going to ASU because its a more reputable university but a family friend who is a lawyer told me to go to PSL. Students that go to PSL pass the bar exam at a much higher rate.
Also the family friend I spoke with told me that it doesn't really matter what law school you go to, all that matters is that you pass the bar exam.
Finally, I'm not sure what I want to specialize in. I am bilingual so I was thinking immigration because I wouldn't have any problem finding clients. Was also thinking about a real estate lawyer since I am licensed realtor, have a lot of contacts in real estate and already know about many of the real estate laws.
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08-23-11, 01:16 PM #6
Re: Graduated, going to law school. Any lawyers or law students in here?
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08-23-11, 01:46 PM #8
Re: Graduated, going to law school. Any lawyers or law students in here?
Ok a fair amount of mis-information flying around this thread. 1st off - immigration is not a bad area to get into, these lawyers primarily work with foreign individuals seeking to legally enter the country - usually sponsored by large corporations, or they are very rich, currently there is an exodus going on where wealthy Mexicans are fleeing the violence and legally entering the US along with all their cash. Your language facility will help you with any area of law you choose to enter so don't think about it limiting you to one particular area. We have Spanish speaking lawyers working with clients in areas including IP, Tax, Corporate, Real Estate, Litigation, Energy - pretty much across the board. It will be a skill set that makes you very attractive to a number of firms - particularly in the Southwest.
Real Estate is a pretty depressed area right now given the economy, but odds are when you are coming out of law school it should have rebounded - 3 - 5 years has generally been the cycle. Real Estate lawyers who do well generally work on the commercial/development side rather than residential.
As to law schools - my advice is to go to the very best school you get into and can afford, especially if you are looking to go into a larger firm to practice. (I have never heard of the Phoenix School of Law - I have run the recruiting program at a good sized Texas Firm for a number of years so take that for what it's worth).
As to LSAT prep - you're on the right track with the prep course. The test is unusal and the prep course should help you get ready for the Logic based nature of the LSAT. In addition take as many practice tests as you can stand.
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08-23-11, 03:07 PM #9
Re: Graduated, going to law school. Any lawyers or law students in here?
Thanks for the info Ira, very helpful. I have a question about the compensation.
I went to school/passed the Realtor exam in 2007 and have been working ever since. Are lawyers paid in the same way realtors are?
As a realtor, once your have your license pretty much every broker wants you to join their office (with the exception of commercial and luxury home) . I remember the day I got my license I was overwhelmed with the amount of calls and emails from brokers wanting me to join their office. The reason everyone want's you to join their office is this:
As a realtor you don't get paid unless you complete a transaction (sell a home, help someone buy a home, sell a business, etc). When you complete the transaction the standard compensation is 3% for residential and 5% commercial. From that 3% your broker will take anywhere between 10-30% unless you have a 100% commission plan in which you have to pay the broker around $500 regardless if you sell anything.
So basically the broker has nothing to do lose by hiring you. Compensation is 100% commission based. If you don't complete any transaction you don't get paid, and if you do the broker takes a percentage. This is why so many brokers want you to join their office. When I signed with RE/MAX, I was given a small office but after that your on your own. The office will pass on a lead to you every once in a while but for the most part you have to find your own clients.
Is lawyers compensation similar to this? Generally speaking what percentage does a firm take out of your legal fees? Does the firm really generate leads for you or are you basically on your own? The lawyer I spoke with said they are suppose to pass on lead to you but in his situation the owner of his firm would always pass down the good leads to his son.
What are the fees and continuing education requirements associated with the license? As a realtor I have MLS and PAR membership fees. I also have to take 24 hours of courses every 2 years to keep my license active.
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08-23-11, 03:12 PM #10
Re: Graduated, going to law school. Any lawyers or law students in here?
Good luck Mafioso! I regret not going to Texas Tech Law School many years ago. If I could get my current business under management, perhaps I could attend a small-cheese school around North Dallas. (SMU is too expensive)
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