According to Payscale.com, the average salary for a Real Estate Attorney in America is $86,000 per year. However, this figure may differ depending on the size and location of the city in which you live.
When it comes to the real estate industry, there’s much money to be made. However, not all lawyers can comfortably live off their legal skills. Some attorneys struggle to make enough to live on. Are you considering becoming a real estate attorney? Or are you already in the industry and need to know the average annual salary? This information will help you decide if this is a lucrative career path.
The Bureau of Labor Statistics reported the national average annual salary for a real estate attorney was $105,540. The BLS reports that the highest-paid state in 2016 was New York, where attorneys earned an average of $146,670 per year. The lowest-paid state was Texas, where they earned an average of $87,130 per year.
Where can I find out what a real estate attorney makes?
The first step is to look at the Bureau of Labor Statistics (BLS) Occupational Outlook Handbook. The BLS offers a free database that contains a wealth of information. One of its main sections is the Occupational Employment Statistics (OES).
This section lists the average annual wage by state, occupation, and industry.
Another useful section is the National Average Pay. It shows the average wage for different occupations in the United States and the median salary. You can also look at the Bureau of Labor Statistics (BLS) Occupational Employment Statistics (OES) for more precise data.
The OES is a database of U.S. employment statistics. It provides detailed, current, and accurate information about the employment of workers in the United States.
Information about different occupations is available, so you can quickly determine the most lucrative professions. The OES is organized into five major areas. These include the Labor Market and the Employment Status of Workers.
The Labor Market section covers the average wage and salary range. The Employment Status section looks at employment growth, job creation, and unemployment rates.
The average annual salary for a real estate attorney
According to the US Bureau of Labor Statistics, the average annual salary for a real estate attorney is around $72,000. This is a good starting point, but it doesn’t mean you will make this amount yearly. There is no guarantee that you will be able to earn this much, as several factors can influence the actual salary you will make. Here are a few things to consider when calculating the potential payoff of a real estate attorney.
State and National Average Salary Data
There’s a lot of money in the real estate industry. According to Payscale.com, the national average salary for a real estate lawyer is $101,700. However, there are wide differences between states. Payscale.com found that the highest-paid state is Nevada, where lawyers earn an average of $137,500.
In 2014, only two states had wages above the national average. The lowest-paid state is Mississippi, where the average salary is $58,600. The highest-paid job for lawyers in Nevada and California is general counsel. They earn $124,000 and $105,000, respectively.
While this is good news, the national average salary for all lawyers is still below the national average salary for all professions. In 2014, the average annual salary for all lawyers was $86,000. The federal average yearly wage for all professionals was $67,000.
Estimate the median salary for a real estate lawyer
There are several factors to consider when estimating the average salary for a real estate lawyer. The number one factor is the region you’re living in. The national median wage for a real estate attorney is around $160,000. The average income is slightly lower.
You can also estimate the median by city. The median salary in New York City is around $180,000. Another factor is your experience. You can calculate the median by years of experience, or you can estimate the median based on the number of cases you’ve worked on.
How much do real estate attorneys make?
According to the U.S. Bureau of Labor Statistics, the national average salary for a real estate lawyer is $105,760. This includes the median yearly earnings of $98,230. However, that’s not the whole story. There are different types of real estate attorneys, so the average salary varies based on the field. For example, if you specialize in foreclosures, you’ll earn a higher salary than a mortgage attorney. If you’re interested in commercial real estate, you’ll get paid a higher wage than a residential real estate lawyer.
Frequently Asked Questions Real Estate Attorney
Q: What is a real estate lawyer doing on the job?
A: A real estate lawyer helps clients with real estate law.
Q: How does a real estate attorney help clients?
A: Real estate attorneys help clients buy or sell real property or advise them on legal matters.
Q: How long does it take to become a real estate attorney?
A: Becoming a real estate attorney typically takes 2-3 years of study and training.
Q: What type of school would a person attend to study law?
A: To study law, students attend college or university to learn the law. Some states also allow people to complete law school online.
Q: What’s the best part about being a real estate lawyer?
A: The best part is that you get to represent your clients in court.
Q: What’s the worst thing about being a real estate lawyer?
A: The worst part is the hours you must put in.
Q: How can you tell if a real estate agent is trustworthy?
A: If they try to sell you something without showing you the property first, that is a red flag. Also, if they don’t show you the home when you agree to purchase it, that is a red flag.
Top 3 Myths About Real Estate Attorneys
1. A Real Estate Attorney earns $30,000-$40,000 a year.
2. A Real Estate Attorney is not allowed to practice law.
3. A Real Estate Attorney only handles real estate transactions.
Conclusion
You can make between $80K and $100K a year, depending on the size of your firm. In addition to salary, real estate attorneys receive bonuses and profit-sharing. I suggest looking into the American Bar Association’s ABA Commission on Lawyer Compensation to determine what kind of salary and bonuses you should expect to make. The Bureau of Labor Statistics reports that in 2017, the median salary for an attorney was $120,610.
