The Ultimate Guide To Commercial Property Solicitor Jobs
As the property market grows, there will always be a need for Commercial Property Solicitors. We give you an in-depth guide below on everything you should know about the sector and the job as a whole.
Commercial Property Solicitors: The Introduction
What do they do?
A Commercial Property Solicitor or ‘Conveyancer’ is tasked with taking care of all the legal aspects included in the sale or purchase of a commercial property. Property law can be a booming area of practice, the value of land and property is relatively secure and has always been seen as a safe investment for many throughout history. There will always be a market to buy, lease and sell so their will always be a need for legal professionals with experience in this field.
As a Solicitor in the commercial property field, the work could be divided into both the private and public sector, providing legal services for individuals, groups, developers, companies, governments or public bodies.
At the beginning, Solicitors will find themselves working on draft contracts and documents before assuming the role of involve negotiator between parties. Most junior Solicitors will handle small value properties, while the more senior members of the firm will handle higher value property transactions.
The daily tasks of a property Solicitor include:
- Negotiating property transactions
- Structuring arrangements for conveyancing or investments
- Preparing documentation, such as contracts to finalise transactions
- Collecting relevant property information from surveyors and confirming that the seller does indeed have the rights to sell the property
How do you become a Commercial Property Solicitor?
Becoming a Solicitor in the specialism is no small feat. However, with it comes the potential for an incredibly rewarding job, both financially and in terms of job satisfaction. Because of the nature of a Commercial Property Solicitor, knowledge in property law and being able to communicate effectively and in a way that can easily be understood by those who may not understand legal jargon is a must.
There are three main routes to becoming a Solicitor:
The law graduate
The majority of Solicitors qualify by this route. Typically, after the three-year course at university, graduates will undertake a Legal Practice Course for one year, followed by a period of recognised training that also incorporates the Professional Skills Course (Training Contract) over a further two years offered by Law firms.
The non-law graduate
This is similar to the law graduate – the difference being that they must undergo a law conversion course, either the Common Professional Examination (CPE) or the Graduate Diploma in Law (GDL). These courses last a year and serve as a bridging course that teaches everything that would have been taught throughout the law degree.
The Chartered Institute of Legal Executives (CILEx)
The CILEx is longer than the aforementioned routes because they are designed to allow you to study while in full-time work.
This course takes a minimum of five years and in order to qualify as a solicitor, one must also go on to complete academic and vocational training. Within the CILEx route, there are two ‘sub-routes’:
CILEx Membership – As a CILEx member, you would be required to undertake a period of recognising- training once completing the academic stage.
CILEx Fellowship – The involves working and training under a solicitor for two years once gaining membership, because of this CILEx fellows are exempt from the formal period of recognised training.In order to become a licensed conveyancer, you must also pass the Council for Licensed Conveyancers (CLC) exams.
Commercial Property Solicitors: Skills and Qualifications
- Relevant legal qualifications
- Attention to detail
- Ability to accurately collate and present information
- Logical in dealing with all concerned parties
- Thorough understanding of various property laws
- Strong negotiation and communications skills
- Client management
- Undergraduate law degree with Legal Practice Course (LPC)
- CPE/GDL with LPC
- Complete exams for membership of CILEx with LPC
- CLC exams
- A Level English
- A Level History
- A Level Law
Commercial Property Solicitors: Where can you go next?
Typically, a starter level conveyancer can expect to make £20,000 per annum, once qualified the salary can go upwards to £60,000 per annum. With experience, a Commercial Property Solicitor can end up managing a conveyancing department in a large company, or even setting up their own conveyancing firm.
Due to the nature of the market, people will always be buying and selling property, so there will always be a demand for qualified Commercial Property Solicitors and because of the previous qualifications accumulated there are more opportunities open to you if you decide to re-specialise.