Name: Annabel Ersser Firm: Mayer Brown Location: London University: Durham University Undergraduate degree: Theology and philosophy
Getting the deal through When grappling with the details for such projects, the downsides of working in real estate law become more prominent as it can be stressful to work on “time-pressured and time-sensitive deals, particularly when it comes to refinancing and acquisition financing, which often means that there are very tight deadlines by which to get a deal through”. However, Annabel is keen to highlight that the pace at which deals move is also thrilling, especially when this is combined with the fact that “you have a high level of interaction with clients, most of whom you have known for a long time and have built up a rapport with, so being able to oversee a project from start to finish is very rewarding”. When looking at the wider picture, Annabel and her Mayer Brown real estate colleagues are keeping a close eye on the development of technology and AI. Another big issue in the legal field – and across the country – is the ongoing uncertainty regarding Brexit, which has been compounded by the fact that “things are difficult for the real estate market at the moment, many companies are going into administration and selling-on premises”. The question of what replaces the London Inter-band Offered Rate (LIBOR) is another topic that is causing some consternation among finance professionals: “There has been a lot of discussion about LIBOR as it is likely to be discontinued by 2021 and floating rate financing is going to be affected. Working out and implementing the new provisions that will replace LIBOR is going to be a mammoth exercise.” Building relationships So, what are the traits and characteristics that make a great real estate lawyer? Annabel stresses that the need for a high level of commercial awareness is paramount, but the ability to understand technical concepts and arguments and to work under
pressure are also vital. Taking a logical approach is also important: “Being able to work through things systematically is really key; every day I have to approach things in an organised way and always make myself lists of things to get done each morning.” If Annabel could offer one piece of advice to budding solicitors, it would be to “truly make the most of your training contract. While you might enjoy one seat more than others, make the most out of all them. Building relationships is key, as transactional seats work across departments.” While you may not initially be attracted to the idea of a specific work area, Annabel advises: “Who knows what you might enjoy? I think it is key to break down misconceived preconceptions about areas of law.” While there is no golden nugget in terms of information Annabel wishes she had known before she became a solicitor, she reiterates the fact that she did not appreciate just how much of her time she would spend liaising with clients, which has become one of the most enjoyable aspects of her job: “I did not expect to be offering my whole view and opinion on a project or idea. I have found that in real estate, a lot of my clients really want to get my opinion on things and it is great to serve as a trusted adviser to a variety of businesses.”
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