Anyone associated with the real estate market these days is living in very interesting times. The current downturn has affected owners, buyers, sellers, real estate agents, lenders, builders, developers, taxing authorities, retailers and educational institutions and attorneys — most notably you attorneys who have built your practice around real estate closings.

The housing market is now bifurcated, with normal sales accounting for 55% of the market and distressed sales 45%.* With the uptick in distressed sales (accompanied by an increase in government and lender requirements) the potential for fraud and confusion abounds. This means buyers, sellers, lenders, and real estate agents need your services now more than ever.

This is the time to market yourself as an essential part of every transaction. If you aren’t already focused on marketing during these troubled times, shift gears and figure out how to present yourself as the solution to those who need help understanding new requirements and the legal issues accompanying distressed sales.

Make a list of real estate agents and brokers who have used you in the past. Plan to be in regular touch with them and take them to lunch on a rotating basis. Offer to speak at their weekly meetings on a topic of their choice or set up a small seminar series for them at your office or the local Realtor’s association offices.

Add to the list any bank officers in a position to refer you business (to guard against mergers, broaden your contacts within the ranks of bank executives so you are not left high and dry when your sole contact is downsized). Aside from handling your present work load, there is no better use of your time than to focus on the marketing which will feed you further legal work in the future.

Things are not going to improve dramatically any time soon, but a recovery is inevitable given enough time. Herein lies the opportunity. Virtually every long term indicator is slowly moving upward. But don’t wait until another bubble forms – if make yourself useful during challenging times you’ll be even more valuable when times change for the better.