|
The only problem with that analysis is that yes, there are far lower barriers to entry for a real estate agent.
But, what they do is also far simpler, with much less at stake. Essentially, either the house gets bought and sold, or it doesn't.
With law, there are many simple cases, slip and fall stuff, little contract, car accidents, etc.
But there are also much larger cases, where people's livelihood are on the line, their life savings, their business, etc.
With lawyers, there are really 2 or 3 different "classes." You have a top school/top firm class, and these are going to for the most part be very competent. They could not survive at a top firm if they didn't keep getting results for clients in relatively complicated cases.
You have a second class of competent, mediocre law school, mediocre competence attorneys. These are people who are never going to be lead counsel in a GM bankruptcy, but they will competently handle your dispute with your neighbor, your landlord or someone who owes you money.
The third class are the ones who went to undergraduate schools with no admissions requirements, a law school with little or no admission requirements, and have essentially no credentials, background, experience or ability in any large or legally complicated matter.
There are barriers to entry to becoming a "lawyer," but the barriers differ greatly depending on where you want to be slotted. Class 1 has significant barriers. Only a small percentage have the credentials to even get in the door at even a top 50 national firm. Class 3, the only barrier is really time. You can just go to an undergraduate school that has no real admission requirements, then to an unaccredited, "for profit" law school that also has no real admission requirements. You do have to pass the bar, but in most states that is not too difficult, and even in the harder states, you just keep taking it over and over until you pass.
In my experience and opinion, I'd put 5% of lawyers in to class 1, 45% into 2, and 50% into 3.
|