By: Zachary Royden Cooper
So...why Real Estate?
Incoming college students will ask this question whether their family is in the game or not. As a field, we are unglorified. Our industry lacks the Hollywood movies starring Leonardo Di Caprio which idolize our shenanigans. Even the stars of our field with the most publicity, cue Donald Trump, are notoriously secretive about the intricacies of their business dealings. In fact, instead of positive press, some would say that real estate developers have been vilified in enough B-rated productions to create a national stigma. But, fear not! You aren’t required to raze a forest or demolish the local historical landmark to be successful in real estate. The field is vast, diverse and able to accommodate you - however your skillset aligns. So, come aboard and buckle up! We are about to make you fall in love with the wonderful field of Real Estate.
1. Uniqueness of the Industry
This may read as cliche...but our industry is unique. Real Estate is the largest asset class in the world with the international real estate adviser, Savills, assigning an estimated value of $217 trillion in 2015! Trillion with a “T”! That is 2.7 times the world’s GDP and is mostly comprised of around 75% residential property. The all-encompassing size of real estate proves that our industry affects everyone on earth in one way or another.
Even while being the elephant in the room, Real Estate is also the quintessential entrepreneur’s industry. There are so many career paths in this industry (which we will explore in the blog) that anyone with enough ambition, perseverance, and vision can carve out a lucrative and meaningful career for themselves. The potential to be your own boss is sky-high! And with the ever-increasing trend of globalization, the barriers to entry for foreign markets continue to lessen. How few industries are as global in nature? From London, to Lima, to Lanzhou, to Los Angeles - real estate truly affects us all and real estate professionals are the sculptors who mold our man-made environment on an international scale.
2. Superpowers! A New View of the World!
Do you like to travel? Does urbanization or land use in general interest you? Have you ever wanted a superpower?
Well, want no more! With proper Real Estate training comes a new type of vision. Through the entrepreneurial real estate lens - land, buildings, and infrastructure will be seen in a different light. In your mind’s eye, the dilapidated duplex will become a ground-up construction opportunity, and the tired retail center will transform into the lively destination which acts as an epicenter of entertainment for a population! Every deal you will be involved in, and every vision you manifest into reality will leave a legacy for future generations.
3. You will be a contrarian!
Contrarian. Isn’t this the buzzword of the century.
Well, I have news for you. The entrepreneurs of the Startup Revolution and the legends of High Finance who use that word indiscriminately are no longer running away from the herd. Now, as every overachieving college student aims to create some redundant startup or pick stocks with the same return efficacy of a cat - you....my clever friend, will be entering an industry where you possess more control over your destiny. You will have a higher probability for wealth-creation and just as much opportunity for lifelong learning.
So, be different! Run away from the herd and into an industry which acts as the foundation for the world economy. An industry which will never bore you. An industry which will allow you to excel while being yourself.
4. Wealth. The rewards can be great!
It is no secret that the Real Estate Industry is the source of wealth for many of the ultra-rich. Forbes published in an article that 163 of the world’s billionaires made their money in Real Estate. Business Insider also stated in an article this year that 20.2% of experts recommended getting into Real Estate and Construction to profit off the population booms happening worldwide. Stated simply, if global Real Estate is valued at around “$217 Trillion”; then the industrious and ambitious will easily carve out their own little kingdoms.
While many say that wealth shouldn’t be your prime motivation for entering Real Estate, none can ignore the fact that wealth can give you the opportunity to support your loved ones and make memories - the real currency of life.
So...stay tuned, and welcome to the world of Real Estate.