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When I get older I plan on going into the business and real estate field I am a teenager right now what should I be doing right now to prepare myself?

#business #highschool #real-estate #entrepreneur

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Anthony’s Answer

To add some fun easy things you can do right now (specifically for residential), you can watch HGTV and start to get an understanding of what adds value to homes (location, design). Property Brothers and Love it or List are 2 good examples of shows that show an before and after and what the increase of value is.

You can also spend some time understanding real estate values in specific neighborhoods on apps like Zillow and track homes from listing to sale.

Along with talking to Realtors about their career choice, perhaps you can shadow them for a day and see if you enjoy the experience?
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Frank’s Answer

Because residential real estate is going through tremendous disruption (e.g. Zillow) where agents may have less opportunities for revenue, I would recommend focusing on Commercial Real Estate where you work in helping large companies identify and typically lease or buy space as an investment (example: corporate offices, R&D campuses, industrial warehouses, etc) or build space for them (example: developers who build buildings or campuses).

I would start your learning journey by first watching YouTube clips on Commercial Real Estate 101 as this will give you a good foundation around how the industry works. You can next review the websites for the largest property management companies in the world like JLL, CBRE and Colliers. These sites contain very good information of how these businesses are structured, case studies showing how they work with their clients, research on topics like sustainability, workplace of the future, and other areas that you will find of interest.

Finally, once you get into university, some offer the opportunity to major in business with a specialization in real estate. You can also join a Real Estate club which is a great way to engage with other students who share a similar interest.

Good luck!
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Stephanie’s Answer

Hi Chelsey, it's great that you have an idea. I think some important considerations are how your classes / major align with this career track. When I think of business and real estate I think about a lot of possibilities like:

- Working as a realtor selling properties like homes to people
- Working for a real estate fund that buys all types of properties to create a portfolio
- Working for a team that does research into real estate for other companies
- Working for a developer that constructs real estate for various reasons

I would think about what might appeal to you and do some research into other types of jobs in that field. I'd think about classes, majors, clubs, jobs, and internships that will give you more insight into these careers. Don't be afraid to use your linkedin network to find some people to talk to as well!
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Nat’s Answer

Hello, there are many different areas of real estate, you will need to do research and definitely reach out to a lot of real estate professionals. Plus keep in mind there are many different real estate asset classes meaning, Retail, Office, Hospitality, Residential (Homes), Multifamily, Industrial, etc... You can get into the field of Brokerage and within Brokerage there is the real estate side and the financing brokerage as well. Lots of many different career choices.
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