College athletes get real estate licenses
College athletes obtain real estate licenses through a nationwide initiative, enabling them to earn referral fees and support partnerships with agents.
A real estate licensing and mentorship initiative that started as a pilot in Salt Lake City has now become a nationwide effort for college athletes. Katy Cookston, who oversees NIL Real Estate from her Keller Williams office in Salem, Virginia, explained the program enables student-athletes to obtain real estate licenses while still enrolled, supporting referral partnerships that benefit both participants and experienced agents.
Athletes can earn referral fees when someone they send to an agent completes a transaction, gaining a credential they can use after college. After the first year, organizers approached other schools around the country, and Virginia Tech was among those that joined.
Expanding the Program
Cookston said more than 1,400 student-athletes have participated since the launch, representing 325-plus universities across the U.S. More than 200 athletes have joined during the current year, with the program distinguishing itself as separate from name, image, and likeness (NIL) arrangements.
Student-athletes receive mentoring and complete requirements to become licensed real estate referral agents. Cookston emphasized that the program is an NIL opportunity, not an NIL deal, as participants earn money by referring someone interested in buying, selling, or investing in real estate and the transaction closes.
Participants have completed the licensing requirements and are expected to build relationships, identify real opportunities, and generate business as licensed referral agents. Cookston noted that many participating athletes use those referral payments for college expenses, as they are not the ones receiving large NIL deals or having all of their educational and living costs covered.
A Career Opportunity Beyond College
The license is also useful after an athlete’s collegiate career ends, as it remains active as long as the agent completes continuing education requirements. Cookston views the program as a way to give young adults practical knowledge about housing and transactions, regardless of whether they ultimately make real estate their primary career.
When thinking about a 20-year-old, Cookston said they’re eventually going to buy a house, and their parents are probably going to sell. The program’s focus on college athletes also intersects with a demographic challenge facing real estate, as the National Association of Realtors reported that the median age of its members was 57, while 44% were 60 or older.
Cookston estimated that more than 40 agents were involved nationwide at the time of the interview, with Keller Williams supporting operations at the corporate level. Future priorities include expanding the number of Keller Williams agents willing to participate, as the demand from student-athletes is already substantial.
Participating agents have to be willing to mentor students and devote time to compliance requirements involving both college athletics and real estate. Cookston said the program is designed for those who really, truly want to mentor the next generation, who want to give back, and that they’re really lucky to have amazing agents across the nation who do.
Program Operations and Future Plans
Cookston aims to continue growing the agent count to meet the demand from student-athletes. The program is not organized as a network of separate branches, and Cookston runs it from Salem while Keller Williams agents participate as mentors. The program’s structure and operations are supported by Keller Williams at the corporate level.
