Retirement doesn’t mean the end of a productive work life; it’s merely a transition to a new phase. Many retirees find fulfillment in beginning a second career, with commercial real estate being one viable option. This industry can offer flexibility, growth potential, and opportunities to leverage experience in a new context. If you’re considering this path, here are some steps to get started.

Step 1: Understand Commercial Real Estate

Unlike residential real estate, commercial deals in business properties—offices, retail spaces, warehouses, etc. Understanding the market, the types of properties, and the intricacies of commercial leases is essential. Spend time researching online, reading industry publications, and talking to people already in the field to get a good grounding.

Step 2: Get Licensed

Obtaining a real estate license is often the next step. Although requirements vary by state, typically, it includes a pre-licensing course and passing an exam. An online course can provide flexibility for self-paced study.

Step 3: Choose a Specialty

Commercial real estate is vast and diverse. You might choose to specialize in a specific type of property like retail spaces, or a certain aspect of the business like leasing or property management. Your choice should align with your interests, skills, and experience.

Step 4: Network

Networking is key in real estate. Start by reaching out to professionals already in the field for advice and mentorship. Attend industry events, join local real estate associations, and engage in online forums.

Step 5: Gain Practical Experience

Starting with an internship or a junior role at a commercial real estate firm can provide hands-on experience. Here, you’ll learn about property evaluation, negotiation, legal aspects, and much more.

Step 6: Be Persistent

The real estate industry can be challenging, and success often comes with patience and persistence. Stay positive, keep learning, and don’t get discouraged by initial setbacks.

In conclusion, transitioning into a career in commercial real estate post-retirement can be a rewarding journey. It involves learning, networking, gaining practical experience, and persistence, but many retirees find the effort well worth the outcome—a satisfying second career that engages their skills, interests, and entrepreneurial spirit in an entirely new way.