Have you ever heard of “global real estate”? No worries! Most people weren’t even aware of it until working with international clients became more accessible. And you’re in luck because, in today’s episode of The Real Estate Diplomat, we have Jakeeva Lee, the External Affairs Manager for the Chicago Association of Realtors and Manager of Industry and Global Relations for Illinois Realtors to share her experience connecting realtors and consumers worldwide. She has also helped countless professionals work with clients in acquiring and managing properties globally. So, whether you are looking to buy for investment, retirement, or remote work, global real estate has plenty of opportunities that you may want to look into. And there’s a lot to take away from this episode, so stay tuned and enjoy the show!
Why People Should Invest in Chicago
According to Jakeeva Lee, now is the best time to invest in Chicago, especially downtown. It is one of the most culturally diverse among the larger cities in the United States, with its natural, cultural exchange hubs and colorful communities. Not only that but Chicago also attracts new construction from foreign countries worldwide with its impressive skyline and other infrastructures. Additionally, Illinois has just as much potential with its vast farmlands as industrial spaces, attracting more international companies.
That being said, Chicago and Illinois’ greatness and potential are often missed due to negative messaging about some of the violent acts occurring in the city. But thanks to international property specialists like Jakeeva, Chicago and Illinois get to work with global partners as they put out positive messaging through the realtors and consumers in the community to prove it. Furthermore, the increase in migration to the suburbs in the past year has confirmed that the real estate space is alive and well. And with real estate going in cycles, homebuyers and former renters would be able to take advantage of the migration rate by providing spaces to invest in, whether short-term rentals or long-term residentials. In the end, Chicago, and to an extent Illinois, provides plenty of opportunities for international investments. And so, there is no better time to invest in these spaces than now.
Seeing the World as Global Citizens
Jakeeva Lee said, “living globally is something everyone should try.” When we go to different countries or try to explore a new culture, our eyes are opened to how different and similar we are to people across the globe. In turn, we also realize that the world has so much to offer, even within our community or city. And so, before you work with clients looking to invest in a foreign country, it is best to explore that country yourself. Even if you only went there a couple of times, those experiences reassure your clients that you know where they are investing in. After all, knowing that you love the place they are investing in goes a long way for both you and the client.
However, when exploring a different country, always be respectful of the nuances of their culture. But, again, you are still a foreigner, a representative of your own culture who should only work to be a good example. And to do so, we need to see the world and empathize with it as global citizens. In the end, we as humans should understand each other’s perspectives. And with how the world is today, it is imperative to feel for someone and understand their point of view. And so, when we travel internationally or interact with a foreigner, we have to put forward that part of us that is willing to give and is open to receive to expand our breadth of global knowledge.
About Jakeeva Lee:
Jakeeva Lee is the External Affairs Manager for the Chicago Association of Realtors and the Manager of Industry and Global Relations for Illinois Realtors. And as an association professional, Jakeeva has vast knowledge and a strong passion for DEI initiatives, member engagement, growth strategy, and philanthropic structure. Not only that but, she is also known for being an influential thought-leader with over ten years of relationship-building management skills to cultivate vibrant, strategic, external, and global partnerships.
Outline of the Episode:
[02:47] Jakeeva Lee’s journey into global real estate
[05:22] How people are missing out on Chicago’s beauty
[08:11] The best time to invest in downtown Chicago
[11:27] Jakeeva’s experience in Thailand
[13:12] Why everyone should try living globally
[15:00] Seeing the world and empathizing with it as global citizens
[17:05] Training to be a Certified International Properties Specialist
[19:17] Which countries to look into when planning to invest internationally
[23:27] How international investments dipped during the pandemic
[26:46] Understanding the impact of the global economy
[29:17] How global real estate brings communities together
[30:56] What places Jakeeva would love to have as second homes
Jakeeva Lee’s Linkedin: https://www.linkedin.com/in/jakeeva-lee/
Chicago Association of Realtors Global Real Estate Council- https://chicagorealtor.com/groups-and-networks/global/
Illinois Realtors Global Business Council- https://www.illinoisrealtors.org/membership/realtor-communities/global/
Connect with Aaron Masliansky!