Layla Zulfa
What began as a small, innovative experiment in Salt Lake City has blossomed into a nationwide program, forging a unique pathway for college athletes to secure real estate licenses and invaluable mentorship. This initiative, now directed by Katy Cookston from her Keller Williams office in Salem, Virginia, aims to equip student-athletes with a tangible career skill and a robust network, extending its influence far beyond the collegiate playing field.
The genesis of NIL Real Estate can be traced back to a pilot program initiated with athletes at the University of Utah and Brigham Young University. The core concept was elegantly simple yet profoundly impactful: empower college athletes to obtain their real estate licenses, thereby opening doors to a lucrative referral business while still actively competing in their respective sports. Crucially, the program pairs these aspiring agents with seasoned real estate professionals who provide guidance and support as they navigate the complexities of the industry. This mentorship not only facilitates the development of essential business acumen but also establishes a foundation for sustained success post-graduation.
Athletes participating in NIL Real Estate can generate referral fees by connecting individuals interested in buying, selling, or investing in property with licensed agents. When these referrals result in a completed transaction, the athlete earns a commission. This dual benefit — immediate financial opportunity and the acquisition of a transferable professional credential — distinguishes the program from many conventional Name, Image, and Likeness (NIL) arrangements.
Following the successful initial year of the pilot, organizers recognized the replicable nature of their model and began to scale their efforts. "After a year, they realized that what you can do once, if it’s successful, you can do over and over again," Cookston explained to HousingWire. "So, they branched out — reached out to a set number of schools across the U.S. They reached out to quite a few, and about 10 to 15 reached back out. They said, ‘Hey, we want to do this test program. We’re trying to work with student athletes. Here’s what we offer.’"
Among the institutions that responded positively was Virginia Tech. Cookston, herself a seasoned agent, was one of several professionals interviewed in the region and ultimately became the local agent committed to championing the program. Her involvement marked a significant step in the program’s expansion beyond its initial geographic footprint. Today, NIL Real Estate boasts an impressive reach, with over 1,400 student-athletes participating across more than 325 universities nationwide. The current year alone has seen the addition of over 200 new athletes to the program, underscoring its growing appeal and perceived value within the collegiate athletic community.
An NIL Opportunity, Not an NIL Deal
A fundamental distinction of NIL Real Estate lies in its operational structure, which deliberately separates itself from the more common transactional NIL agreements. While traditional NIL deals often focus on compensation for an athlete’s endorsement or promotional activities, NIL Real Estate centers on skill development and professional licensure.
Student-athletes involved in the program undergo comprehensive training and fulfill all the necessary requirements to become licensed real estate referral agents. This process is not merely a formality; it’s a rigorous educational journey. "We mentor student athletes at any level, and that’s the important part," Cookston emphasized. "They get their real estate license, and then they are a licensed referral agent with us, so that they can earn referrals their entire collegiate career and when they get out."
This emphasis on licensure and active participation in the real estate process is why Cookston firmly positions the initiative as an "NIL opportunity" rather than a straightforward "NIL deal." Participants are not simply being paid for their name or likeness; they are actively earning income through their licensed activities. They are expected to cultivate relationships, identify genuine real estate opportunities, and contribute to the generation of business, all while operating under the purview of a licensed professional.
The financial rewards can be substantial, with referral fees ranging from $3,000 to $5,000 per transaction. "They’ve earned it because they’re an actual licensed real estate agent," Cookston clarified. "So, they’re not getting a check just for showing up and smiling and waving." This financial compensation often serves as a crucial supplement to athletes’ college expenses, particularly for those who do not command the multi-million dollar NIL contracts that capture national headlines. Data from NCAA NIL Assist for 2025 indicates that the average NIL deal was $5,594, with median earnings significantly lower at approximately $1,031, highlighting the practical financial support NIL Real Estate can provide to a broader spectrum of student-athletes.
A Career Opportunity Beyond College
One of the most compelling aspects of NIL Real Estate is its capacity to provide athletes with a career pathway that extends well beyond their collegiate tenure. Unlike typical NIL agreements, which are often time-bound and conclude upon graduation, the real estate license obtained through the program is a permanent professional credential.
"It also sets them up for success after school because you don’t lose that real estate license," Cookston stated. "A normal NIL deal ends the day they graduate college." The license remains active, provided the individual adheres to continuing education requirements, offering a stable and potentially lucrative career option. This enduring benefit provides a significant advantage for athletes transitioning from structured collegiate sports to the professional world.
Beyond the direct career implications, Cookston also views the program as an invaluable tool for imparting practical financial literacy and an understanding of the housing market to young adults. "When you’re thinking about a 20-year-old, they’re eventually going to buy a house," she posited. "Their parents are probably going to sell. Their friends are going to buy houses. They at least have the knowledge to be smarter than the average person when they buy a house." This foundational knowledge can empower them to make informed decisions throughout their lives, regardless of whether they pursue real estate as a primary profession.
The program’s focus on college athletes also addresses a critical demographic challenge facing the real estate industry. The National Association of Realtors’ 2025 Member Profile revealed a median age of 57 among its members, with a substantial 44% aged 60 or older. By introducing younger individuals to the profession, NIL Real Estate is actively contributing to the rejuvenation and diversification of the real estate workforce. For Cookston, the impact is already tangible; she notes that she assists families in purchasing condominiums and townhomes in Blacksburg, Virginia, on a regular basis, a direct result of connections forged through the program.
One National Program, Backed by Keller Williams
NIL Real Estate operates not as a decentralized network of independent branches, but as a cohesive national initiative supported by Keller Williams. Cookston directs the program from her Salem, Virginia, office, while Keller Williams agents across the country serve as mentors. The real estate franchise provides overarching support for the program’s operations at a corporate level.
At the time of the interview, Cookston estimated that over 40 Keller Williams agents were actively involved as mentors nationwide. A primary objective for the program’s future is to expand this network of participating agents. The demand from student-athletes is already robust. "I would love to continue to grow our agent count to get our Keller Williams agents nationwide," Cookston expressed. "The athletes are not the issue. Clearly, over 200 athletes have already joined this year, right? Getting the athletes is not the issue; it’s getting agents to see value because we’re more of a mentor program."
The commitment required from participating agents is significant. Mentorship involves a substantial investment of time and effort, and agents must also navigate complex compliance requirements related to both NCAA regulations and real estate licensing laws. "There’s a lot that has involved in the back end," Cookston acknowledged. "We have to stay in constant compliance with NCAA, constant compliance with real estate, and combining the two of them is a lot of work."
This dedication to fostering the next generation of professionals is what defines the program’s ethos. "Our program is designed for those who really, truly want to mentor the next generation, who want to give back. We’re really lucky that we have amazing agents across the nation who do." These agents are not simply looking for a return on investment in the traditional sense; they are investing in the future, shaping the careers of promising young individuals, and contributing to the vitality of the real estate profession. The program’s success hinges on the willingness of these exceptional individuals to share their expertise and dedicate their time to a cause that benefits both the athletes and the broader industry.
