UpClose With Bill Shopoff, President and CEO of Shopoff Realty Investments
Shopoff never envisioned a lifelong career in real estate, and yet he has been able to grow an enterprise over nearly four decades. Read on for advice on navigating these unchartered waters.
Bill Shopoff, president and CEO of Shopoff Realty Investments, never envisioned a lifelong career in real estate, and yet he has been able to enjoy the commercial real estate business and grow an enterprise over nearly four decades.
Studying at The University of Texas, his undergraduate degree was actually in Biology. Realizing Biology wasn’t for him, he decided to work on his MBA, and explore other careers. He ended up securing his real estate license simply to generate income, and focused on selling and leasing residential real estate.
“When I earned my MBA, the job market was weak and the offers I received actually paid less than what I was already earning as a part time broker, and so I made the decision to focus my career on real estate,” he tells GlobeSt.com.
After several years as a residential broker, he added land development and a brief foray into building homes to his resume and then decided his skill set was well suited to investment brokerage and began selling income properties, primarily small residential properties.
From there, various events occurred, which ultimately resulted in the establishment of an investment firm, more than 28 years ago. Originally based in Austin, TX, he moved the company to Southern California almost 20 years ago after seeing more opportunity in this market.
“As you can see, none of my career path was in my original plan, switching gears from biology to business to real estate – being open to new ideas and paths was paramount to my success.”
From direct experience, Shopoff says that every cycle, market downturn and significant economic event appears at the time like an insurmountable challenge, with new unknowns and unusual issues. “The crystal ball of the future always seems cloudy during these times.”
When asked if he could impart a little wisdom to an aspiring professional or entrepreneur navigating these unchartered waters, he says to “remain calm” and notes that “this disruption will pass.” He also suggests to “to keep your eyes and ears open for opportunity, and be bold and undaunted while you seek channels to learn, grow and build your future.”
Keep an eye out for the upcoming October issue is GlobeSt. Real Estate Forum, where Shopoff talks more about how young professionals should look into opportunities that might not fit into their preconceive idea of what their career might look like in our Best Practices Career feature. In addition, if you are a young professional, have you joined our group ALM Young Professionals Network on LinkedIn/? We’re having powerful conversations that tackle the challenges we all face early in our careers. Request to join here.