- Jade Mills and Kalaan Brown are starting a sports division catering to professional athletes.
- Mills, a Beverly Hills agent known for extravagant listings and multi-million dollar deals, hopes to pair athletes from all sports with the right real estate purchase, which isn't always the biggest.
- Los Angeles and Anaheim are home to an NFL team, two MLB teams, two NBA teams and two NHL teams.
For professional athletes — some of whom purchase seven-figure homes before they can legally purchase alcohol — it’s especially important to understand the ins and outs of homebuying. Navigating a home purchase requires expertise, so Jade Mills and Kalaan Brown’s sports division seeks to advise this niche market.
Mills, a Beverly Hills (and beyond) agent known for extravagant listings and multi-million dollar deals, sees the sports division as one in particular that requires a certain panache. Alongside Kalaan Brown, another agent operating out of Beverly Hills, the sports division will help pair athletes from all sports with the right real estate purchase.
Mills’ 22-year-old son just recently graduated from college where he played basketball. She said that two of his friends will be continuing on to pursue careers in professional basketball.
“I think, sometimes, they want to buy from a friend, and maybe that friend has just obtained a real estate license. It may not be in their best interest to work with a friend, because that friend may not have the qualifications to do the best job for them,” she said. Although she did not disqualify using friends for real estate transactions, she reiterated the importance of location research.
“Just make sure they can direct you the right way,” she said.
With the relocation of the NFL’s Los Angeles Rams, at least 53 new professional athletes are in the area looking to rent or own homes.
“I am honored to be working alongside one of the very best in the business in Jade Mills,” Brown said in a statement. “Sports and real estate have always been a passion of mine, and with the L.A. sports community continuously growing, I’m confident we’ll be able to grow and expand this division for many years to come.”
More than just a home purchase
Some young athletes are given the keys to the kingdom when they sign their first contract. Although it may seem like they’re suddenly able to buy anything, Mills’ advice is to simply not just go out and purchase the most expensive house because it’s feasible at the moment.
“A lot of them buy and then are sorry they bought in a certain area. They were never really told where to buy. They were not advised what to buy, or how much to spend,” she said. “We would like to teach them where their money will be best spent. Where they will be able to have a good longterm investment if they want to move from Los Angeles, or if it’s something they need to keep and rent.”
A study done by Sports Illustrated in 2009 stated 78 percent of former NFL players were either bankrupt or under financial stress because of joblessness or divorce after two years from retiring from play, and an estimated 60 percent of former NBA players were in similar financial situations within five years of retirement.
Mills has been in the business for nearly 30 years. Her husband, Adam, is a luxury homebuilder. She said the key to the right investments is location and timing, and this is advice she plans on utilizing in developing her sports division.