Internship program offers mutually beneficial relationship

According to statistics published by the National Association of Realtors® (NAR), the median age of Realtors® is 56, while the median age of the average American worker is 41. The real estate business is aging, and with few millennials taking up the profession, the industry is in need of fresh talent. In fact, real estate marketing software firm Imprev’s 2013 Thought Leader Survey found that real estate brokers cited attracting younger agents to their firms as their biggest challenge.

The Pennsylvania Association of Realtors® (PAR) has recently teamed up with Penn State University’s Smeal College of Business to offer internships to interested students, with brokers acting as supervisors. In this mutually beneficial relationship, interns will gain first-hand experience, knowledge, and skills working in the fast-paced environment.

In addition to credit given via PAR channels, this program affords brokers a competitive edge on recruitment and can lead to a professional, degreed agent with first-hand experience in the broker’s internal operation. The internship program also solidifies the Realtor® brand as a viable career choice and elevates awareness of the high standards the industry is committed to upholding.

“The knowledge that can be shared by an experienced broker far exceeds any learning from a classroom. There is nothing like on-the-job training,” said Bette Zrimsek, owner of RE/MAX South, Inc. in Pittsburgh.

“Real estate is not about the bricks and mortar,” added Zrimsek. “It is about the lives of the clients you work with. With the complexity of each real estate transaction comes a whole new chapter of knowledge.”

There are 70 million members of Generation Y looking for a career. Most don’t consider real estate as an option. According to research from NAR, Generation Y has the largest share of homebuyers at 31 percent, but the lowest share of real estate agents, coming in at only 12 percent.

The internship program is a way to show these career-hungry students how a future in real estate can shape their careers. According to the Why Generation Y study published by ERA, Generation Y deems financial success “extremely important.” The unlimited income potential appeals to their drive for economic success. Additionally, the flexible hours and entrepreneurship that go hand-in-hand with a real estate career appeal to Generation Y’s on-the-go lifestyle.

Linda Carnevali, regional manager of Berkshire Hathaway HomeServices The Preferred Realty, has worked with several interns over the years, and believes the program is a valuable asset.

“Our internship program has provided an opportunity to students who have an interest in real estate as a potential career to get a semester of a ‘Day In The Life’ of a Realtor®. Many of our interns have continued on with obtaining their real estate license through our scholarship program. This is an unprecedented idea in our area, we love having this generation of potential agents get first-hand knowledge of what it takes to be a Realtor®,” she said.

“Many of our interns are marketing or business majors and are looking to become successful entrepreneurs, and we feel that there is no better opportunity for someone than to give them the skill set, tools, and training they need to jumpstart their career on the right path with the best company,” added Carnevali.

For more information, visit PAR’s internship program guide, and we will walk you through the simple process.