More companies today are investing in the training of this up-and-coming work force by offering internship opportunities to undergraduate and graduate students. There is proof that internships do create positive results: according to a recent survey by the National Association of Colleges and Employers, more than 62% of new college hires have had internship experience. In addition, employers offer full-time jobs to nearly two out of three interns and more than 70% of these offers were accepted. Interestingly, 31% of respondents said their new college hires were a direct result of their own company's internship program.

To help employers and students connect, the SelectLeaders Job Network, comprised of ULI , BOMA, CCIM, CMBS, Naiop, Nareit, NMHC, PREA, RICS, SIOR, GlobeSt.com and SelectLeaders launched the intern Job initiative. Anthony LoPinto, CEO of Equinox Partners, an executive search firm, and founder of SelectLeaders, tells GlobeSt.com that when they first launched the Intern job initiative during spring 2007, there was a good response across the board. "We are not only targeting real estate programs in schools, but we are also branching out to general graduate and undergraduate programs." Every major real estate school and most colleges and universities in the US have been made aware of the Real Estate Intern Jobs program, and employers from all sectors have used the network to advertise internship opportunities.

LoPinto continues that offering companies free job postings in each sector is not only doing something for the industry, but is imperative to the business. "Internships are a powerful way to attract undergraduate and graduate students to the real estate industry."

The real estate industry has a looming talent gap, and Generation Y is a critical solution to address the exposure that it presents to our industry. According to Deloitte research, Gen Y has the numbers to fill the gap, and they are also focused on finding meaning in their careers. Realizing that there needs to be a catalyst for promoting internships, the SelectLeaders Job Network is offering free Intern Job Postings.

Hiring an intern is a win-win situation. According to NACE, national average hourly salaries reported for interns from the class of 2007 were $15.99 for bachelor-level candidates and $21.95 for master's degree students. Companies running lean should find Gen Y's highly tech savvy and motivated talent pool especially appealing.