Gen Y Interns May Help Real Estate Industry

NEW YORK CITY-In a critical move to attract Generation Y students into a career in real estate, the commercial real estate industry has banded together to expand the SelectLeaders Job Network’s Free Internship Jobs Posting Program. A recent study by Deloitte reported that, of the four million people who comprise the real estate industry, more than 50% are baby boomers heading to retirement, and Gen Y is the first generation with the capacity to help fill this large void.

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.