Who, where and when will our Commercial real estate industry recruit tomorrow’s agents, brokers and leaders? This year, the National Association of REALTORS® reported that the median years of experience for a licensed real estate agent was 24 years; up from 20 years in 2016. Commercial real estate agents showed median years of experience as 19 years in 2017; up from 15 years in 2016. The median age of a commercial REALTOR® in 2017 was 60 years old and 73 percent were male. The share of members under 30 years old with less than two years of experience is 12 percent.
The Columbus REALTORS®, in partnership with the Commercial Member Services Committee, and the Commercial Education Committee, studied these issues in 2017. As a result, Committee Chairs Christine Beckman and Jay Zollars appointed a subcommittee comprised of Mark Sullivan, Bryan Savage, Sandy Cramblett, William Carpenter and myself. Through our collaborative efforts the vision that evolved will, “Create Entrepreneurial Opportunities for Tomorrow’s Real Estate Professionals.” Our mission, through which we will accomplish this, is the implementation of The Columbus REALTORS® Commercial Real Estate Internship Program.
Committee Chairs Christine Beckman and Jay Zollars also helped create a subcommittee comprised of William Carpenter, Sandy Cramblett, Mark Sullivan, Brian Savage and myself.
The subcommittee identified objectives for this new internship program including partnering with local colleges. The program will identify college level juniors and seniors enrolled in approved courses of study to participate as interns for our commercial brokers.
The students must meet minimum standards established for the program by both Columbus REALTORS® as well as their respective college and university. Since college credit can be earned through this program, the sponsoring brokerage would be asked to provide constructive and objective feedback of the intern and their success during the internship. In addition to feedback, brokerages would be expected to offer compensation, training and supervision, at least 15 hours weekly of work/duties and provide the intern with a student membership to Columbus REALTORS®.
Committee member William Carpenter explained that the program would involve site tours, job shadowing, multi department exposure, industry functions and other real-world experiences. William, along with Sandy Cramblett, Mark Sullivan and myself, recently attended Career Fairs at Columbus State Community College and Ohio Dominican University. During these events, the committee identified over 100 student candidates interested in the internship opportunity. Students from Capital University and Otterbein College have also shown interests.
“These internships could start as early as this spring but more than likely they would be scheduled over the 2018 summer term, Cramblett explained. Education Committee Chair Jay Zollars, stated Columbus REALTORS® is reviewing a program manual, which will include program, objectives, expectations, requirements and applications for both students and brokerages interested in participating in and setting up an internship program. He urges interested brokerage owner/managers to contact me at email@example.com or (614) 629-5228.