Of Mutual Benefit
Wednesday, May 25, 2016
Orlando REALTOR® | MayJune 2016
What your business can do for a student intern is just as important as what a student intern can do for your business
The University of Central Florida College of Business Administration Integrated Business Program is currently seeking to place student interns with real estate brokerages and/or individual REALTORS® — a win-win situation for those who could benefit from the temporary expertise of a small business rock star in the making.
The students in the Integrated Business Program are preparing to manage a wide variety of activities across all operational functions of a small to mid-sized company. Rather than specializing in a particular area, the students take core business degree coursework plus classes along the entire business education spectrum:
- Project management;
- B2B and B2C selling;
- Human resources management;
- Small-business finances;
- Managerial economics;
- Applied business technology;
- Foundations (core professional skills, including ethics); and
- Data analysis.
Students of the program come prepared with unique understanding of small- to mid-sized businesses and the challenges they face. Interns who are employed by a brokerage or individual REALTOR® should work on professional entry-level projects that expose them to the structure, operations, and decision-making processes of the company. Those with a special interest in the practice of real estate in addition to operations may also perform real estate related activities as permitted by the Florida Real Estate Commission for unlicensed assistants.
Internship Project Ideas
For Brokerages And REALTORS®
--Organize and evaluate any aspect of the company’s historical performance.
--Develop a social media presence and integrate it into the sales and marketing process.
--Research and summarize industry-specific best practices for human resources processes and policies.
According to program coordinator Jim Gilkeson, Ph.D., CFA, the key to a successful intern partnership is for the brokerage (or REALTOR®) to have a clear vision of the areas in which it needs help and that will be both of value to the organization and provide a good experience for the intern. Having that clear vision in advance will help the students “self select” for the internship that best fits their skills, abilities, and interests.
Brokerages and REALTORS® who wish to apply for an intern should meet the following criteria:
- Be an established organization with a non-residential physical location.
- Provide the intern with a minimum of 160 hours of employment completed in a professional environment over the course of a semester.
- Pay the intern at least the current rate for minimum wage or equivalent stipend.
- Provide challenging and professional experiences, with no more than 20 percent spent on clerical work or menial tasks.
- Expose the intern to the structure, operations, and decision-making processes of the organization.
- Offer the intern an opportunity to assess their abilities and interests in a business career, to use academic knowledge, and to gain valuable practical experience.
- Provide ongoing feedback to the intern regarding their performance, and provide a performance appraisal at the end of the semester.
Learn more about the internship program and download an application
Learn more about the UCF Integrated Business Degree program
Review permissible activities of an unlicensed real estate assistant in Florida