Grosvenor Americas/UBC Sauder School of Business Summer Internship and Mentor Program in Real Estate
Overview and Objectives
The Grosvenor Summer Internship in Real Estate program initiated by Professor Tsur Somerville has been under the auspices of the UBC Centre for Urban Economics and Real Estate since 2001. The primary objective of the program is to provide professional experience and mentoring for select Sauder School of Business students the summer following their third year interested in a career in real estate. The program provides select third year undergraduates a paid position over the summer at the firms in real estate appraisal, asset management, commercial brokerage, consulting, development, finance, investment, or marketing. Students acquire valuable professional experience and build mentor networks. Sponsoring organizations gain access to the best and brightest students in an internationally renowned educational program. Through this program, the Sauder School builds bridges between education and training and strengthens the links between the Faculty and the professional community.
The full-time internship should run for three to four months over the period May to August. When circumstances and the relationship between student and sponsor are conducive to it, this engagement has often continued with part-time work once the school year begins. Sponsoring organizations are asked to provide full-time paid summer employment for the student. It is fundamental to the program that the sponsor provides mentoring to the student, introducing the intern to the organization’s role in the real estate industry. The objective is to be more than a summer job program. Ideally, the internship would involve a specific project that allows the students to see how aspects of their studies get applied in the industry. As part of their third-year program students study the basics of pro-forma analysis, appraisal, real estate markets, and urban land economics.
Admission to the program is through a multi-step process. First, students who have taken or are currently enrolled in COMM307 Real Estate Investment are encouraged to apply. From the applicants, a pool of potential candidates is selected based on their transcripts, resumes, and personal statements. From this pool, the most promising internship candidates are selected based on personal interviews. A selection of these top students is offered to each sponsor. Both the sponsor and the student must be agreeable for the internship to occur. The process is intended as a vetting procedure to deliver motivated, capable, high-caliber candidates to sponsors.
Structure and Administration
The program is currently administered by the Hari B. Varshney Business Career Centre at UBC Sauder School of Business with support from the UBC Centre for Urban Economics and Real Estate. Further information is available from Ms. Jane Arthurs, Assoc. Director of Business Development at the Business Career Centre (604-822-3127, Jane.Arthurs@sauder.ubc.ca) and Professor Tsur Somerville (604-822-8343, firstname.lastname@example.org).
The Sauder School is extremely grateful to Grosvenor Americas for providing financial support to administer this program.