By Jared Council
jared.council@insidebiz.com
Wade Wawner, a recent Radford University graduate, walked into the Hampton Roads Association for Commercial Real Estate summer program as an intern and exited with a job at S.L. Nusbaum Realty Co.
The story is similar for Eric Hammond, even though he has another year left of school. He plans to work full-time at Divaris Real Estate during the day and finish his Old Dominion University degree at night.
Joseph Theil, who interned in the program last year and just finished his ODU degree, had eight job offers on the table he was considering last week after interviewing at about a dozen places. One offer was for a brokerage position at "the most successful team" in a national commercial real estate firm, he said.
"Four of the six members made seven-figure salaries last year, one of whom is 31," Theil said about the firm, which he declined to name before making his decision.
The HRACRE internship program just finished its eighth year, and the ranks of employed alumni continue to grow. Officials at the nonprofit advocacy group said many alumni work in commercial real estate, including eight they've tracked who work for HRACRE-member companies.
They expect the trend to continue.
"In our industry, it's all about exposure," said Jon Wheeler, CEO of Wheeler Real Estate Investment Trust, which hosted three interns this summer. "It's all about touches and relationships, and this is the genesis."
The six-week program involves interning at one of various member companies, as well a speed-mentoring breakfast with industry executives and a tour of Virginia's ports.
This year, for the first time, the interns met with Chesapeake's economic development director, Steven Wright, Patrick Henry Mall Manager Bob Orlando and Union First Market Bank executive Tom Dillon.
Also new this year to the internship program was the inclusion of two graduate students, both of whom interned with the city of Newport News, and a law student, who interned with Norfolk-based law firm Willcox Savage.
Wawner, 23, didn't even get to finish his internship with Liberty Property Trust - he was hired by S.L. Nusbaum three weeks in.
It all began when he met S.L. Nusbaum broker Stephanie Sanker on a building tour, Wawner said. Later that day, he said, he wrote her an email thanking her for her time and expressing interest in future employment opportunities.
In about two days officials from S.L. Nusbaum reached out to him about a job opportunity, Wawner said. The next day, a Thursday, he had an interview. He had another one the following Monday and started work that Friday, he said.
"Craig Cope at Liberty Property Trust felt like that was the best move for me," Wawner said about the real estate firm's vice president for Virginia, "that the reason behind the internship was to gain employment."
Hammond, 21, interned with Stewart Title & Settlement and got interested in brokerage along the way. Skip Sacks, the legal counsel for Stewart Title, helped forward Hammond's resume around, Hammond said, and the Divaris opportunity emerged soon after.
Juggling work and school during his senior year won't be anything new for Hammond. He worked at Walgreens for two years ending in May, and also worked at the Van Syckle Group and Chanello's Pizza this past semester.
"I see it as, if you have all these skills and potential, why would you wait until after graduation?" Hammond said. "This was the time to make it count, for me."
Theil, 24, of McLean, said he'd been doing research on commercial real estate markets up and down the East Coast and decided that he wants to work in Northern Virginia. He said the offers include positions for broker and financial analyst.
Theil said his experience at HRACRE was invaluable, principally because he was exposed to so many aspects of the commercial real estate ecosystem - from appraisals to lending to brokerage. The context bolstered his confidence, he said.
"I go into an interview knowing what I'm talking about," he said. "I've never been stumped on a question."
Theil said one of the biggest lessons he learned from HRACRE is networking. One of his job offers, he said, came from asking a friend's mother to reach out to a fellow church member. That person gave Theil a list of contacts, which included the person who ultimately offered him the brokerage job.
"That networking ability that HRACRE helped me foster was really one of the key roles in all the positions I've been offered," Theil said, "because I haven't been afraid to ask for help from people I don't know."