How To Run An Effective Real Estate Internship Program
By: Gregg Cohen, CEO, JWB Real Estate Companies
July 13, 2011
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By Gregg Cohen
Our company has run an internship program for about 4 years now, and it has been one of the most rewarding experiences for both our interns and our company. It's a program that has produced 10 interns and many have gone on to experience amazing results in their own businesses. Check out this video one of our past interns, Miguel Ojeda, put together during our last Intern hiring process:
So, I recommend that every real estate investor (and every small business, for that matter) create an internship program but I've found that many entrepreneurs simply don't know how to put one together. So I thought I'd give you a brief overview of how our internship program works so you can model it:
The Progress Home Buyers Internship Program:
Every Intern must past a rigorous hiring process that includes submitting a resume, cover letter, and passing multiple interviews
The Internship lasts 6 months
It is a non-paid Internship
The interns are expected to work full-time hours during the Internship
Once trained, the Interns take on a lot of responsibility within our company (we don't just give them busy work) and they are expected to produce at a high level
When the Internship is over, the out-going Intern is responsible for training the incoming Intern
So, that's the framework of how the program is designed. Feel free to copy that exact framework when you are creating your own internship program. Now, here's a breakdown of why our Internship program is so beneficial for the Intern:
Benefits Of The Internship For The Intern:
Get free access to the Fortune Builders Mastery Coaching program during the Internship which typically costs $25,000
Free entrance into any real estate investing conferences held by Progress Home Buyers and many held by Fortune Builders
Life-long mentoring and relationships with the team at Progress Home Buyers
Access to our title agents, insurance agents, banking relationships, mortgage brokers and other powerful connections to help the Intern get his/her deals done
Free breakfast, lunch and dinner at the office
Opportunity to turn the Internship into a full-time position with Progress Home Buyers
Since we've started this Internship program, we've graduated 10 Interns. Many of them are still close to our business today and are actively making money in real estate. One intern, Paolo Cubas, earned a full-time position with our company and is now our Membership Manager for the JWB Real Estate Capital program. Another intern, Miguel Ojeda (from the video), is one of our top sales people for our property management company, Progress Property Management. Erin Nevins, who moved all the way from Seattle, Washington to complete the internship, is now actively building his real estate business and about to lock up his first REO deal just a few months after graduating the Internship program.
I hope you see what a positive experience a structured Internship program can be for your company and for your future Interns. Many small business owners are scared at the idea of bringing in an intern, but the rewards far outweigh the risks. Like many things in business, a successful Internship program comes down to bringing in the right type of people. And if you can do that, you will be amazed at the positive results for your bottom line, as well as the impact you are making on a future entrepreneur!
If you are interested in becoming the next Progress Home Buyers Intern, call our office at (904) 677-6777 or email us at firstname.lastname@example.org.
Progress Home Buyers is one of the country’s largest home buying and residential redevelopment companies. In the past 5 years, this team has bought and sold close to 250 deals and is on pace to complete 120 deals in 2011. The team speaks nationally to crowds of thousands of real estate investors with their mentors, Than Merrill & Paul Esajian of A&E “Flip This House,” have been featured multiple times in the Florida Times-Union and the Jacksonville Business Journal, and were also members of the Board of Directors for Jaxreia from 2009 – 2010. To receive 30 days of free real estate education from The Progress Home Buyers Team and their mentors, please visit www.provenprofits.com or call our office at (904) 677-6777.