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(Chicago, IL, Jan. 28, 2009) – In its latest initiative to stimulate new internships in its industry sector and to help upgrade existing ones, the Institute of Real Estate Management (IREM^®) has developed  a new publication titled “An Employer’s Guide to Developing a Rewarding Internship Program in Real Estate Management.” Underwritten by the IREM Foundation, and downloadable free from the Employer Information section of  www.iremfirst.org/if/careercenter, the guide addresses:

• The benefits of internship programs for employers and students
• How to create and define the internship position
• Approaches for recruiting and selecting interns
• Structuring an internship program with components that include training, evaluation, and feedback
• Sample job descriptions
• And more.

According to IREM President Pamela W. Monroe, CPM^®,  internship programs provide newcomers to the industry with the preparation they need to succeed in real estate management.  “We are not only building a future for these individuals,” she said, “we’re building the future for the industry.”

HOW STUDENTS BENEFIT
“Both IREM and the IREM Foundation – whose mission is to help attract, develop, and retain individuals for careers in real estate management – recognize the many benefits students receive from internship experiences.” So said Robert Click, CPM^®, president of the IREM Foundation.  “Interns are given the opportunity to apply lessons from the classroom to real-world situations, learn new skills, and get a feel for the career they are about to enter,” Click continued. “These students then return to the classroom with a better understanding of the big picture, and are better able to complete assignments and projects. Upon graduation, they will have an established network of contacts in the industry and a practical understanding of the field.”

HOW EMPLOYERS BENEFIT
Observed IREM President Monroe: “Not only do students benefit from internships, but employers are rewarded with a pipeline of future recruits and potential employees.  In addition, interns may bring new viewpoints or creative solutions to existing problems.  Given the workforce development challenges facing the real estate management industry,” added Monroe, “an internship program is a great way to get new talent engaged in the industry.”

RELATED RESOURCES FROM IREM
Along with the new internship program guide, IREM has developed related resources to help address the real estate management industry’s workforce development challenges, including:

• “Careers in Real Estate Management” – a publication that details a wide array of career opportunities in the field and provides answers to key questions that students and other seeking a rewarding career path may have (downloadable from www.irem.org/pdfs/iremfirst/2008_IREM_brochure.pdf ).
• GetRealGetReady Career Center – accessible at  www.getrealgetready.org  – filled with career information specially geared to students and others who are making career decisions.
• IREMJobs.org – the online jobs board just for the real estate management industry that enables employers to post internship positions at no cost.

ABOUT THE INSTITUTE OF REAL ESTATE MANAGEMENT
The Institute of Real Estate Management (IREM®) is celebrating its 75th anniversary in 2008.  Major sponsors of the year-long celebration areYardi Systems, a leading provider of high-performance software solutions for the real estate industry, and the REALTORS® Commercial Alliance (RCA), the collective commercial constituency within the National Association of REALTORS®.

For more than seven decades, IREM has been the source for education, resources, information, and membership for real estate management professionals. An affiliate of the National Association of Realtors®, IREM is the only professional real estate management association serving both the multi-family and commercial real estate sectors. With 80 U.S. chapters, eight international chapters, and several other partnerships around the globe, IREM is an international organization that also serves as an advocate on issues affecting the real estate management industry.

Membership includes more than 18,000 individual members and 500 corporate members. IREM promotes ethical real estate management practices through its credentialed membership programs, including the Certified Property Manager® (CPM®) designation, the Accredited Residential Manager® (ARM®) certification, the ACoMcertification, and the Accredited Management Organization® (AMO®) accreditation. These esteemed credentials certify competence and professionalism for those engaged in real estate management. In addition, IREM offers Associate, Student and Academic memberships.

Collectively, IREM CPM® Members in the United States manage over $1.5 trillion in real estate assets, including 8.4 million residential units and 8.4 billion net square feet of commercial space. An additional 977,400 residential units are managed by IREM ARM® Members. IREM Members are employed by some of the most prestigious real estate firms in the world and nearly 70% hold upper-level management positions. Due to their professionalism and vast experience, property owners and investors worldwide continually seek out the management services of IREM Members.

To learn more about the Institute of Real Estate Management and its chapter network, call (800) 837-0706, Ext. 4650 (outside the U.S. call (312) 329-6000) or visit www.irem.org.