Stephen Williamson Brokerage Intern Summer Internship 2014
Transcript of Stephen Williamson Brokerage Intern Summer Internship 2014
S
Stephen Williamson
Brokerage Intern
Summer Internship 2014
Company Overview
- Westway Reality L.L.C. is a commercial brokerage firm started by
Benton Rutledge in 2012
- Westway is a small firm with only 8 employees but is rapidly growing
- Buys and sells income producing properties (retail, office) or land
- Westway Reality L.L.C. has recently started managing acquired assets
internally
Internship Responsibilities
Responsibilities are divided into four different groups:
Market Analysis of Real Estate – the study of the attractiveness and
the dynamics of a special market in the real estate industry
Financing of Real Estate – Reviewing the financing of individual
real estate properties
Real Estate Properties – Inspecting present and potential properties
“In-House” Appraisal – Researching appraisal data
Group 1 – Responsibilities
(Market Analysis)
Developing questionnaires
Perform cold calling
Assisting in calculations and quantitative analysis
Researching necessary records and statistics
Group 2 – Responsibilities
(Financing)
Surveying financing terms available
Contacting lending institutions concerning loan
availability, loan terms, and general data gathering..
Group 3 – Responsibilities
(Properties)
Inspecting properties (income-producing) with appraiser
or supervisor to gain experience in recognizing desirable
and undesirable features.
Accompanying the appraiser through all facets of an
appraisal
Group 4 – Responsibilities
(In-House Appraisal)
Performing “in-house” appraisal functions such as
obtaining comparable sales data, cost and income figures,
and assembling reports for the appraisals
Previous Academic Preparation
Accounting 209/210
Finance 409
Agec 422
Agec 315
Future Academic Preparation
Agec 432
Agec 434
Agec 424
Any Finance/Real Estate Courses
Real Estate/Economic
Concepts
Brokerage
Asset Management
(Mother) Cathy Patterson – Asset Manager for Greenway Investment
(Father) Jim Patterson – VP at American Momentum Bank
What I Wish I Knew
Real Estate Development
Real Estate Law
Future Career Plans
Applying to Texas A&M Masters of Real Estate program
this fall
Commercial Real Estate Brokerage/Development
Buying and Flipping Rural Land/Ranches
What I learned
The internal and external environment of the commercial real
estate industry
The elements of commercial real estate brokerage
How appraisals of properties are determined and the inputs and
outputs involved in determining economic value