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