Institute for Real Estate Studies (IRES)
Real Estate Society Initiative
Concept Outline (8/31/11)
To enhance the value and reputation of Penn State Real Estate Scholarship by cultivating a community of active, engaged alumni; building and maintaining forums for student and alumni interaction; and providing meaningful connection between alumni and the Institute for Real Estate Studies.
The Real Estate Society (RES) is an IRES Advisory Board directive with the explicit purpose of enhancing and stimulating Penn State alumni engaged in the real estate profession to activity participate in real estate education and research at the University. The RES will be formally structured to allow for officer positions, committees, and/or taskforce organization. The RES initiative is multifaceted and includes:
- networking and business exchange
- speaker and panel engagement
- internship, co-op and permanent employment
- site, building and company tours
A program/strategy for development shall be devised around scholarship, research and practical experience. Financial donations via RES are important and will be a deliverable at the student level. Fundraising will be broad based and centered on the idea of giving over the level of giving. Therefore, 100% participation is the target. Our cause and the timing of the cause is unique and perfectly situated when coupled with the renaming of the department to Risk Management and the introduction of the new real estate undergraduate major. Alumni engagement will change and enhance the student experience. It is about responsibility and testimonial life changing stories of impact being traced to Penn State and real estate. How will the donation matter and make a difference? One way it can make a difference is in formalizing real estate career tract for students rather than being viewed as a career where people “fall” into the business as many Penn Staters have done. We are a collective of experiences and skill sets brought together by the real estate profession.
Penn Staters have a strong connection with “Ole State”. For many RES participants the University connection will be enough motivation in and of itself. For others it will be the opportunity to connect with students and give back. Many will leverage it to network and promote business opportunities. Yet, in all cases, it will be important to define and outline the “rewards” of their actions. We must be prepared to structure and offer RES participants, where possible, access to university functions, events, and the like.
“This Fall (2011) we are kicking off the IRES Real Estate Society. At its core this is an effort to activate and mobilize you to assist in enabling real estate education at Penn State to realize its full potential by investing in the next generation of real estate professionals, advancing our profession, and contributing to the Nittany Lion tradition. There are many ways you can participate in real estate scholarship’s future by giving of your time, talent and treasure. We very much appreciate your loyalty and support to Penn State. With your help as a member of the Real Estate Society, we can achieve the goals of the Institute for Real Estate Studies and for our students.”
“At the beginning of the 2011/12 fiscal year the Institute for Real Estates Studies (IRES) will participate in the launching of a number of new real estate education initiatives at Penn State. The IRES is pleased to announce the Department of Real Estate and Insurance is being renamed to the Department of Risk Management; creating a new undergraduate real estate degree ; and establishing an alumnus driven Real Estate Society. We look forward to a future with exceptionally strong real estate scholarship based performance. We invite you to participate in our future, craft an exciting story for the next real estate generation, and to strengthen ties with Penn State and real estate professionals. We value the trust you place in your Alma Mater, and with your help, look forward to delivering exceptional real estate education.”
RES Officer Governance
By serving as real estate points of contact for RES itself and the University, RES officers can act as a leadership gateway to Penn State real estate alumni and friends. While providing the energy and motivation, RES leadership can facilitate two-way access between the real estate industry and University people, the department and its programs to aid in the areas of faculty support, student aid, recruiting, professional programming, and perhaps naming opportunities.