PRRES Newsletter

April 2011

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18th PRRES Conference Case Competition

The 3rd Pacific Rim Real Estate Society Case Competition was held in conjunction with the 2011 PRRES Conference. Six universities sent teams of four property students to compete in this competition; Bond University, the University of South Australia, Queensland University of Technology, the University of Sunshine Coast, the University of Auckland and the University of Southern California.

Each team of four students is provided with a real‐life real estate related case study and has five hours to carry out an in‐depth analysis and prepare a proposal addressing the key issues of the business. Each team then makes a presentation on their strategy and is given the opportunity to answer and defend themselves during question time with a judging panel of academic and industry practitioners.

Every year the feedback from students is very positive as the case competition gives undergraduate students an opportunity to hone their professional skills and to tick all the boxes looked for by future employers. Being articulate, analytical, a considered problem solver and a team player all give students the competitive advantage needed in such a challenging industry. The PRRES conference also enables students to appreciate the wider world faced by both property academics and industry practitioners and to understand how each tie in with the other.

The 2011 winning team was George Culver, Lani O’Brien, Natasha Sarkar and Jasmine Yao from the University of Auckland which has now won the title 2 years in a row (2010 and 2011). Another 2011 finalist was the University of Southern California (the winner of 2009 title). George Culver, student from the University of Auckland explains their winning strategy. “One of the cases was based around The Tower Company, which developed and owned a significant amount of property throughout north-east America. The company had a strong focus on green development and aimed to lead the industry in sustainable building design. We presented a marketing campaign to improve the occupancy of Tower's existing developments and a financial analysis to show the market could support their proposed level of environmental specifications. We also recommended future development once occupancy targets had been met.”

All PRRES members are strongly encouraged to field teams in the 2012 PRRES competition at UniSA.

 

Connie Susilawati PRRES Case Competition convener

 

PRRES 2011Case Competition - UniSA Student recounts

Judy Jackson

Thank you to UniSA for the opportunity to participate in the case competition. It is an event I will always remember and the experience has been of great value. It has certainly enhanced my ability to analyse property cases, and feel it has certainly helped in performing professional outcomes as well as professional presentation on a public speaking level as well. It was fantastic meeting the other competitors and hearing their experiences as well as watching the way they presented their case, particularly the US and NZ team!

I was amazed with Bond University and the sustainable element the university is designed around, also the conference based on sustainability has made me think this is an area I would seriously like to be involved in.

It was great the meet the academics on a personal level and thankyou to all of you for your hard work and involvement for making the case competition happen. I hope you all enjoyed the conference and the ambiance of the Gold Coast as much as our case comp team did.

Daniel Turner

Before being selected for the team I was unsure of what to expect about the program and what I would gain from the opportunity to represent UniSA at the PRRES Case Competition.

There was quite a lot of effort and extra study load that went into preparing for the competition but I must say was well worth it. The whole experience from arriving to the Gold Coast until the time we left was full of networking opportunities as well as time to have a look around the area and get to know my team mates.

The opening night of the ceremony was very enjoyable with the several shows that performed on the evening as well as the food and drink that was put on for the night. We got to meet all the other teams and taste food from around the country ie crocodile/kangaroo that other countries had mixed feelings about.

It was interesting to see how our Property course differs from those from other areas of the nation and also internationally and in particular being at PRRES opened my mind to the opportunities that could become available upon completion of the degree.

The competition itself ran very smoothly however due to the extra stress of the competition it was a very challenging day overall and tested all of our abilities to come together as a team.

Overall we produced a solid presentation and were very competitive amongst the field and received positive feedback from the judging panel. Although not making the final 2 teams we were happy with our efforts and what we had done. The following day was great for networking and hearing speeches from people within the industry and the work they do. Getting to know the people at the top of their field was invaluable.

All in all it is an experience that will be favourable on my resume and I definitely would encourage property students to try out in 2011.

Julie Thomas

 The PRRES competition was such a good opportunity for me. The number one reason being the ability to highlight that “I have been chosen among all the property students, to represent my university in an international property competition”. This was a great point for my resume and an impressive point to raise in job interviews. In particular it shows that you have the ability to apply your studies to real life cases and have developed presentation skills to a competitive and commercial business standard.

The competition also gives you a chance to apply your knowledge in real world examples where you don’t have the answer at the back of the text book. This skill is extremely valuable when you’re in the working world. You also get a really good understanding of how to tackle a problem, how to work with a team, how to manage your time and how to present your case and, again, these are all great points to raise in job interviews.

The practise cases themselves are also on a wide range of property topics which helps you apply what you have learnt in different property disciplines and gives you some exposure to the different property fields which may help guide your career direction. Meeting other students from across the globe also helped this. It was great to hear what some of the other students specialise in and how what their degrees focus on to get a wider understanding of the property world.

Aside from the career and development opportunities related to the case study and the conference, it was also great fun. You get to meet a great group of people from across the globe, I found plenty of time to party my butt off and even sneak in a trip to Dream World and the sunny Queensland beaches, but best of all it was all paid for by the uni.... AWESOME.. Why wouldn’t you do it really?

Angus Tuck

I had a great time and found the PRRES conference a really rewarding experience that I feel has led to great personal growth in preparing me for my ensuing professional career. I would highly recommend it to all students who want to develop themselves as well as enhance their CV's. Aside from all this serious stuff it was fun to meet and talk with other students about the way they are going about entering the workforce.

 

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