International real estate trip gives students a competitive edge

Lakeland College real estate appraisal and assessment (REAA) business major students are jet setting to Marida, Mexico to learn about that country's real estate system from April 26 - May 4.

Second-year REAA students Ryan McMeckan and Harmohit Singh say there are many reasons to be excited about the trip to the Mexican state of Yucatán and it is not the weather.

“As we compare Canada’s real estate system with Mérida’s, we get to look at both a modern city and ancient city including the Chichén Itzá, a complex of Mayan ruins and one of the second wonders of the world,” says McMeckan. 

The purpose of their trip is to compare Canada’s ad valorem taxation system, which translates to a tax determined by the value of a transaction or of property, to another country’s system, and to discover which system is better firsthand. They’ll also investigate financing, values and ownership, and other real estate topics.

REAA instructor Ken Rutherford is joining his students on the 10-day trip as they learn about the city’s taxation system from a local lawyer, explore Cancun and the Progreso Pier, the longest pier in the world, and more. 

Singh says the international field trip will give them a competitive advantage in industry, and help Canadians from all walks of life.  

“It's always good to know what's happening in different countries because Canada caters to people from all over the world. Whenever we get a chance to defend our system in Canada, we can use our knowledge from this trip to be confident in our system.”

Since 2015, REAA students have travelled to Brazil, Greece, Thailand and Vietnam. Rutherford, who has participated in every trip, says another valuable aspect of the trip is the relationships students build with one another.

“Relationships are strengthened on trips like this. When students get back to their everyday lives, they will have created a special connection with one another and possibly create a family within the industry. Lakeland alumni who have been on one of the trips may recognize other alumni and have the opportunity to make that connection.”