Program in Real Estate
Willis Blackwood Director: Kevin J. Boyle
Academic Advisor: Jenene Belcher
Principle Faculty: D. Bieri – UAP, J. Everett - REAL, M. McMahon – AAEC, B. Murray – REAL, J. Robert – REAL, M. Walsh – REAL, and C. White – CEE, REAL
Overview
The nationally-ranked Program in Real Estate offers the B.S. in Real Estate through the Pamplin College of Business. The degree is a comprehensive, interdisciplinary academic program that draws classes and faculty from five colleges (College of Agriculture and Life Sciences, College of Architecture and Urban Studies, Pamplin College of Business, College of Engineering, and College of Liberal Arts and Human Sciences) to provide students with a dynamic education.
Real Estate courses integrate the material students learn in disciplinary courses such as finance, law, and property management through practical experiences within the academic program. The integration occurs though a university-industry partnership where real estate professionals are actively involved in students' education through guest lectures, mentoring experiences, and by providing internship opportunities.
In addition to learning about the broad field of real estate, students are encouraged to find their niche in the field. Students develop an area of expertise to fulfill their restricted electives requirement. This is accomplished by adding a second major or completing a minor (with the approval of their academic advisor) that meets each student's unique interests. Graduates of the Virginia Tech Program in Real Estate are prepared to enter the Real Estate industry and make immediate professional contributions.
Plan of Study
Note: Graduation requires a total of 120 semester credit hours. Requirements are subject to change; prospective students should contact their academic advisor prior to initiating their programs of study.
Degree Requirements
The graduation requirements in effect during the academic year of admission to Virginia Tech apply. When choosing the degree requirements information, always choose the year you started at Virginia Tech. Requirements for graduation are referred to via university publications as "Checksheets." The number of credit hours required for degree completion varies among curricula. Students must satisfactorily complete all requirements and university obligations for degree completion. The university reserves the right to modify requirements in a degree program.
Please visit the University Registrar's website at https://www.registrar.vt.edu/graduation-multi-brief/checksheets.html for degree requirements.
Remarks
Restricted Electives - Students must have a restricted elective plan of study signed by their real estate advisor comprised of courses that form a focused area of study in the real estate profession. This is accomplished by selecting and completing an approved second major or minor. Students may substitute courses from a second major or a minor for restricted electives if the courses are not real estate requirements.
Undergraduate Course Descriptions (REAL)
1004: DISCOVERING REAL ESTATE First year experience for the Program in Real Estate. Academic planning, career exploration, and resources for academic success. Leadership, team building, communication and problem solving in the real estate industry. Role of ethics in the profession. Introduction to peer and professional mentors. (2H,2C)
1014: CAREERS IN REAL ESTATE Provides an overview of multiple facets of the industry and highlights potential real estate careers. Examines academic training and specific skills needed to integrate knowledge from different real estate disciplines Provides an understanding of ethical leadership and pathways to achieve professional success through utilizing professional skills. Co: 2004 or UAP 2004. (1H,1C)
2004 (UAP 2004): PRINCIPLES OF REAL ESTATE Introduction to real estate, including markets, land use planning and zoning, development, finance, construction, sales, marketing, management and property valuation. Examines the key actors and processes in each of these areas. Explores major public policies impacting real estate (3H,3C)
2024: PRINCIPLES OF REAL ESTATE SALES Preparation for the Virginia Salesperson License Exam. Residential real estate sales, mortgages and deeds of trust, types of mortgages, liens, real property management, land use controls, deed restrictions, real estate laws, mandated disclosure, property tax and Real Estate Board Regulations. Pass/Fail only. Pre: 2004 or UAP 2004. (1H,1C)
2034: REAL ESTATE DATA ANALYSIS Overview of statistical analysis for use in the real estate market. Introduction of statistical tools and skills needed to draw conclusions from the data. Understanding data, coding and preparing the data, probability and inference, and special topics in inference including insights to inform ethical management and investment decisions. Pre: (UAP 2004 or REAL 2004), (REAL 2014 or REAL 1014). (3H,3C)
2044: PROFESSIONAL DEVELOPMENT IN REAL ESTATE Professionalism in the real estate industry including professional demeanor, interpersonal and intrapersonal skills, lifelong learning and ethics. Exposure to topics related to personal and professional development such as mentoring, networking, leadership, influencing, negotiating, personal improvement, and utilizing technology in a professional manner. Pre: 1014. (3H,3C)
2984: SPECIAL STUDY Variable credit course.
3024: APPLIED REAL ESTATE DEVELOPMENT Examines real estate development from design and construction through asset management. Develops analysis tools based on comprehensive plans and regulations, conceptional design, market analysis, design aspects of products, security financing and sustainability. Categorizes construction contracts, zoning, leasing and property management. Determine sustainability and observe various stakeholders. Pre: (UAP 2004 or REAL 2004), (REAL 1014 or REAL 2014), REAL 2034. (3H,3C)
3034 (MKTG 3034): REAL ESTATE MARKET ANALYSIS Market potential of residential, retail, office and industrial, hotels and resorts, and mixed use real estate development projects. Market analysis, identifying a market area, conducting demand and supply analyses, reconciling demand and supply. Pre: 2034, (ECON 2005 or AAEC 1005). (3H,3C)
3044 (FIN 3044): FINANCING REAL ESTATE PROJECTS Methods and tools for analyzing commercial real estate from the perspective of a developer. Land valuation, equity and debt financing, measuring project returns, public private partnerships, and real estate capital markets. Pre: 2034 or BIT 2405, AAEC 1005 or ECON 2005. (3H,3C)
3954: STUDY ABROAD Variable credit course.
3984: SPECIAL STUDY Variable credit course.
4034: REAL ESTATE ANALYTICAL METHODS Analytical approaches to contemporary topics and issues in real estate decision making. Content varies. Pass/Fail only. Pass/Fail only. (1H,1C)
4054: REAL ESTATE INVESTMENT ANALYSIS Analyze supply and demand to predict and model future real estate cash flows. Evaluate real estate investments using financial ratios and conduct financial risk sensitivity analysis to inform a real estate development decision. Generate formal real estate developmental reports. Participate in external real estate case competitions to further comprehension of a real estate analysis and report drafting. Restricted to REAL majors. Co: 3034 or 3044. Pass/Fail only. Pass/Fail only. (1H,1C)
4064: REAL ESTATE APPRAISAL Application of economic principles to the valuation and appraisal of property including statistical analysis. Cost approach, sales comparison approach and income capitalization approach to conducting appraisal. Appraisal report for evaluating rural property, commercial, residential and transitional. Ethical and professional requirements. Pre: Senior standing. Pre: 3044 or FIN 4154. (3H,3C)
4075-4076: REAL ESTATE STUDIO Course provides mock, real-world learning in a student-led, team environment. Teams will analyze, design and develop a plan, for a mixed use or complex real estate development. Project spans two semesters. Students select a team project in consultation with faculty and industry advisors. Work will focus on all elements of preliminary design and approvals required to initiate a real-world development. For majors only. Pre: 3024 for 4075; 4075 for 4076. (1H,6L,3C)
4964: FIELD STUDY Variable credit course.
4974: INDEPENDENT STUDY Variable credit course.
4984: SPECIAL STUDY Pass/Fail only. Variable credit course.