Explore a Bachelor's Degree in Real Estate
As real estate majors, students will learn how to develop, appraise, purchase, and sell land, houses, and buildings. Closely related to the fields of finance and business, this major leads directly to a specialized career. While a college degree in real estate is not required for entry into the field, real estate and other business courses will provide a stronger foundation for prospective real estate agents, brokers, and appraisers. Undergraduate real estate programs typically require 120 credit hours, although this requirement will vary based on the individual program.
The curriculum of a real estate program will include classes in economics, business, accounting, marketing, urban studies, statistics, and real estate investment and finance. In these classes, students will learn about residential and commercial real estate, brokerage, real estate valuation, and financial management.
- Real Estate Law. This class will approach the fundamentals of real estate finance and development from a legal perspective. The course may cover topics such as land acquisition, tax aspects, and choice of entity. Students will learn the rights of buyers and sellers, and they may also learn how to draw up contracts.
- Real Estate Investment and Financing. This class will cover project valuation, financing strategies, investment decision making, and real estate capital markets. Students will consider cases to evaluate the impact of complex financing and capital markets tools in real estate.
- Real Estate Entrepreneurship. Students will learn about the dynamics of real estate development in the United States, studying both past and present real estate projects. They will study the risks common to real estate development and develop their skill set in areas of leadership, decision making, financing, budgeting, and marketing.
Students will participate in lectures and discussions, most likely via a content management system. Case studies will provide exposure to real world applications of real estate issues. Students will be evaluated based on midterms and final exams.
Building a Career
Real estate majors may go on to work in consulting firms, insurance companies, banks, and other facilities, where they will work as buyers, entrepreneurs, property managers, agents, brokers, or appraisers. However, before they join the workforce individuals must obtain a real estate license. They must pass a series of exams and gain some experience in the field before they can call themselves "realtors."
According to the US Bureau of Labor Statistics' (BLS) Occupational Outlook Handbook, the median annual wage of real estate brokers was $54,910 and the median annual wage of real estate sales agents was $40,030. Government economists estimate that the field will experience average rates of job growth. However, remember that these figures are just estimates and your particular salary or job prospects will depend on your level of education, experience, and your employer.