2022-2023 Course Catalog

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Real Estate (REAL)

REAL 1004 - Discovering Real Estate (2 credits) 

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.

REAL 1014 - Careers in Real Estate (1 credit) 

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. Pre: First year or sophomore standing.

Corequisite(s): 2004 or UAP 2004. 
REAL 2004 - Principles of Real Estate (3 credits) 

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

Cross-listed: UAP 2004 
REAL 2024 - Principles of Real Estate Sales (1 credit) 

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.

Prerequisite(s): REAL 2004 or UAP 2004 
REAL 2034 - Real Estate Data Analysis (3 credits) 

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.

Prerequisite(s): (UAP 2004 or REAL 2004) and (REAL 2014 or REAL 1014 or FIN 2164) 
Pathway Concept Area(s): 5F Quant & Comp Thnk Found., 10 Ethical Reasoning 
REAL 2044 - Professional Development in Real Estate (3 credits) 

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.

Prerequisite(s): (REAL 2004 or UAP 2004) and (REAL 2014 or REAL 1014 or FIN 2164) 
REAL 2984 - Special Study (1-19 credits) 
REAL 3024 - Applied Real Estate Development (3 credits) 

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.

Prerequisite(s): (REAL 2004 or UAP 2004) and (REAL 2034 or BIT 2405) and (ECON 2005 or AAEC 1005) 
REAL 3034 - Real Estate Market Analysis (3 credits) 

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.

Prerequisite(s): (REAL 2004 or UAP 2004) and (REAL 2034 or BIT 2405) and (ECON 2005 or AAEC 1005) 
REAL 3044 - Financing Real Estate Projects (3 credits) 

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.

Prerequisite(s): (REAL 2004 or UAP 2004) and (REAL 2034 or BIT 2405) and (ECON 2005 or AAEC 1005) 
REAL 3954 - Study Abroad (1-19 credits) 
REAL 3984 - Special Study (1-19 credits) 
REAL 4034 - Real Estate Analytical Methods (1 credit) 

Analytical approaches to contemporary topics and issues in real estate decision making. Content varies. Pass/Fail only.

REAL 4054 - Real Estate Investment Analysis (1 credit) 

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.

Corequisite(s): 3034 or 3044. Pass/Fail only. 
REAL 4064 - Real Estate Appraisal (3 credits) 

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.

Prerequisite(s): REAL 3044 or FIN 4154 
REAL 4074 - Residential Real Estate Studio (3 credits) 

Course provides mock, real-world learning in a student-led environment. Students design, analyze site and financial feasibility, formulate construction plans, and execute leasing and sale of a residential real estate project. Students select a project in consultation with faculty and industry advisors. Work focuses on all elements of the life cycle a residential real estate project from preliminary design through sale of the developed project. For majors only, senior standing.

Prerequisite(s): REAL 3024 and (REAL 3044 or FIN 3044) and MKTG 4734 
REAL 4075 - Commercial Real Estate Studio (3 credits) 

Course provides mock, real-world learning in a student-led, team environment. Each team undertakes a year-long project where they collaborate to design, analyze site and financial feasibility, formulate construction plans, and execute leasing and sale of a complex commercial real estate development. Teams select projects in consultation with faculty and industry advisors. Work focuses on all elements of the life cycle of a real estate project from preliminary design through sale of the development. For majors only, senior standing.

Prerequisite(s): REAL 3024 and REAL 3034 
REAL 4076 - Commercial Real Estate Studio (3 credits) 

Course provides mock, real-world learning in a student-led, team environment. Each team undertakes a year-long project where they collaborate to design, analyze site and financial feasibility, formulate construction plans, and execute leasing and sale of a complex commercial real estate development. Teams select projects in consultation with faculty and industry advisors. Work focuses on all elements of the life cycle of a real estate project from preliminary design through sale of the development. For majors only, senior standing.

Prerequisite(s): REAL 3044 and REAL 4075 
REAL 4964 - Field Study (1-19 credits) 
REAL 4974 - Independent Study (1-19 credits) 
REAL 4984 - Special Study (1-19 credits)