2024-2025 Academic Catalog
Welcome to Virginia Tech! We are excited that you are here planning your time as a Hokie.
Welcome to Virginia Tech! We are excited that you are here planning your time as a Hokie.
The B.S. degree in the Blackwood Program in Real Estate is a comprehensive, interdisciplinary academic program that draws classes from five colleges. The major offers real estate courses that 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 and the entire development process, students are encouraged to find their niche in the field. Students develop an area of expertise by adding a second major, completing a minor, or creating an area of concentration with the approval of their academic advisor. Graduates of the Blackwood Program in Real Estate are prepared to enter the Real Estate industry upon graduation and make immediate professional contributions.
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.
Restricted Electives - Restricted electives are courses comprised from a focused area of study in the Real Estate profession. This is accomplished by completing a second major or minor. Students are expected to work with a Real Estate Academic Advisor to ensure the completion of restricted electives.
Willis Blackwood Real Estate Director: Kevin J. Boyle
Associate Professor: D. Bieri
Collegiate Assistant Professor: J. Robert
Collegiate Associate Professor, William and Mary Alice Park Junior Faculty Fellow: S. Clements
Assistant Professor of Practice: H. Casey, J. Everett, M. Walsh
Instructor: M. McMahon
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.
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.
Explore the dynamic world of real estate with a multifaceted understanding of the field. Delve into the history of real estate and compare the fundamentals of real estate across real estate product types. Investigate zoning and design a spatial real estate zoning plan. Differentiate strategies for financial success in real estate, while examining the influence of government on the industry. Engage in discussions that use real estate to solve complex social problems while analyzing issues of identity and equity. Debate diverse outcomes and potential future developments within the ever-evolving landscape 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
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.
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.
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.
Evaluate zoning and entitlements to understand the feasibility of a real estate development. Recognize the process, stakeholders, and challenges associated with developing diverse types of real estate. Use due diligence research to construct a conceptual site plan. Assess constraints and requirements to select appropriate building design elements. Recognize and implement principles of sustainability in real estate development projects. Describe fundamental principles of the construction phase of development using industry-standard terminology.
Identification of real estate market areas and reconciling market supply and demand for investments and developments. Applications of market analyses to product types such as residential, retail, office, industrial, hotels and resorts, and mixed-use real estate projects.
Methods and tools for analyzing financial performance of real estate from initial investment to disposition. Sources and uses of both debt and equity capital. Utilizing proformas to assess risks and feasibility. Budgeting for stabilized properties.
Discuss principles of sustainability related to real estate development. Explore industry recognized sustainable rating systems for buildings and infrastructure. Practice project management strategies for scheduling and cost estimating a successful construction project. Identify key building systems and discuss the process for building renovation and construction. Determine the redevelopment potential of an existing site or building. Relate redevelopment principles to sustainable development. Evaluate the advantages and disadvantages of redevelopment projects based on existing conditions. Recognize the long-term economic, environmental, and social impacts of project decision making.
Analytical approaches to contemporary topics and issues in real estate decision making. Content varies. Pass/Fail only.
Advanced concepts and practices in real estate investing with topics including but not limited to advanced real estate financial modeling, investment risk and return analyses, securitization, sources of funding, portfolio management, and risk management strategies.
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.
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.
Course provides mock, real-world learning in a student-led environment. Design, analyze site and financial feasibility, formulate construction plans, and execute leasing and sale of a residential real estate project. Select a project in consultation with faculty and industry advisors. Work on all elements of the life cycle of a residential real estate project from preliminary design through sale of the developed project.
Couse provides mock, real-world learning in a student-led, team environment. Teams utilize knowledge from prerequisite courses. Teams undertake year-long projects where they design, analyze site and financial feasibility, formulate construction plans, and execute leasing and sale of complex commercial real estate developments. Teams select projects in consultation with faculty and industry advisors. Work focuses on life cycle of real estate projects from design through sale of development. 4075: topics covered include team building, site/project selection, due diligence, initial site design and market analysis. 4076: topics covered include final site design, financing, construction, leasing and property management, and sale. For majors only, senior standing. Design/Lab Studio.
Couse provides mock, real-world learning in a student-led, team environment. Teams utilize knowledge from prerequisite courses. Teams undertake year-long projects where they design, analyze site and financial feasibility, formulate construction plans, and execute leasing and sale of complex commercial real estate developments. Teams select projects in consultation with faculty and industry advisors. Work focuses on life cycle of real estate projects from design through sale of development. 4075: topics covered include team building, site/project selection, due diligence, initial site design and market analysis. 4076: topics covered include final site design, financing, construction, leasing and property management, and sale. For majors only, senior standing. Design/Lab Studio.
Fundamentals of law as it applies to real estate ownership. Rules, rights, and duties of owners of real estate. Elements of contract law and legal documents, including acquisition and disposal of property, leases, and agreements with third-party service providers. Implications for real estate taxation. Pre: Junior standing.
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