Students

Class Presentation
 
Career in Real Estate

▼   Why a real estate career?

A common misconception is that careers in real estate only involve selling houses. It is true that a substantial number of real estate industry participants devote their practice to the residential side of the business, but real estate training opens doors to an incredible variety of other career options, and presents many options to meet a wide range of people. Numerous opportunities exist for career development, progression, and promotion, and hard work is often recognized and rewarded. Transferrable skills also provide occasions to move into other fields and roles, while internationally recognized skills and qualifications provide opportunities to travel and work abroad.

To learn more about the opportunities in real estate, please review the information below or contact our Director

▼   Career Opportunities

Real estate offers a huge range of career options, whatever your personal area of interest and experience, including:

Appraisal, agency, and building management

  • Valuing for purchase, sale, lease, investment, mortgage, rating, insurance, compensation or taxation
  • Negotiating for sale, purchase, lease or auction
  • Managing and maintaining residential, commercial, educational, medical, institutional, hospitality, and industrial property

Estate and property management

  • Auctioneering, rating, taxation, property investment, portfolio management and rent reviews
  • Valuing for mortgages, rates, rents and inheritance tax
  • Facilities management, covering tangible assets, support services and people

Planning

  • All aspects of urban and rural planning
  • Advising on economics, amenities, conservation and urban renewal schemes
  • Working with planners to implement plans within a given timescale and budget Quantity surveying and cost management


Finance, investment, and development

  • Advising on development, land purchase or compensation for compulsory purchase
  • Financial aspects of real estate, including the sale, purchase and portfolio management of investment property and the financing of real estate projects
  • Working with and understanding the roles of bankers, accountants, developers and major institutional investors in real estate
  • Traditional quantity surveying, cost consultancy, project management, contractor surveying and facilities management
  • Preparing feasibility estimates, contract documents and procurement strategies
  • Cost planning and control from design to completion
  • Identifying client objectives and translating them into a design brief while ensuring integration, monitoring and control of project contributors
▼   Real Estate Career Salary Trends
According to the U.S. Department of Labor’s “Occupational Outlook Handbook,” in 2015, there were 421,300 real estate sales agents earning median annual incomes of $45,610; growth is expected at 3% annually through 2024. In 2015, there were 85,800 appraisers and assessors earning median annual incomes of $51,860; growth is expected at 8% annually through 2024. In 2015, there were 313,800 real estate property managers earning median annual incomes of $55,380; growth is expected at 8% annually. In 2015, there were 38,000 urban planners earning median annual incomes of $68,220; growth is expected at 6% annually. There is no Labor Department data available for earnings of real estate developers. While real estate developers’ incomes can be incredibly substantial, the practice of real estate development involves substantial inherent risks as well. Additional information on career tracks in real estate is available from the National Association of Realtors: http://www.realtor.org/REALTORorg.nsf/pages/careers

 

Study Real Estate at the Mitchell College of Business

▼   High School Preparation
Students who want to pursue the Real Estate Concentration should take college-prep mathematics courses in high school.  Courses in statistics and especially AP courses in mathematics would be of even further benefit.  The University’s Office of Admissions evaluates such matters and handles assigning college credit where appropriate.  Students should also have excellent writing and public speaking skills.  Finally, if possible, take courses to become adept at using spreadsheets. 
▼   How to Major in Economics and Finance with a Concentration in Real Estate

 

Complete 200- & 300-Level Business Core courses

Complete the PREP Courses

Take the following six (6) courses:
ECO 315 Intermediate Microeconomics
FIN 343 Money Markets & Financial Institutions
FIN 344 Real Estate Principles
FIN 444 Real Estate Valuation
FIN 446 Real Estate Finance & Investments
FIN 448 Real Estate Law
and choose three (3) courses from the following:
ECO 372 Economics of Urban Development
FIN 345 Principles of Insurance                      
FIN 350 Financial Statement Analysis 
FIN 420 Investments                            
MGT 347 Franchising                             
MKT 381 Sales Management & Personal Selling
Complete Two additional electives
Complete MGT 485 and 486

 

▼   Special Programs, Co-ops, Internships, and Scholarships
Real Estate Concentration students will have opportunities to work as interns in the Center for Real Estate and Economic Development, as well as for a number of firms in the region. Student aptitudes and interests will be matched with internship availabilities on an individual basis. A number of annual scholarships are also available to students studying real estate ranging from $1,000 to as much as $7,500 annually.
▼   Study Abroad Opportunities

Consistent with the University’s priorities, the Mitchell College of Business offers a range of international study opportunities for its students in various regions of the world.  Options include semester-long study abroad experiences in fall and spring semesters and shorter-term options, such as faculty-led short-term courses, usually offered in the Maymester or summer.  For further details, please contact the MCOB Director of International Studies.

 

Scholarships

▼   Aloyis Sonneborn Endowed Scholarship

The Aloyis Sonneborn Endowed Scholarship was established in May 2007 for the purpose of providing financial assistance to a deserving student studying Real Estate within the USA Mitchell College of Business. Applicants must have a minimum 3.0 GPA. 

Preference shall be given to applicants with a favorable letter of recommendation from a member of the MCOB faculty. Preference shall also be given to applicants who have declared Real Estate as a major, plan to pursue Real Estate as a career, and has completed at least one Real Estate course.

To apply for this scholarship, please use the University's JagSPOT Portal

▼   Alton R. III and Toni G. Brown Endowed Fund in Real Estate

This scholarship was established in 2008 for the purpose of providing financial support to students in the Mitchell College of Business majoring in Real Estate with Real Estate as a career objective. They must have a minimum overall 2.75 GPA and have completed at least one Real Estate course. This scholarship was made possible by donations from Alton R. III and Toni G. Brown.

To apply for this scholarship, please use the University's JagSPOT Portal

▼   White-Spunner & Associates Inc. Endowed Scholarship in Real Estate

The White-Spunner & Associates Inc. Endowed Scholarship in Real Estate was established in 2007 for the purpose of providing financial assistance to a deserving full-time sophomore, junior, or senior level student majoring in Real Estate within the USA Mitchell College of Business. Applicants must have a minimum 3.0 GPA. 

To apply for this scholarship, please use the University's JagSPOT Portal