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The major in real estate prepares students for the graduate-level study of real estate, economics and finance, as well as careers in land development, brokerage, valuation and investment counseling, site analysis and selection, real property management, mortgage lending, and bank trust and corporate real estate departments, in addition to other real estate-related careers in the public and private sectors.
Learning goals
- To support career advancement over time by giving students the academic foundation in information systems needed for continued professional development
- To help students develop the professional skills that will be needed by the businesses and organizations that hire graduates
- To help students develop ethical awareness so that they are able to deal with an ethical dilemma in the workplace.
- To ensure that students understand and can apply appropriate analytical methodologies and technology to the discipline of real estate.
Student learning outcomes
Upon completing this program:
- Graduates will understand the legal foundations of real estate including contracts, options, title transfer, easements, conveyances, liens and recording statutes. Students will also understand ethical decision-making in the context of identifying ethical standards and establishing a framework for making ethical decisions.
- Graduates will be able to apply mathematical techniques to real estate financial analysis, including the financing process, mortgage risk analysis and loan underwriting.
- Graduates will be able to apply the highest and best use analysis (cost, market and income approaches) in valuing real estate property and will be able to understand/calculate the mathematics of yield capitalization.
- Graduates will be able to apply appropriate skills in evaluating real estate investments. This is includes a multidisciplinary approach to financial, spatial and social economics.
Special requirements
The admission requirements for the School of Business detail the deadlines and other requirements for students to be admitted to one of these major programs of study. The following courses must be completed before the student may declare a specific business major: ACCT 203, ACCT 204, BUSN 201 or BUSN 205, BUSN 212 or MATH 200, BUSN 225, ECON 210, ECON 211, UNIV 111, UNIV 112 and UNIV 200.
The School of Business has special academic policies, including policies on transfer credits, that apply to all undergraduate degrees.
All baccalaureate degree programs in the School of Business require successful completion of the business knowledge exam as administered in BUSN 499.
Students may need to take additional mathematics courses as prerequisites to BUSN 212 or MATH 200. These credits will count as open electives in the degree program.
No more than six credits from the BUSN 16X Digital Literacy courses may be applied to the degree.
INTL 493 may not be counted toward a business degree.
Credit for SPCH 121 or SPCH 321 will substitute for BUSN 225, and no more than three credits of these courses may be applied toward a business degree. Students who earned a minimum grade of B in either ECON 203 or ECON 205 at VCU may substitute that credit for ECON 210.
The pass/fail grading policy may not be used for many course requirements. Students should check with their academic adviser before taking the pass/fail grading option.
Degree requirements for Real Estate, Bachelor of Science (B.S.)
| Course | Title | Hours |
|---|---|---|
| General education | ||
| Select 30 credits of general education courses in consultation with an adviser. | 30 | |
| Major requirements | ||
| • Major core requirements | ||
| FIRE 305 | Principles of Real Estate | 3 |
| FIRE 312 | Financial Modeling | 3 |
| FIRE 325 | Real Estate Law | 3 |
| FIRE 425 | Real Estate Appraisal | 3 |
| FIRE 435 | Real Estate Finance and Capital Markets | 3 |
| FIRE 445 | Real Estate Investment Analysis | 3 |
| • Major electives | ||
| Real estate electives (select from list below) | 15 | |
| Ancillary requirements | ||
| • Ancillary core requirements | ||
| ACCT 203 & ACCT 204 | Introduction to Accounting I and Introduction to Accounting II | 6 |
| BUSN 225 | Winning Presentations | 3 |
| BUSN 301 | Career and Professional Development | 1 |
| BUSN 499 | Business Knowledge Exam | 0 |
| ECON 210 | Principles of Microeconomics (satisfies general education BOK for social/behavioral sciences and/or AOI for global perspectives) | 3 |
| ECON 211 | Principles of Macroeconomics | 3 |
| FIRE 311 | Financial Management | 3 |
| INFO 360 | Business Information Systems | 3 |
| MGMT 303 | Creativity and Ideation | 3 |
| MGMT 310 | Managing People in Organizations | 3 |
| MGMT 434 | Strategic Management | 3 |
| MKTG 301 | Marketing Principles | 3 |
| SCMA 301 | Business Statistics I | 3 |
| SCMA 320 | Production/Operations Management | 3 |
| • Additional ancillary requirements | ||
| BUSN 201 | Foundations of Business 1 | 3 |
| or BUSN 205 | Introduction to the World of Business | |
| BUSN 212 | Business Problem Solving and Analysis (either satisfies general education quantitative foundations) | 4 |
| or MATH 200 | Calculus with Analytic Geometry I | |
| Open electives | ||
| Select any course. 2 | 16 | |
| Total Hours | 120 | |
BUSN 205 satisfies general education AOI for global perspectives.
Students may choose electives to reach the minimum total of 120 credits.
The minimum number of credit hours required for this degree is 120.
Real estate electives
| Course | Title | Hours |
|---|---|---|
| BUSN 400 | Principles of Consulting | 3 |
| BUSN 401 | International Consulting Practicum | 3 |
| ECON 305 | Public Finance | 3 |
| ECON 307 | Money and Banking | 3 |
| FIRE 309 | Risk Management and Insurance | 3 |
| FIRE 315 | Real Property Management | 3 |
| FIRE 317 | Investments | 3 |
| FIRE 321 | Intermediate Financial Management | 3 |
| FIRE 429 | Property and Liability Insurance | 3 |
| FIRE 441 | Funds Management in Financial Institutions | 3 |
| FIRE 451 | Options, Futures and Swaps | 3 |
| FIRE 492 | Independent Study in Finance, Insurance and Real Estate | 1-3 |
| FIRE 493 | Internship in Finance, Insurance and Real Estate | 3 |
| MGMT 491 | Topics in Management | 1-3 |
| MKTG 315 | Buyer Behavior | 3 |
| MKTG 325 | Business-to-business Marketing | 3 |
| MKTG 335 | Professional Selling I: The Art of Persuasion | 3 |
| MKTG 340 | Retail Management | 3 |
| MKTG 430 | Experiential Marketing | 3 |
| MKTG 435 | Professional Selling II: Advanced Sales Techniques | 3 |
| MKTG 442 | Services Marketing | 3 |
| MKTG 445 | Nonprofit Marketing | 3 |
| MKTG 448 | Digital Marketing | 3 |
| URSP 304 | Urban Social Systems | 3 |
| URSP 306 | Economic Geography | 3 |
| URSP 310 | Introduction to Urban and Regional Planning | 3 |
What follows is a sample plan that meets the prescribed requirements within a four-year course of study at VCU. Please contact your adviser before beginning course work toward a degree.
Recommended course sequence/plan of study
| Freshman year | ||
|---|---|---|
| Fall semester | Hours | |
UNIV 111  Play course video for Introduction to Focused Inquiry: Investigation and Communication | Introduction to Focused Inquiry: Investigation and Communication (satisfies general education UNIV foundations) | 3 |
| General education course | 3 | |
| General education course | 3 | |
| General education course | 3 | |
| Open elective (prerequisite to BUSN 212 suggested) | 3 | |
| Term Hours: | 15 | |
| Spring semester | ||
| BUSN 212 | Business Problem Solving and Analysis (satisfies general education quantitative foundations) | 4 |
| BUSN 225 | Winning Presentations | 3 |
| UNIV 112 Play course video for Focused Inquiry II | Focused Inquiry II (satisfies general education UNIV foundations) | 3 |
| General education course | 3 | |
| Open elective | 3 | |
| Term Hours: | 16 | |
| Sophomore year | ||
| Fall semester | ||
| ACCT 203 | Introduction to Accounting I | 3 |
| BUSN 201 or BUSN 205 | Foundations of Business or Introduction to the World of Business | 3 |
| ECON 210 | Principles of Microeconomics (satisfies general education BOK for social/behavioral sciences and/or AOI for global perspectives) | 3 |
| UNIV 200 | Advanced Focused Inquiry: Literacies, Research and Communication (satisfies general education UNIV foundations) | 3 |
| General education course | 3 | |
| Term Hours: | 15 | |
| Spring semester | ||
| ACCT 204 | Introduction to Accounting II | 3 |
| BUSN 301 | Career and Professional Development | 1 |
| ECON 211 | Principles of Macroeconomics | 3 |
| FIRE 305 | Principles of Real Estate | 3 |
| MKTG 301 | Marketing Principles | 3 |
| SCMA 301 | Business Statistics I | 3 |
| Term Hours: | 16 | |
| Junior year | ||
| Fall semester | ||
| FIRE 311 | Financial Management | 3 |
| MGMT 303 | Creativity and Ideation | 3 |
| MGMT 310 | Managing People in Organizations | 3 |
| Open electives | 4 | |
| Term Hours: | 13 | |
| Spring semester | ||
| FIRE 312 | Financial Modeling | 3 |
| FIRE 325 | Real Estate Law | 3 |
| INFO 360 | Business Information Systems | 3 |
| SCMA 320 | Production/Operations Management | 3 |
| Real estate elective | 3 | |
| Term Hours: | 15 | |
| Senior year | ||
| Fall semester | ||
| BUSN 499 | Business Knowledge Exam | 0 |
| FIRE 425 | Real Estate Appraisal | 3 |
| FIRE 435 | Real Estate Finance and Capital Markets | 3 |
| Open elective | 3 | |
| Real estate electives | 6 | |
| Term Hours: | 15 | |
| Spring semester | ||
| FIRE 445 | Real Estate Investment Analysis | 3 |
| MGMT 434 | Strategic Management | 3 |
| Open elective | 3 | |
| Real estate electives | 6 | |
| Term Hours: | 15 | |
| Total Hours: | 120 | |
The minimum number of credit hours required for this degree is 120.