Real Estate (RE)
Department of Marketing and Consumer Studies, Gordon S. Lang School of Business and Economics
The Real Estate major in the B.Comm. program is one of only a few undergraduate programs in Canada that specialize in the real estate sector. It takes a multi-disciplinary approach to the study of residential and commercial/investment real estate. Topics such as the development, financing, valuation, market analysis and management of real estate are taught in the context of economic, legal, political and social factors affecting this large and growing field of business in Canada and the world.
The purpose of this major is to develop the conceptual, analytical and management skills required for careers in real estate. Students graduate with a degree that can lead to a variety of professional positions in the private or public sectors of the Canadian real estate industry or they can continue on to graduate work in business, planning or the social sciences.
Elective options enable students to select courses which support or complement their primary field of study. Examples:
- students can use Liberal Education and free electives to earn the Certificate in Leadership. See http://www.leadershipcertificate.com/ for information regarding this Certificate and its course requirements;
- students interested in languages and/or going on exchange can use their Liberal Education and free electives to study one or more of the various languages taught at the University.
- Students interested in obtaining their Accredited Appraiser Canadian Institute (AACI) designation should consider taking some of the additional 4 required courses through University of British Columbia distance education by letter of permission to count as electives in their degree, once they have completed REAL*4820 Real Estate Appraisal.
A principal aim of the Co-op program in Real Estate is to facilitate the transition of students from academic studies to a professional career by enhancing the integration of theory and practice.
Students may consult the RE Faculty Advisor or B.Comm. Program Counsellor for additional information.
Learning Outcomes
By the end of the Bachelor of Commerce program, graduates will be able to:
- Demonstrate the ability to think critically by identifying, evaluating and integrating relevant information from a variety of sources to solve complex business problems
- Demonstrate an ability to work effectively in teams, through the application of appropriate knowledge and skills such as responsible decision-making and personal accountability
- Identify and professionally respond to team issues and develop a new approach to enhance team performance
- Discuss and apply principles of corporate social responsibility to business issues and operations.
- Communicate effectively in a business context through written documents to a variety of audiences
- Communicate effectively in a business context through oral communication to a variety of audiences
- Demonstrate competency and understanding of core business knowledge and concepts.
- Demonstrate proficiency in the ability to integrate knowledge and understanding within specific majors through analysis and recommendation of solutions to ‘major specific’ business problems and business decision-making.
Real Estate major graduates will also be able to:
- Recognize why real estate businesses differ from other kinds of businesses.
- Understand the meaning of industry-specific jargon.
- Identify how a property can affect the value of neighbouring properties.
- Identify motives of a property owner and their effects on decisions.
- Calculate and assess the income flow of an asset.
- Communicate value to potential clients or investors.
- Identify legal and governmental processes of developing a property.
- Understand how different parts of a project (e.g. legal, financial, operational) combine or interact to produce a finished product.
Major Requirements (Honours)
This is a major within the degree: Bachelor of Commerce.
Credit Summary
(20.00 Total Credits)
| Code | Title | Credits |
|---|---|---|
| Required Core Courses | 16.50 | |
| MGMT*1100 | Business Career Preparation | 0.00 |
| Liberal Education Electives | 1.50 | |
| Free Electives | 2.00 | |
| Total Credits | 20 | |
Recommended Program Sequence
| Code | Title | Credits |
|---|---|---|
| Semester 1 | ||
| ECON*1050 | Introductory Microeconomics | 0.50 |
| REAL*1820 | Introduction to Real Estate | 0.50 |
| MGMT*1000 | Introduction to Business | 1.00 |
| 0.50 electives | 0.50 | |
| Semester 2 | ||
| ACCT*1220 | Introductory Financial Accounting | 0.50 |
| ECON*1100 | Introductory Macroeconomics | 0.50 |
| MCS*1000 | Introductory Marketing | 0.50 |
| MATH*1030 | Business Mathematics | 0.50 |
| 0.50 electives | 0.50 | |
| Semester 3 | ||
| ACCT*2230 | Management Accounting | 0.50 |
| ECON*2310 | Intermediate Microeconomics | 0.50 |
| MGMT*1100 | Business Career Preparation | 0.00 |
| REAL*2850 | Service Learning in Housing | 0.50 |
| ECON*2740 | Economic Statistics | 0.50 |
| or STAT*2060 | Statistics for Business Decisions | |
| 0.50 electives | 0.50 | |
| Semester 4 | ||
| FIN*2000 | Introduction to Finance | 0.50 |
| HROB*2090 | Individuals and Groups in Organizations | 0.50 |
| MCS*2000 | Business Communication | 0.50 |
| MCS*2020 | Information Management | 0.50 |
| REAL*2820 | Real Estate Finance | 0.50 |
| Semester 5 | ||
| ECON*2410 | Intermediate Macroeconomics | 0.50 |
| FARE*3310 | Operations Management | 0.50 |
| MGMT*2190 | Justice, Equity, Diversity and Inclusion in the Workplace | 0.50 |
| REAL*4820 | Real Estate Appraisal | 0.50 |
| REAL*4840 | Housing and Real Estate Law | 0.50 |
| Semester 6 | ||
| FIN*3500 | Money, Credit and the Financial System | 0.50 |
| LARC*2820 | Urban and Regional Planning | 0.50 |
| MGMT*3020 | Principles of Responsible Organizations | 0.50 |
| REAL*3890 | Property Management | 0.50 |
| 0.50 electives | 0.50 | |
| Semester 7 | ||
| ECON*3500 | Urban Economics | 0.50 |
| MGMT*4000 | Strategic Management | 0.50 |
| REAL*3810 | Real Estate Market Analysis | 0.50 |
| REAL*4870 | Sustainable Real Estate | 0.50 |
| 0.50 electives | 0.50 | |
| Semester 8 | ||
| POLS*3270 | Local Government in Ontario | 0.50 |
| REAL*4830 | Real Estate Development Project | 1.00 |
| 1.00 electives | 1.00 | |
Co-op Requirements (Honours)
This is a major within the degree: Bachelor of Commerce.
The Co-op program in Real Estate is a five year program, including five work terms. Students must follow the academic work schedule as outlined below (also found on the Co-operative Education website: https://www.recruitguelph.ca/cecs/).
Real Estate Academic and Co-op Work Term Schedule
| Year | Fall | Winter | Summer |
|---|---|---|---|
| 1 | Academic Semester 1 | Academic Semester 2 | Off |
| 2 | Academic Semester 3 COOP*1100 | Academic Semester 4 | COOP*1000 Work Term I |
| 3 | COOP*2000 Work Term II | Academic Semester 5 | COOP*3000 Work Term III |
| 4 | Academic Semester 6 | COOP*4000 Work Term IV | COOP*5000 Work Term V |
| 5 | Academic Semester 7 | Academic Semester 8 | N/A |
Please refer to the Co-operative Education program policy with respect to work term performance grading, work term report grading and program completion requirements.
For additional program information students should consult with their Co-op Co-ordinator and Co-op Faculty Advisor, listed on the Co-operative Education web site.
Credit Summary
(22.50 Total Credits)
| Code | Title | Credits |
|---|---|---|
| Required Core Courses | 16.50 | |
| Liberal Education Electives | 1.50 | |
| Free Electives | 2.00 | |
| Co-op Work Terms | 2.50 | |
| Total Credits | 22.5 | |
Recommended Program Sequence
| Code | Title | Credits |
|---|---|---|
| Semester 1 - Fall | ||
| ECON*1050 | Introductory Microeconomics | 0.50 |
| REAL*1820 | Introduction to Real Estate | 0.50 |
| MGMT*1000 | Introduction to Business | 1.00 |
| 0.50 electives | 0.50 | |
| Semester 2 - Winter | ||
| ACCT*1220 | Introductory Financial Accounting | 0.50 |
| ECON*1100 | Introductory Macroeconomics | 0.50 |
| MCS*1000 | Introductory Marketing | 0.50 |
| MATH*1030 | Business Mathematics | 0.50 |
| 0.50 electives | 0.50 | |
| Summer Semester | ||
| No academic semester or work term | ||
| Semester 3 - Fall | ||
| ACCT*2230 | Management Accounting | 0.50 |
| COOP*1100 | Introduction to Co-operative Education | 0.00 |
| ECON*2310 | Intermediate Microeconomics | 0.50 |
| REAL*2850 | Service Learning in Housing | 0.50 |
| ECON*2740 | Economic Statistics | 0.50 |
| or STAT*2060 | Statistics for Business Decisions | |
| 0.50 electives | 0.50 | |
| Semester 4 - Winter | ||
| ECON*2410 | Intermediate Macroeconomics | 0.50 |
| FIN*2000 | Introduction to Finance | 0.50 |
| HROB*2090 | Individuals and Groups in Organizations | 0.50 |
| MCS*2000 | Business Communication | 0.50 |
| REAL*2820 | Real Estate Finance | 0.50 |
| Summer Semester | ||
| COOP*1000 | Co-op Work Term I | 0.50 |
| Fall Semester | ||
| COOP*2000 | Co-op Work Term II | 0.50 |
| Semester 5 - Winter | ||
| FARE*3310 | Operations Management | 0.50 |
| FIN*3500 | Money, Credit and the Financial System | 0.50 |
| MCS*2020 | Information Management | 0.50 |
| REAL*3890 | Property Management | 0.50 |
| 0.50 electives | 0.50 | |
| Summer Semester | ||
| COOP*3000 | Co-op Work Term III | 0.50 |
| Semester 6 - Fall | ||
| MGMT*2190 | Justice, Equity, Diversity and Inclusion in the Workplace | 0.50 |
| MGMT*3020 | Principles of Responsible Organizations | 0.50 |
| REAL*4820 | Real Estate Appraisal | 0.50 |
| REAL*4840 | Housing and Real Estate Law | 0.50 |
| 0.50 electives | 0.50 | |
| Winter Semester | ||
| COOP*4000 | Co-op Work Term IV | 0.50 |
| Summer Semester | ||
| COOP*5000 | Co-op Work Term V | 0.50 |
| Semester 7 - Fall | ||
| ECON*3500 | Urban Economics | 0.50 |
| MGMT*4000 | Strategic Management | 0.50 |
| REAL*3810 | Real Estate Market Analysis | 0.50 |
| REAL*4870 | Sustainable Real Estate | 0.50 |
| 0.50 electives | 0.50 | |
| Semester 8 - Winter | ||
| LARC*2820 | Urban and Regional Planning | 0.50 |
| POLS*3270 | Local Government in Ontario | 0.50 |
| REAL*4830 | Real Estate Development Project | 1.00 |
| 0.50 electives | 0.50 | |