Runstad Department of Real Estate

Real Estate Undergraduate Minor

The new minor in real estate is open to undergraduate students across the University of Washington. It is designed to provide students with an opportunity to obtain comprehensive exposure to the field of real estate.

Real estate is core to both our society and economic wellbeing. From deciding what will be developed and how it will be funded to leasing and managing it, real estate professionals serve a central role in the development of the built environment.

Curriculum

The curriculum covers both the residential and commercial real estate sectors. It has been structured so that it is of value not only to students majoring in disciplines within the College of Built Environments, but also in other fields across the university.

To complete the minor, the following classes must be completed:

  • RE 350 – Introduction to Real Estate
  • RE 360 – Real Estate Market Analysis
  • RE 361 – Property Transaction Law and Brokerage
  • RE 362 – Real Estate Valuation and Appraisal
  • RE 363 – Real Estate Development Process
  • RE 364 – Real Estate Asset and Portfolio Management
  • RE 365 – Real Estate Finance
  • RE 370 – Real Estate Data Modeling
  • RE 400 – Real Estate Accounting
  • RE 401 – Housing Market and Policy

Students in the Foster School of Business can opt to make the following substitutions:

  • FIN425 Introduction to Real Estate Finance and Investment for RE365 Real Estate Finance
  • FIN490 Real Estate Development for RE363 Real Estate Development Process
  • RE400 Real Estate Accounting can be substituted by any of the following:
    • Accounting 215 – Introduction to Accounting and Financial Reporting
    • Accounting 219 – Essentials of Accounting
    • Accounting 225 – Fundamentals of Managerial Accounting

Learning Outcomes

Students in the minor will develop technical, statistical, and analytical skills that will enable them to interpret data across a wide range of topics. This analysis will aid in addressing many of the challenges facing the world today. The interdisciplinary nature of real estate will be highlighted throughout the course of the minor and in the variety of learning environments that students will encounter.

Below are the key learning outcomes:

  • Be able to communicate technical and complex material in an effective manner in a professional real estate environment
  • Practice according to the professional, ethical, and legal standards expected in the real estate industry
  • Understand the participants and processes involved in the real estate market
  • Appreciate the interdisciplinary nature of real estate and how it fits into a broader economic and social framework
  • Understand the key differences across the various property types, and also how the various property types and functions vary
  • Understand the steps involved during a real estate transaction
  • Apply a range of analytical and quantitative techniques in an applied real estate context, including real estate appraisal and mortgage calculations
  • The ability to adopt innovative problem solving and transfer appropriate knowledge and methods across different topics
  • Understand how the structure of urban areas impacts the demand, and potential supply, of real estate, and how these feed into broader issues such as public policy and regional economic development and planning

Career Opportunities

The real estate minor will help provide students with an understanding of how their major can be integrated into a variety of career paths available within the real estate profession. It will prepare students for careers in real estate brokerage, finance, asset management, development, and public policy.

The minor is not only suitable for students intending to pursue a dedicated career in real estate, but will also be highly valuable in cases where real estate compliments their major field. For example:

  • Architecture
  • Community, Environment, and Planning
  • Construction Management
  • Geography
  • Sociology
  • Public Policy
  • Business

The interdisciplinary nature of real estate is becoming more appreciated in fields such as global health, public policy, environmental change, sustainability, social justice, economic development, equality, and migration.

Real Estate Club

The Real Estate Club at the University of Washington provides opportunities for networking, career development, and property tours for students who have an interest in real estate. Our membership is comprised of students from across campus including, but not limited to, the College of Built Environments, Foster School of Business, Evans School of Public Affairs, and the School of Law. The club is open to all members of the UW community. For further information visit the website at www.UWREClub.com.