Undergraduate-Newark Concentration and Minor in Real Estate

The concentration and minor in Real Estate at Rutgers Newark offers a curriculum balanced between theory and practice, providing students with the concepts and skills that are key to establishing a successful career in real estate.

Both the concentration and minor are built upon two core courses; real estate finance and real estate law. Real Estate Finance (29:390:480) offers students an in-depth overview of applied financial economics and the background and tools necessary to analyze income-producing property from the perspective of an institutional investor. Students will use lease and market information to develop pro forma cash flow projections for a given property and evaluate the risks and returns associated with investment in real estate. This course will also provide an introduction to ARGUS, a real estate industry-standard software package used for entering and compiling lease information. The second component of the core is Real Estate Law (29:851:450), which provides an overview of the legal issues confronting a real estate executive beginning from the commencement of a real estate transaction and throughout the relationship between the various parties to such transactions.

Electives such as development, real estate capital markets and appraisal will allow students to gain specialized knowledge in one or more areas of real estate. Electives offered by the Department of Economics will provide the opportunity for students to acquire complementary skills by taking urban and regional economics.

Students enrolled in the Real Estate concentration and minor will expose students to important elements of both theory and practice. The principal method of teaching employed in the core courses is a lecture-based format supplemented with case studies. Electives will emphasize case studies and project work and will include extensive exposure to the real estate industry through guest speakers.

Students interested in summer internship opportunities should make an effort to take Real Estate Finance (29:390:480) in either the spring semester of their sophomore year or in the fall semester of their junior year.

Core learning goals

• Acquire a working knowledge of mortgage markets and financing alternatives
• Evaluate the trade-offs confronted in residential markets as homeowners, renters and borrowers
• Analyze and evaluate commercial lease agreements and determine the net income generated by a given property
• Use market and lease information to value income-producing property and assess the risks inherent in investment in property markets
• Understand how legal issues impact and shape the selection, acquisition, development, financing, ownership, and management of real property

Advantages

Real Estate is a pervasive part of life in both private and professional spheres. A concentration or minor in real estate will expand your career options and provide essential guidance for the decisions that you will face as a renter, homeowner or borrower.

In the professional sphere, real estate offers a wide variety of careers paths in a range of commercial sectors – Investment Analyst, Asset Management, Development, Commercial and Residential Brokerage, Appraisal, Commercial and Investment Banking, Property Management and Mortgage Brokerage.

Students enrolled in either the concentration or minor in Real Estate will have unparalleled access to industry leaders through the newly created Center for Real Estate Studies. The Center is supported by a 70-member advisory board consisting of the most influential and innovative real estate firms in the New York/New Jersey metropolitan area who will serve as guest speakers and hire Rutgers graduates. Members of the Advisory Board include CEOs and senior executives at Prudential Real Estate Investors, Citibank, Canoe Brook Management, Hampshire Real Estate, Jacobs Development, Paul V. Profeta and Associates, AvalonBay Communities, CBRE, Cushman & Wakefield, Prologis, TIAA and many other top-tier firms. The Center will also provide financial aid in the form of scholarships, mentoring, internships and career opportunities in the real estate profession. Students enrolled in the concentration or minor will receive precedence for scholarships and internship opportunities.

Course Descriptions

The Concentration

RBS majors

RBS students pursuing the concentration in Real Estate will take 3 courses (9 credits) – two core required courses and one elective. Students enrolled as a finance majors wanting to take the concentration in real estate may do so with the understanding that he/she may not double count his/her elective credits.

Real Estate Core Requirements (6 credits):

Electives (3 credits):

The Minor

Non-RBS majors

Non-Business school students pursuing the Real Estate minor will take 6 courses (18 credits). The suggested course sequence for this minor will be to first take the preliminary core requirements designed to provide students with the foundation needed in the core courses (9 credits), then take the core requirements (6 credits) and, finally, one elective (3 credits). Students enrolled as an economics majors wanting to minor in real estate may do so with the understanding that he/she may not double count his/her elective credits.

Preliminary core requirements:

RE core requirements:

Electives (choose one):

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