Graduate Certificate in Real Estate
Advance your career in real estate through a St. Thomas graduate certificate. Gain fundamental skills in market analysis, valuation, investment property analysis, financial modeling and the development process. If you are seeking an entrée into a real estate firm, are currently working in a corporation with significant real estate holdings, or are a current real estate professional seeking to expand your knowledge of this complex field, you will strengthen your knowledge and expertise in this leading edge program.
Part-time graduate certificate program
- Evening courses designed for working professionals
- Complete at your own pace taking one or more courses per term
Graduate Certificate in Real Estate
The Graduate Certificate in Real Estate provides:
- An industry-focused credential to help open and expand real estate career opportunities and professional networks in the Twin Cities
- Practical, relevant curriculum delivered by real estate practitioners and full-time faculty experts
- Courses that count towards Certified Commercial Investment Member (CCIM) designation
- Option to apply graduate certificate credits to a St. Thomas Flex MBA degree to enhance your general management skills and overall market value
Curriculum and Course Descriptions
15 - 16.5 credits total
Prerequisite Course (1.5 credits)
An introduction to professional practices in real estate decision-making with a focus on real estate enterprise management, real estate finance, public sector relationships, property regulation and investment decision making with particular emphasis on the activities, roles and participants involved. Topics include: real development, site selection, leasing and pricing strategies, finance options, investment analysis practices, real estate investment trusts, partnerships and asset management.
*Students who do not have an undergradate real estate major or at least three years of relevant work experience will be required to take REAL 625: Real Estate Fundamentals and Practices as their first course. REAL 600 will also meet this requirement.
Required Courses (9 credits)
Gain a comprehensive understanding of how to use technology in analyzing commercial real estate opportunities. The course begins with an overview of market analysis and how selected software applications can aid in decision making. You will learn the role that market analysis plays in development, acquisitions, investment analysis and site selection. This is followed by a comprehensive study of how software applications are used in analyzing commercial real estate opportunities and investment decisions.
You will evaluate the role of financing and leverage in real estate investment analysis and learn to identify alternative types of financing. We will also study valuation of financial structure, sources of equity financing for real estate, mortgage securitization and the operation of secondary mortgage markets. You will learn to match investment strategy to context of physical property, leverage, form of ownership, income tax and management alternatives. A special emphasis will be placed on analysis of limited partnerships, trusts, corporate real estate enterprises and securitization to fund real estate.
This is a comprehensive property development course integrating all functional areas of real estate for the production of housing, retail, commercial, corporate and industrial real estate. We will use market research, feasibility studies and market analysis in contract negotiation for project construction, as well as study marketing and management of new and redevelopment opportunities in both stable and developing markets.
Electives Courses (6 credits)
Understand the factors involved in the location decisions of households and firms and how these factors lead to the determination of the supply of, and demand for, urban land. The integration of these individual decisions and how they lead to the formation and growth of cities are explored. In addition, economic problems specific to urban areas will be studied, including housing and transportation. Expenditure and taxation decisions will be analyzed in conjunction with their role in responding to urban problems. Topics include macroeconomics of urban areas, urban housing, transportation, poverty, and local government finance.
The class also provides the skills and knowledge necessary to evaluate the productive attributes of parcels of real estate as they relate to the demand for a particular use and the supply of competitive properties within a specified market. Focus is placed on the role of market analysis and feasibility studies in real estate decision making and valuation. You will learn the process of property analysis through the study of property productivity, demand for and supply of property, comparative analysis and forecasting. Additional topics include: the urban growth process (goals and objectives); market conditions; market analysis; data collection; feasibility studies; financing; governmental and legal considerations; environmental impact studies; and case preparation.
Learn the valuation of commercial real estate using the cost, market and income approaches to value from a decision maker’s perspective. Professional ethics and standards of professional appraisal practice are extensively explored. Professional-quality narrative appraisals using comparable sales, depreciated cost and discounted cash flow are reviewed and analyzed for adequacy and sufficiency. Additional topics include cost segregation, portfolio analysis and litigation support techniques.
This course provides a comprehensive understanding of the legal issues affecting the valuation of property and your liability, as an appraisal professional, for your reports and values. You will learn about the issues, legal precedents and ethical obligations bearing on professional liability and gain an understanding of the political and social environment in which you operate. Topics include: ethics; professional liability; environmental issues; leases; bankruptcy and receivership; condemnation; construction contracts; zoning and planning; taxation; expert testimony; and the Americans with Disabilities Act.