Carl H. Lindner College of BusinessCarl H. Lindner College of BusinessUniversity of Cincinnati

Carl H. Lindner College of Business

Real Estate Academics - Undergraduate FAQ

What do you do with a degree in Real Estate?

What do they need to know?

What if they want to change careers?

Can I double major?

Is financial support available?

What is the co-op program?

What activities are available outside of the classroom?

Can I get a job when I'm done with school?

UC is such a big school. Won't I get lost in the crowd?

How does the University of Cincinnati stack up to other Real Estate programs?

 

What do you do with a degree in Real Estate?

 

The generic answer is: investigate, research, analyze, negotiate, plan, market and work in an interesting and challenging industry. Successful Real Estate professionals often work over 40 hours per week. Real Estate is a competitive industry, and therefore, Real Estate is not for everyone.

Our alumni work in various fields. They do site analysis for companies like Kroger and NCR, or appraisal for firms such as Arthur Andersen. Some lease shopping center space or office space for firms like West Shell, JMB Realty or Faison Associates, others make construction loans or mortgage loans for PNC Bank or Bank One. Our alumni also work for small rehabilitation development companies, some are entrepreneurs and start their own firms while still in school, others work for property management firms like Koll, or go on to graduate school. Whatever you choose can prove to be lucrative and rewarding. Graduates work in the following areas: appraisal, brokerage, leasing, property management, site analysis, mortgage lending, development or consulting.

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What do they need to know?

 

Real Estate involves virtually every field of business. The tenant who wants to find a certain type of space is better served when a developer or broker knows their needs. These needs require some knowledge about every aspect of business, for example: demographic trends, market analysis, financing, law and more. Real Estate professionals must be equipped to deal with a variety of challenges like how location affects distribution costs and what to do if environmental hazards are discovered. They must be able to answer complex questions such as will the lease be long enough to make the financing work?, and what criteria will a lender use to determine if they should make a loan?

Real Estate people can never know too much. They must constantly strive to stay abreast of business trends, and think about how issues concerning tax law changes, new highway routes or zoning proposals affect their clients, investments or business. Above all else, Real Estate people must be entrepreneurial, which means they look for opportunities and better ways to do business. Good Real Estate people can succeed in any field of business, and many do own other businesses outside of the Real Estate realm.

Beyond general business knowledge. Employers also expect our students to be computer literate with spreadsheets, word processing, graphical analysis and geographic information systems. In addition, students should be able to write well and to give effective oral presentations. Negotiation skills are also an important aspect of the Real Estate industry, and students practice these while in school.

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What if they want to change careers?

 

No problem. Most of the curriculum necessary to succeed in Real Estate is not unique to the Real Estate industry. We make sure that our students can speak the lingo of the Real Estate industry, and understand common and hot topics, but the skills are generally applicable to any business field.

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Can I double major?

 

Yes, in fact, Real Estate majors must double major in another field known as a function concentration such as marketing, finance, management or information systems. Please see our undergraduate program description.

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Is financial support available?

For outstanding academic students, financial support is available through a myriad of scholarships including the Segal, Willingham and Selonick Scholarship programs which are awarded solely for the support of UC Real Estate Majors. (See the scholarship program information.) Many students join the work study program and work at a job on campus. Student loans are available, but the best source of financial support is probably the cooperative education (co-op) program.

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What is the co-op program?

 

UC was one of the first institutions in the U.S. to start a co-op program which enables students to alternate quarters of work and full-time study during their Junior and Senior years. The result is that the four-year degree requires five years, but students end up with up to two years of job experience. While some people might think that an extra year of school is a hardship, it may mean getting several good career opportunities upon graduation versus being just another 'entry-level' resume. Especially when the economy is in a recession, this extra experience can be a critical factor in getting good job offers. The education added while involved in co-op work is also a big plus to a student's confidence when interviewing with potential employers.

UC has a separate co-op administration division. John Hattendorf john.hattendorf@uc.edu at 513-556-4632 is the co-op director for Real Estate. Please write or call him for more information or to receive a brochure. The Real Estate co-op jobs are with local and regional firms, like Federated Department Stores Real Estate Division, West Shell Commercial, Duke Associates, The Everest Real Estate Group, Cline Commercial, Corporex Development, Atkins Consulting and many other fine firms. Students often work in the research division of such firms. All of the co-op jobs are salaried or pay an hourly wage.

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What activities are available outside of the classroom?

 

Real Estate majors are encouraged to participate in a wide variety of student group activities. Among these, Alpha Rho Epsilon, the Real Estate business association, shares information on part-time and co-op jobs, sponsors industry speakers, provides career days and the 'Spend a Day with an Executive' program, conducts the annual golf outing with Real Estate professionals, and much more.

Alpha Rho Epsilon members often attend the UC Real Estate Roundtable breakfast meetings, seminars and conferences. The Real Estate Roundtable, a 150-member group, includes top-level professionals in every area of the Real Estate industry from a 100-mile radius of Cincinnati. Speakers are brought in to address this group each month, and students participate in these programs, networking with Real Estate professionals in the process. Students are also invited to participate in the annual Real Estate Program Banquet, attended by over 1000 area Real Estate professionals, with speakers like Sam Zell, Roger Staubach and Tony Downs.

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Can I get a job when I'm done with school?

 

That's up to you. First, you must do a good job in your course work, and not shirk the tough classes which provide the skills that employers value. Next, you must plan your education to include exposure to many professionals in your area of career interest. Alpha Rho Epsilon and the Roundtable programs are just two of the ways this can happen. Demonstrating some leadership along the way is also important, so making time to be involved with student organizations should be a goal. The co-op program is also a great opportunity that many students say they regret not having taken advantage of while in school.

Employers in the Real Estate industry do not recruit on a large scale or through personnel firms for entry-level jobs. That is why networking is so important while in school. Many employers, however, do call the UC Real Estate Program's office looking for employees, and this information is passed along to students and members of Alpha Rho Epsilon. Each year, more employers seem to call UC's Real Estate Program, as our alumni spread out around the nation.

We have developed a website called Real Jobs for exchanging our students' resumes with employers all over the nation, and sometimes around the world. There are hundreds of companies listed on the site looking for part time or full time employees. It is free to students and only requires creating your own username and password. We strongly encourage you to post your resume on the site! www.real-jobs.com

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UC is such a big school. Won't I get lost in the crowd?

 

Yes, we are a big school because we are a comprehensive state school. But, our numbers include medical students, law students, engineering students and many other professional programs. Each of these colleges operates to serve their own students. Our students are part of the College of Business(CoB). They see each other every day during their junior and senior years. Those that take advantage of the many professional business associations, like Alpha Rho Epsilon, have many opportunities to get to know faculty, staff and other students. UC only seems big to the student who believes that course work is the beginning and end of their college experience.

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How does the University of Cincinnati stack up to other Real Estate programs?

 

We are the largest Real Estate program in the midwest, and the only AACSB (accredited) program in the region. Our MBA program in Real Estate, launched in 1991, is quickly expanding. We have one of the few co-op programs with full-time administrators devoted to helping our students gain valuable work experience. While small, we still have more faculty teaching an array of Real Estate courses than any accredited school in Ohio, Indiana or Kentucky. Our faculty have Ph.D.'s from some of the most respected business programs in the country and are involved as research writers and editors for several national and international journals in the Real Estate area. Real Estate faculty are also involved in a variety of industry programs which often provide opportunities for student involvement.

We are confident that in the Real Estate area, we are one of the best business programs in the nation. If you are a solid student with an entrepreneurial spirit who is willing to work hard, then we encourage you to apply to UC.