About The Department

Department Overview

The B.S. degree in Real Estate at Virginia Tech is a comprehensive, interdisciplinary academic program. The degree offers Real Estate courses that integrate the knowledge students gain from other disciplines such as finance, law, and property management. The integration is supported by experiential learning that occurs through a university-industry partnership where real estate professionals are actively involved in students’ education through guest lectures, mentoring and providing internship opportunities. Through this academic program students learn about the knowledge needed to work in all aspects of the real estate life cycle.

A signature component of the academic department is a junior-level course where university professors and industry executives teach students about the development process from initial conceptualization through construction and management of a developed site. This is followed by a senior capstone course where students work as a team on a real estate development case study. The capstone course is a student-led, experiential learning class where students work in teams and faculty and industry professionals serve as consultants whose knowledge students can draw upon on while carrying out their case studies.

In additional to learning about the broad field of real estate and the entire development process, students are encouraged to find their niche in the field. Students develop an area of expertise by adding a second major, completing a minor, or creating an area of concentration with the approval of their academic advisor. Graduates of the Blackwood Department of Real Estate will be prepared to enter the real estate industry upon graduation and make immediate professional contributions.

Vision Statement

The Blackwood Department of Real Estate is a unique and comprehensive, interdisciplinary academic and industry collaboration that develops real estate industry leaders by transcending boundaries and building on university strengths in building construction, business, design, economics, engineering, entrepreneurship, environment, law, planning, and property management. The department provides the best interdisciplinary education in the country from project planning through management of properties, conducts cutting-edge research, and provides relevant outreach for the real estate industry.

Department Goals

Provide a high-quality learning environment for students to gain fundamental and specialized real estate knowledge, while they develop skills in critical thinking, communication, teaming, and leadership
Create opportunities for students and faculty to conduct research that contributes to society
Provide leadership, outreach, and service to the real estate industry throughout the state and the nation

Mission Statement

The mission of the undergraduate Blackwood Department of Real Estate is to prepare students to enter and succeed in the wide variety of professions that encompass the real estate industry, to engage in life-long learning, and to understand ways in which real estate professionals contribute to society.

The goal of the undergraduate program is that, within a year or two after program completion, graduates should be able to combine skills gained through academic preparation and post-graduation experience so they can:

Exhibit competence through application of knowledge, problem-solving skills, and modern tools from multiple areas of real estate practice in the analysis, evaluation, planning, financing and management of real estate;
Apply skills of effective communication, teamwork, leadership, and professional and ethical behavior as complements to technical competence;
Incorporate economic, environmental, and social considerations into the practice of real estate; and
Continue their professional development, which may include professional licensure, graduate level education, continuing education courses, self-directed study, and participation in conferences and industry service activities.

History

The Blackwood Department of Real Estate received approval from the State Council of Higher Education on May 22, 2013.

The real estate department started with contact from two key people, Mike Miller and William Park. Miller has an appraisal firm in Richmond, Va. He is a Virginia Tech graduate and former Board of Visitors member. He has hired many Virginia Tech students who had minored in Real Estate. Park, another Virginia Tech graduate, has a construction and property management business in Charlottesville, Va. They wondered, with all of the assets that Virginia Tech has, why couldn't it have the best real estate department in the country? It has construction, finance, planning, economics, and property management, among other strengths. Their thought was that if Virginia Tech could bring these academic areas together to integrate the curriculum, real estate graduates could be the best trained in the country.

Learning Outcomes

Graduates of the department will be prepared to:

Understand the interrelationships between entitlement, financing, design, construction, and management of real estate assets.
Participate as an effective member of an interdisciplinary team to support real estate projects.
Apply effective communication skills, and practice professional and ethical behavior, as real estate professionals.
Assess real estate project risks in the context of acquisition, entitlement, financing, construction, property and asset management and disposition.
Incorporate interrelationships between economic, environmental, and social considerations into the practice of real estate.
Be knowledgeable of the importance of active participation in career development opportunities and resources, which may include profesional licenses and certifications, graduate education, continuing education courses, and self-directed study.

Career Opportunities

Did you know there are many career opportunities in real estate in addition to being a real estate agent or broker? Visit our Employment and Internships page to learn more about the various career paths in Real Estate.