​​​​​​​​​​​​​Program Description

In this people-oriented program, you’ll focus on the development, investment and management of real estate as a business. With nearly half of all business investments in the United States involving real estate development and finance, it’s significant that you’ll understand risk and reward, how to make investment decisions, and the ins and outs of development. You may want to pair the real estate development major with another business concentration such as entrepreneurship, finance or sales. The real estate minor complements construction, geography and other physical space-related fields.​​

Points of Pride

CMU’s real estate development program hosts an annual conference where you can interact with senior-level corporate and governmental leaders.

Put Your Degree to Work

Many graduates begin their commercial real estate careers as bankers, brokers, investment professionals and property managers. Other career paths include appraisal, real estate law and title insurance.

​U.S. Bureau of Labor Statistics sample data

JobMedian PayJob Growth through ​2022​
Property and real estate manager$52,610 per year12% (35,000 more jobs)
Real estate broker$41,990 per year11% (46,600 more jobs)
Real estate appraiser$49,540 per year6% (4,700 more jobs)

For More Information

Visit the College of Business Administration website​ or contact:

Business Student Services Center
Grawn Hall 105
Email: cba@cmich.edu
Phone: 989-774-3124

Program Overview

The course listings below are a representation of what this academic program requires. For a full review of this program in detail please see our official online academic bulletin AND consult with an academic advisor. This listing does not include the General Education courses required for all majors and may not include some program specific information, such as admissions, retention, and termination standards.

(Click on the course name or number for a complete course description.)

Real Estate: Development & Finance Major

The Real Estate Development & Finance major teaches students to make effective decisions about real estate investment including analysis of debt financing and valuation metrics. Invest, operate or develop office buildings, industrial parks, apartments, subdivisions and other real estate assets while considering architecture, construction, entrepreneurship, law and urban planning. This people-oriented program focuses on the development, investment, and management of real estate as a business. Learn how the built world operates, how professionals make investment/development decisions and understand risk/reward. The mission of the Real Estate Development & Finance major is to prepare students for employment and leadership across the spectrum of real estate development, finance and business in global society. The Real Estate Development and Finance program goals are (1) Provide tools to analyze risk-adjusted investment value of real estate assets, (2) Impart understanding of social, economic, legal and interpersonal aspects of real estate development, (3) Promote comprehension of domestic and global financial markets as they relate to real estate.
Total: 36 semester hours
Additional Common Body of Knowledge in Business Administration Courses
(9 hours)
BUS 100
Essential Business Skills
3
BUS 300QR
Applied Business Statistics
3
MGT 499
Integrated Capstone-Strategic Management
3
Required Courses
(21 hours)
BLR 330
Real Estate Law
3
ECO 375
Economics of Cities and Regions
3
FIN 335
Real Estate Principles
3
FIN 336
Real Estate Finance & Investments
3
FIN 337
Real Estate Valuation/Appraisal
3
FIN 438
Real Estate Development
3
FIN 490
Internship in Finance
1-3
Electives
(6 hours)
Select the courses below for 6 hours, or select one course below plus another 300 or 400 level course in Finance & Law or Accounting for 6 hours.
FIN 315
Principles of Investments
3
FIN 472
Money and Capital Markets
3