REAL 615: Brokerage and Market Analysis Master Syllabus
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Course Description
Students will learn how to analyze market data, evaluate sites in the context of the market, and work with brokerage professionals to maximize sales and/or leasing opportunities. The data component of the class will focus on using industry market analytics resources to identify and interpret trends in the real estate market life cycle. Site evaluation will focus on site characteristics, pipeline development and comparable properties, and on site selection best practices. The role of brokerage in marketing commercial property assets for lease or sale will also be discussed. Students will be asked to make holistic assessments of a site and market in order to evaluate opportunities in acquiring, selling, or developing real estate.
Learning Objectives
At the end of this course, students will be able to:
- Analyze and interpret market data and demographics
- Identify critical market-related decision criteria for different operators and property types
- Demonstrate an understanding supply and demand factors in commercial real estate
- Evaluate appropriateness of comparable choices
- Demonstrate an understanding of the site selection/site evaluation process
- Evaluate sites in the context of the surrounding market to determine (1) the best use for a site, or (2) find a site for a specific end-user
- Analyze market conditions and asses implications for acquiring, selling, or developing real estate
- Demonstrate an understanding of the role of brokerage and marketing in commercial real estate transactions
- Develop teamwork and presentation skills
Approach to Learning
This course involves an interactive, discussion-based lecture format as well as activities organized around group work to encourage collaboration and knowledge-sharing among students. Discussions and questions are highly encouraged. In group projects, each student is responsible for their individual contribution as well as collectively for the overall analysis, presentation, and written assignment.
Topics Covered:
- Demographic analysis
- Market analytics and major data providers (ex: CoStar, STR)
- The real estate market life cycle
- Supply and demand factors in commercial real estate markets
- Absorption
- Assessing market conditions for different product types
- Site selection and site evaluation fundamentals
- Tenant and public sector perspectives
- Leasing and investment sales brokerage
- Sales and leasing comparable properties
- Principles of marketing and common formats from social media to Offering Memoranda
Representative Text and Learning Materials
The following are examples of the types of books that may be used as required or supplementary material for the class:
- Real Estate Market Analysis- Methods and Case Studies, Second Edition, Deborah L. Brett and Adrienne Schmitz, (ULI-the Urban Land Institute, Washington, DC., 2007) ISBN: 978-0-87420-136-9
Student Responsibilities
Students are expected to attend all classes and are responsible for keeping themselves updated on any changes on the course website. In case of absence, it is the student’s responsibility to catch up with the material covered. Without advance notice and approval, no extensions or options to retake are provided if for any missed quizzes, exams, or assignments due to absence.
Methods of Student Evaluation
Exams, quizzes, class participation, discussion of assigned readings, and group project reports and presentations.
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