Real Estate, B.S.

Program Code: REST_BS

Program Description

The Smeal College of Business Bachelor of Science degree in Real Estate (REST_BS) is targeted at individuals wishing to have a career in the real estate industry or related field. The major will provide students a solid foundation in the concepts associated with real estate finance, investment, and development analysis as well as quantitative research methods that are needed to solve complex problems in the real estate industry. The program will provide students with the required analytical tools necessary to analyze the real estate markets and solve problems or issues they may encounter in this growing industry. Students in the Real Estate major will also receive professional credit toward the required educational hours for the real estate appraisal designation offered through the Appraisal Qualifications Board (AQB) of the Appraisal Foundation. This organization is authorized by Congress as the Source of Appraisal Standards and Appraiser Qualifications.

Entrance to Major

To be eligible for entrance into the Real Estate (REST) major, a degree candidate must be enrolled in the Smeal College of Business or the Division of Undergraduate Studies and satisfy requirements for entrance to the major.

Administrative Enrollment Controls

This program currently has administrative enrollment controls. Administrative Enrollment Controls are initiated when limitations of space, faculty, or other resources in a major prevent accommodating all students who request them. Students must follow the administrative enrollment controls that are in effect for the semester that they enter the university.

First-Year Students Entering Summer 2022, Fall 2022, Spring 2023

In order to be eligible for entrance to this major, students must satisfy the following requirements:

Students Who Entered Prior to Summer 2022

Students who entered the University from Summer 2018 through Spring 2022 should view the administrative enrollment controls in the appropriate Undergraduate Bulletin archive. Students who entered the University prior to the summer 2018 semester should consult with their academic adviser about the administrative enrollment controls in effect for the semester they entered the university.

Degree Completion

Degree Requirements

For the Bachelor of Science degree in Real Estate, a minimum of 120 credits is required:

Requirement Credits
General Education 45
Electives 14
Requirements for the Major 76

15 of the 45 credits for General Education are included in the Requirements for the Major. This includes: 6 credits of GQ courses; 6 credits of GWS courses; 3 credits of GS courses.


To graduate, a student enrolled in the major must earn a grade of C or better in each course designated by the major as a C-required course, as specified by Senate Policy 82-44.

Prescribed Courses
BA 342Socially Responsible, Sustainable and Ethical Business Practice3
BA 411Analyzing Business and Industry3
BLAW 341Business Law I: Introduction to Contracts, Liability Issues, and Intellectual Property3
ECON 102Introductory Microeconomic Analysis and Policy Keystone/General Education Course3
ECON 104Introductory Macroeconomic Analysis and Policy Keystone/General Education Course3
MIS 250Introduction to Problem Solving with Spreadsheet Analysis and Information Systems Management3
SCM 301Supply Chain Management3
Prescribed Courses: Require a grade of C or better
ACCTG 211Financial and Managerial Accounting for Decision Making4
ENGL 202DEffective Writing: Business Writing Keystone/General Education Course3
FIN 301Corporation Finance3
MGMT 301Basic Management Concepts3
MKTG 301Principles of Marketing3
RM 330WReal Estate Risk Analysis3
RM 450Contemporary Issues in Real Estate Markets3
RM/FIN 460Real Estate Financial Analysis3
RM/FIN 470Real Estate and Capital Markets3
RM 475Quantitative Analysis for Business3
Additional Courses
Additional Courses: Require a grade of C or better
FIN 406Security Analysis and Portfolio Management3
or RM/BLAW 424 Real Estate Law
MATH 110Techniques of Calculus I Keystone/General Education Course4
or MATH 140 Calculus With Analytic Geometry I Keystone/General Education Course
SCM 200Introduction to Statistics for Business Keystone/General Education Course4
or STAT 200 Elementary Statistics Keystone/General Education Course
Select 3 credits from the following:3
Rhetoric and Composition Keystone/General Education Course
Honors Rhetoric and Composition Keystone/General Education Course
ESL Composition for American Academic Communication II Keystone/General Education Course
Rhetoric and Civic Life I Keystone/General Education Course
Supporting Courses and Related Areas
Select 4 credits: Attainment of 12th credit level proficiency in a single foreign language. Proficiency must be demonstrated by either examination or coursework.4
Select 6 credits of supporting coursework from an approved department list.6

General Education

Connecting career and curiosity, the General Education curriculum provides the opportunity for students to acquire transferable skills necessary to be successful in the future and to thrive while living in interconnected contexts. General Education aids students in developing intellectual curiosity, a strengthened ability to think, and a deeper sense of aesthetic appreciation. These are requirements for all baccalaureate students and are often partially incorporated into the requirements of a program. For additional information, see the General Education Requirements section of the Bulletin and consult your academic adviser.

The keystone symbol Keystone/General Education Course appears next to the title of any course that is designated as a General Education course. Program requirements may also satisfy General Education requirements and vary for each program.

Foundations (grade of C or better is required.)

  • Quantification (GQ): 6 credits
  • Writing and Speaking (GWS): 9 credits

Knowledge Domains

  • Arts (GA): 6 credits
  • Health and Wellness (GHW): 3 credits
  • Humanities (GH): 6 credits
  • Social and Behavioral Sciences (GS): 6 credits
  • Natural Sciences (GN): 9 credits

Integrative Studies (may also complete a Knowledge Domain requirement)

  • Inter-Domain or Approved Linked Courses: 6 credits

University Degree Requirements

First Year Engagement

All students enrolled in a college or the Division of Undergraduate Studies at University Park, and the World Campus are required to take 1 to 3 credits of the First-Year Seminar, as specified by their college First-Year Engagement Plan.

Other Penn State colleges and campuses may require the First-Year Seminar; colleges and campuses that do not require a First-Year Seminar provide students with a first-year engagement experience.

First-year baccalaureate students entering Penn State should consult their academic adviser for these requirements.

Cultures Requirement    

6 credits are required and may satisfy other requirements

  • United States Cultures: 3 credits
  • International Cultures: 3 credits

Writing Across the Curriculum

3 credits required from the college of graduation and likely prescribed as part of major requirements.

Total Minimum Credits

A minimum of 120 degree credits must be earned for a baccalaureate degree. The requirements for some programs may exceed 120 credits. Students should consult with their college or department adviser for information on specific credit requirements.

Quality of Work

Candidates must complete the degree requirements for their major and earn at least a 2.00 grade-point average for all courses completed within their degree program.

Limitations on Source and Time for Credit Acquisition

The college dean or campus chancellor and program faculty may require up to 24 credits of course work in the major to be taken at the location or in the college or program where the degree is earned. Credit used toward degree programs may need to be earned from a particular source or within time constraints (see Senate Policy 83-80). For more information, check the Suggested Academic Plan for your intended program.

Academic Advising

The objectives of the university’s academic advising program are to help advisees identify and achieve their academic goals, to promote their intellectual discovery, and to encourage students to take advantage of both in-and out-of class educational opportunities in order that they become self-directed learners and decision makers.

Both advisers and advisees share responsibility for making the advising relationship succeed. By encouraging their advisees to become engaged in their education, to meet their educational goals, and to develop the habit of learning, advisers assume a significant educational role. The advisee's unit of enrollment will provide each advisee with a primary academic adviser, the information needed to plan the chosen program of study, and referrals to other specialized resources.


University Park

Advising Center
Smeal College Undergraduate Education
202 Business Building
University Park, PA 16802


University Park

355 Business Building

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