Real estate development is an interdisciplinary field. Therefore, courses for the Real Estate Development certificate come from the University of Michigan's Business, Law, Urban and Regional Planning, Natural Resources and Environment, Landscape Architecture, Architecture, Urban Design, Kinesiology, and Engineering programs. Students are eligible to apply either as (1) a University of Michigan graduate student or (2) as a real estate professional on a stand-alone, certificate-only, basis. Applicants have to be a graduate of an accredited four-year college or university. We welcome applications from real estate professionals in the Detroit metropolitan area who are not currently enrolled at UM. Most of our UM graduate students are enrolled in urban planning, business, law, architecture, public policy, natural resources, kinesiology, and construction engineering.
Certificate students must complete a total of 17 credits hours.
The application for the real estate certificate is a separate process from the application for a master's degree. In evaluating the applications, we will consider an applicant's overall qualifications as well as his or her understanding of the real estate sector and performance in key real estate courses (if the applicant has taken such courses).
Students are encouraged but not required to have completed a course in microeconomics before beginning the certificate. Students will complete the following requirements (see the Graduate Certificate in Real Estate Development Requirement Checklist (PDF) for specific course offerings):
- An introductory real estate development overview course
The aim of these courses is to give students an overview of the process of real estate development from conception to completion before they enter courses that deal with detailed aspects of development.
- At least three credits in real estate finance and investment
These courses provide understanding of how real estate is financed and why investors are interested in real estate. Students will learn about the role of real estate finance in capital markets and about the structure of financing for real estate projects.
- At least three credits in real estate and land use law
These courses provide background in the legal structure that encourages, discourages, and controls different types of real estate development. These courses provide the background for understanding why jurisdictions regulate development and how regulation can enhance the quality of development.
- At least three credits in real estate in the urban development context
These courses encourage students to consider what constitutes desirable development that enhances the quality of life in the context of market, political, and social factors.
- At least three credits in design and implementation
These courses aim to give students background in areas of design and implementation of real estate development projects.
- An integrative seminar
This two-credit seminar addresses topics in real estate that build on the knowledge gained in previous courses and that offer advanced students the opportunity to share ideas about current real estate issues such as walkable urbanism, innovative project financing, smart growth, regionalism, mortgage foreclosures, and others. Students should have completed at least three other courses for the certificate before taking the integrative seminar.
Please review the Graduate Certificate in Real Estate Development Requirement Checklist (PDF). This should be filed with Taubman College registrar Stacey Shimones, 2326 Art and Architecture.
For more details on prerequisities for courses and times they are normally offered, please see Course Schedule and Prerequisites Details (PDF).
An integrative, applied, "capstone" real estate project course is highly recommended but not required
Certificate students enrolled in programs that require a final, integrative project for a master's degree (such as the M.S. and M.L.A. in the School of Natural Resources and the Environment and the M.U.R.P. in urban and regional planning) should seek to design their projects around real estate development.
Counting credits from a single course toward both the certificate and another degree
Students in a master's program may double count up to one-sixth of their master's credits but not more than one half of the certificate program credits, provided they are courses from the approved certificate curriculum.
- M.U.R.P. 48 x 1/6 = 8 credits can be double counted
Please review Graduate Certificate in Real Estate Development Double Counting Rules and Guidelines (PDF).
Formally structured dual degrees: M.U.R.P./M.Arch., M.U.R.P./M.B.A. and M.U.R.P./J.D.
Formal dual degree students will be able to double-count credits for the Real Estate Development Certificate program. That means that these students can add the certificate for an additional nine credits, rather than 17, double counting eight credits. Please consult with your advisors on dual enrollment. Further information.
Student-initiated dual degrees: M.U.R.P./M.S.W., M.U.R.P./M.S. SNRE, M.U.R.P./M.L.A., M.U.R.P./M.P.P., M.U.R.P./M.P.H., and M.U.R.P./M.U.D.
Students in a student-initiated dual degree program may petition Rackham Graduate School for approval to double count credits for the Real Estate Development Certificate. Double-counted credits may not be used to fulfill requirements for other degrees or certificates. Please contact Rackham to talk with an OARD specialist.