UNDERGRADUATE
Real Estate
Shape the places where people live, work, and do business through investment and development.
Where Finance Meets the Built World
Real estate is about understanding property markets, evaluating risk, and creating long-term value from physical assets.
With a degree in Real Estate from Penn State Smeal College of Business, you'll build the financial, analytical, and strategic skills to evaluate investments, manage risk, and create long-term value from real property, all in a STEM-designated degree program built around the analytical toolkit commercial real estate employers actually require.
First, you'll build a foundation in finance, economics, law, and quantitative analysis. Then, you'll apply those disciplines to investment, development, valuation, and asset management in coursework that goes far beyond preparing for licensure.
You'll learn how to:
Evaluate investment opportunities and allocate capital
Analyze the financial and operational drivers of property value
Apply development, acquisition, and asset management strategies
Assess the market forces, risks, and returns that influence real estate decisions
What You'll Study
Featured Courses
Careers in Real Estate (RM 297): Explore career paths, learn industry lingo, and build connections for internships.
CRE Investment Academy (RM 497): Model cash flows, evaluate financing, structure partnerships & pitch to an investment committee.
ARGUS Training (RM 497): Gain hands-on experience with software used for commercial real estate valuation.
What You Can Do with a Real Estate Degree
Real Estate Development Managers
Guide projects from acquisition and financing through development and completion. Coordinate stakeholders, manage timelines, and bring new real estate projects to market. Average salary: $96,916
Real Estate Investment Analysts
Evaluate properties, markets, and financial performance to identify investment opportunities and support acquisition and development decisions. Average salary: $104,253
Appraisers & Valuation Analysts
Estimate property value by analyzing market conditions, comparable assets, financial performance, and other factors that influence real estate decisions. Median salary: $65,420
83%
Placement Rate
$70,923
Average Starting Salary
Apply Real Estate Beyond the Classroom
Borrelli Institute for Real Estate Studies (BIRES)
Connect with industry leaders through an institute that advances real estate education, research, and professional engagement. Participate in networking events, competitions, industry programs, and alumni engagement opportunities.
Penn State Realty Association (PSRA)
Build relationships with classmates, alumni, and industry professionals through a student organization focused on career development, networking, guest speakers, and commercial real estate opportunities.
Industry Competitions & Site Visits
Apply classroom concepts through real estate case competitions, property tours, and site visits that provide firsthand exposure to the real estate industry.
Who Thrives in Real Estate?
Maxwell Brown, Global Real Estate Analyst
Maxwell Brown is a Real Estate graduate who expanded his professional network through faculty mentorship, alumni engagement, and hands-on industry experiences.
"The faculty prepared me for the workforce by connecting me with alumni from across the real estate industry,” said Brown. “Those relationships helped me explore different career paths and build a professional network before graduation."
Is Real Estate Right for You?
Real Estate Is a Strong Fit If You:
Interested in investing, development, and real estate markets
Enjoy weighing opportunities, risks, and potential returns
Want to understand how markets shape property values and investment decisions
Like combining finance, economics, and strategy to solve business problems
Curious how properties are financed, developed, and managed
See yourself evaluating investments or real estate portfolios
Apply to Smeal
A Real Estate degree from Penn State Smeal prepares you to evaluate opportunities, create value, and launch a career across the real estate industry.
Connect With Us
Penn State Undergraduate Admissions
Smeal College of BusinessSmeal Undergraduate Advising
Department of Risk Management
More Information: Real Estate Degree
A special class that is designed to help students prepare for internships and careers through site visits, mock interviews, industry panels, resume preparation, technical training, and other professional development activities.
Develop experience with industry tools such as ARGUS while strengthening the analytical and financial skills used to evaluate properties, investments, and development opportunities.
Through the Penn State Realty Association, students can participate in employer visits, professional development activities, educational programming, and events designed to build industry knowledge and connect with peers who share an interest in real estate.
Learn About the Penn State Realty Association
Build relationships with alumni and industry professionals through BIRES networking events, industry programs, and professional development opportunities. Gain exposure to the organizations, career paths, and leaders that shape the real estate industry.
Real estate professionals increasingly use advanced technologies to evaluate properties, analyze markets, assess risk, and support investment decisions. As new tools improve access to information, professionals who can interpret data, evaluate opportunities, and apply sound business judgment will play an important role in identifying value and supporting real estate decisions.