Descriptions of all courses offered by the Real Estate Division are found in this section, listed by course numbers. For a detailed course outline, click on the course number below.

Some notations:

  • BUSI denotes a course in the Diploma in Urban Land Economics Program or Bachelor of Business in Real Estate Program, AIC Program, or Certificate Program in Real Property Assessment.
  • (3) denotes designation of academic credits to course.
  • (Prerequisite BUSI 121) denotes required prerequisite(s) for a particular course.
  • (Recommend BUSI 121) denotes a course that is recommended to be completed prior to enrolling, but is not a prerequisite.
  • [WTI, WTII, STI] denotes the terms a course is offered in:
  • WTI - Winter Term I: September to December
  • WTII - Winter Term II: January to April
  • STI - Summer Term I: June to September

BUSI 100 (3) Micro Foundations of Real Estate Economics
This course introduces the basic principles of microeconomics and applies these concepts to current real estate issues. Topics covered include opportunity costs, supply and demand, elasticity, market equilibrium, efficiency and equity, the role of the government, consumer choice, externalities, imperfect competition, and monopolies. Textbook sold separately: Principles of Microeconomics (5th Canadian Edition), Mankiw, $99 (includes taxes). Optional study guide: $39 (includes taxes). Can be purchased directly from the Real Estate Division's Online Bookstore. [WTI, WTII, STI]

BUSI 101 (3) Capital Markets and Real Estate
This course examines the impact of current monetary and fiscal policies on real estate investment decisions. The overall quality of production and the overall price level are used to monitor developments in the economy as a whole. The monetary system is studied as a crucial element in determining the long-run behaviour of price levels, the inflation rate, and other nominal variables. Monetary and fiscal policy is analyzed through open and closed economies. Textbook sold separately: Principles of Macroeconomics (5th Canadian Edition), Mankiw, $99 (includes taxes). Optional study guide: $39 (includes taxes). Can be purchased directly from the Real Estate Division's Online Bookstore. (Prerequisite BUSI 100) [WTI, WTII, STI]

BUSI 111 (3) British Columbia Real Property Law and Real Estate Ethics
This course is designed for individuals entering the real estate sales field. The course examines questions such as: What is real property? How are assets and interests in real property created and traded? BUSI 111 also examines a broad range of legal topics, including contracts, agency, mortgages, residential and commercial tenancies, registration of real property, overview of tort law, condominium law, and the legislation which affects real property transactions. The role of professionalism and ethical standards will also be dealt with in a general context as well as in the specific context of the real estate industry. The Real Estate Council of BC recognizes this course for licensing education exemption purposes. For details on licensing education exemptions, please see the Real Estate Council of British Columbia's Education Guidelines. [WTI, WTII, STI]

BUSI 112 (3) Canadian Real Property Law and Real Estate Ethics
This course covers similar topics as BUSI 111, but focuses the application of real property law across Canada and in sectors of real estate other than sales. However, please note that the majority of cases relied upon are from British Columbia. If you would prefer to take a law course specific to your province, see the Course Equivalency Matrices for recognized college or university courses available in your area. Note that the Real Estate Council of BC does not recognize this course for licensing education exemption purposes. [WTI, WTII, STI]

BUSI 121 (3) Foundations of Real Estate Mathematics
This course introduces the techniques of investment and statistical analysis in a real estate context. Topics include: statistical techniques, cash flow analysis, discounting, compounding, and the mathematics of real estate finance and investment analysis. There is also a brief overview of graphing and surveying. A personal computer with spreadsheet software is required. [WTI, WTII, STI]

BUSI 221 (3) Real Estate Finance in a Canadian Context
The supply of and demand for mortgage funds in the Canadian mortgage market is examined. Students will apply the principles of real estate financial analysis to a variety of topics, including: residential and commercial loan underwriting, loan refinancing, and creative real estate financing methods. Students will learn the evolution of financing techniques in light of both the inherent risks in mortgage lending and the external influences of inflation and government policy. (Prerequisite BUSI 121) [WTI, WTII]

BUSI 293 (3) Introductory Financial Accounting
Introduction to the construction and interpretation of financial reports prepared primarily for external use. If you would prefer to take an accounting course in your location, see the Course Equivalency Matrices for recognized courses available in your area. [Please note, BUSI 293 is offered through the Diploma in Accounting Program Office and separate program regulations and fees apply; contact the Diploma in Accounting Office for registration details. Please also note that the textbook for this course must be purchased separately through the UBC Bookstore ] [WTI, WTII]

BUSI 300 (3) Urban and Real Estate Economics
This course examines urban and real estate economics, illustrating how economic principles affect the demand for real estate, the operation of real estate markets, and the relationship between land use, land value and location. The overall objective of the course is to introduce the most important issues and topics in the study of cities and real estate markets, and to show how microeconomic principles can be used to critically analyze these problems. (Prerequisite BUSI 100; Recommend BUSI 121) [WTI, WTII, ST1]

BUSI 330 (3) Foundations of Real Estate Appraisal
Introduction to concepts and techniques for appraising the value of real estate. This course begins with an introduction to the appraisal profession in Canada and summarizes the appraisal process. The three classic approaches to value are presented and analyzed as they may be applied to single-family and small, multi-family residential properties. Textbook sold separately: Appraisal of Real Estate (3rd Canadian Edition) is required for BUSI 330 and recommended for BUSI 331, 442, and 452. $103.95 (tax included). (Recommend BUSI 100, 101, 121; note that BUSI 121 is not required for AIC's CRA designation) [WTI, WTII, STI]

BUSI 331 (3) Real Estate Investment Analysis and Advanced Income Appraisal
Valuation techniques for income real estate, including income method of appraisal, tax consequences of real property ownership, and portfolio analysis methodology. A personal computer with spreadsheet software is required for this course. (Prerequisite BUSI 121 & 330) [WTI, WTII, STI]

BUSI 344 (3) Statistical and Computer Applications in Valuation
Explores creative, practical uses of statistical and computer applications in determining and analyzing real estate value. Through case studies and hands-on computer work (e.g., using SPSS/PASW, NCSS, Excel), students will learn the fundamentals of exploratory data analysis and appraisal valuation modeling (AVMs). Additional requirements: statistical software required. (Recommend BUSI 121 and 330) [WTI, WTII, STI]

BUSI 352 (3) Case Studies in Residential Appraisal
This course illustrates the practical application of techniques for residential real estate appraisal. The case studies build upon foundational appraisal principles in examining a wide range of valuation assignments, including: market and feasibility studies, land valuation, multiple-unit residential buildings, rural properties, expropriation, review appraisal, and an assortment of specialized areas in real estate valuation practice. (Prerequisites BUSI 330. Recommend BUSI 121 and/or BUSI 344) [WTI, WTII, STI]

BUSI 398 (4) Residential Property Guided Case Study
This two term course will guide students through the appraisal process for residential properties, focusing both on valuation techniques as well as general research and report writing skills. This course fulfils the Appraisal Institute of Canada’s guided case study requirement for CRA designation, and is designed to be completed as the final course in the CRA designation program. Textbook sold separately: The Appraisal of Real Estate, Third Canadian Edition. Can be purchased directly from the Real Estate Division. (Prerequisite BUSI 330 & 352 - Required as of January 1, 2016) [WTI, WTII, STI]

AIC 399 (0) Single-Family Guided Case Study
This course guides students through the residential appraisal report writing process with the end result of submitting a full-scale single-family demonstration appraisal report. In this course, candidates benefit from interim feedback on portions of the report as well as additional instruction in areas such as report writing techniques, research ability, and critical thinking. Note that as part of this course, students are expected to choose their own property to appraise as well as research all of the data necessary to support the appraisal. The course is non-credit, but does fulfil the Appraisal Institute of Canada's requirement for a Single-Family Demonstration Appraisal Report. (Prerequisite BUSI 330). Textbook sold separately: Appraisal of Real Estate (3rd Canadian Edition), $103.95 (includes taxes). Can be purchased directly from the Real Estate Division's Online Bookstore. [WTI, WTII, STI]. Not for UBC credit; for AIC membership credit only. No longer offered, after September 2012; see BUSI 398 replacement course.

BUSI 400 (3) Residential Property Analysis
This course is designed to give real estate professionals, particularly appraisers, a working knowledge of the physical aspects of residential properties. The course covers how houses are sited, designed, and constructed in Canada, as well as how factors such as design, material selection, and construction type affect their value. Also covered will be the identification and evaluation of problems due to design, construction, or deterioration, their effect on value, and how problems should be reported. [WTI, WTII, STI]

BUSI 401 (3) Commercial Property Analysis
This course covers the underlying theory and techniques used in the design, construction, and inspection of commercial properties. The course will examine office, retail, apartment, industrial, and agricultural properties, as well as environmental issues and space measurement. [WTI, WTII, STI]

BUSI 425 (3) Land Use Regulation: Local Government Law and Planning
This course provides a general understanding of the land use regulatory process and the laws that govern that process. [soon to be developed; alternate TRU-OL course: BBUS 4469 Local Govt Land Use Planning]

BUSI 433 (3) Real Estate Business
Overview of business and management principles involved in establishing and operating a business in real estate. Topics include entrepreneurship, business strategy, client relations, finance, accounting, human resources, marketing, technology, and succession planning. Textbook sold separately: The Future of Business, Fourth Edition. [WTI, WTII, STI]

BUSI 441 (3) Residential Property Management
This course is devoted to topics relevant to the management of residential properties, both leasehold and strata-titled, at a senior level. The fundamentals of property management law, financial statements and budgeting, marketing and leasing, maintenance and procurement, personnel issues, insurance and risk management, security and safety concerns, and energy efficiency and green real estate are covered. (Prerequisite BUSI 331, Recommend BUSI 400) [WTI, WTII]

BUSI 442 (3) Case Studies in Appraisal I
This course illustrates the practical application of techniques of real estate appraisal. The case studies build upon foundational appraisal principles in examining a wide range of valuation assignments, including: multiple-unit residential buildings, industrial uses, office buildings, retail properties, land valuation, agricultural uses, expropriation, and review appraisal. Investment decisions will be analyzed from various perspectives. (Prerequisites BUSI 121, 330, & 331) [WTI, WTII, STI (subject to enrollment)]

BUSI 443 (3) Foundations of Real Property Assessment and Mass Appraisal
This course examines the basis for real property taxation systems and the administration of the mass appraisal function. Topics include assessment law, records and data systems, quality assurance, mapping, and human resource management. The course offers background on computer-assisted mass appraisal, outlining valuation foundations, issues in system selection, and GIS integration. (Recommend BUSI 330) [WTI, WTII, STI]

BUSI 444 (3) Advanced Computer Assisted Mass Appraisal
This course builds on computer-assisted mass appraisal techniques introduced in BUSI 344. Students use statistical software to develop models designed to improve the consistency and quality of real property assessments. Note that this course has a take-home examination that extends beyond the end of term. Additional requirements: statistical software required. (Prerequisite BUSI 121 & 344; Recommend BUSI 330 & 443) [WTI, WTII]

BUSI 445 (3) Real Estate Development I
Introduces the student to the real estate development process, providing an overview from the project idea to the cursory feasibility stage. The steps in development planning that will be investigated are analysis, design, and evaluation. Topics include evaluating development potential, land acquisition, and site planning. (Recommend BUSI 330 and 331) [WTI, WTII]

BUSI 446 (3) Real Estate Development II
Continues the analysis of the real estate development process introduced in BUSI 445, with an examination of economic feasibility studies, approval processes, project financing, construction, project management, and marketing phases. (Prerequisite BUSI 445) [WTI, WTII]

BUSI 451 (3) Commercial Property Management
This course explores topics relevant to the management of commercial properties. Topics covered include tenant relations, budgeting, marketing, insurance, and remedying disputes. Textbook sold separately: Managing and Leasing Commercial Properties is required. $99.75 (tax included). (Prerequisite BUSI 331; Recommend BUSI 441) [WTI, WTII]

BUSI 452 (3) Case Studies in Appraisal II
This course continues BUSI 442's study of practical applications of real estate appraisal techniques. The case studies build upon foundational appraisal principles in examining a wide range of valuation assignments, including: business valuation, machinery and equipment, hotels, impaired properties, market analysis/feasibility studies, and an assortment of special purpose properties. The readings conclude with an examination of various specialized areas in real estate valuation practice. (Prerequisites BUSI 121, 330, & 331; Recommend BUSI 442) [WTI, WTII, STI (subject to enrollment)]

BUSI 460 (3) Critical Analysis and Forecasting in Real Estate
This course develops the real estate professional's capabilities for offering high-level advisory services. With a focus on critical analysis, the course will delve into two quantitative decision making methodologies: decision analysis and forecasting. These methodologies will be explored through a problem solving framework. Additional requirements: textbooks sold separately. (Prerequisite BUSI 121; Recommend BUSI 330 and 344 or 444) [WTI, WTII]

BUSI 497 (6) Agricultural Guided Case Study
An agriculturally-focused version of BUSI 499 Income Property Guided Case Study course. This course fulfils the Appraisal Institute of Canada's guided case study requirement. (Prerequisite BUSI 330, 331, 442, & 452). Textbook sold separately: Appraisal of Real Estate (3rd Canadian Edition), $103.95 (includes taxes). Can be purchased directly from the Real Estate Division's Online Bookstore. [WTI, WTII, STI]

BUSI 499 (6) Income Property Guided Case Study
This two term course will guide students through the income property appraisal process, focusing both on valuation techniques as well as general research and report writing skills. This course fulfils the Appraisal Institute of Canada's guided case study requirement, and is designed to be completed as the final course in AIC’s designation program. (Prerequisite BUSI 330, 331, 442, & 452). Textbook sold separately: Appraisal of Real Estate (3rd Canadian Edition), $103.95 (includes taxes). Can be purchased directly from the Real Estate Division's Online Bookstore. [WTI, WTII, STI]

URST 400 (3) Urban Studies
This course examines: urbanization and the Canadian urban system, including urban metropolitan areas and their relationship to their hinterland; and the evolution of the metropolitan form and the inner workings of the city, including the process of social differentiation, the role of transportation in city building and the major land-use markets. Contemporary issues facing cities, which fall under the purview of local government and community planning, are also addressed. [not presently offered; alternative offering GEOG 350]

Professional Development Courses
(No prerequisites) [Open enrollment]