News Summary
The University of Detroit Mercy has launched a new real estate concentration within its business school to meet the growing demand for skilled professionals. The program includes courses taught by industry experts and emphasizes diversity in the workforce. With scholarship opportunities and a focus on practical experience through internships, UDM aims to prepare students for successful careers in real estate, standing out among local universities with the only established program in the tri-county area.
Detroit, Michigan — The University of Detroit Mercy (UDM) has officially launched a new real estate concentration within its business school aimed at providing students with hands-on training in the growing industry. This initiative is in direct response to increasing demands for skilled professionals and a noteworthy interest in diversifying the workforce within the real estate sector.
UDM’s new real estate concentration requires students to successfully complete three out of four courses offered in the program. These courses include Intro to Real Estate, The Real Estate Legal Environment, Real Estate Appraisals, and Real Estate Investments. Instruction is being delivered by industry professionals from Troya-based brokerage L. Mason Capitani and Detroit-based Rocket Companies Inc., ensuring that students receive practical insights and education relevant to current market practices.
The initiative has been spearheaded by Joe Eisenhauer, Dean of the College of Business Administration at UDM, who has emphasized the revitalization of the real estate program in response to community demand for enhanced diversity within the industry. In collaboration with the Ferguson Centers for Leadership Excellence based in Chicago, UDM is seeking to promote inclusivity by encouraging participation from more women and people of color in the real estate field.
In addition to the academic aspects of the program, students will have access to $10,000 scholarships offered by a supporting foundation for juniors and seniors, which will be supplemented with opportunities for internships and mentorship. This strategic support aims to empower students and prepare them for successful careers in real estate by bridging the gap between education and practical experience.
The burgeoning demand for real estate professionals, particularly those knowledgeable about appraisals and the commercial real estate market, presents significant job opportunities for UDM graduates. Moreover, UDM’s real estate concentration is touted as the only one in the tri-county area, in sharp contrast to other local universities that only offer related courses without an established program. Notable Michigan institutions such as Michigan State University and the University of Michigan provide minors in real estate but do not offer the same comprehensive coursework available at UDM.
Further expanding its educational offerings, UDM has also announced the introduction of Michigan’s first fully online law degree program, exemplifying the university’s commitment to innovating education in response to market needs. Additionally, other local non-university real estate training programs, such as Building Community Value’s Better Building, Better Blocks program and Women Empowered to Build (WE Build), complement the efforts of UDM in promoting real estate education and professional development in the area.
Overall, the University of Detroit Mercy is poised to fill a crucial gap in real estate education within the region, addressing both the industry demand and the critical need for diversity among future professionals in the field. With strong backing from industry experts and community partners, this new concentration reflects a strategic move toward enhancing career readiness in real estate.
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Additional Resources
- CBS News: Pontiac Woman Charged with Felonies in Real Estate Fraud Case
- Wikipedia: Real Estate
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- Google Search: Detroit Real Estate Market
- Crain’s Detroit: Jax Kar Wash Grows $100M Company
- Google Scholar: Detroit Real Estate Trends
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- Encyclopedia Britannica: Real Estate
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