• Real Estate
    College of Business computer
    labs are open 24/7
  • Real Estate
    Broker Laws Bouldin explains commercial real estate contracts
  • Real Estate
    MTSU students learn in and out of the classroom
  • Real Estate
    Real Estate classes include principles of financial management

Real Estate

It has been said that the game of football is an exercise in acquiring real estate. Teams face each other and push their way into the opponent's territory, increasing their real estate holdings while shrinking their adversary's home turf. Football is big business and so is real estate. It is estimated that nearly two-thirds of the fixed, tangible wealth in the United States is represented by real estate holdings. Employment in real estate and the construction industry typically accounts for five to seven percent of the total U.S. labor force. New real estate construction makes up about ten percent of our nation's annual gross national product. As an industry, real estate transactions score billions of dollars every year.

A budding real estate mogul

A budding real estate mogul

Kevin Fulton grew up in a family that owned a construction business, so real estate was already in his blood. In 2007, he received an undergraduate degree in Finance with a concentration in Real Estate from MTSU. Initially Kevin worked with Coldwell Banker Commercial, then Turner & Associates Realty, Inc., as a commercial real estate broker. In 2012, he launched his own enterprise and today is principal broker and founding partner of Market Retail Partners, LLC—an aggressive real estate brokerage in the greater Nashville area that specializes in retail leasing, investment sales, and development. 

Scholarships and hands-on opportunities

Scholarships and hands-on opportunities

The program currently awards eight scholarships for students majoring in Finance with a concentration in Real Estate. Four are $750 per semester; two are $500 per semester. Awards may be received for up to four semesters. Recipients normally must have a GPA of at least a 3.00. Additionally, students interested in urban rehabilitation can get in the trenches. A newly formed group recently visited downtown sites, met with city planners, and shared their views on development opportunities around the Courthouse Square. The group hosted an event for area merchants and civic leaders and also surveyed MTSU students for their perceptions of downtown Murfreesboro. Applied learning!

The MTSU Career Development Center serves as a centralized placement service and coordinates recruiting visits by a large number of companies who regularly visit the MTSU campus. Additionally, the real estate industry works closely with MTSU faculty members who teach real estate courses. These contacts produce internships, part-time work, and full-time employment opportunities. Careers in real estate include 

  • Appraiser
  • Broker
  • Buyer and rehabber of houses and apartments
  • Consultant
  • Contractor
  • Corporate asset manager
  • Direct equity investor
  • Home inspector
  • Land developer
  • Mortgage lender
  • Property manager
  • Relocation specialist
  • Research and education professional
  • Shopping center manager
  • Syndication and real estate securities professional
  • Title analyst/insurance broker
  • Urban planner
  • Writer/public relations practitioner


Employers of MTSU alumni include

  • Bank of America
  • Bob Parks Realty
  • Cushman and Wakefield
  • Durham Realty and Auction Co.
  • Exit Realty
  • Integra Realty Resources
  • Keller Williams Realty
  • Red Realty
  • Turley Martin Tucker Commercial Real Estate Services
  • Turner and Associates Realty, Inc.
  • United Financial Mortgage Corporation
  • Wells Fargo Bank

Dr. Philip A. Seagraves
Assistant Professor
Philip.Seagraves@mtsu.edu

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A student may earn a Bachelor of Business Administration (B.B.A.) degree in Finance with a concentration in Real Estate. The program requires that 50 percent of the major courses be taken in residence at MTSU. Other concentrations available in the Department of Economics and Finance under the Finance major are Business Finance, Financial Institution Management, and Insurance.

A student may minor in Real Estate and also earn a composite minor in Real Estate/Insurance. Other undergraduate minors include Economics, Economics and Finance, Industrial Relations, Finance, and Insurance.

The Department of Economics and Finance also offers two undergraduate degrees with a major in Economics: a Bachelor of Business Administration (B.B.A.) and a Bachelor of Science (B.S.). The B.B.A. is a business major, also available with a concentration in Labor Relations. The B.S. is offered through the College of Liberal Arts.

Graduate students can earn Master of Arts (M.A.) or Doctor of Philosophy (Ph.D.) degrees in Economics. Two concentrations are available under the M.A.: Financial Economics and Industrial Relations.

An academic map is a suggested four-year schedule of courses based on degree requirements in the undergraduate catalog. This sample schedule serves as a general guideline to help build a full schedule each term. Milestones, courses, and special requirements necessary for timely progress to complete a major are designated to keep you on track to graduate in four years. Missing milestones could delay your program. 

This map based on the 2013-2014 undergraduate catalog is not a substitute for academic advisement - contact your advisor if you have any questions about scheduling or about your degree requirements. Also see the current undergraduate catalog (catalog.mtsu.edu) for a complete list of requirements and electives.Note: Requirements are continually under revision, and there is no guarantee they will not be changed or revoked; contact the department and/or program area for current information. 

You may choose to attend a summer term to reduce your load during fall or spring terms but still stay on track to graduate in four years (see below). NOTE: Learning Support courses will alter the sequences on this map.

Finance–Real Estate Academic Map

Department of Economics and Finance
Middle Tennessee State University | Murfreesboro


Suggested Fall/Spring and Summer/Fall/Spring Four-Year Schedule

Refer to the scholarships website for information regarding use of the Lottery Scholarship for the summer term.

Click here for printer friendly academic map.

FRESHMAN FALL FRESHMAN SPRING
CourseHoursMilestones/Notes CourseHoursMilestones/Notes
ENGL 1010 (Comm)3  ENGL 1020 (Comm)3 
MATH 1630, MATH 1810, or MATH 1910 (Math)3  COMM 2200 (Comm)3 
Nat Sci (Rubric 1)4  Nat Sci (Rubric 2)4
ECON 2410* (Soc/Beh Sci)3  Elective3 
Elective1  Elective3 
SUBTOTAL14  SUBTOTAL16 
SOPHOMORE FALL SOPHOMORE SPRING
ENGL 2020, ENGL 2030, or HUM 2610 (Hum/FA)3  Hum/FA (Rubric 2)3 
Hum/FA (Rubric 1)3  HIST 2010, HIST 2020, or HIST 20303 
HIST 2010, HIST 2020, or HIST 20303  Soc/Beh Sci3 
ECON 2420*3  ACTG 21203Prereq: ACTG 2110
ACTG 2110*3Prereq: College-level math; ENGL 1010 QM 2610*3Prereq: MATH 1630 or 1810
SUBTOTAL15  SUBTOTAL15 
*2.25 GPA in these courses for admission to Jones College of Business 2.25 GPA overall required for admission to Jones College of Business
JUNIOR FALL JUNIOR SPRING
INFS 31003  BLAW 34003 
ECON 32103Prereq: ECON 2410 BCEN 35103 
FIN 24503  FIN 3810§3Prereq: FIN 3010
FIN 30103Prereq: Junior standing FIN 3910§3Prereq: FIN 3010
QM 36203Prereq: QM 2610 MGMT 36103 
SUBTOTAL15  SUBTOTAL15 
SENIOR FALL SENIOR SPRING
FIN 4430§3Prereq: FIN 2450 and 3010; fall only ECON 4500§3Prereq: ECON 2410 and 2420; spring only
FIN 4440§3Prereq: FIN 2450 and 3010; fall only FIN 4470 or 4710§3Prereq: Jr. standing (4470)/FIN 3610 (4710); spring only
FIN elective§3  FIN 4550§3Prereq: FIN 2450 and 3010; spring only
MKT 38203  FIN elective§3 
MGMT 36203Prereq: Junior standing BUAD 4980§3Taken last semester
SUBTOTAL15  SUBTOTAL15 
§Admission required §Admission required

TOTAL HOURS IN PROGRAM: 120

FRESHMAN SUMMER
CourseHoursMilestones/Notes CourseHoursMilestones/Notes
ENGL 1010 (Comm)3  COMM 2200 (Comm)3 
SUBTOTAL3  SUBTOTAL3 
FRESHMAN FALL FRESHMAN SPRING
MATH 1630, MATH 1810, or MATH 1910 (Math)3  ENGL 1020 (Comm)3 
Nat Sci (Rubric 1)4  Nat Sci (Rubric 2)4 
ECON 2410* (Soc/Beh Sci)3  Elective3 
Hum/FA (Rubric 1)3  Elective3 
SUBTOTAL13  SUBTOTAL13 
SOPHOMORE FALL SOPHOMORE SPRING
ENGL 2020, ENGL 2030, or HUM 2610 (Hum/FA)3  HIST 2010, HIST 2020, or HIST 20303 
Hum/FA (Rubric 2)3  Soc/Beh Sci3 
HIST 2010, HIST 2020, or HIST 20303  ACTG 21203Prereq: ACTG 2110
ECON 2420*3  QM 2610*3Prereq: MATH 1630 or 1810
ACTG 2110*3Prereq: College-level math; ENGL 1010 Elective1 
SUBTOTAL15  SUBTOTAL13 
*2.25 GPA in these courses for admission to Jones College of Business 2.25 GPA overall required for admission to Jones College of Business
JUNIOR SUMMER
INFS 31003  BLAW 34003 
SUBTOTAL3  SUBTOTAL3 
JUNIOR FALL JUNIOR SPRING
ECON 32103Prereq: ECON 2410 BCEN 35103 
FIN 24503  FIN 3810§3Prereq: FIN 3010
FIN 30103Prereq: Junior standing FIN 3910§3Prereq: FIN 3010
QM 36203Prereq: QM 2610 MGMT 36103 
SUBTOTAL12  SUBTOTAL12 
SENIOR SUMMER
MKT 38203  MGMT 36203Prereq: Junior standing
SUBTOTAL3  SUBTOTAL3 
SENIOR FALL SENIOR SPRING
FIN 4430§3Prereq: FIN 2450 and 3010; fall only ECON 4500§3Prereq: ECON 2410 and 2420; spring only
FIN 4440§3Prereq: FIN 2450 and 3010; fall only FIN 4470 or 4710§3Prereq: Jr. standing (4470)/FIN 3610 (4710); spring only
FIN elective§3  FIN 4550§ 3Prereq: FIN 2450 and 3010; spring only
FIN elective§3  BUAD 4980§3Taken last semester
SUBTOTAL12  SUBTOTAL12 
§Admission required §Admission required

TOTAL HOURS IN PROGRAM: 120

Graduation information may be accessed here.

Finance

FIN 2010 - Personal Financial Planning
3 credit hours
Includes budgeting and saving techniques, tax planning, insurance principles, consumer credit, housing, investment alternatives, and retirement and estate issues. This course may not be used as a Finance elective for the Business Finance, Financial Institutions Management, Insurance, or Real Estate concentration.

FIN 2450 - Principles of Real Estate
3 credit hours
Real estate practices and procedures, basic principles of real property ownership utilization and transfer, mortgage financing, brokerage, management, valuation, subdividing, and legislation.

FIN 3000 - Principles of Financial Management
3 credit hours
Will not substitute for FIN 3010. An overview of the fundamental concepts and tools for financial decision making within a business firm. (Not open to business majors.)

FIN 3010 - Business Finance
3 credit hours
Prerequisite: Junior standing. Theory of corporate finance, emphasizing wealth creation, valuation, risk, capital budgeting, and cost of capital.

FIN 3090 - Financial Planning
3 credit hours
Prerequisite: FIN 3010 with a minimum grade of C (2.00); junior standing; admission into the College of Business. Financial and estate planning with a focus on issues and applications relevant to professional financial and estate planners. Topics include the role of the planner, the planning process, insurance planning, estate planning, retirement planning, tax planning, cash management, credit management, and comprehensive financial and estate plans.

FIN 3430 - Public Finance
3 credit hours
(Same as ECON 3430.) Prerequisites: ECON 2410, ECON 2420; junior standing; and admission into the College of Business. Economic foundations of federal tax and expenditure policies. Current issues in federal budget policy. Policy applications illustrating key concepts such as public goods, externalities, income distribution, tax incidence, tax equity, and allocative efficiency. Intergovernmental fiscal relations.

FIN 3610 - General Insurance
3 credit hours
Prerequisites: Junior standing and admission into the College of Business. The principles of risk and risk bearing; insurance carriers; survey of principles of life, health and accident, fire, marine, and automobile insurance policies; government regulation of insurance.

FIN 3660 - Life Insurance and Health Insurance
3 credit hours
Prerequisites: Junior standing and admission into the College of Business. Problems of purchaser and seller; critical investigation of life and health insurance with emphasis on social and economic aspects.

FIN 3710 - Property and Casualty Insurance
3 credit hours
Prerequisites: Junior standing and admission into the College of Business. Scope and fundamentals of property and liability insurance; analysis of contracts, rating, underwriting, insurers, and loss of adjustment requirements and procedures.

FIN 3810 - Investments
3 credit hours
Prerequisites: FIN 3010 and admission into the College of Business. Introductory survey course focusing on investment markets and instruments. Emphasis on security characteristics, analysis, and valuation.

FIN 3910 - Computer Applications in Finance
3 credit hours
Prerequisites: FIN 3000 or FIN 3010 and admission into the College of Business. Employing a computer in economics and financial decision making. Covers spreadsheets, object-relational database management systems, and data warehousing.

FIN 3950 - Intermediate Financial Management
3 credit hours
Prerequisites: FIN 3010 with a minimum grade of C (2.00) and admission into the College of Business. Reviews and extends the basics of risk, valuation, and the creation of wealth. Explores capital budgeting, capital structure, and their interactions.

FIN 3970 - Cooperative Education
3 credit hours
(Same as ECON 3970.) Prerequisites: Junior standing and admission into the College of Business. Cooperative Education experiences provide students with opportunities for on-the-job training in conjunction with on-campus academics. These courses will not satisfy major or minor requirements. Interested students should contact the Career Development Center. Students will be selected for participation and opportunities may be limited.

FIN 3980 - Cooperative Education
3 credit hours
(Same as ECON 3980.) Prerequisites: Junior standing and admission into the College of Business. Cooperative Education experiences provide students with opportunities for on-the-job training in conjunction with on-campus academics. These courses will not satisfy major or minor requirements. Interested students should contact the Career Development Center. Students will be selected for participation and opportunities may be limited.

FIN 4110 - Managerial Finance
3 credit hours
Prerequisites: Senior standing; FIN 3010 with a minimum grade of C (2.00); and admission into the College of Business. A case course emphasizing the financial aspects of management. Topics include financial statement analysis, working capital management, capital budgeting, and cost of capital.

FIN 4260 - Financial Markets and Institutions
3 credit hours
(Same as ECON 4260.) Prerequisites: ECON 3210 with a minimum grade of C (2.00); FIN 3010 with minimum grade of C (2.00); and admission into the College of Business. Examines the structure and functioning of our monetary-financial system. Emphasis on the institutional process of financial intermediation in the financial marketplace and the role that specific institutions and instruments play.  

FIN 4310 - Problems in Government Finance
3 credit hours
(Same as ECON 4310). Prerequisites: ECON 2410, ECON 2420, and admission into the College of Business. Current issues in taxation, theory of income taxation, consumption taxes, property and wealth taxes. Advanced treatment of tax incidence, tax efficiency, income distribution, fiscal federalism, and state and local budget issues.

FIN 4360 - Management of Financial Institutions
3 credit hours
Prerequisites: ECON 3210 with a minimum grade of C (2.0) and admission into the College of Business. Development of fundamental concepts and principles of sound institution management. Includes the financial environment, strategy, performance measures, asset/liability management topics, within an overall decision framework.

FIN 4390 - Employee Benefits
3 credit hours
(Same as ECON 4390.) Prerequisites: Junior standing and admission into the College of Business.  Includes descriptive review and taxation, legislative, and administrative dimensions of the major components of employee benefit plans such as retirement systems, deferred compensation plans, health insurance, death benefits, disability benefits, paid and unpaid time off. Technical analysis and problem solving emphasized to develop applied skills. Social insurance and international benefits integrated.

FIN 4430 - Real Property Valuation
3 credit hours
Prerequisites: FIN 2450; junior standing;admission into the College of Business; and  FIN 3010 strongly recommended. Theory and methods of real property valuation. Employs qualitative and quantitative analysis to appraise residential and income-producing properties. Emphasizes comparable sales, cost-depreciation, and income capitalization.

FIN 4440 - Real Estate Finance
3 credit hours
Prerequisites: Junior standing; admission into the College of Business; FIN 2450 and FIN 3010 strongly recommended. Financial analysis applied to various types of real property. Includes underwriting, sources of funds, portfolio problems, and government programs. Emphasizes analysis of money and mortgage markets and modern creative financing.

FIN 4470 - Real Property Law for Commerce and Agriculture
3 credit hours
(Same as ABAS 3140 and BLAW 4470.) Prerequisite: Junior standing. Legal rights and limitations of ownership of property, estates, titles, methods of transferring titles, abstract of titles, mortgages, leases, easements, restrictions on the use of property, real estate development, application of contract law to real property, and the role of real estate in the administration of estates. Emphasis on specific application to agricultural businesses and farms.

FIN 4510 - Real Estate Brokerage and Management
3 credit hours
Prerequisites: FIN 2450; junior standing; and admission into the College of Business. Management principles and techniques for the successful real estate brokerage firm. Topics emphasized are organizing, planning, management, marketing, and advertising techniques.

FIN 4550 - Real Estate Investment Analysis
3 credit hours
Prerequisites: FIN 2450, FIN 3010; junior standing; admission into the College of Business. Analysis of real estate projects and markets. Emphasizes market research, taxes, financing techniques, and discounted cash flow analysis. Requires computer-assisted investment tools and case analysis.

FIN 4590 - Independent Study in Real Estate
1 to 3 credit hours
Prerequisites: Junior standing and admission into the College of Business. Current analysis of issues in the field of real estate with concentration on major problems and policies in managing real estate and other related resources.

FIN 4710 - Insurance in Estate Planning
3 credit hours
Prerequisites: FIN 3610 and admission into the College of Business. Insurance as it may relate to estate planning examined in detail. Focus on estate planning principles including the problems of estate liquidity, taxation, governmental regulation, and costs involved in handling estates. Also included are ownership provisions and beneficiary designations, settlement options, and trusts.

FIN 4730 - Insurance Company Operations
3 credit hours
Prerequisites: FIN 3610 and admission into the College of Business. Insurance marketing, underwriting, reinsurance, rate making, claims adjusting, loss control activities, and other functions and activities.

FIN 4750 - Risk Management
3 credit hours
Prerequisites: FIN 3610 and admission into the College of Business. Analysis of major sources of liability loss exposures and the insurance coverages designed to meet those exposures. Noninsurance techniques such as loss control and risk transfer also discussed.

FIN 4790 - Independent Study in Insurance
3 credit hours
Prerequisites: FIN 3610 and admission into the College of Business. Application of various insurance coverages to fulfillment of personal, business, and social needs. Special problems chosen or assigned in areas of the student's interest in joint consultation between student and instructor.

FIN 4800 - Microfinance
3 credit hours
Prerequisite: Admission into the College of Business. For senior Finance major/minors or M.B.A. students. Explores and analyzes the key issues associated with microfinance and wealth creation. Topics include introduction to microfinance, credit methodology, microfinance institutions, client impact studies, effective interest rates, performance measurement of management, strategic issues in microfinance I: sustainability, challenges in microfinance, other microfinance product and offerings—social businesses and delinquency management.

FIN 4810 - Portfolio Theory and Management
3 credit hours
Prerequisites: Senior standing; FIN 3810; and admission into the College of Business. Rigorous development of investment theory from its origins to current extensions and alternatives. Emphasis on investor rationality, efficient portfolio selection, capital asset pricing and options valuation models, and market efficiency.

FIN 4860 - International Financial Management
3 credit hours
Prerequisites: Senior standing; admission into the College of Business; and FIN 3010 with a minimum grade of C (2.00). International capital markets, exchange rate exposure, risk management, and other multinational finance issues. Essential not only for United States exporters, but also for those facing competition from abroad.

FIN 4890 - Internship in Finance
1 to 3 credit hours
Prerequisites: Junior status; admission into the College of Business; and recommendation of advisor. Supervised work experience in cooperating business firms or government agencies together with specialized academic study relating to the work experience. Pass/Fail.

FIN 4900 - TVA Investment Challenge
3 credit hours
Prerequisites: FIN 3010, FIN 3810, and admission into the College of Business. Theories and concepts related to investing, security analysis and portfolio management in the management of a real portfolio of stocks. Topics include TVA investment guidelines, portfolio management strategies, stock selection, investment gurus, individual investment styles, data sources and Internet sites, stock screening techniques, and portfolio rebalancing.

FIN 4910 - Options, Futures, and Other Derivatives
3 credit hours
Prerequisites: FIN 3010 or equivalent and admission into the College of Business. Valuation and hedging of options, forward contracts, futures contracts, swaps, and other derivatives. Examines fundamental tools commonly used for pricing and hedging and options and futures contracts. For undergraduate and graduate students with little mathematics beyond algebra.

FIN 4990 - Independent Study in Finance
1 to 3 credit hours
Prerequisites: Junior standing and admission to the College of Business.  Problems for intensive study are chosen in joint consultation between student and instructor.