Marketing Management (Professional Real Estate Option)

Examine in depth the relationship between foundational macroeconomic principles and the five core elements of a real estate market. Students become proficient in identifying and interpreting macro PEESTLL (political, economic, environmental, social, technological, legal, and leadership) influences relevant to the ever-changing nature of real estate market opportunities. Students then apply these concepts by drilling down through metropolitan, municipal, and neighbourhood real estate markets relevant to both residential and commercial specialties. Students start with an assigned specific local residential market, developing skills in tracking and forecasting market trends. Learning is then progressed by advancing to the challenge of tracking and forecasting the complexities of a local commercial market. Students demonstrate their grasp of macroeconomic principles related to the real estate industry through a number of case-study assignments, both individually and in teams.
Prerequisite(s):

• Completion of second-level Marketing Management courses

Explore research tools and techniques needed to execute various marketing research projects. Emphasis will be on how marketing research fits into the strategic planning process; conducting situation analyses and exploratory research; identifying and locating sources of secondary data including Internet and other online resources; evaluating and selecting appropriate methods for conducting primary research; designing data gathering tools; conducting effective survey fieldwork; and tabulating, analyzing and reporting of primary research findings. Students will be required to complete a major multi-method marketing research project.
Prerequisite(s):

• No prerequisites are required for this course.

This course builds on basic selling and business communication skills and enables students to develop negotiating and conflict resolution skills for business. The focus on this course will be on business negotiations which rely on trusting relationships, and which lead to win-win agreements, most commonly in seller-buyer interactions. Students will be expected to engage in several experiential negotiating exercises to develop and apply their negotiation skills in a wide range of business situations.
Prerequisite(s):

• MKTG 2243 or (MKTG 1219 and MKTG 2319)

Review and analyze the law as it applies to real estate lending in British Columbia, then current market loan evaluation criteria and approval considerations including timing and costs. Through case studies and practical examples, students learn the methods of calculating the elements of a real estate loan, including amortization, payments, outstanding balances, effective interest rates, pre-payment penalties, and total cost of lending for a real estate loan. Starting initially with the residential marketplace examples, students work individually and in teams to hone their skills before expanding to the more sophisticated and complex commercial lending market.
Prerequisite(s):

• Completion of second-level Marketing Management courses

​Real estate markets change in moments, and different sectors of the market are typically often functioning independently based on product, location, and age of product. For a business to capture and harvest sustained profitability, business leaders must simultaneously embrace teamwork tapping into the benefits of collaboration at all levels, while operating decisively as individuals. In this course students focus on application of four core business concepts; Business Meetings, High Performance Work Teams, Business Case, and Business Strategy, and their coupling with a Marketing Strategy. Students work both independently and in teams to apply these concepts to real estate sector through case studies and the development of a Business Case, Business Strategy and Marketing Strategy. Students hone their team work and presentation skills to demonstrate competencies expected in the professional real estate industry.​
Prerequisite(s):

• Completion of all level 1 and level 2 courses

Focus on the British Columbia real estate industry model and examine a comprehensive slate of topics: fundamentals of Canadian law and BC law governing real estate industry regulation, professional liability, tenancy law, strata property law, professional ethics and standards of practice, contracts, agency, real property tax, the environment, Indigenous lands, and the real estate transaction completion process. Students will learn by researching relevant applicable BC law and regulation and then comparing and contrasting it with that of other jurisdictions globally. In-class case presentations, individually and in teams, along with in-class individual examinations will confirm the student's learned knowledge.
Prerequisite(s):

• Completion of second-level Marketing Management courses

Engage components of enforceable sale and lease contracts including the Letter of Intent as it applies to commercial real estate transactions, the offer to mortgage as it applies to standard mortgage transactions, and contracts relevant to professional property management. Through case-based learning, students apply these essential real estate industry tools in a variety of residential and commercial market scenarios that facilitate the growth of practical knowledge to a higher level of application competency. Through a combination of individual examination and individual and team-based case-study work, students demonstrate competency in evaluating sale and lease contracts, as well as drafting sale and lease contracts that adhere to BC Real Estate industry regulations.
Prerequisite(s):

• MKTG 3700

Competency in evaluating the market value of a real property asset is essential for the real estate professional. This course introduces students to the four fundamental approaches typically considered in advance of competently and efficiently completing an evaluation mandate. Students will learn to confidently establish value in yesterday's, today's, and tomorrow's residential and commercial markets. Learning is demonstrated through a combination of individual examination and individual and team-based case-study reports.
Prerequisite(s):

• MKTG 3300

​To be competitive in today's market, a successful business person needs to be able to leverage internal data, and utilize the appropriate analytic methods to drive overall company performance. In this course you will learn how to optimize revenue and profit by making strategic marketing decisions based on marketing analytics. Students develop practical analytical skills including: applying marketing analytical techniques to establish customer segmentation schemes, developing a dashboard for effective reporting and alerts, predicting revenue and return on investment (ROI) impact of specific marketing and sales strategies, and developing tests for optimizing business impact. Students complete hands-on projects applying the major areas of study to real business situations.
Prerequisite(s):

• Completion of third-level Marketing Management courses

​As a member of a High-Performance Real Estate Team, students apply skills and competencies learned throughout the program in real time in the real estate marketplace. Working in teams, through consultation with a real estate sponsor, students must create a minimum of two, and maximum of three, potential projects proposals. Teams pitch the proposals to the faculty advisor seeking approval to move forward on one of the proposals. Working in the industry typically a minimum of four hours weekly, teams will advance efficiently to complete the consulting project at a high, professional level. On completion teams present the finished product to the faculty advisor and then, as contracted, to the industry sponsor.​
Prerequisite(s):

• 50% in MKTG 3301 and 50% in MKTG 3500 and 50% in MKTG 3300 and 50% in MKTG 3700

​The practicum is an immersive, supervised experience that enables students to apply the skills that they have acquired so far in their studies in a real-world business environment. Students secure a one day per week work experience in the Real Estate Industry and receive feedback on their job competencies from work supervisors as well as BCIT faculty. Students engage in a process of career goal development and professional self-reflection. Prior to embarking on the practicum work experience, students will gain confidence and enhance inter-personal skills through role plays and case scenario analysis.​
Prerequisite(s):

• 50% in MKTG 3301 and 50% in MKTG 3500 and 50% in MKTG 3300 and 50% in MKTG 3700

In this course students learn to focus on regional, municipal, neighbourhood, site planning and zoning which governs the ultimate use of the property. Sustainability, as it applies to the natural environment, will also be considered both in concept and use. Through a variety of measures including evaluation of data sets, past and present development projects, and government regulations, students demonstrate an ability to identify profitable development opportunities and apply sound business strategy to a development proposal within forecasted market conditions.
Prerequisite(s):

• MKTG 3300 and MKTG 3700 and MKTG 3500

Assessing and completing a pro forma workup on a real estate asset for the purposes of determining whether or not the property can be a viable target for profitable development is a foundational skill for the real estate professional. Beginning with a residential detached site, the focus then moves into small scale multi-family assets and concludes with small scale commercial properties all in an urban market. Students are provided with the opportunity to merge the knowledge gained from prerequisite courses with this learning experience in real-market scenarios to demonstrate competency in completing a feasibility study for a specific real estate market opportunity.
Prerequisite(s):

• MKTG 3300 and MKTG 3700 and MKTG 3500

Engage with the dynamic nature of the real estate industry with an overview of current issues facing the real estate professional. Students will be able to anticipate and adapt to the latest trends and events that will impact their professional lives. Course content will focus on current research, issues, technology tools, and dilemmas facing the professional sales representative.
Prerequisite(s):

• No prerequisites are required for this course.

Making a pitch—the marketing or market search mandate—is the end goal of a real estate professional's relentless prospecting for new business leads and opportunities. The objective of the pitch is to win the trust of the prospective client (buyer, a seller, a landlord, a tenant, a lender, or a municipal official) and be granted the exclusive mandate to represent the client's interests in the marketplace. Creating a sustainable business career as a real estate professional requires master skills in building and delivering winning proposals. In this course, students work together in teams to evaluate approaches to making a pitch for different prospective clients. Students then individually hone skills in developing targeted, competitive pitches as well as demonstrating the ability to make effective pitch presentations that are at industry professional competency standards, including meeting any BC regulatory requirements and industry ethics standards.
Prerequisite(s):

• MKTG 3300 and MKTG 3334