Real Property Analyst Certificate - Program Information 2015 2016
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Real Property
Analyst Certificate
Program Information
2015 - 2016
Langara College – Continuing Studies
100 West 49th Avenue
Vancouver, B.C. V5Y 2Z6
Telephone: 604-323-5322
Website: www.langara.bc.ca/real-estateLangara College Real Estate Programs
Real Estate Education at Langara College
Langara College is a leading provider of classroom-based real estate education.
We offer: convenient evening and weekend classes; flexible and self-paced
certificate programs; knowledgeable and experienced instructors; plus
recognition from the University of British Columbia, the Appraisal Institute of
Canada, the Professional Association of Managing Agents, and the Real Estate
Institute of British Columbia.
For course or program advice call John Neuls at 604-323-5409 or email jneuls@langara.bc.ca
Real Property Analyst Certificate
Table of Contents
Program Description page 2
Student Profile page 3
Learning Outcomes page 3
Required Courses page 4
Starting the Program page 5
Completing the Program page 5
Course Transfer to UBC page 5
Appraisal Education page 6
Real Estate Licensing page 7
BCREA Professional Development Program page 8
Class Times and Location page 8
Tuition and Books page 8
Course Descriptions page 9
Schedule and Registration Information page 11
Course Planner 2014-2015 page 12
2Langara College Real Estate Programs
Program Description
The Real Property Analyst Certificate provides a strong academic foundation in
real estate investment analysis, combined with practical knowledge of the
operating aspects of income-producing real estate. All courses are offered on a
part-time schedule.
The program consists of four core courses and four elective courses. The core
courses examine the principles and techniques of real estate valuation,
mathematics, investment analysis, and law. The elective courses offer students
some latitude to develop their knowledge in different areas of related expertise,
such as property management, non-profit housing management, residential
construction, building operating systems, financial statement review, and the art
of negotiation.
Students may enroll in any individual course, subject to a prerequisite in the case
of Real Estate Investment Analysis and Social Housing Management.
Student Profile
The program is designed for working adults who want a part-time, classroom-
based study option. The courses will appeal to the following:
Property managers seeking to enhance their knowledge and skills in
investment analysis and valuation
Managers in business, government, crown corporations, and non-profits
who require real estate investment knowledge in their job
Commercial realtors and their assistants
Private investors who require real estate investment knowledge
Persons seeking course credit toward a professional appraisal designation
and/or the UBC Diploma in Urban Land Economics
Graduates of commerce or business administration programs who want to
specialize in real estate
Graduates of the Langara College Property Management Certificate or the
Social Housing Management Certificate who require advanced knowledge
and skills in preparation for a senior position
Persons who want to earn the Rental Property Management License.
3Langara College Real Estate Programs
Learning Outcomes
Upon successful completion of this program, graduates should be able to:
Demonstrate a broad knowledge of real estate laws and operations, with
an emphasis on investment and asset management
Evaluate and discuss real estate assets from an “operating” perspective,
covering such topics as administrative systems, mechanical systems,
building services, leases, tenant policies, marketing plans, budget
development, and financial statements
Analyze real estate investment opportunities in light of professional
valuation techniques, including the income method of appraisal, net
present value analysis, internal rate of return, and portfolio analysis
methodology
Interpret professional appraisal reports and discuss valuation research
with colleagues and clients
Use spreadsheet software to create real estate investment cash flow
projections and reports
Explain various real property ownership structures, including their
advantages and disadvantages
Interpret statutes and regulations relevant to real estate and use this
knowledge in developing investment and management plans
Demonstrate communications skills acquired through an understanding of
report preparation, workplace communications strategies, and dispute
resolution techniques
Required Courses
To earn the certificate, students complete a total of eight courses.
Core Courses (4)
PROP 1005 Real Estate Appraisal equivalent to UBC BUSI 330
PROP 1024 Real Estate Mathematics equivalent to UBC BUSI 121
PROP 1020 Real Estate Investment Analysis equivalent to UBC BUSI 331
PROP 1004 Real Estate Law equivalent to UBC BUSI 111
Elective Courses (select 4)
PROP 1022 Residential Construction equivalent to UBC BUSI 400
PROP 1001 Property Management – Residential equiv. to UBC BUSI 441
PROP 1002 Property Management – Commercial equiv. to UBC BUSI 451
PROP 1030 Social and Affordable Housing in BC
PROP 1052 Social Housing Management
PROP 1060 Building Systems and Analysis
BSAD 1020 Negotiation and Dispute Resolution
BSAD 1088 Economics – Micro & Macro
GBSC 1006 Financial Skills for Managers
4Langara College Real Estate Programs
See page 11 of this brochure to locate current information on course dates, fees,
and registration procedures. Course descriptions begin on page 9. See the
Course Planner on page 12 for courses offered by semester.
Starting the Program
This is a part-time program with evening classes. Students may begin the
program in any semester by registering in one of the available program courses.
Registration is on a course-by-course basis each semester. There is no program
application/admission procedure.
Students may register in any individual course, subject to a prerequisite in the
case of Real Estate Investment Analysis and Social Housing Management.
The entrance requirement for any program course is completion of British
Columbia Grade 12 or equivalent, or 19 years of age or older. Students should
be able to read and write English at the Grade 12 level in order to successfully
complete the assignment and reading requirements in each course.
Completing the Program
To earn the certificate, students must complete the required core and elective
courses within a five-year period with a minimum grade of C (60%) in each
course. Upon successful completion of all required courses, students may apply
for the certificate at the Continuing Studies office.
A student who takes one course per semester will complete the entire certificate
program in about two and half years (8 semesters). A student who is working full-
time should only take one course per semester. A student who is not working
could take two or more courses per semester and complete the entire certificate
program in less time. See the Course Planner on page 12 for course offerings by
semester.
Note: These courses involve a great deal of homework to complete readings,
assignments and project work. Students should allow about 3 to 5 hours per
week for home study for each course, in addition to time in the classroom.
5Langara College Real Estate Programs
Course Transfer to UBC
The following Langara College courses have equivalencies in the Real Estate
Division of the Sauder School of Business at UBC:
Langara UBC Real Estate Division
PROP 1005 Real Estate Appraisal BUSI 330
PROP 1024 Real Estate Mathematics BUSI 121
PROP 1023 Real Estate Finance BUSI 221
PROP 1020 Real Estate Investment Analysis BUSI 331
PROP 1004 Real Estate Law BUSI 111
PROP 1022 Residential Construction BUSI 400
PROP 1001 Property Management – Residential BUSI 441
PROP 1002 Property Management – Commercial BUSI 451
PROP 1093 Micro Foundations of Real Estate BUSI 100
PROP 1094 Macro Foundations of Real Estate BUSI 101
Students may transfer all of the above courses toward the UBC Diploma in Urban
Land Economics and/or the UBC Bachelor of Business in Real Estate degree.
Visit www.realestate.ubc.ca for information on UBC programs in real estate.
Students who intend to transfer course credit from Langara to UBC should
discuss their education plan with UBC.
Appraisal Education
Students may earn a professional designation in appraisal from the Appraisal
Institute of Canada. All five Langara courses listed above apply toward a
designation from this professional institute.
Appraisal Institute of Canada
The following five courses may be applied toward the CRA designation
(Canadian Residential Appraiser) from the Appraisal Institute of Canada:
UBC Real Estate Division
PROP 1005 Real Estate Appraisal BUSI 330
PROP 1022 Residential Construction BUSI 400
PROP 1004 Real Estate Law BUSI 111
PROP 1093 Micro Foundations of Real Estate BUSI 100
PROP 1094 Macro Foundations of Real Estate BUSI 101
The above five courses, plus the following two courses, may be applied toward
the AACI designation (Accredited Appraiser Canadian Institute) from the
Appraisal Institute of Canada:
PROP 1024 Real Estate Mathematics BUSI 121
PROP 1020 Real Estate Investment Analysis BUSI 331
6Langara College Real Estate Programs
Students with a business degree may apply two courses (i.e. Real Estate
Appraisal and Real Estate Investment Analysis) toward the UBC Post-Graduate
Certificate in Real Property Valuation, an accelerated pathway to the AACI
designation.
Note: There are additional courses required to obtain the CRA and/or the AACI designation.
These courses are available from Sauder School of Business. In addition, there is a one-
year (full-time) work experience requirement for the CRA and a two-year (full-time) work
experience requirement for the AACI.
Visit www.realestate.ubc.ca for complete information on the Appraisal Institute of
Canada Education Program. The entire Appraisal Institute of Canada Education
Program is administered by UBC and delivered across Canada on a distance
education basis. Langara delivers part of the program on a classroom basis to
serve local students. Students who plan to transfer course credit from Langara to
UBC should discuss their education plan with UBC.
Real Estate Institute of British Columbia
You may become a professional member of the Real Estate Institute of B.C. and
be awarded the RI (Appraisal) designation upon completion of the Institute’s
education and experience requirements.
Completion of the appraisal specialization in the UBC Diploma in Urban Land
Economics (DULE) program fulfills the education requirement. The entire UBC
DULE program consists of eleven courses. All five Langara courses listed above
may be applied toward the UBC DULE (appraisal specialization).
Note: There is no degree requirement for the RI (Appraisal) designation. To fulfill the experience
requirement, students must work in the appraisal field for a minimum of three years (full-time).
For more information on the RI (Appraisal) designation, contact the Real Estate
Institute of B.C. at 604-685-3702 or visit the website (www.reibc.org). Visit
www.realestate.ubc.ca for information on the UBC DULE program.
Real Estate Licensing
Real Estate Council of British Columbia
Students who complete the following courses at Langara College may write the
exam for the Rental Property Management License:
UBC Real Estate Division
PROP 1004 Real Estate Law BUSI 111
PROP 1005 Real Estate Appraisal BUSI 330
PROP 1020 Real Estate Investment Analysis* BUSI 331
PROP 1001 Property Management – Residential BUSI 441
* The prerequisite is Real Estate Mathematics, a business math course or equivalent.
7Langara College Real Estate Programs
The following Langara courses are approved for full-day Relicensing Education
Program (REP) elective course credit and licensees will receive the appropriate
REP elective course credit for successful completion of any of the following
courses:
UBC Real Estate Division
PROP 1001 Property Management – Residential BUSI 441
PROP 1004 Real Estate Law BUSI 111
PROP 1005 Real Estate Appraisal BUSI 330
PROP 1020 Real Estate Investment Analysis BUSI 331
PROP 1022 Residential Construction BUSI 400
PROP 1024 Real Estate Mathematics BUSI 121
PROP 1043 Advanced Strata Management
Note: the REP program is currently under revision. Revised requirements apply to licenses
that expire in 2013-14. For full information on licensing course requirements, visit the Real
Estate Council of B.C. website at www.recbc.ca or call 604-683-9664.
British Columbia Real Estate Association
The above courses (except Advanced Strata Management) are also approved for
accreditation in the Professional Development Program (PDP) of the B.C. Real
Estate Association. Visit www.bcrea.bc.ca for more information.
Class Times and Location
Most courses hold classroom sessions 1 evening per week over a 12 or 13 week
period. Some courses hold classroom sessions on Saturday.
All classes are held at the Langara College campus at 100 West 49th Avenue in
Vancouver. Room numbers are posted on the ‘room board’ next to the
Continuing Studies office.
Tuition and Books
Tuition is paid on a course-by-course basis upon course registration at the start
of each semester. The total tuition for all courses in the certificate program is
approximately $5,400. Total tuition will vary depending on the elective courses
selected by the student. Tuition for individual courses is listed at the end of each
course description (see below).
The total cost for textbooks in all courses is approximately $800, depending on
the student’s elective course selections. Textbooks are available in the Langara
College Bookstore at the start of each semester. The Bookstore telephone
number is 604-323-5525. Bookstore information is also available on the College
website (www.langara.bc.ca).
8Langara College Real Estate Programs
Tuition and books are the only costs to the student. There are no student fees,
graduation fees, etc.
Course Descriptions
Note on Course Scheduling: Courses normally run one 3-hour classroom session per week on
a weekday evening or a Saturday. For example, a 36-hour course may run over 12 weekly
sessions at 3 hours per session. See page 11 to locate current scheduling information. Also see
the Course Planner on page 12. Tuition is subject to change.
PROP 1060 Building Systems and Analysis
This course provides a thorough examination of building systems and equipment, and
how to analyze and rectify problems in building systems. Topics include: building
structure and envelope, mechanical systems and HVAC, maintenance and inspection
schedules, report research, building audits, energy efficiency, and problem-solving
techniques. Course content applies to residential and commercial properties as well as
institutional facilities. This is an elective course in the Real Property Analyst Certificate
program. (36 hours) $504
BSAD 1088 Economics – Micro & Macro
This course introduces the issues, concepts, and theories of micro-economics and macro-
economics. It provides practice in applying economic reasoning to decision-making and
forecasting problems in business, industry, and government. This is an elective course in
the Real Property Analyst Certificate program. (39 hours) $615
GBSC 1006 Financial Skills for Managers
This course explains accounting concepts, tools, and methods in concise and
understandable terms. Students will learn basic skills such as reading financial
statements, analyzing financial reports, developing and modifying revenue and expense
forecasts, and identifying and monitoring critical measures of business performance. This
is an elective course in the Real Property Analyst Certificate program. (36 hours) $412
PROP 1094 Macro Foundations of Real Estate
Many aspects of the monetary system are of vital importance to anyone working in real
estate. These include: national income accounts, international trade and investment,
exchange rates, economic fluctuations, and inflation. Learn all about these important
topics through a series of real-life scenarios relevant to Real Estate. (39 hours) $684
Note: This course meets UBC BUSI 101 (Capital Markets and Real Estate) requirements.
PROP 1093 Micro Foundations of Real Estate
Supply and demand, consumer choice, cost of production, consumers, producers, and
competitive markets are all important forces in the real estate industry. They need to be
understood by everyone working in the field today. In this practical course you will work
through a series of real-life cases in direct relationship to Real Estate. (39 hours) $684
Note: This course meets UBC BUSI 100 requirements.
9Langara College Real Estate Programs
BSAD 1020 Negotiation and Dispute Resolution
Develop the dispute resolution, negotiation, and mediation skills essential in today’s
demanding workplace. Learn how to analyze complex issues, find common ground, deal
with different communication styles, envision win-win outcomes, avoid litigation, and
effectively resolve disputes. This is an elective course in the Real Property Analyst
Certificate program. (36 hours) $434
PROP 1002 Property Management – Commercial
Learn the principles and practices of commercial, industrial, and retail property
management. Topics include: property types, law, management agreements, marketing,
leases, maintenance and security, budgets and controls, insurance, assessment and
taxation, special-use properties (e.g. medical, industrial parks, commercial strata),
personnel management, and tenant relations. Emphasis is placed on critical thinking skills
related to marketing and management challenges. This is an elective course in the Real
Property Analyst Certificate program. (39 hours) $684. This course meets UBC BUSI
451 requirements.
PROP 1001 Property Management – Residential
Learn the principles and practices of professional residential rental and strata
management. Topics include: property types, licensing and trust accounts, the Residential
Tenancy Act, the Strata Property Act, management agreements, rental marketing, tenancy
applications and agreements, budgets and controls, maintenance and security planning,
insurance, and employee relations. This is an elective course in the Real Property Analyst
Certificate program. (39 hours) $684. This course meets UBC BUSI 441 requirements.
PROP 1005 Real Estate Appraisal
Learn concepts and techniques for appraising real estate value. This course is designed
for persons who want to work in the areas of appraisal and assessment. Topics include:
the appraisal profession, the appraisal process, property analysis, market and use analysis,
valuation methods, value reconciliation, and report writing. Note on AIC/UBC Transfer:
This course meets Appraisal Institute of Canada and UBC BUSI 330 requirements. This
is a core course in the Real Property Analyst Certificate program. (39 hours) $684
PROP1023 Real Estate Finance
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. Note: Broker & Trading Services License Transfer: This
course meets Real Estate Council of BC and UBC BUSI 221 requirements.
(39 hours) $684
PROP 1020 Real Estate Investment Analysis
This course explains valuation techniques for income-producing real estate, including the
income method of appraisal, tax consequences of real property ownership, and portfolio
analysis methodology. Note on AIC/UBC Transfer: This course meets Appraisal Institute
of Canada and UBC BUSI 331 requirements. Prerequisite: Real Estate Mathematics and
Real Estate Appraisal. A computer with spreadsheet software and a Hewlett Packard
10Langara College Real Estate Programs
(HP) 10BII financial calculator are also required. This is a core course in the Real
Property Analyst Certificate program. (39 hours) $684
PROP 1024 Real Estate Law
Learn British Columbia real estate law and professional standards of conduct. Topics
include: the judicial system, torts, contracts, agency, interests in land, title registration,
property transactions, mortgages, stratas, residential and commercial tenancies, land use
regulation, and professional responsibility. Note on AIC/UBC Transfer: This course
meets Appraisal Institute of Canada and UBC BUSI 111 requirements. This is a core
course in the Real Property Analyst Certificate program. (39 hours) $684
PROP 1024 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. Note on AIC/UBC Transfer: This
course meets Appraisal Institute of Canada and UBC BUSI 121 requirements. This is a
core course in the Real Property Analyst Certificate program. (39 hours) $684
PROP 1022 Residential Construction
Gain a working knowledge of the physical aspects of residential properties. Learn how
houses are sited, designed, and constructed in Canada, plus how factors such as design,
material selection, and construction type affect their value. Discover how to identify and
evaluate problems due to design, construction or deterioration, their effect on value, and
how problems should be reported. Note on AIC/UBC Transfer: This course meets
Appraisal Institute of Canada and UBC BUSI 400 requirements. This is an elective
course in the Real Property Analyst Certificate program. (39 hours) $684
PROP 1020 Social and Affordable Housing in BC
Explore the history of social and affordable housing in BC and examine current
government policy and social housing conditions. Management topics include: financial
planning and budgets; operations and purchasing; risk and insurance; and working with
staff, volunteers, and tenants. An introductory course for anyone involved in social
housing operations or development. This is an elective course in the Real Property
Analyst Certificate program. (30 hours) $380
PROP 1052 Social Housing Management
This course includes an in-depth study of contemporary social housing management
issues and challenges, with a particular focus on social housing in BC. Major topics
include: assessing housing needs, redeveloping the housing stock, creating development
partnerships, tenant support programs, community relations, and financial management.
Each student will complete a major project offering analysis and recommendations on a
contemporary management problem. Prerequisite: Social and Affordable Housing in BC.
This is an elective course in the Real Property Analyst Certificate program.
(30 hours) $430
11Langara College Real Estate Programs
Schedule and Registration Information
Langara College offers real estate courses in the fall semester (September-
December), spring semester (January-April), and the summer semester (May-
August). Not all courses are offered every semester. See the Course Planner
below for courses offered each semester.
For current course offerings, course dates, and other information, visit:
www.langara.bc.ca/real-estate
Note: The schedule for an upcoming semester is displayed on the website approximately 6
weeks before the start of the new semester. For example, the schedule for the Sep-Dec
semester will appear on the website by July 31. The schedule for the Jan-Apr semester will
appear on the website by November 30.
For a current Continuing Studies Catalogue (print version), visit the Continuing
Studies office or call to have a current Catalogue sent by mail.
Langara College – Continuing Studies
100 West 49th Avenue
Vancouver, B.C. V5Y 2Z6
Telephone: 604-323-5322
Website: www.langara.bc.ca/cs
Course Planner
2015 - 2016
The “X” indicates the semester in which a course is offered. While every effort is made to follow
this schedule, the College reserves the right to make adjustments due to unforeseen
circumstances.
Course Sep-Dec Jan-Apr May-Aug
PROP 1060 Building Systems and Analysis X X
BSAD 1088 Economics – Micro and Macro X X X
GBSC 1006 Financial Skills for Managers X X X
BSAD 1020 Negotiation and Dispute Resolution X X
PROP 1002 Property Management – Commercial X X
PROP 1001 Property Management – Residential X X
PROP 1005 Real Estate Appraisal X X
PROP 1023 Real Estate Finance X
PROP 1020 Real Estate Investment Analysis X
PROP 1004 Real Estate Law X X
PROP 1024 Real Estate Mathematics X X
PROP 1022 Residential Construction X
PROP 1030 Social and Affordable Housing in BC X X
PROP 1052 Social Housing Management X
2015-03-20
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