Historically, people joined the real estate industry with little or no formal training. That perception is changing as large institutions start to dominate, as more organizations offer certifications and as the industry becomes more professional. That thinking has not yet penetrated many business schools in Canada: an August 2012 Globe and Mail article included the quote: “Real estate … is the biggest thing you never learn in business school.” (Since this article mentioned another university and completely ignored our 20 year old program, I am pleased to say that comments from our students corrected their oversight.) So, you may ask, what are the big ideas that should be learned?
In my opinion, the most important ideas when studying real estate are