The supply for Real Estate Education in Poland – the case of Cracow University of Economics Bartlomiej Marona Cracow University of Economics Department of Real Estate and Investment Economics

'Modern University with a Rich Tradition' State university, established in 1925 One of 5 state schools of economics in Poland Over 21,000 students 681 instructors and professors (incl. 54 nominated professors) Large 17-acre campus in the heart of Cracow Modern and new infrastructure High position in rankings among Polish schools of business/economics Reputation among employers

Faculties Faculty of Economics and International Relations Faculty of Management Faculty of Finance Faculty of Commodity Science

Study programs All levels bachelor master PhD postgraduate professional All forms daytime studies evening studies weekend/extramural studies Close to students Krakow campus Debica campus teaching centres in other towns

The specialization – Real Estate Economy Conducts by Department of Real Estate and Investment Economics Place at the University Faculty - Economics and International Relationship Major - Economics

Specialisation - info Form of studies: full time, evening and extramural Lectures, classes and short training About 120 students per year at a full time course About 70 students per year at a extramural course From 1991 (earlier existed as Construction Economics)

Universities which run Real Estate Economy State-run Schools Warsaw - Warsaw School of Economics Lodz – University of Lodz Krakow – Cracow University of Economics Olsztyn – University of Warmia and Mazury in Olsztyn Katowice – University of Economics in Katowice Poznan – Poznan University of Economics Private (selected): Warszawa – Higher School of Real Estate Management Tarnow – Malopolska Higher School of Economics

Studies in Real Estate (graduate and postgraduate) Division into two cycles – Specialization REE 1st cycle consists of 6 semesters – specialization from 4th semester 2nd cycle consists of 4 semesters – specialization from 2 semester Number of hours for specialization subjects B.A. - about 750 h (total: 1830 h) M.A. – about 345 h (total: 720 h)

Professional Activity in Real Estate Economy Real estate agent, property manager, property valuer Legal regulation: Act on Real Estate Management from August 21 of 1997 Since 2008 – new regulations abolishing state exam for real estate agent and property manager

Real Estate Agent and Manager - Requirements Completion of studies in real estate economy or postgraduate studies for real estate agents and property manager Six-month training/practice Working out example of transaction or management plan Delivering documents to Qualification Committee Positive consideration - license

NoCourses - exampleHours 1 Fundamentals of real estate brokerage & trading 2 State administration and public administrative organs 3 Concepts and definitions related to real property 4 Property law 5 Civil law relations 6 Real estate management 7 Spatial economy 8 Sources of information on real estates 9 Economic bases of the land market 10 Transactions on the land market 11 Notary public in real estate trading 12 Activities of a real estate broker 13 Administration and management of a real estate agency – business law 14 Financial law – taxes and fees in real estate trading 15 Fundamentals of civil engineering 16 Real estate management – selected problems 17 Real estate valuation – selected problems T o t a l213 Minimum curriculum requirements – real estate agents

NoCourse (example)Hours 1Fundamentals of real estate management 2State administration and public administrative organs 3Concepts and definitions related to real property 4Property law 5Civil law relations 6Real estate management 7Spatial economy 8Sources of information on real estates 9Economic bases of the land market 10Economic-financial planning and management 11Taking over real estates 12Residential property management 13Non-residential property management 14Organization of real estate management 15Fundamentals of civil engineering 16Real estate valuation – selected problems 17Real estate management plans T o t a l253 Minimum curriculum requirements for real estate managers

Real Estate Valuer - Requirments Completion postgraduate studies of property value assessment One-year training Working out 15 valuation reports for different properties State exam – written and oral parts

NoCourses (example)Hours 1 Law 2Spatial economy 3Economic and financial matters 4Technical and natural bases of real estate valuation 5Information systems 6Fundamentals of real estate valuation 7Special valuations (including agricultural and forest properties) 8Economic entity valuation 9Real estate trading and management 10Practical training and seminars Total280 Minimum curriculum requirements for real estate valuers

Potential Gap… Selected UE CountriesReal Estate Agents Property Managers Estate Agents / citizens Property Managers / citizens Denmark ,978,3 France ,141,6 Italy ,736,11 Netherlands ,833,08 Austria ,463,09 Spain ,23,7 Germany ,452,3 Ireland ,50,5 Poland ,933,89 Source: Author calculations based on Annual Report 2007, European Council of Real Estate Professions (CEPI)

Progress in licenses in Poland

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