National Challenge
Win the Challenge. Take the Cash. Build Your Network.
Established in 2002, the National Real Estate Challenge is a premier case-based competition hosted each fall in Austin, Texas. Teams of graduate students from top business schools across the U.S. and Canada are invited to compete for $25,000 in cash prizes.
Invitation-Only Competition
Participation is by invitation only. Schools selected to compete represent some of the most prestigious real estate graduate programs in North America. Teams analyze a real, recently closed transaction provided by a global real estate firm and present their recommendations to a panel of senior industry leaders.
What You’ll Gain
  • $25,000 in cash prizes for the top four teams
  • Exposure to nationally recognized sponsors and executive judges
  • Direct networking with top real estate employers
  • Inclusion in the Challenge resume book
  • National recognition and a standout resume credential

Past Challenge Winners

2024

1st Place: The University of Texas, McCombs School of Business

2nd Place: MIT

3rd Place: Vanderbilt University

4th Place: Georgetown University, McDonough School of Business

Honorable Mentions: Columbia Business School, University of Wisconsin, Madison, Northwestern University, Kellogg School of Management, University of Chicago, and University of California, Berkeley

2023

1st Place: University of North Carolina at Chapel Hill

2nd Place: University of California, Los Angeles (UCLA)

3rd Place: University of Virginia

4th Place: Cornell University

Honorable Mentions: Notre Dame, Kellogg School of Management, MIT, University of Chicago

2022

1st Place: Massachusetts Institute of Technology (MIT)

2nd Place: University of California, Berkeley

3rd Place: University of California, Los Angeles (UCLA)

4th Place: Georgetown University

Honorable Mentions: Columbia University, University of Wisconsin-Madison, University of North Carolina at Chapel Hill, and University of Southern California

2021

1st Place: University of California, Berkeley

2nd Place: University of Wisconsin

3rd Place: Georgetown University

4th Place: University of Michigan

2020

1st Place: Northwestern University

2nd Place: University of North Carolina

3rd Place: Georgetown University

4th Place: University of California, Berkeley

2019

1st Place: University of California, Berkeley

2nd Place: Booth School of Business, University of Chicago

3rd Place: Georgetown University

4th Place: University of Pennsylvania, Wharton

2018

1st Place: University of California, Berkeley

2nd Place: UCLA, Anderson

3rd Place: University of Southern California (USC)

4th Place: University of Michigan

2017

1st Place: Columbia University

2nd Place: Northwestern University

3rd Place: UCLA, Anderson

4th Place: University of Chicago

2016

1st Place: University of Texas at Austin

2nd Place: Northwestern University

3rd Place: Columbia University

4th Place: University of North Carolina at Chapel Hill

Past NREC Sponsors
Celebrating 20 years of National Real Estate Challenges hosted right here in Austin, Texas. Prestigious universities from the US and Canada are invited to participate in our annual graduate student real estate challenge. Thanks to the generosity of our sponsors the winning teams receive cash prizes.
Thank You to Our Sponsors

This event is made possible thanks to the generous support of our sponsors and partners.