With the introduction of bachelor and master programs, the German education system at the level of universities and universities of applied sciences has undergone significant changes. This holds also true for undergraduate real estate education in Germany: well-established players had to redesign their programs while prospective students have seen many new competitors with new undergraduate real estate programs appearing on the scene. Students are thus faced with a wide range of options to choose the right course of studies, keeping in mind their prospect to start a successful career in real estate. In this context, this paper aims to analyse the main determinants of success for real estate bachelor programs in Germany. In a comparative approach to the competitive landscape, the study analyses the main elements of well-established as well as more recently initiated undergraduate real estate programs, focussing on an empirical, in-depth case study of the newcomer Hochschule Aschaffenburg where different stakeholders of the program will be interviewed. The goal is to elaborate the main determinants of success for real estate programs to help real estate bachelors to succeed in the industry. Besides, market entry barriers for newcomers to the real estate educational market will be derived.