As "faculty" can be singular or plural (see: http://www.merriam-webster.com/dictionary/faculty) both "see its" and "see their" should be accepted, but, like you, I think the plural sounds more natural here.
When collective nouns are involved, US English speakers tend to choose the singular interpretation and British English speakers choose the plural as discussed in this usage note: http://www.oxforddictionaries.com/definition/english/collective-noun
It can also be the place where the faculty teaches (Would you like a tour of the faculties? - Yes, different than facilities). :)
However, if you brought together faculty from each of several schools, you would have quite a few faculties.
Is there a difference in meaning between:
- Os professores veem seus alunos.
- Os professores olham para os alunos.