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This article provides an overview of the masters in real estate professional studies degree program, some of the subjects and courses that the program covers, and why this degree could help you obtain significant career advancement. It also presents a high-quality masters in real estate professional studies program that can be completed online and that you may want to consider.
What Is a Masters in Real Estate Professional Studies?
A masters in real estate professional studies usually takes between one and two years to complete. The emphasis is on finance, property development, and investing. Some schools offer it as a concentration of the master of business administration (MBA) degree. Specialized skills, such as consulting in real estate, property management, real estate mergers and acquisitions, asset-pricing models, and commercial mortgage-backed securities are also covered.
As usual, schools can set their own admission requirements. However, they often require at least a bachelor’s degree and relevant work experience. A real estate license is also generally required. The curriculum of the program, meanwhile, looks at both practice and theory, immersing students in real-world case studies and examples. Students learn about the basics of real estate, managerial statistics, real estate law, investment property analysis, and real estate appraisal. The program length will vary depending on the school. The shortest programs are usually around 32 credit hours, whereas the longer ones are around 60. Some of the core curriculum courses you are likely to take part in include:
- Market Analysis and Capital Markets
- Real Estate Finance and Law
- Real Estate Risk and Opportunities
- Construction Planning and Operations
- Land Use Regulation
- Negotiation and Dispute Resolution
Why Earn a Masters in Real Estate Professional Studies?
The masters in real estate professional studies helps you to fill a need in the world of real estate. You will obtain advanced financial, negotiation, and analytical skills, enabling you to significantly advance your real estate career. It also helps you to take on new challenges.
SelectLeaders Real Estate Job Network has reported increased activity in the real estate job market. In fact, hiring is now higher than what it was in 2007, particularly in the commercial real estate market. Investment and finance jobs are also on the rise, as are those within real estate technology. Interestingly, this was a sector that didn’t exist in 2007. By obtaining this master’s degree, therefore, you will be able to enter into important partnerships and relationships within the industry as a whole.
The U.S. Bureau of Labor Statistics (BLS) has reported that real estate brokers and sales agents had a median salary of $46,410 per year as of May 2016. However, this is at the high school diploma level. Those with a graduate degree or above are more likely to find themselves in the top 10% of earners, who earn $112,570 per year or more. The BLS has also reported that there will be a 3% increase in demand for these professionals from 2014 to 2024, which is slower than the national average and will translate into some 10,900 new jobs.
Online Option for Masters in Real Estate Professional Studies
If you are interested in obtaining a masters in real estate professional studies, you may want to consider the Master of Professional Studies in Real Estate program offered by the School of Continuing Studies at Georgetown University. This degree has been designed to provide students with tje industry insights and foundational skills they need to be successful in the modern real estate industry. The program looks at active markets within the country and abroad, using practical applications and real-world case studies. The degree is offered by seasoned industry practitioners who immerse students in modern real estate practices, emphasizing leadership development in particular.
The program requires 33 credit hours for completion and is offered both online and on campus. It can therefore be completed either full time or part time from two to five years. The school also offers three entry points per year.
During the program, students work with global real estate professionals, from a range of backgrounds and perspectives. The degree is the largest of its kind in the DC area and one of the largest in the country. Students can build networks through the various associated partner organizations, while also being offered mentoring and internship opportunities to further advance their career.
The program is not an MBA program, which means the focus is solely on real estate. It looks at every element of the industry, including management, construction, sustainability, finance, and development. The program has been designed for those who already work in the industry, and it can be completed alongside professional and personal responsibilities.
Students can also choose from one of four areas of concentration, so that the degree becomes relevant to their personal interests. The concentrations are:
- Real estate development, which focuses on negotiations with government officials, neighbors, property owners, investors, lenders, consultants, and contractors. It looks not just at real estate development, but also at affordable housing, and multifamily, mixed-use, and office developments.
- Global real estate, which focuses on the exchange of best practice ideas around the world. It looks at outbound and inbound investments and students have the opportunity to network with overseas companies, and even to travel there.
- Real estate finance, which focuses on financial analysis, including entrepreneurship, corporate real estate, taxation, portfolio management, capital markets, structured finance, and real estate investment.
- Construction management, which looks at construction and design, contracting methods, rewards and risk management, development, sustainability, construction project management, and more.
As part of the degree, students must complete two core courses: ethics in action and a capstone project. They must also complete five foundation courses:
- Real Estate Fundamentals
- Foundations of Real Estate Law
- Foundations of Real Estate Finance
- Foundations of Real Estate Markets
- Foundations of Real Estate Accounting
Graduates can take on a variety of careers. Many earn six figure incomes, particularly those who take on the following positions:
- Real estate consultant
- Financial service advisor with a real estate specialization
- Land usage or property developer
- Property manager
- Real estate broker
Graduates from these programs are in very high demand, because they understand not just real estate, but also the business and financial elements that surround it. These include regulations and property management, for instance.
Clearly, by earning a masters in real estate professional studies, you have the opportunity to significantly advance your career in real estate. This is a chance to move outside of simply selling homes and properties, and to delve deeper into the fundamental business background of the industry as a whole. You will set yourself apart as a leader in your field, something to take a great deal of personal and professional pride in.
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- Real Estate Brokers and Sales Agents. (2015, Dec. 17). Retrieved from https://www.bls.gov/ooh/sales/real-estate-brokers-and-sales-agents.htm
- Program in Master’s in Real Estate. (n.d.). Retrieved from https://scs.georgetown.edu/programs/71/master-of-professional-studies-in-real-estate/
- An Assessment of the U.S. Job Market in Commercial Real Estate. (n.d.). Retrieved from https://www.selectleaders.com/resources/job-barometer-2016-review-2017-trends