Degree Overview: Master of Business Administration (M.B.A.) Degree in Real Estate Property ManagementMajors Overview November 27, 2015
Students in Master of Business Administration (M.B.A.) degree programs in Real Estate Property Management will be ready to oversee the operations of property management and real estate organizations. This article talks about these degree programs and their education requirements, coursework, career choices, job and wage outlook, and continuing education choices.
Master of Business Administration (M.B.A.) Programs in Real Estate Property Management
Real estate professionals with an interest in career enhancement in the field as well as business students wishing to pursue a career in real estate can benefit from a 2-year MBA program in real estate management. Enrollees learn the fundamentals of commercial transactions, real estate property appraisals, property development, residential sales, and property management.
Coursework in an MBA program in Real Estate Management is often a combination of classes in managerial tactics and general business accounting with classes specifically pertinent to the real estate industry. Students learn about ways of applying advanced business knowledge to the sales and maintenance of commercial and residential properties. Additionally, many schools offering the programs cover coursework devised to train students for their state Real Estate License Exam, a mandatory requirement for those wishing to engage in the purchase and sale of properties.
Admission criteria typically require incoming students to hold a baccalaureate degree in management, business administration, accounting, real estate, or finance. There is no compulsion for students to hold a real estate license as some schools devise their graduate programs to train students to take the licensure exam after they graduate.
Program coursework typically comprises classroom instruction covering topic areas ranging from marketing to finance as related to real estate. Core coursework may cover topic areas such as:
•Legal aspects of real estate
•Real estate principles
•Real estate capital markets
•Real estate appraisal
•Real estate economics
•Real estate finance
Graduates may seek careers running and managing the day-to-day operations of real estate firms. However, they may also aspire to play more specialized roles within real estate organizations, such as that of a:
•Corporate asset manager
•Real estate broker
•Real estate appraiser
•Community association manager
Job and Wage Outlook
Over the 2012 – 2022 decade, a 12% job growth has been predicted for real estate, property and community association management positions (U.S. Bureau of Labor Statistics). The best job prospects are available to individuals who hold experience working with elderly members of the population and related degrees. In May 2012, real estate, property and community association managers brought in an average annual wage of $52,610 (BLS).
Continuing Education Choices
Program graduates who seek continuing education may enroll in short-term courses offered by various professional organizations and some real estate trade associations. These programs are devised to keep them abreast of new regulations in the industry. In all states, real estate managers interested in purchasing or selling property are required to obtain state licensure (BLS). Licensure norms vary by state; common requirements include the passage of a qualifying exam to augment some form of postsecondary education.