This article talks about master’s degree programs in real estate management and their education requirements, coursework, job and wage outlook, and continuing education choices.
Master’s Programs in Real Estate Management
Working professionals or students who want to manage real estate projects for community groups, property owners, and government agencies may benefit from enrolling in a Master of Science (M.S.) in Real Estate program. These programs combine instruction on real estate regulations and theory with real-world application including actual immersion in every phase of the industry. Graduates can expect to become adept at initiating a residential or commercial real estate transaction, managing negotiations with clients and closing a transaction. Leading professionals in the real estate industry are among the teachers of some courses.
Admission criteria typically require incoming students to have two years’ professional experience in the field. They may also require an undergraduate degree in the areas of engineering, accounting, architecture, law, business, or a related field.
Coursework is a combination of specific, practical courses related to design, planning, and development issues, and core theoretical courses in real estate management and development. Core coursework may cover topic areas such as:
•Commercial lease analysis
•Negotiation tactics and dispute resolution
•Real estate valuation
•Real estate economics
•Real estate finance
•Principles of real estate taxation
•Managing buildings and operations
•Strategic real estate management
Job and Wage Outlook
In 2010, about 303,900 individuals were employed as real estate, property, and community association managers in the U.S. (U.S. Bureau of Labor Statistics). These comprised self-employed workers (50%) and those working within sub-fields relating to the real estate industry (19%). The best opportunities during the 2010-2020 decade are expected to go to individuals with a degree in business administration or real estate. In May 2012, real estate, property, and community association managers brought in an average annual wage of $52,610.
Continuing Education Choices
Every state may have its licensing requirements for real estate managers; common criteria include the passage of an exam involving state regulations and laws related to real estate. Some prior work experience in the field may also be a requirement. Maintenance of licensure would need continuing education.