Real Estate Degrees
Learn which degree you'll need for a successful real estate career.
People enter the real estate field with diverse educational backgrounds and varied career goals. Some are at the beginning of their careers while others are pursuing the challenge of a mid-life career change.
Whichever road you're on, your chances of success are directly related to your level of preparation and commitment. This is one career that really requires self-motivation, and you will be way ahead of the competition if you've got solid knowledge and education in your toolkit. Here are some important areas of education to consider.
Real Estate Degree Options
Bachelor's Degree
Whether you are interested in development, finance, property management or brokerage, a real estate degree, usually a bachelor's degree, is usually considered a crucial first step in a real estate career. Real estate agents and brokers must have at least a high school diploma, but more companies are choosing to hire college graduates as the financial transactions and responsibilities surrounding real estate sales have become increasingly complex. And if you want to advance into other areas such as corporate real estate, a bachelor's degree becomes even more important. Colleges and universities offer several business options for potential real estate professionals, including:
- Real Estate
- Business Administration
- Marketing
- Finance
In addition to the core finance and economics classes you'll take with these degree programs, you should seek out courses that cover real estate law topics, land-use planning, ethics and environmental issues. Marketing and finance courses are especially important if you are interested in managing or owning a real estate company. Other courses to consider include statistics and English.
Appraisers and assessors are not required to hold a degree in order to practice, but as of 2008, all assessors and appraisers who need a license in order to practice will need to have their bachelor's degree or equivalent in credit hours. The most popular areas to earn a bachelor's degree are economics, finance or real estate. Experience is also mandatory in order to obtain a license or certification.
Property managers generally have a bachelor's degree, and the current trend, according to the Bureau of Labor Statistics, suggests that employers are increasingly hiring college graduates with a bachelor's or master's degree in business administration, accounting, finance, real estate or public administration to fill these jobs.
Master of Business Administration (MBA)
Most employers look for real estate professionals who have a high level of expertise in handling the financial and legal complexities that accompany real estate transactions. For those who are interested in careers in real estate development or finance or in corporate real estate, earning an MBA will sharpen your business skills and provide you with the educational credentials that will increase your appeal to potential employers. For those looking to advance their careers into management, an MBA is a must. Career changers who may need to work full time while attending school will find that an online MBA degree program is a smart option due to its inherent flexibility.
Master's Degree in Real Estate Development (MRED)
A successful developer will earn either a Master's Degree in Real Estate Development (MRED) or a Master of Science in Real Estate Development (MSRED). This advanced and highly specialized degree is a necessity in a career that balances many components and is comprised of vision as well as the ability to work within a complex system of governance. A real estate developer must deal with community groups, government agencies, property owners, architects, planners, construction professionals and the media in order to reap the rewards of this highly-demanding profession and its far-reaching effects.
