Real Estate Degree

 Real estate degrees prepare students to become future leaders and professionals within the diverse real estate industry The dynamic nature of today’s real estate environment requires students to have comprehensive and in-depth knowledge in the field. Real estate degrees generally include a number of required courses and specialty tracks such as mortgage banking, real investment advising, and real estate development.

Learning Outcomes

Students acquire a variety of skills in a real estate degree such as analytical skills, technical competence to conduct market analyses, and the knowledge of tools necessary to work in the multifaceted real estate industry. Real estate degrees help students in making management decisions concerning real estate, including the application of new economic concepts and latest analytical tools to different real estate functions.

Degree Levels

Colleges and universities offer real estate programs at various levels to meet different educational and career requirements of students. The following programs are generally offered in the field.

Associate degree

An associate’s degree normally takes two years to complete and the cost of the degree is less than a bachelor’s degree.  If students select an associate’s degree with transferable credits, they can enroll in a bachelor’s degree program later on as well. With an associate’s degree in real estate, students can acquire entry level positions in the field.

Bachelor’s degree

A bachelor’s degree in real estate is normally a four year degree program, which can lead to a better job and a higher salary, compared to an associate’s degree. Employers have a preference for candidates having an accredited bachelor’s degree in real estate. Besides, it is also a step for students who want to go for higher education in the field.

Master’s Degree

A bachelor’s degree is the pre-requisite for a master’s degree in real estate. Most master’s degree programs take two years to complete, but the accelerated programs can be completed in as little as one year. This degree program can lead to better jobs and more earning potential, as individuals holding a master’s degree are eligible for advanced opportunities.

Doctorate Degree

Students can acquire a doctorate degree for a variety of reasons such as greater earning potential, advanced and prestigious career options, and interest in research. Although, the duration of doctorate programs may vary from one institute to another, students need at least two years of full time study to complete the degree. In certain cases, the degree may take as long as seven to eight years to complete.
 

Core Courses

Following are some of the compulsory courses that are a part of a real estate degree program. These courses enable students to understand the fundamentals of real estate and develop essential skills to excel in the field.

Business Organization and Management

This course covers different aspects of competent management, including their processes and problems. Topics included in the course are performance standards, productivity, management structure, and planning. Students learn about organization, staffing, strategies, decision making, leadership, and social responsibility. Course also includes methods for increasing motivation and achieving high performance.

Market Analysis in Real Estate

This course provides students with the opportunity to study the impact of national, regional, and local factors on specific real estate markets.  They also learn important factors such as economic change, social attitudes, changing laws and regulations, and individual preferences. Course also includes modeling techniques to estimate demand and supply in specific markets.

Comparative Real Estate Markets in a Global Perspective

This course provides students with a comparison of urban and rural real estate markets in Asia, Europe, and Latin America. Students explore different factors that have an impact on real estate economies in these regions, by studying a variety of real estate models.

Real Estate Principles

With the course, students get familiar with the concepts, terminology, and key practices of real estate. The course includes real estate law, marketing, appraisal, management, brokerage, investment analysis, finance, and taxation.

Real Estate Accounting and Taxation

This course covers accounting concepts, rules, regulations, and reporting requirements for income producing properties. Students also acquire knowledge about the tax techniques to gain an understanding of real estate investments.

Real Estate Valuation

The course helps students gain an understanding of real estate valuation concepts and their practical applications. Topics covered in the course include the basics of valuation, property inspections, site analysis, and different ways of comparing cost, income, and sales.

Real Estate Law

The course focuses on the legal issues that arise in real estate. Students acquire an understanding of topics such real property law, issues in site acquisition, land-use regulations, financial instruments, partnership corporations, and limited liability companies.

Careers

Real estate is considered to be a dynamic business sector that plays an important role in the economy. It is now moving from local to national and global economies. There is a high demand for real estate experts who not only have basic real estate training, but also good business and financial skills.

Following are some of the real estate career opportunities:

• Lending officers and mortgage analysts are required by financial institutions such as insurance, banks, and mortgage bankers.


• Real estate appraisers are needed by investors, lenders, developers, courts of law, and public land use agencies.


• Real estate brokers act as middlemen between buyers and sellers of real estate. They help in all types of property transactions and usually have a specialty in a certain real estate field.


• Property and asset managers have the responsibility to effectively run the operations of existing properties like building, shopping centers, residential apartments, and industrial parks.


• Investment counselors work as special advisors for investors in both public and private sectors. They analyze market information and help their clients make prudent real estate investment decisions.


• Real estate developers work on the planning and development of real estate projects. Their major tasks include selecting sites, preparing plans, acquiring government consent, arranging finances, contracting with construction managers, and marketing these projects.


• Corporate real estate managers are responsible for acquiring, operating, and disposing real estate assets of corporations like retail chains, industrial companies, and major utilities.

According to the Bureau of Labor Statistics, Property, Real Estate and Community Association Managers earned $ 52,610 in 2012. The demand for these professionals is expected to increase by 12% over the next few years.

States with the highest employment level in this occupation:

State	Employment	Employment per thousand jobs	Location quotient	Hourly mean wage	Annual mean wage
California	1660	0.11	1.26	18.13	37720
Florida	1130	0.14	1.68	17.97	37370
Illinois	960	0.16	1.92	17.9	37240
Texas	760	0.07	0.78	16.62	34570
New York	650	0.07	0.85	20.12	41840

Source: bls.gov

How long does it take to get a real estate degree?

An Associate Degree in Real Estate would take about two years, a bachelor’s degree would take four years and a master’s degree would take one or two years to complete. Many who intend to get into this field take online real estate programs, which allow them to continue their jobs while they get an education.

What are the requirements to complete a real estate degree?

The requirements to complete a real estate degree would depend on the program you have chosen. For instance, a Bachelor of Science in Real Estate would require you to complete courses such as real estate law, insurance, taxation, property appraisals, etc. Master’s degrees in real estate would have more specialized course structures with focus on specialty areas like real estate development or sustainable real estate.

How much can I make with a real estate degree?

As per the US Bureau of Labor Statistics, $62,060 was the annual mean salary of real estate sales agents in the US in 2019. Their annual median income was $48,930. New York was the highest paying state for this occupation, paying a mean annual wage of $111,800. As for real estate brokers, their annual mean salary in 2019 was $81,450 and their median annual wage was $59,720 in the year 2019. For real estate brokers, the highest paying state in the US was New Mexico, with an annual mean income of $112,860.

Job Outlook

Projections by the US Bureau of Labor Statistics show that real estate state agents will experience a 2% employment growth between 2019 and 2029, while the job growth for real estate brokers will be 3% for the same period.