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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.

Frequently Asked Question(s)

Q:Are Real Estate Degrees accredited or not?

A:When searching for real estate degrees, you must check the school's website to make sure that the right accreditation agencies have given the program their seal of approval. Most real estate degrees are either accredited by the Higher Learning Commission of the US or by the state's own accreditation committee or board.

Q:How are real estate online classes conducted?

A:The classes are held online via educational platforms. Students can study through online lectures, video conferencing, notes, presentations, and slide shows. Online classes are more flexible and convenient. Students can study according to their own pace and free time. Online learning has become the new trend in the educational sector, and is making education more accessible.

Q:Will real estate courses online help me become a residential sales consultant?

A:Yes, a real estate course will help you become a residential real estate sales consultant. The course will cover all major areas of the field. You will learn how to identify real estate market trends, types of real estate, different states and their real estate industry, and economics. It is easier to study an online course as there are no time constraints or books needed.

Q:Do I have to get any text book if I plan to take real estate classes online?

A:Getting textbooks for online classes is not necessary. You will be provided notes and reading material online. This is also a reason why online classes have become more popular as students can cut down on textbook costs. However, you can get textbooks if you need extra help or for your personal reading.

Q:In what ways will online real estate courses help me stay within budget?

A:Online courses have proved to be very flexible and affordable. You can easily cut down on extra costs related to textbooks and travelling. In an online course, you can study from your home at any time of the day, according to your convenience. Online programs are suitable for individuals who are working part time or full time.

Q:I want to take online classes for real estate but am unsure about the career prospects. Can you guide me?

A:Career outlook for Real Estate majors is very positive as employment in this industry is expected to grow faster than average. Other than finding full time jobs, professionals with degrees in this concentration can also get part time employment opportunities. Real Estate professionals can serve in sectors like mortgage finance, real property management, real estate insurance or life insurance firms. According to BLS, employment of real estate brokers and sales agents is expected to grow 11 percent from 2010 to 2021, about as fast as the average for all occupations.

Q:What is the general course work taught in real estate programs online?

A:The courses taught in online Real estate programs include topics like Real Estate market analysis, site selection, investment analysis, economics, marketing and more. Students will also get to know about housing and community development policy, Real Estate law, market analysis and public regulation of land use. Students in these programs learn through group projects in addition to written assignments.

Q:I wish to go for online real estate classes. Can you tell me the benefits?

A:The online real estate classes can provide you a lot of flexibility and convenience. Although, the curriculum offered in online classes is similar to on campus programs, learning methods and resources differ. Online classes enable you to make your own study schedule and learn at your own pace. They are also cost effective as students save on many additional costs such as travelling, textbooks, and hostel accommodation.

Q:I came across the real estate strategy course in the online real estate class. Can you tell me what is it about?

A:The real estate strategy course in the online real estate class is an advanced level course which enables students to analyze the different strategies used in real-estate. Students go through several case studies which enable them to understand and critique on the various management strategies related to real estate. In this course students also develop real estate strategies.

Q:I came across international finance as a real estate online course. What can I expect to learn from it?

A:International finance as a real estate online course addresses various financial issues related to real estate. It covers issues of risk management, financing, valuation, and contractual design for firms operating in international markets. It has a significant exposure to emerging markets as well. Students also learn to evaluate risk and cash flows in environments with varying levels of risk.

Q:Can you give me some tips to perform well in the real estate class online?

A:In order to perform well in the real estate class online, you will need focus, consistent efforts, and knowledge of the real estate trends. Real estate courses are practical in nature so it is preferable that you regularly follow the real estate news and read extensively about what is happening in the real estate market now and what happened in the past. Pre-lecture readings, questions from instructors, and discussions with other students will help you gain knowledge and excellent grades.

Q:Why should I choose an accredited institute for an online real estate course?

A:You should prefer an accredited institute for an online real estate course in order to receive quality education and better career opportunities. Accredited courses meet the requirements and standards set by the relevant accrediting agencies, so they are expected to provide quality education to students. Employers also have a preference for graduates from accredited institutions.

Q:What are the different learning resources used in online real estate degree?

A:Various learning resources are used in online real estate degree to enhance the understanding and retention of course material. These resources normally include video lectures, lecture slides, practice exercises with solutions, online notes and readings, case studies, and discussion threads. With the help of these resources, students can study and revise topics at their own pace. They also participate in discussions to enhance their knowledge on the subject.

Q:Can you tell me if the curriculum in the real estate degree online will be different from the on campus one?

A:Usually the same curriculum is followed in the on campus program and the real estate degree online. However, you should prefer an accredited online school as it meets the curriculum and quality standards set by the relevant accrediting agencies. The learning resources and teaching methods differ in online education but there are no major differences in curriculum.

Q:I came across the urban real estate economics as a real estate course online. Can you explain this course?

A:Urban real estate economics is an interesting real estate course online which makes use of economic concepts in analyzing real estate markets, values and trends. The focus of this course is on market dynamics in the U.S. and internationally. It emphasizes on how urban growth and government policies affect urban development and prices of real estate.

Q:Can you tell me the different career paths I can take after real estate online courses?

A:Real estate online courses can open up various career paths for you. However, in order to thrive in the career path you choose you will need to stay updated with real estate knowledge and enhance your analytical skills over time. The different career paths you can take include appraisal and consulting, brokerage and leasing, corporate real estate, property management, mortgage and construction lending, and development.

Q:What are the benefits of real estate online programs?

A:These programs allow you to study real estate sales and management from the convenience of your own home/ workplace and at your pace. Further, these courses are more cost effective as you do not have to incur travelling costs to and from your classes/lectures. It is for these reasons many thousands of students across the US undertake online programs.

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