Once considered a profession learned on the job, real estate is now a popular field of study. Real estate schools help students to acquire the skills needed to sell, market, lease, and manage commercial and residential properties. A successful real estate agent or property manager must have a diverse skill set that includes a solid knowledge of subjects like finance, accounting, and real estate law. If you would like to dive into the field of real estate or advance your current career, learn more about real estate degrees.
Real Estate Degree Levels
Real estate and property management schools offer certificates, as well as degrees at the associate’s, bachelor’s, master’s, and doctoral level.
A high school diploma may be enough to get your foot in the door at some real estate companies, but a growing number of employers prefer hiring applicants who have at least an associate’s or bachelor’s degree as the field becomes more competitive. Undergraduate programs typically require students to have a high school diploma or GED. Associate’s degrees take two year to complete, whereas bachelor’s programs take four years.
Although a bachelor’s degree is typically required in order to pursue master’s or doctoral degrees in real estate, students with various backgrounds can enroll. A Master of Arts (MA) or Master of Science (MS) can help you advance your current real estate career or transition you into the field. Another option is to pursue a Master of Business Administration (MBA) with a concentration in real estate. An MBA may qualify you for leadership positions in the industry. Typically, master’s degrees will take two years to complete.
A doctoral degree takes three to five years to complete and is appropriate for people who want to work in research or teach at the university level. Some doctoral programs will require master’s degrees.
Curriculum of Real Estate & Property Management Programs
Real estate and property management programs equip you with knowledge of all the important facets of the profession, including building maintenance, accounting, marketing, leasing, and investment analysis. Some concentrations that real estate students might pursue are hospitality property management, commercial property, and residential property.
Real Estate Courses
Your real estate courses may discuss:
- Real estate fundamentals
- Real estate economics
- Real estate sales practice
- Property management
- Real estate appraisals
- Real estate marketing
General Education Courses
If you start working towards a real estate or property management degree at the associate’s or bachelor’s level, you will likely also be required to complete general education courses, such as English composition, speech, and psychology. In addition, you may be required to take courses in risk management and leadership.
Licensing Exam and Internships
In order to work as a real estate broker and sales agent in all states and the District of Columbia, candidates must complete a number of real estate courses and pass a licensing exam. The best way to assess career prospects in real estate is to complete internships while pursuing your degree.
Real Estate Career Opportunities
Types of Jobs
Real estate and property management is a fascinating industry that encompasses a number of areas, including the administration, operation, marketing, and maintenance of property, as well as mortgage lending, development, brokering, and equity investment. Possible job opportunities include:
- Property manager
- Real estate broker
- Investment analyst
- Real estate sales agent
- Real estate credit underwriter
Positions for real estate agents and brokers are expected to grow at a rate of 11% from 2012 to 2020, which is about as fast as average. As the real estate market improves with the economy, it will reflect a growth in employment. Property, real estate, and community manager positions should grow by 12%, as it is increasingly recognized by property owners that property management firms can help to increase profit. However, real estate appraisal positions are expected to grow at a slower than average growth of 6%, due to the increased efficiency of technology, which lessens the need for employees.
Many brokers and sales agents are self-employed and earn most of their income from commissions on sales. In 2012, the median annual salary for real estate positions were as follows:
- Real estate sales agents– $39,140
- Appraisers and assessors of real estate– $49,540
- Property, real estate, and community association managers– $52,610
- Real estate brokers– $58,350
Joining a Real Estate Program
The real estate and property management field offers a wide range of career prospects. If you want to gain the practical and educational base needed to build a successful career in real estate, request information from real estate schools today.