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What Can I Expect from an Online Master’s in Real Estate Program?
Online programs offer the same rigorous coursework as on-campus programs with the bonus of allowing you to complete courses at home, which is ideal for working professionals. When choosing an online master’s in real estate program, compare the program setup, curriculum, and cost to ensure you find the right option for your needs and goals.
Available concentrations
If you’re primarily interested in a particular aspect of real estate, you should consider attending a program that allows you to focus your studies on that subject. Some of the most popular concentration options for a master’s in real estate include:
Integrated Project Delivery: Covers the preconstruction planning and design phases of property management and construction project management.
Property Management: Reviews how to manage investment properties’ day-to-day finances, maintain maintenance and repairs, and maintain good relations with tenants.
Common degree curriculum
When comparing online master’s in real estate programs, confirm whether each option uses a 100% online or hybrid format. Hybrid programs, which require you to attend some in-person classes, may only be viable if the campus is close to you.
Besides delivery methods, the curriculum for these programs often differs as well. The exact curriculum for an online master’s in real estate will depend on which school you attend and whether you decide to pursue a particular concentration. That said, a few topics are covered in just about every program, such as:
Real Estate Fundamentals: Examine the income-producing components of real estate, including how to make property evaluations and transaction decisions. Key study areas include cash flow, site selection, financing alternatives, entitlements, negotiation and brokerage, and leasing.
Foundations of Real Estate Law: This course reviews the legal issues often involved in real estate transactions, including the impact of federal, state, and local laws during the acquisition, development, financing, and management of real estate properties.
Foundations of Real Estate Finance: In this course, you’ll learn about the basic concepts of real estate finance, including lease structures, financial modeling, the use of debt and mortgages, capitalization rates, and bankruptcy.
Foundations of Real Estate Markets: Learn how to analyze market information to make informed decisions for various property types.
Certification and license preparation
Earning your online master’s in real estate may qualify you to apply for official licensing as a real estate agent or broker. Requirements for licensing vary by state, so contact the real estate commission in your area to learn about the types of education credits, experience, and anything else you may need to sit for a licensing exam.
There are also additional credentials you can earn to help advance your career, such as:
Certified Commercial Investment Member: Through the CCIM’s University Fast Track program, individuals with eligible master’s degrees from allied universities are exempt from some CCIM Designation requirements.
Accredited Buyer’s Representative: After earning your online master’s in real estate, you may be eligible to become an Accredited Buyer’s Representative, a credential offered by the National Association of Realtors.
Program accreditation
Only apply to schools approved by a DOE-recognized regional accrediting organization, such as the New England Commission of Higher Education or Northwest Commission on Colleges and Universities. These organizations evaluate the faculty and curriculum of postsecondary education institutions to ensure they offer students a high-quality academic experience. If your school doesn’t have regional accreditation, you may also be unable to access financial aid or transfer credits to another institution if needed.
Program completion timeframe
Several factors impact how long it takes to earn an online master’s degree in real estate. One of the most significant variables is whether you attend classes full-time or part-time. Full-time students may be able to complete the program in just 18 months, while part-time students may take three years or more.
The format of your program also affects the amount of time it takes to finish. Programs that utilize a cohort learning model, also called synchronous programs, require you to log in and take classes at a preset time. Asynchronous programs are self-paced and allow you to complete coursework on your own schedule, which may allow you to finish your program faster.
Employment Outlook for Master’s in Real Estate Graduates
Real estate agents and brokers must complete real estate courses to become eligible for state licensure, often requiring you to take state-accredited pre-licensing courses. However, some states waive this requirement if you’ve earned a bachelor’s degree in real estate. Earning a master’s degree will help you stand out from other candidates and get hired more quickly. The real estate field is relatively easy to enter, so any advantage you can offer in the job market is significant.
In addition to buying and selling properties, a master’s in real estate can prepare you for a career as a property appraiser or property manager. Though, real estate agent/broker tends to be the most lucrative career path in this field.
Real estate sales agents help clients buy, sell, and rent residential and commercial properties. They may also work with clients looking to buy, sell, or rent industrial, agricultural, or other properties. Real estate agents must work with a broker but often on contract, earning part of the commission on each property sale.
Real estate brokers also help clients buy, sell, and rent residential, commercial, or other types of properties, but they are licensed to manage their own real estate businesses and often have one or more sales agents who work for them. Brokers handle all the business details of running a real estate firm and may also manage properties for a fee.
Property, real estate, and community association managers handle the many aspects of maintaining and leasing residential, commercial, and industrial properties to ensure their clients’ real estate investments earn their expected revenues. They handle the property’s financial operations, including collecting rent and paying bills.
Property appraisers and assessors inspect properties and provide an estimated value for buildings and land, which is required before a property is developed, bought, sold, or given a new mortgage, property tax assessment, or insurance policy.
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Professional organizations
Professional organizations allow you to network with others in the real estate field. While this allows recent graduates to establish vital connections when embarking on their new career path, these connections are helpful no matter where you are in your career. Many organizations offer professional certifications, career development programs, networking events, and journals. Some prominent organizations for real estate professionals include:
National Association of Realtors: NAR’s core purpose is to help its members become more profitable and successful. Members adhere to the association’s strict Code of Ethics and carry the official Realtor® designation. Members must first join a local real estate association, automatically qualifying them for state and national membership. NAR hosts annual conferences and trade expos, publishes professional journals, provides research reports, offers a benefits program, and numerous other members-only benefits.
American Real Estate Society: ARES provides real estate industry professionals and scholars with valuable educational resources. Its benefits include subscriptions to six professional journals, annual meetings and other networking opportunities with industry experts, a comprehensive career center, and access to various research materials.
National Association of Real Estate Brokers: NAREB is open to any real estate professional, not just brokers, and strives to create an environment for the advantageous exchange of ideas concerning the real estate workplace and marketplace. It offers education and training opportunities, annual conferences, members-only discounts on business and personal services, up-to-date information on policy changes, and many other benefits.
Financing Your Online Master’s in Real Estate Degree
Although online programs are usually less expensive than traditional on-campus programs, many students still require financial support. To apply for assistance, always start with the Free Application for Federal Student Aid (FAFSA), which is needed for grants, loans, and other financial aid opportunities offered through the federal government. You may also find awards in the private sector, with some scholarship programs offered exclusively to distance learners or real estate majors.
Student Finance Resources and Guides
After submitting the FAFSA, you’ll need to research to discover all the financing opportunities that may be available to you. The resources listed below will help you better understand your financial aid situation, find scholarships, and save as much money as possible.
Learn more about online degrees, their start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
