Real Estate MBA Degrees Online
If you love the idea of making your own hours and working with scores of different people, then you might want to look into getting your mba in real estate.
Why Get An MBA In Real Estate?
With the current housing bust and recession going on, you might be wondering why getting an mba in real estate is a good idea. Well, we’re not going to gloss over the truth here. The market is definitely in an upheaval the likes it’s never seen before.
So, does this mean that you should skip getting a real estate mba?
No. Hear us out here: we’re not trying to be foolishly optimistic. But the simple fact is that everything that goes up must come down, and everything that comes down will eventually go back up again. Yes, the housing market is in the doldrums right now. But when the market hits bottom, people are going to start snatching up all those incredible deals, and the real estate industry will improve.
It’s happened before, and it will happen again. Which is why getting a real estate mba is still a good idea. Get one now, and you’ll very likely be in a good position to profit when the market does start going back up again.
And in spite of the slowdown, the National Association of Realtors reported that the industry contributed nearly 15% to overall economic activity, or $2.1 trillion. So yes, people are still buying and selling homes.
Real Estate MBA Programs: What You’ll Learn
Your real estate mba curriculum is going to start by giving you one year’s worth of solid business skills. You’ll focus on the basics here: finance, accounting, marketing, and basic operations. You’ll also be taking several management and leadership classes, as well as some on team psychology and decision-making.
The second year in your real estate mba program is where you’ll get the specialized courses for your career. Some of the courses you might see during this time include:
- Contemporary Real Estate Topics
- Real Estate and Urban Land Economics
- Real Estate Valuation and Feasibility Analysis
- International Real Estate
- Real Estate Investing: Analysis and Forecasting
- Real Estate Law
- Commercial Real Estate
- Advanced Real Estate Management
Careers With An MBA In Real Estate
Most professionals who graduate with an mba in real estate go on to work for a larger agency, buying and selling commercial and residential real estate. Still others have gone on to work in investment analysis, consulting, financing, brokerage, appraisal, corporate asset management, and development.
Did you know that many of the wealthiest people in the world got that way from buying and selling real estate? One good example is Donald Trump. His real estate investments have earned him enough to buy several small countries if he wanted to.
If you have a knack for this field and you get along well with people, then you could be positioned to make a really amazing salary in real estate.
It’s hard to say just how much you can earn in this field, simply because all agents work on commission.
The National Association of Realtors reports that the average income for a realtor is $63,000. But again, this is going to depend largely upon your own efforts. There are some agents who are barely scraping by, and others who are earning millions.
Your salary will also be impacted by where you live. Agents that live in Omaha, Nebraska are going to earn far less than an agent living in New York or Los Angeles.
One perk to getting a real estate mba that shouldn’t be overlooked is that you might be a reduced rate on your own mortgage when you’re ready to buy a home. MSN Money reports that many banks and real estate companies offer their employees assistance when it comes time to buy their home, either through a reduced interest rate, or help with closing costs.
That type of assistance can add up fast so don’t overlook this when looking at your salary compensation. It’s also important to realize that most real estate professionals make their own hours. They spend very little time working in an actual “office”, and this diversity and “on the go” day keeps the work interesting and varied.
