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History[ edit ] Historically, graduate level coursework in real estate was limited to a major or minor in business, or training in architecture and urban planning schools.
While Business school programs might emphasize the business side of real estate, MBA students typically lack adequate understanding of real estate principles and processes.
Over the last several decades, the real estate industry has matured to one with great complexity and an increasingly institutional ownership structure. The increased complexity of the industry created a demand for practitioners who possessed a comprehensive knowledge of real estate beyond that of traditional MBA generalists.
Students seemed to be acting on the notion that it's a temporary downturn and graduate school is a good place for the moment. To deal with the complexity of the field and its far-reaching effects, today's industry professionals require advanced training to prepare them to operate in increasingly technical and interrelated areas.
Wharton's real estate program, for example, takes advantage of being housed in one of the top business schools in the United States and having some of the top real estate professionals in the world as advisers.
MBA programs with concentrations in real estate may be ranked according to organizations such as U. Real estate education has increased in recent years to fill the demand for well-educated practitioners in the industry.
However, there has been a great deal of debate on what elements should be an essential part of a graduate program in order to help students succeed in the industry.
Rankings have been conducted by editorial board representation of faculty members at university real estate departments, however, these results prove to be ineffective in judging the program as a whole. Many graduate programs utilize adjunct professors or guest speakers from the industry, which do not sit on editorial boards of scholarly real estate journals.
The best method to evaluate the various degree programs is through due diligence by individual applicants, including a review of each program's curriculum and how it applies to the students academic and career goals. While there are no formal rankings for graduate real estate education, and programs are subject to greater locational impact factors than are MBA programs due to regional and local policy influence.
The Urban Land Institute is a non-profit research and education organization with membership by real estate developers, urban planners, architects and allied professionals.
Each year graduate-level students form their own multidisciplinary teams from real estate, urban planning and business schools and have two weeks to devise a comprehensive design and development program for a real, large-scale site full of challenges and opportunities.
Submissions will consist of boards that include drawings, site plans, tables, and a myriad of market-feasible financial data.Drafting Quality Letters from Scratch is a Time Burner!
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