A Master of Business Administration (MBA) program with a concentration in real estate management is ideal for real estate professionals looking to climb the industry ladder or for business students hoping to start a career in real estate. These programs often combine studies in general business accounting and managerial tactics with courses specifically related to the real estate field, training students to apply advanced business concepts to the sale and maintenance of residential and commercial properties. Students can expect to learn the basics of real estate property appraisals, commercial transactions, residential sales, property development and property management. Many programs also include courses specifically designed to prepare students for the required state Real Estate License Examination.
In order to apply to one of these two-year programs, students must hold a bachelor's degree in business administration, management, real estate, accounting or finance. Some programs also require students to earn a real estate license prior to enrollment.
Master of Business Administration in Real Estate Management
A Master of Business Administration (MBA) in Real Estate Management program trains students to oversee the operations of real estate and property management organizations. The courses found within these programs are typically lecture-based. Possible course topics include:
- Marketing for real estate
- General accounting
- Organizational behavior
- Management decisions
- Legal aspects of real estate
- Real estate finance
- Real estate economics
- Real estate appraisal
- Real estate capital markets
Popular Career Options
An MBA program in real estate property management prepares students to run and manage the day-to-day operations of a real estate firm. However, students with such a degree can also pursue more specialized positions within real estate organizations, which may include:
- Real estate appraiser
- Investment analyzer
- Real estate broker
- Property or corporate asset manager
- Community association manager
Job Outlook and Salary Info
The U.S. Bureau of Labor Statistics (BLS) projected that employment for real estate, property and community association managers would increase 7% from 2018-2028, which was about average. Due to the increase in the elderly populations, job opportunities are expected to be particularly good for real estate professionals with management experience in retirement communities and healthcare facilities. Real estate, property and community association managers earned an average salary of $71,730 per year as of May 2018.
Continuing Education Options
According to the U.S. Bureau of Labor Statistics (www.bls.gov), all states require that real estate managers interested in buying or selling property be licensed. Each state has its own licensure requirements, but most require students to have a postsecondary degree and pass an exam. Some real estate trade associations and professional organizations also provide short-term courses to keep real estate managers up-to-date on new regulations in the industry and help them fulfill periodic requirements for license renewal.
Overall, an MBA with a concentration in real estate property management provides students with the business management skills and real estate expertise that they need for executive positions in the field.