Interested students can pursue a Master of Professional Studies (MPS) in Real Estate on-campus or online. These degree programs can usually be taken full- or part-time and offer hands-on applications in the field, such as on-site real estate case work. Learn more about some of the specific requirements for the program.
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Information for Master of Professional Studies Degree Programs in Real Estate
Some MPS in Real Estate degree programs may include an internship opportunity and/or offer concentration areas, such as international real estate, real estate finance, construction management, real estate development, property, asset and portfolio management and more. Elective courses may vary based on these concentrations, but here we explore some of the common course topics for these degree programs.
Principles of Real Estate
Students in these degree programs generally take an introductory course in real estate early in the program to discuss the basics of the business. These courses train students how to make property evaluations and develop their decision-making skills. Specific topics these courses may address include mortgage financing, the decision-making process in real estate investments, brokerage and leasing, entitlements, site selection, cash flow and more.
Real Estate Finance
Courses in real estate finance examine the theories and techniques in financial economics that are included in the financial decision-making process by using case studies and class discussions. This course may also be taken early on in the program, since many other courses build upon the foundational finance concepts that are discussed. These courses may examine topics in the time value of money, investment returns, equity and debt claims, discounted cash flow model and option pricing models.
Real Estate Markets
Students in these programs generally take a course that covers real estate markets, but some of these courses may take a broad approach to the subject, while others specifically look at the analysis of real estate markets. Broad courses tend to be introductory courses that touch on the different real estate disciplines, including residential, industrial, retail and office, and how to make informed market decisions. Courses in real estate market analysis usually involve urban theory and examine the economic aspects of urbanization.
Real Estate Law
Most programs require a course in real estate law that examines the legal issues with various aspects of the field. These courses may look at issues concerning the ownership, development, acquisition and use of real estate. They often explore legal issues from different perspectives, including that of owners, lenders, investors and developers, and teach students to apply these issues to their decision-making.
These degree programs typically offer a course involving some aspect of construction, whether examining the planning and operations of construction or sustainable development. It is important for real estate students to know some of the basics involved in construction projects, including the development process and the relationships between the parties involved, such as the owners, designers, suppliers and contractors. Courses that address sustainable development do so out of a growing desire in the field for sustainability and how this affects construction.
Common Entrance Requirements
Students applying to an MPS in Real Estate program usually need to hold a bachelor's degree and fill out the necessary application. Most programs require applicants to include their official transcripts, letters of recommendation and a resume with their application. Some degree programs may also require a personal statement that addresses a student's goals and personal qualities and addresses any other specific topics the committee asks for. Also, some programs may require students to include their GRE or GMAT scores, while other programs do not.
MPS in Real Estate degree programs are available in flexible formats and prepare students to become real estate professionals or advance their current careers in the field. Students can usually choose a concentration to further individualize their plan of study.