After you have completed a master's degree program in real estate, you could be prepared for a career not only as a real estate broker, but a number of other roles. Here are a few of the careers and salaries you could consider with this degree.
Career Options with a Master's in Real Estate
|Job Title||Median Salary (2019)||Job Growth (2018-2028)*|
|Real Estate Broker||$59,720*||7%|
|Real Estate Asset Manager||$58,760* (for all property, real estate, and community association managers)||7% (for all property, real estate, and community association managers)|
|Real Estate Business Development Manager||$96,192 (2020)**||7% (for all property, real estate, and community association managers)|
|Investment Manager||$129,890* (for all financial managers)||16% (for all financial managers)|
Sources: *U.S. Bureau of Labor Statistics, **Payscale.com
Career Information for Graduates of a Master's Program in Real Estate
Career options for graduates of a real estate graduate program primarily revolve around meeting with customers and selling to them. These are the details on a few of the career possibilities you could qualify for.
Real Estate Broker
Real estate brokers are responsible for buying and selling both commercial and residential properties. They may work alone or operate their own real estate office with several real estate sales agents working for them. Brokers are responsible for creating lists of properties that are up for sale, including available features and the locations of the properties. These professionals must also be comfortable preparing binding documents such as contracts and purchase agreements. A master's degree in real estate will prepare graduates to be competitive brokers; individuals must also meet licensure and experience requirements.
Real Estate Asset Manager
Real estate asset managers are responsible for managing real estate holdings for companies and organizations. Often employed by organizations that own/ rent many properties, real estate asset managers can be expected to manage budgets, the negotiation of leases, sales and acquisitions, and other various aspects of real estate. Although not always a requirement, a master's in real estate is often preferred by larger companies, meaning those with this degree stand a better chance at being hired for this career.
Real Estate Business Development Manager
Real estate business development managers coordinate multiple real estate development projects. These professionals recommend improvements to strategies for a real estate company's operation. They also make sure that there are healthy and productive relationships between developers, tenants, and outside contacts. These professionals must be acquainted with reviewing and preparing funding requests, creating contracts, and ensuring accuracy in finances. Those with a master's in real estate are knowledgeable in all aspects of real estate, making them good candidates for this job.
This role supports a real estate team by providing analysis of the investment process, and graduates of a master's in real estate program are well-qualified for this due to their extensive knowledge of real estate values and the significance of investments. Operating in this role requires that individuals create financial models, perform valuation analysis, and initiate risk analysis that all inform the value of the property. Investment Managers expand opportunities to investment. They leverage existing contracts, build networks, and encourage relationships between various stakeholders such as brokers, attorneys, and consultants.
A master's degree program in real estate can prepare you for a role not only as a real estate broker but also as an investment manager or even an real estate business development manager. In all these roles, you will have to comply with the law as you identify value and sell your product to customers.