5 Careers With A Real Estate Master’s Degree
- Real Estate Broker
- Real Estate Investor
- Real Estate Developer
- Property Manager
- Real Estate Asset Manager
A master’s in real estate can help a student achieve a high-ranking real estate career of their dreams. Even when not strictly required, these degrees allow for higher-paying, more prestigious jobs and open doors at some of the largest real estate development companies. Here are five career paths students graduating with a master’s degree in real estate may choose to pursue.
Real Estate Broker
Real estate brokers facilitate the buying and selling of property, both commercial and residential. They are similar to real estate agents and perform many of the same tasks. However, real estate brokers are more highly qualified professionals in their field. More education is commonly required to become a broker, and a license will be required to work as a broker in almost every state. It may also be prudent to obtain REALTOR certification, meaning the real estate professional is a member of the National Association of REALTORS and must adhere to their standards. Brokers can choose to work for themselves or hire other agents to run a real estate business.
Real Estate Investor
A master’s in real estate can prepare students to be successful real estate investors. There is a lot of money to be made in real estate investment, and an advanced education in real estate can provide potential investors with more industry insight and knowledge. Real estate investors can work for themselves, making this a great career option for entrepreneurs who want their business to be real estate-focused. Investors usually buy properties that need work for below market value, fix them up and then either rent them out or resell for a profit. Strong knowledge of the real estate market is needed to become a successful investor.
Real Estate Developer
Another career option is that of a real estate developer. Developers plan and build real estate projects. These projects can be commercial or residential in nature. Developers can also specialize in different types of real estate, such as condominium complexes or planned single-family home communities. Developers must be able to work with clients to ensure the building is completed on time, within budget and to the client’s standards.
Property managers do not generally need a master’s degree. However, this career is still an option and can be a very rewarding one. Property managers manage properties on behalf of corporations, private owners and community organizations. Some tasks they are responsible for handling include selecting tenants, collecting rent, ensuring required maintenance is completed, managing an association’s finances and more. According to Monster, a master’s degree in real estate is very similar to an MBA, and that business knowledge is very useful to property managers. An advanced degree may command a higher salary in this career.
Real Estate Asset Manager
There is a lot of money tied up in real estate, meaning a real estate career that manages property assets is required. This career is an excellent choice for students more interested in the financial side of real estate. Real estate asset managers do not manage the day-to-day needs of a property but are instead concerned about increasing a property’s value from an investment standpoint per Investopedia. These managers can negotiate leases, create and manage budgets, and handle acquisitions and sales. They typically work for a larger company or organization as opposed to individual property owners and assist their clients in diversifying portfolios as well as getting the most out of their property investments.
Many careers in real estate can be highly rewarding as well as extremely lucrative. It is worth it to consider a formal education in real estate. A master’s in real estate can open up the door to an amazing real estate career.