Top 10 Colleges For Real Estate Degree Programs for 2019
Regardless of where you live, a career in real estate requires substantial knowledge of the real estate market and finances, as well as a familiarity with zoning and tax laws, insurance, and mortgages and banking. Careers in a complex field like real estate demand a thorough understanding of finance, analytical thinking, communication, and collaboration skills, which is why online real estate degree programs emphasize crucial business and finance concepts for real world application in the field. With the housing market not only stabilized since the Great Recession, but reaching record highs in 2015, earning an online real estate degree can be a bold move toward starting a career in the industry.
Graduates of real estate programs are highly sought after by employers for their negotiations, finance, and valuation skills, especially within the fastest-growing housing markets, currently in Colorado , New York , Illinois , Florida and West Virginia . Depending on their specialty, real estate professionals may work in a variety of business, finance, and investment-related fields.
Featured Online Programs
Though housing markets fluctuate according to economic health and vary from state to state, earning a real estate degree online remains a lucrative prospect for aspiring professionals anywhere who are interested in a dynamic career. The field of real estate is expected to grow slowly but steadily through 2024, with millennials, the country's largest demographic group, entering prime working age and becoming heads of their own households over the next decade. Increased investment opportunities are also expected to affect employment for online real estate degree holders in the coming years. Businesses and individuals will likely seek out qualified real estate professionals to help them benefit from the advantages of the current economic market, including low interest rates and property prices. Like employers in the field, clients prefer candidates who earned their real estate degree online from a top ranked college or university, favoring a trained professional whose qualifications they can trust.
Below is the list of the top ranked real estate programs in the nation:
Top 10 Colleges For Real Estate Degree Programs for 2019
The University of Pennsylvania, a world-renowned research institution offering innovative interdisciplinary educational programs, has earned its place among the Ivy League institutions. Established in 1881, Penn's Wharton School of Business was the first collegiate business school to become an international leader in business education. Wharton is not only the country's largest business school, but it also boasts the most published faculty members. Students enrolled at Wharton School of Business train to become leaders in their respective fields, prepared to create positive change in the world. The business curriculum, developed in collaboration with business experts from around the globe, prepares students to become successful professionals in a complex and dynamic global market. Wharton incorporates the latest research in business education with experiential learning, the latest technology, and state-of-the-art facilities.
The Wharton School of Business at the University of Pennsylvania offers a real estate concentration for both undergraduate and MBA students. Undergraduate curriculum in real estate provides a comprehensive, fundamental education combining business, finance, and liberal arts. The real estate concentration requires students to complete a seminar course and entrepreneurship, as well as multiple electives related to the major. A core course in real estate investment: analysis and financing is required. Students may choose three electives from topics including real estate law, urban real estate economics, international real estate comparisons, and more. Students in the real estate concentration of the MBA program will focus on courses in housing markets, real estate investments, and advanced real estate investment analysis, among other topics.
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Is an Online Real Estate Program Right for Me?
Commonly promoted as convenient, flexible, and accessible, online programs allow students to earn their degree from home while saving money by eliminating commuting costs. Online programs frequently offer distance learning discounts, such as flat tuition rates for out-of-state students. An online real estate degree features the same rigorous content as on-campus degrees, and students acquire the knowledge and skills needed to gain employment in the real estate industry.
Aspiring and current real estate professionals can benefit from real estate degree and certificate programs that emphasize training in the latest practices, including contemporary appraisal methods and the implementation of data analysis software for property risk management. An online real estate college promotes student engagement through interactive tools such as discussion threads, video conferencing, and virtual group projects.
Although an online degree offers many advantages to traditional face-to-face programs, not everyone thrives in this environment. The best candidates for an online real estate program possess self-discipline, the ability to engage in self-directed learning, and strong time-management skills. Online programs require as much time and dedication as on-campus programs, and students complete ongoing assignments with deadlines throughout the semester.
In addition to typing skills and computer application knowledge, successful online students are effective communicators and rely on nonverbal communication skills to convey ideas and concerns. Online students spend several hours per week completing course assignments, including reading materials, responding to discussion posts, and taking online exams. Many online programs feature online readiness quizzes to help students determine their level of self-motivation and commitment prior to enrolling.
How to Choose a Real Estate Program
Once students decide to pursue a real estate degree, they select a program that aligns with their academic and vocational goals. Many factors influence a student's program choice, such as location and available concentrations. A program that offers specializations appeals to students with specific career interests, such as commercial real estate or real estate finance. Students with time constraints can opt for an accelerated program with flexible completion options. Most programs allow students to enroll part or full time, although some programs require students to enroll in a specified number of credits per semester.
A student's primary consideration is often cost. In-state tuition prices are typically lower than out-of-state tuition prices. Students wishing to earn their degree locally find that completing the first two years of their education at a nearby community college saves money. The type of real estate degree a student pursues impacts both cost and completion time. Associate degrees typically take full-time students two years to complete, while a bachelor's degree takes four years.
Students should also consider the course delivery format. Online programs allow students to earn their degree while juggling prior commitments. On-campus programs provide face-to-face interactions, but online programs promote greater accessibility, allowing students to earn their degrees from schools across the country without relocating. Many online programs feature engaging learning strategies that allow students to interact with peers and instructors through live video conferencing. Most online programs allow students to complete fieldwork requirements close to home.
Types of Real Estate Degrees
Although a real estate degree is not required for a career as a real estate sales agent, earning a certificate or degree gives professionals a leg up in this competitive industry. Professionals with a 20-credit certificate in real estate share comparable incomes with those holding a 60-credit associate degree. A significant jump in pay occurs between associate and bachelor's degree attainment, with bachelor's-level professionals earning approximately $17,000 more annually. While a real estate bachelor's degree consists of double the credits as an associate degree, the extended time in school translates to higher earnings.
A graduate certificate in real estate equips professionals with diverse academic backgrounds with the knowledge necessary to lead a real estate career. This brief program generally consists of 12-20 credits. Pursuing a graduate degree in real estate provides the most career opportunities. A 36-credit MBA in real estate takes roughly two years to complete, and professionals with this credential earn an average of $72,120 annually.
Average Salary for Entry-Level Professionals by Degree Level
| Certificate, Real Estate | $36,921 |
|---|---|
| Associate Degree, Real Estate | $37,500 |
| Bachelor's Degree, Real Estate | $54,803 |
| Graduate Certificate, Real Estate | $45,000 |
| Master of Business Administration (MBA), Real Estate | $72,120 |
Source: PayScale
What Will I Learn in an Online Real Estate Program?
From appraisal techniques to principles of property management, a real estate degree encompasses many topics that prepare students for successful careers. While colleges with real estate degrees adhere to similar professional training standards, courses differ by program. The following sample curriculum illustrates common courses real estate students take.
How to Start a Career in Real Estate
Though each state has its own education requirements for professionals pursuing real estate careers, graduates of an online real estate program may have the greatest access to advanced opportunities in their local market. Many aspiring real estate professionals set their sights on becoming a real estate broker or sales agent, encompassing a unique combination of skills in sales, negotiation, finance, and investment concepts. Those with an online real estate degree in a particular specialization may be eligible for positions that focus on acute aspects of home appraisals and assessments or real estate inspection.
Those with an online master's in real estate development or other advanced degrees may be qualified for top positions or more sought-after listings as a real estate agent. Real estate professionals across the U.S. must have current licensure in accordance with local laws to practice in their area. Some states may also require a degree as a condition of licensure.
What Can I Do With a Real Estate Degree?
A real estate major acquires the knowledge and skills needed to pursue several careers in the property industry. The following table illustrates potential occupations graduates pursue with a real estate degree. These professionals possess organizational and problem-solving skills, and rely on their ability to interpret business jargon and communicate clearly to clients. Interpersonal skills allow them to establish clientele and develop working relationships with real estate attorneys, mortgage lenders, and home inspection agencies.
Average Salary for Real Estate Careers
Assistant Property Manager
Average Pay: $41,902
The first point of contact between tenants and a rental corporation, assistant property managers communicate with renters on issues such as lease agreements and billing, and also manage the daily operations of rental properties. Common job duties include scheduling repairs and inspections, showing available properties, and running credit checks on potential tenants.
Client Services Specialist
Average Pay: $45,656
These professionals typically work alongside project managers to meet client needs. They organize client records, create training manuals, and promote positive client relationships through frequent contact. Client services specialists delineate project tasks and monitor supply inventories.
Senior Asset Manager
Average Pay: $91,238
A senior asset manager oversees all items of value for an individual or corporation. Job duties include executing asset management programs and writing reports on asset performance. Professionals with five or fewer years of experience earn approximately $84,000 annually, and with just 10 years of work experience, this figure jumps to $93,000.
Real Estate Sales Agent
Average Pay: $43,283
Real estate sales agents show houses to potential buyers and assist property sellers. When working with sellers, real estate agents recommend selling prices and identify good offers. They research comparable market prices to inform recommendations. With experience, potential career paths lead to property management or real estate brokerage.
Commercial Property Manager
Average Pay: $61,145
These professionals ensure the daily operations and continued prosperity of commercial properties. They document property data, including the number of tenants, facility maintenance, and rental agreements. Commercial property managers position themselves in a field that offers pay increases as much as 38% with 10 to 20 years of work experience.
To determine the best real estate degree programs, we looked at the most important factors prospective students, mainly common predictors of future success and a school's commitment to online programs. This boils down to admissions rate, student loan default rate, retention rate, graduation rate, and the percent of students enrolled in online classes. All data points are taken from information provided by colleges and universities to the National Center for Education Statistics.
Each factor is weighted evenly in order to give an objective view and determine the top real estate degree programs. To calculate our rankings, we looked at a school's ranking when organized by a single factor, and then averaged each category's ranking to find an overall score: Admissions Rate (20%) + Default Rate (20%) + Retention Rate (20%) + Graduation Rate (20%) + Percent of Students Enrolled in Online Classes (20%) = Final score.