Masters in real estate for career advancement?

[Anonymous]

I’ve been working in mid senior level roles as a corporate real estate strategic planner for nearly a decade. I’m in my mid-40s and want to advance to the next level but I don’t yet have the skill set. Looking to increase knowledge and finance, portfolio management, market analysis, Etc. Would a masters in real estate be worth it? If not what are some other options?

[Anonymous]

Just out of curiosity, what subjects do you have to study?

[Anonymous]

It sounds like you want an mba

[Anonymous]

Anonymous wrote:Just out of curiosity, what subjects do you have to study?

I’ve listed some courses from a program I’m considering:
- Real Estate Finance and Investment
- Principles and Practice of Real Property Development
- Tax and Accounting for Real Property Developers
- Market Analysis for Real Property Development
- Negotiating Agreements & Resolving Conflicts when Developing Real Property
- Retail Real Estate Development and Asset Management

[Anonymous]

Anonymous wrote:It sounds like you want an mba

I considered an MBA too but thought something specifically targeted to real estate would make more sense.

[Anonymous]

There are professional certs that are viewed more favorably than an MBA for a kid career professional. There are a ton of niches in commercial and government real estate. Figure out specifically what your knowledge gaps are and find people who work in those niches. The sharpest people I've met in the game don't have educational backgrounds in real estate. They just have really good networks and a ton of experience.

MIT offers interesting theoretical real estate programs if you really think you need or want to shell out tens of thousands of dollars for the academic industrial complex.

[Anonymous]

Get an MBA

[Anonymous]

for a career*

[Anonymous]

As someone who works in commercial real estate and development I think a MBA is a waste of time and money for OP. Find people doing what you want to do and learn from them.

[Anonymous]

Anonymous wrote:There are professional certs that are viewed more favorably than an MBA for a kid career professional. There are a ton of niches in commercial and government real estate. Figure out specifically what your knowledge gaps are and find people who work in those niches. The sharpest people I've met in the game don't have educational backgrounds in real estate. They just have really good networks and a ton of experience.

MIT offers interesting theoretical real estate programs if you really think you need or want to shell out tens of thousands of dollars for the academic industrial complex.

Thanks for your insight. What professional certs would you recommend?

[Anonymous]

Anonymous wrote:

Anonymous wrote:There are professional certs that are viewed more favorably than an MBA for a kid career professional. There are a ton of niches in commercial and government real estate. Figure out specifically what your knowledge gaps are and find people who work in those niches. The sharpest people I've met in the game don't have educational backgrounds in real estate. They just have really good networks and a ton of experience.

MIT offers interesting theoretical real estate programs if you really think you need or want to shell out tens of thousands of dollars for the academic industrial complex.

Thanks for your insight. What professional certs would you recommend?

I've known many with CCIM or SIOR. Some impressive, some not so much. Without knowing where you really want to end up I'd consider getting PMP and finding a mentor or two doing what you want to be doing. Regardless of if you are looking to do local development or work for a larger firm most doors in real estate are opened by relationships.

This assumes you are mid career and not looking to start at the bottom.

[Anonymous]

I think this is a question for informational interviews with people who are more advanced on the career path you want.

[Anonymous]

I'll also add that RE is a team sport. You'll be part of a team with a variety of expertise. You need to define what you're passionate about bringing to the table and buildout that skillet.

[Anonymous]

I know someone that did the Hopkins program. He needed it move up in his company and they paid for it. Does your employer have a program where they would cover cost?

[Anonymous]

If you were in the 25-30 age range I would suggest an MBA. But if you are older, the advice you are getting----to network with people who are doing what you want to do ---is the best. List the skill sets you have a corporate real estate strategic planner and then start analyzing the other types of RE jobs where those skills would be most marketable. What type of corporate real estate are you involved with? Office? Industrial/big box? Government/defense contractors?