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UNIVERSITY LEADERSHIP COUNCIL

Real Estate Education: Program Implementation and Market Demand

Education Advisory Board 2445 M Street NW ● Washington, DC 20037

Telephone: 202-266-6400 ● Facsimile: 202-266-5700 ● www.educationadvisoryboard.com

2012

June

Custom Research Brief Research Manager Allison Thomas Senior Research Manager Lisa Geraci

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Education Advisory Board

2445 M Street NW ● Washington, DC 20037


© 2012 The Advisory Board Company

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Table of Contents

I. Research Methodology ..................................................................................................... 4

Project Challenge ............................................................................................................. 4

Project Sources ................................................................................................................. 4

Research Parameters ....................................................................................................... 5

II. Executive Overview ......................................................................................................... 6

Key Observations ............................................................................................................. 6

III. Overview of Real Estate Education Offerings .......................................................... 7

Degree Programs and Course Options ......................................................................... 7

Tuition and Employer Reimbursement ........................................................................ 9

Student Demographics and Admissions .................................................................... 10

Post-Graduation Placement and Employment .......................................................... 11

IV. Implementation of Real Estate Course Offerings .................................................. 12

Strategies and Resources for Program Implementation ........................................... 12

Marketing Real Estate Programs ................................................................................. 13

V. Market Predictions: Jobs that Require Real Estate Education ............................... 14

Industry Predictions from Real Estate Education Administrators ......................... 14

National Occupational Projections Data .................................................................... 15

Job Posting Analysis ...................................................................................................... 17

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I. Research Methodology

Leadership at a member institution approached the Council with the following questions:

Industry Trends and Market Demand

How many job openings will be available in the coming years for those with real estate

course experience?

Are any particular areas in large-scale and non-residential real estate poised to experience

a significant increase or decrease in demand?

What are the professional and demographic characteristics of applicants and admitted

students?

What percentage of graduates is employed in a related field? What types of positions are

available to individuals with specialized real estate education?

Implementation and Administration of Real Estate Programs

Are real estate-focused courses offered in the form of degree programs, certificate

programs, or individual courses that supplement an existing degree? For degree and

certificate programs, how many courses comprise the program?

What are the curricular requirements for real estate programs? What are the traditional

syllabus components of real estate courses?

How do institutions coordinate accreditation of real estate courses and programs?

What is the cost of tuition for real estate courses and programs? Are employers willing to

reimburse tuition?

What resources (i.e., faculty, support staff, facilities) are necessary to start and maintain a

real estate-based program? Were other institutions able to leverage or reallocating

existing resources to minimize start-up costs?

How many staff members are dedicated to real estate program marketing? What program

strengths do marketing materials emphasize to students?

Advisory Board’s internal and online research libraries

(www.educationadvisoryboard.com)

United States Bureau of Labor Statistics (www.bls.gov)

National Center for Education Statistics (NCES) (http://nces.ed.gov)

National Association of Realtors (www.realtor.org)

Real Estate Educators Association (www.reea.org)

Urban Land Institute (www.uli.org)

Contact institution Web sites

Project Challenge

Project Sources

The Council interviewed administrators and directors of real estate education programs at the

following institutions:

A Guide to the Institutions Profiled in this Brief

Institution Type Location Approximate

Enrollment (Total

/ Undergraduate) Carnegie Classification

University A Private Northeast

(Small City) 20,900 / 13,900

Research Universities (Very high research activity)

University B Public Mid-Atlantic (Small City)

45,200 / 38,600 Research Universities

(Very high research activity)

University C Public Pacific West (Large City)



University D Public Mountain

West (Small City)



University E Public Northeast

(Fringe Town) 25,500 / 17,300

Doctoral/Research Universities

University F Public South

(Large City) 25,000 / 19,700

Research Universities (Very high research activity)

Source: National Center for Education Statistics

Research Parameters

II. Executive Overview

Educational opportunities for real estate range from course offerings that supplement

undergraduate or graduate degrees to full graduate degree programs. The Masters of Science

in Real Estate is the most common graduate-level degree dedicated to real estate studies, but

many MBA programs offer students the option to complete a series of real estate-related

courses that constitute a formal degree concentration.

Most academic real estate programs are housed within the school of business and

incorporate faculty from multiple disciplines (e.g., business, engineering, urban planning,

sustainability, etc.). Programs tend to be interdisciplinary and cover topics as diverse as

management, finance, investment analysis, appraisal, redevelopment, sustainable

development, law, and urban or regional planning.

Institutions offer specialized academic opportunities that target trending areas within the

real estate industry, such as real estate portfolio analysis and existing asset management.

Some institutions offer courses that are particularly relevant to a geographic region, such as

transit-oriented development and community transformation (relevant to urban areas with

rapidly-increasing populations).

The cost of full-time real estate program tuition averages $28,000 annually. Employers are

rarely willing to reimburse students for tuition, although employer financial assistance is most

common for executive MBA students and is contingent upon academic performance and re-

employment after graduation.

The typical real estate masters student has three to seven years professional experience in a

real estate-related industry and enrolls in supplemental education to advance his or her

professional status. Program completion rates are nearly 100% at all contact institutions and

employment at the time of graduation is extremely high (between 70% and 100%).

Contacts report consist enrollment in real estate education programs despite a fluctuating

real estate market. While some professionals no longer consider a career in real estate as a

viable professional trajectory, others seek advanced education to enhance their qualifications

and position themselves as competitive job candidates in the real estate industry.

The types of positions available to program graduates have shifted from development and

general contracting management to property management, appraisal, urban planning, and

asset and portfolio analysis. Some graduates return to work for law firms, engineering

organizations, housing authorities, or private banks and accounting firms.

Extensive financial resources and professional industry connections are critical to the

successful implementation of new real estate programs. Program administrators will

maintain steady enrollment only if industry practitioners commit to hiring graduates. Many

institutions create advisory councils for real estate programs; council members are typically

local real estate practitioners who mentor students, give guest lectures, and actively recruit

from program graduates.

Analysis of national occupational projections data and current job postings reflect that job

opportunities in real estate will be best for professionals with specialized real estate

education and extensive industry connections. The expected economic growth in most real

estate industry areas remains lower than total expected economic growth across all industries.

Key Observations

III. Overview of Real Estate Education Offerings

Undergraduate and Graduate Real Estate Education Includes Coursework, Field Experience, and Professional Networking

Educational opportunities for real estate range from course offerings that supplement

undergraduate or graduate degrees to full graduate degree programs. Most programs are

housed in the business school and incorporate an interdisciplinary academic curriculum,

career counseling, guest lectures, professional mentoring, and field experience. Courses and

degree programs are accredited by the same accrediting body as the school of business.

Undergraduate Real Estate Courses

Most institutions permit undergraduate students to enroll in graduate-level courses that

relate to real estate, but University D is the only contact institution that offers an

explicit real estate certificate at the undergraduate level. The certificate supplements

the Bachelors of Science in Business Administration and consists of six components: a

principles of real estate course, a real estate finance course, a development course, an

academic internship in the real estate industry, and at least two courses outside of the

business school (e.g., courses offered in the schools of engineering, environmental

planning, architecture, etc.).

Real Estate Masters Degrees

University A and University F offer interdisciplinary non-MBA masters degrees for

real estate professionals; administrators at University D may implement a one-year

Masters of Science in Real Estate (MSRE) program.

Overview of Real Estate Masters Programs

Degree Program Length

Curriculum Notes

Masters of Professional Studies in Real Estate

University A

Two years (full time)

First year is core curriculum; second year is concentration courses (nine options across

real estate investment, development, international

real estate, etc.)

Also requires a summer internship and yearly capstone project that involves

a real client

Masters of Science in Real Estate

University F

One year (full time)

11 total courses across multiple academic disciplines

New program starting fall 2012

Degree Programs and Course

Options

1

2 Common Real Estate Curriculum Topics:

Management

Finance

Development

City, Regional, and Urban Planning

Law

Sustainable Development

Economics

Investment Analysis

Appraisal

MBA with Real Estate Concentration

MBA students can elect to complete real estate concentrations at University B, the

University C, University D, University E, and University F. Like full real estate degree

programs, real estate concentrations are interdisciplinary. Concentrations incorporate

between four and eight real estate-focused elective courses, professional networking

opportunities, and other extracurricular experiences. Students can typically transfer

academic credit from real estate-related courses taken in other academic schools (e.g.,

engineering, architecture, environmental studies, law, urban planning, etc.).

Administrators at University B report an increasing need for real estate professionals

with qualifications in financial analysis of the real estate industry and investment; the

real estate-focused courses available to MBA students thus focus on investment,

finance, and appraisal.

Students at University D can participate in a project competition class sponsored by

the local NAIOP chapter (NAIOP is the National Commercial Real Estate

Development Association). Students work in teams on site-based projects judged by

real estate industry professionals.

3

“Students can combine business school electives with real estate-related courses from other academic colleges to customize their MBA experience to fit their particular interests or professional focus.”

– Council Interview

Real Estate Education at University X School of Real Estate

The School of Real Estate at University X housed within the College of Business offers three graduate-level real estate education options:

MBA with Concentration in Real Estate: Students must complete a minimum of three real estate-related courses for the concentration. The program prepares students for executive and managerial positions in real estate while offering broadly-applicable business administration education.

Masters of Science in Real Estate: The MSRE consists of seven real estate-focused courses and four general business courses. The program attracts professionals interested in entering or enhancing their careers in real estate in fields such as residential and commercial sales, architecture, construction management, lending, law, property management, development, and consulting.

Specialization in Commercial Real Estate: This five-course sequence is offered to students who have completed a bachelor’s degree program; all credit can be transferred to either the MSRE or MBA programs.

Academic Real Estate Programs Adapt to Changing Industry Trends

Some institutions offer specialized academic opportunities that target trending areas within

the real estate industry or areas that are particularly relevant to a geographic region.

The Center for Real Estate at University D coordinates a summer lecture series for MBA

students or senior undergraduates designed to address opportunities available in the

trending field of asset management and to encourage student networking with industry

professionals.

The real estate program at University F developed a niche in real estate construction

based on the local construction emphasis in the surrounding area; however,

administrators have shifted course curricula to focus more on management and

maintenance of existing assets in order to respond to current industry demands.

Administrators at University E have witnessed a need within CPA firms for professionals

with real estate education backgrounds for portfolio management and analysis;

administrators recommend that students take one or more courses in accounting to be

marketable in these nontraditional employers of real estate graduates.

“Real Estate and Social Entrepreneurship” is a new elective course at University C that

addresses topics relevant to urban environments (e.g., affordable housing, permanent

housing for the homeless, transit-oriented development, community transformation, etc.).

Real estate courses also contain topics related to issues that are particularly relevant in the

surrounding area, such as the Costal Commission and anti-carbon emission legislation.

The Price of Real Estate Education Programs Varies Across Institutions

Estimated Annual Tuition and Fees for Real Estate Programs

$12,800/$30,000

(Resident/Non-Resident)

University E

$14,700/$28,800


University D

$18,000

(Full-Time Resident)

University F

$21,000/$34,000


University B

$41,000

University A

$59,000

University C

Students who pursue real estate concentrations within MBA programs pay regular MBA

program tuition. Contacts at University A, University C, University D, and University F

report that employers rarely fund students in their real estate programs. Employer financial

assistance is most common for executive MBA students, is typically capped at a certain

amount (e.g., the employer pays up to $10,000 for supplemental education), is contingent upon

the students’ academic performance, and stipulates re-employment after graduation.

Tuition and Employer

Reimbursement

Real Estate Education Programs Target Young Professionals with Real Estate Industry Experience

The typical real estate masters student works in real estate and arrives with three to seven

years work experience. Students represent fields as diverse as finance, architecture, real estate

development, commercial brokerage, appraisal, and asset management. These students are

often local or regional (i.e., in-state or from a neighboring state) and plan to use the masters

degree to move into a management role. Contacts also report a small number of international

students in MBA programs who elect to concentrate in real estate. Nontraditional real estate

students include: young professionals with less than five years of work experience and no real

estate background, and real estate professionals with at least 10 years of work experience

(mostly in executive MBA programs with a real estate concentration).

Students who wish to complete a real estate concentration within an MBA program apply

through regular MBA admissions processes. Many students indicate their interest in a real

estate focus on their application materials but demonstrated interest does not guarantee

admission into the program.

Approximately 20 MBA students at University D and University E complete the real estate

concentration each year, while only two or three MBA students at University B are currently

concentrating in real estate. The Masters of Professional Studies in Real Estate at University A

accepts about 20% of program applicants each year for a 25-student enrollment class. Program

completion rates are nearly 100% at all contact institutions.

Enrollment in Real Estate Programs Remains Consistent

Contacts report consist demand for and enrollment in real estate education programs despite a

fluctuating real estate market; contacts at University C report an slight increase in student

interest in real estate concentrations as more professionals hope to elevate their careers within

the real estate industry. In general MBA programs, about 10-20% of MBA students

(approximately 20-25 students) complete a real estate concentration.

Student Demographics

and Admissions

The Masters of Professional Studies in Real Estate at University A includes an introductory principles of real estate course that bridges knowledge gaps between students from diverse professional backgrounds (i.e., some with professional real estate experience and others with no related experience).

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Graduate Employment Rates are High and Span Multiple Professional Fields

Contacts report post-graduation employment rates between 70-100% at the time of program

completion; students who have no secured jobs at the time of graduation find employment

within three months, especially if they are willing to relocate. Contacts emphasize that

interdisciplinary curricula produce adaptable and well-rounded candidates with qualifications

suitable to many positions and fields across the real estate industry. Trends in graduate

placement correspond directly to broader economic fluctuations.

Types of Positions Available to Program Graduates

Real estate education programs are carefully designed to ensure their graduates will be

competitive job candidates despite uncertain employment projections. Two popular

approaches to real estate program design are outlined below:

Identify Program Niche/Area of

Expertise

Offer a Flexible and Interdisciplinary

Program

Strategy: program becomes the “go-to”

program for one niche within the real

estate industry (e.g., appraisal, financial

analysis, property management, etc.)

Advantages:

Ability to focus student recruitment,

professional networking, and graduate

placement in one or few fields

Opportunity to leverage pre-existing

institutional academic strengths and

reputation to create a prestigious brand

for the real estate program

Strategy: incorporate academic components

from multiple colleges and business fields to

produce well-rounded and flexible graduates

Advantages:

Ability to attract wide range of students

with diverse interests and professional

experiences

Many opportunities for collaboration with

professionally-connected faculty and

across academic disciplines

More flexible educational experience

applicable to many areas across the real

estate industry ensures graduates will

enjoy job security despite unforeseen

economic conditions

*Most contact institutions follow this

approach

Post-Graduation Placement and

Employment

1 2

Trending Positions Before Recession

Positions within development firms

General contractors

Design and construction managers

Current Trending Positions

Internal real estate portfolio managers (corporate environments)

Real estate investment analysts

Urban planners and engineers

Commercial appraisers

Real estate lending and acquisition managers Asset managers

Property managers

IV. Implementation of Real Estate Course Offerings

Financial and Industry Resources are Critical to Program Implementation

Contacts recommend that new program administrations leverage existing strengths and

resources of the institution, such as faculty expertise, existing support staff, and career

counseling resources. Real estate programs tend to enrollment small class sizes and operate

with little full-time staff member support; programs at many institutions operate with only

one or two dedicated administrators or staff members. Initial marketing expenses are cost-

intensive but necessary for new programs with no established reputation in the industry.

Resources Necessary to Implement a Real Estate Education Program

Substantial private sector or endowed funding (long-term funding commitment is ideal)

Active connections to real estate industry professionals with graduate placement capacity

Faculty qualified to teach real estate-focused course(s)

Administrator to coordinate curricular development and facilitate professional

networking

Real Estate Program Implementation Strategies

Administrators at University F created the MSRE program by pairing

finance, law, economics, and other real estate-related courses already

offered in the MBA program with real estate-related courses offered in

other disciplines (e.g., a site feasibility course from the geography

department, a construction fundamentals course out from engineering, an

architectural design principles course, etc.). Contacts report this was a

cost-effective means to implement a new interdisciplinary degree

program.

The real estate program at University C originally outsourced functions

such as print, design, marketing, and admissions to other institution

offices; as the program grew, more dedicated staff members were hired to

oversee those functions.

The Masters of Professional Studies in Real Estate at University A

incorporates courses and faculty from seven academic colleges; program

administrators also use the career counseling staff in those colleges to

review student resumes and prepare students for interviews.

Metropolitan areas offer large potential student pools and networking

opportunities that are critical for new program establishment. However,

contacts at University E reflect that program administrators should

consider the local presence of similar programs that may compete to

recruit the same real estate industry students.

The real estate program at University B collaborates with real estate

practitioners in the local market for course instruction and field study

opportunities.

Strategies and Resources for

Program Implementation

Reallocate Existing

Academic Offerings

Assess the Local

Market and Competition

Outsource Functions to

Existing Personnel

$5 million

The MSRE program at University F is supported by a $5 million endowment that covers the majority of marketing and administrative costs.

Endowment

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Contacts at University D emphasize that financial support from industry

partners is helpful but successful programs must establish partnerships

with employers who are formally committed to recruiting and hiring

program graduates.

Faculty and administrators at University E coordinate internship

opportunities and on-campus interviews for students to ensure students

are competitive job candidates upon graduation.

The Center for Real Estate at University C is 100% supported by

philanthropic funds from real estate industry leaders. Through their

contributions, industry partners participate in conferences, symposia,

networking opportunities, research, and access top students for hiring

purposes.

Industry Leaders Serve on Program Advisory Councils for Academic Enhancement and Professional Networking

Because industry connection and support is critical to program success, most contact

institutions create advisory councils for real estate programs. Council members are typically

local real estate practitioners with extensive professional experience across many sectors in the

field. Contacts at University A, University C, and University D report that council members

serve as mentors to students, give lectures in their areas of expertise, and assist students with

career decisions; some council members regularly recruit from program graduates.

Real Estate Education Marketing Relies on Industry or Alumni Connections and Program Reputation

Contacts report that real estate program marketing occurs primarily through “word of mouth”

communication across alumni and industry networks. University C employs a dedicated staff

member for real estate program marketing and the MSRE program director at University F

meets with young leader groups in local real estate trade organizations to advertise the degree.

Marketing efforts at all other contact institutions are minimal and coordinated by the program

director or by marketing staff that serve the broader business school or MBA program.

Program Elements Emphasized to Attract Students

Interdisciplinary curriculum and broadly-applicable degrees

Extensive connections to real estate industry professionals and employment opportunities

Extracurricular experiences and opportunities for field study and client-based projects

Competitive advantages over other programs (e.g., internationally-prestigious academic

programs, geographic situation, etc.)

Marketing Real Estate Programs

“Industry professionals might be more inclined to commit to hiring graduates if they have a role in developing the curriculum... you can bring them on board as advisors and ask them what kind of skill set they’re looking for when they hire students. Get them involved early in the process and ensure you are forming the student they want.”

Council Interview

Ensure Real Estate

Industry Support

Marketing materials at University C emphasize that the institution’s location in the Southwest – a gateway to Latin America and situated on the Pacific Rim – provides students access to the international real estate market.

V. Market Predictions: Jobs that Require Real Estate Education

Online Real Estate Education Offerings Compete with Real Estate Programs at Non-Profit Institutions

Contacts observe that the market for real estate education has recently become more saturated

as a result of an increasing demand for advanced education experience; contacts across

institutions reflect the following observations about real estate education trends:

The academic discipline of real estate has expanded and shifted from MSRE programs

to MBA programs with real estate concentration options (programs are typically housed

within schools of business).

Programs are most successful if they are located in urban areas and recruit local real

estate professionals across diverse practice areas (e.g., development, finance, urban

planning, etc.).

Programs are only successful with sufficient funding and industry support for graduate

placement.

Significant competition exists from online education providers. The National

Association for Realtors (NAR) is one of many real estate trade organizations that offer

online professional development courses, designations, and certifications. However, non-

profit real estate-focused education programs are distinct because they tend to offer an

interdisciplinary curriculum and therefore more flexible employment options. Non-profit

programs also emphasize professional networking and mentorship opportunities that

online education programs lack. Contacts emphasize that these distinctions give non-

profit programs a competitive advantage over online options.

The Commercial Real Estate Industry is Fragile but Steadily Improving

Contacts acknowledge that the commercial real estate market is slow but offers better job

prospects than the residential market; they also agree that markets are more stable in large

cities. Administrators at University C and University E cite steadily-improving job prospects

for program graduates. Based on employment trends and industry research, contacts predict

that the following areas within the real estate industry will experience an increase in demand

for professionals with advanced education experience:

A 2012 NAR Real Estate Outlook report cites a rising demand for commercial space as a result

of minimal new construction in recent years that has prevented an increase in property

supply.1 Real estate program graduates will see a subsequent demand for commercial

property managers and portfolio analysts. The majority of commercial activity is concentrated

in properties priced over $2.5 million.2

1 NAR Commercial Real Estate Outlook May 2012 (www.realtor.org/reports/commercial-real-estate-market-outlook).

2 NAR News Release: “All Commercial Real Estate Sectors Continue to Improve, Multifamily Strong” (www.realtor.org/news-releases/2012/05/all-commercial-real-estate-sectors-continue-to-improve-multifamily-strong).

Industry Predictions from

Real Estate Education

Administrators

Real estate finance

Real estate economic

analysis

Appraisal

Maintenance and

management of existing

properties

Redevelopment

(particularly sustainable

redevelopment)

The table below outlines the National Bureau of Labor Statistics (BLS) occupational projections in four fields directly related to the real estate industry. BLS data

reflects that job opportunities will be best for professionals with specialized real estate education and extensive industry connections. The expected total economic

growth (all industry areas) between 2010 and 2020 is 14%; most real estate industry areas are below this national average.

Bureau of Labor Statistics: National Occupation Projections in Real Estate Fields

Field Expected National Growth

Job Opportunities Factors Impact

Property, Real Estate, and Community Association Managers1

6%

Job opportunities should be best for those with a college degree in business administration, real estate, or a related field and for those who get a professional certification.

Projected increase in the elderly population

Particularly good job opportunities expected for those with experience managing housing for older people and with experience managing healthcare facilities

Real Estate Brokers and Sales Agents2

Sales Agents:

8%

Brokers: 12%

Brokers should fare better than sales agents because they generally have a large client base from years of experience as sales agents. Those with extensive social and business connections in their communities should have the best chances for success.

Real estate perceived as a good long-term investment

Population growth and mobility will continue to stimulate the real estate market

Need for new brokers and agents

Urban and Regional Planners3

16%

Although government funding issues will affect employment of planners in the short term, job prospects should improve over the 2010–20 decade. Planners will be needed to help plan, oversee, and carry out development projects that were deferred because of poor economic conditions. Job prospects will be best for those with a master’s degree from an accredited planning program and relevant work experience.

Population growth and environmental concerns

Expected influx of people into metropolitan areas (and subsequent increase in revitalization projects and population growth issues)

Employment growth for planners in cities, suburbs, and other areas

Employment growth should be fastest in private engineering, architectural, and consulting services – engineering and architecture firms are increasingly using planners for land use, development, and building

1 http://bls.gov/ooh/management/property-real-estate-and-community-association-managers.htm#tab-6

2 http://www.bls.gov/ooh/sales/real-estate-brokers-and-sales-agents.htm#tab-6

3 http://www.bls.gov/ooh/Life-Physical-and-Social-Science/Urban-and-regional-planners.htm#tab-6

National Occupational Projections Data

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Appraisers and Assessors of Real Estate

7%

Overall job opportunities are expected to be highly competitive. Employment opportunities should be best in areas with active real estate markets and for appraisers who appraise commercial properties.

Economic expansion and population increases

Increased use of automated valuation models and mobile technologies, which allow workers to appraise and assess more properties

Demand for real property

Productivity increases and decreased employment demand

BLS Projected Real Estate Job Openings due to Growth and Replacement Needs: 2010-20201

Occupation

Employment Change: 2010-2020 Percent Self-Employed

Job Openings (in thousands)

Typical Entry-Level Education*

Number (in thousands)

Percent

Real Estate Sales Agents 45.0 12.2 57.3 127.6 High School Diploma

Property, Real Estate, and Community Association Managers

18.4 6.0 50.5 82.3 High School Diploma

Real Estate Brokers 7.5 7.6 57.3 29.7 High School Diploma

Appraisers and Assessors of Real Estate 5.8 7.4 18.2 22.2 High School Diploma

Urban and Regional Planners 6.5 16.2 1.7 16.8 Master’s Degree

*Most graduates of real estate programs at contact institutions are eligible for mid-level positions which may require more advanced educational experience.

1 ftp://ftp.bls.gov/pub/special.requests/ep/ind-occ.matrix/

Current Job Postings Reflect Diverse Employment Opportunities

The Council searched the Indeed.com job posting Web site to identify current real estate-

related employment opportunities in a Midwest metropolitan area. Field keywords were

based on areas of the real estate industry currently experiencing or poised to experience an

increase in demand (identified by contacts and BLS data), as well as industries that employ the

majority of real estate program graduates. The data below illustrates the breadth of available

positions across the real estate industry:

Indeed.com Search Results for Current Real Estate Position Openings

Field Total

Search Results

Select Position Titles Select Companies /

Organizations

Real Estate Finance

311

Real Estate Development Project Manager, Retail Real Estate Transaction Analyst, Financial Analyst, Corporate Finance Analyst, Consulting Manager

Lawndale Christian Development Corporation, Jones Lang LaSalle, Cornerstone Real Estate Advisors LLC, Equity Office, Huron Consulting Group

Real Estate Law

258 Senior Counsel, Real Estate Associate, Real Estate Paralegal, Legal Secretary – Real Estate

Baker & McKenzie, Chapman & Cutler LLP, Seyfarth Shaw LLP

Real Estate Appraisal

67

Appraisal Review, Senior Real Estate Representative, Valuation Associate, Validation Reviewer, Appraiser

PNC Bank, ComEd, Standard Bank & Trust Company

Real Estate Management

672

Real Estate Manager, Real Estate Contracts Supervisor, Manager of Real Estate & Facilities Portfolio Planning and Analysis, Manager of Investor Account Operations

Inland Real Estate Investment Corporation, Exelon, McDonald’s, CBRE Group Inc.,

Real Estate Tax

158

Senior Property Accountant, Real Estate Tax Manager, Real Estate State & Local Tax Manager for Financial Services, Federal Tax Real Estate Manager

Pricewaterhouse Coopers LLP, Mid-America, Plante Moran

Real Estate Acquisition

130

Site Acquisition Manager, Site Acquisition and Zoning Specialist, Site Acquisition Associate

Apex Systems Inc., CoreTech, CrownCastle International

Real Estate (general)

1,124

Commercial Real Estate Regional Manager, Realty Specialist, Leasing Consultant, Real Estate Assurance Senior, Real Estate Technology Manager

Ernst & Young, Accenture Management Consulting, Fifth Third Bank

Total: 2,720

Job Posting Analysis

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21

4

55

Bachelor's Degree

Graduate Degree

Professional Certifical or License

None Specified

Less than 20% of Surveyed Positions Require a Graduate-Level Degree

Overview of Minimum Education Requirements n=35

Overview of Common Skills Requirements Across All Fields

Hard Skills Soft Skills

Knowledge of Microsoft Office, especially

Word and Excel

Knowledge of real estate software

Knowledge of databases

Strong analytical skills

Knowledge of real estate

terminology/processes

Knowledge of financial terminology

Strong written and verbal

communication skills

Strong organizational skills

High attention to detail

Ability to work as part of a

team/interpersonal skills

Self-driven and independent worker

Excellent customer service skills

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