Individuals interested in real estate can choose to get a degree in real estate. To become a real estate agent, an individual only has to take enough classes to pass the real estate licensing exam and obtain licensure. Real estate brokers are generally required to complete a degree with the bachelor’s degree being the most popular. Despite it not being a legal requirement, many aspiring real estate agents are also choosing to get a degree in real estate. Here are some possible degree options in real estate.
Associate’s Degree
Although a candidate may not need a degree, many find the associate’s degree as the best way to get started in real estate. The associate degree takes two years to complete, but it provides a good foundation on which an individual can start his or her career. The degree also looks good on a resume. Associate degrees in real estate are available not just at many colleges but also through distance learning.
An individual could take a few classes to prepare for the licensing exam, pass the exam, begin working as a real estate agent and continue to earn the associate’s degree. Students in an associate degree real estate program complete courses in real estate appraisal, real estate marketing, real estate brokerage, property management, property investing and real estate law.
Bachelor’s Degree
Bachelor degrees in real estate are the ideal choice for the individual who wants to become a real estate broker. Real estate agents or brokers who are interested in commercial real estate typically find the bachelor’s degree very beneficial. Before someone can become a real estate broker he or she must have anywhere from one to three years of experience as a licensed real estate agent. In some states, having a bachelor’s degree in real estate can take the place of the experienced, according to the U.S. Bureau of Labor Statistics (BLS).
Many colleges offer real estate undergraduate degrees in areas like real estate, business administration, marketing and finance. Course topics in the bachelor’s degree program might include real estate law, environmental issues, finance, land-use planning and marketing. These courses are very helpful for someone who intends to own or manage a real estate company. The bachelor’s degree program is also beneficial for an individual who aspires to become an assessor or appraiser.
Master’s Degree
The master’s degree is an ideal choice for a real estate agent or broker who wants to specialize in a specific area of real estate because it allows the student to focus on that area while still learning all the basics of real estate. Some students may choose to earn an MBA with a concentration in urban systems, real estate development, real estate capital markets or commercial real estate, among others. A graduate student may complete courses in hedge funds, real estate market analysis and real estate law for developers, Another possible graduate degree is the Master of the Science in Real Estate Development.
Career Outlook in Real Estate
The state of economy plays a large part in determining the career outlook and wage potential for real estate professionals. The BLS predicted that real estate agents and real estate brokers would see a job growth of six percent between 2016 and 2026. As of a July 2018 wage report by PayScale, real estate agents earned an average annual wage of $46,962 with wages ranging from $24,271 to $116,011. Wages for real estate brokers ranged from $28,444 to $146,925 with the average wage at $51,700.
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As our economy continues to boom and grow, so does the number of individuals and families choosing to buy and sell homes. As this continues, this can be an exciting time or real estate brokers and agents. An individual who chooses to get a degree in real estate can be pursuing a career that’s exciting, challenging and very lucrative.