Real estate can be a great career. It’s a good fit for people from all kinds of backgrounds. Task-oriented people with vision can make great real estate developers. People with great communication skills can be great at selling real estate. One of the keys to launching a great career in this field is education. To find big success in real estate, it’s generally agreed that an MBA is necessary. This is because real estate requires good skills in several areas.
There’s a big range of real estate MBA programs to choose from. The very best ones have unique perspectives that set them apart. It’s a good idea for students to choose carefully applying. Not every program will be the right fit for every program. Some MBA programs are even designed with input from industry organizations like the Urban Land Institute. These provide real, practical information that graduates can apply in their work lives.
For example, Wharton is well-known for connecting the students in their program with successful people in the field. They do this by hosting events, including luncheons, where real estate titans interact with students. Wharton also provides students with a solid foundation of general business training. For example, the professors there know that students will need to be comfortable interpreting legal documents and have other practical skills.
Columbia University is a little different. They provide students with insights from other business fields like organizational change and accounting in addition to real estate. Of course, case studies and hands-on work are also very important. Students often work with actual case studies of problems encountered in the real estate world. Often, the people involved in those cases come in to guest lecture about those experiences. Good problem-solving skills are crucial in real estate, where permits, labor, and finance are all at play.
Stanford University’s real estate MBA program is notable for combining elements from a number of fields. Urban planning, psychology, architecture and art are all fields outside the business world that impact real estate careers. The emotional ties of home and family mean that many buying and selling decisions aren’t made on rational grounds alone. Successful real estate pros need to know about the factors that influence the choices consumers make.