Why Choose a Bachelor’s Degree in Real Estate Studies?

A career in real estate can be a lucrative choice. Although it is possible to achieve success in the field without obtaining a degree, a college degree confers many advantages to those with the patience and foresight to acquire one. Beyond all the statistics that show that degree holders earn tens of thousands of dollars more over a lifetime than non-degree holders, there are some clear reasons to get a bachelor’s degree in real estate studies.

Every state in the union licenses real estate brokers and other professionals. Getting a real estate degree prepares you to move quickly through the licensing red tape, including the all-important examination. In addition, most states require a certain amount of course credit in real estate studies even to take the licensing exam. Moreover, degree holders can often bypass some of the licensing requirements.

Many graduates of real estate degree programs go on to obtain a higher degree. Master’s degrees are available in real estate, as are M.B.A.s (Master’s in Business Administration degrees) with an emphasis in real estate. These degrees prepare people for management and other high level careers. Ph.D. programs are also available in real estate for those who wish to teach or influence urban policy at a more academic level.

Achieving success in any industry, but especially in one as competitive as real estate, requires maturity, ambition, and leadership. Degree holders have the confidence that knowledge inspires. They have also proved capable of collaborating with others and leading teams in projects. The experience that university life confers is invaluable.

• First and foremost, success in the real estate industry requires knowledge. Understanding local markets is crucial. Having an overview of national trends and the history of real estate can provide a real edge in a dog-eat-dog job market, however. Degree programs provide the perspective that cannot be obtained merely through work experience. Graduates of bachelor’s degree programs in real estate have a definite step up on the competition.

The following are some advantages of having a degree in real estate.

A degree can qualify you to test for state real estate licenses (state requirements vary)

All state governments and some municipalities oversee and regulate real estate professionals in their areas. They do this by offering real estate licenses to qualified individuals. These licenses are a sort of guarantee of quality that consumers can rely on. States have requirements that show a licensee has the knowledge and training necessary to ensure fair and legal property transactions. Consumers who deal with unlicensed brokers do so at their own peril.

Most states have age and experience requirements. Many demand that candidates taking the real estate license test show proof of experience working with a licensed professional. One way around this requirement is through the completion of a real estate degree. Two-year and four-year degrees will be treated differently in this respect, but both can lead to a loosening of the work requirement. This requirement ensures that licensees know the particular rules of their locality, as well as have experience in their market, which can be very different from other markets. Property in a downtown area, for instance, has different pricing and might sit on the market for a shorter duration than rural property.

Many states require candidates to complete a certain amount of coursework in real estate to qualify for the licensing exam. This requirement might consist of three courses or more. Those with licenses are often required to enter continuing education courses to keep up to date with changes in the industry. Those who have attained real estate degrees easily meet the coursework requirement in every state.

A universal requirement among states is that candidates for a license pass an examination. Another advantage of getting a real estate degree is that most programs prepare students to pass the exam. Each state exam is different, and many states do not have reciprocity, meaning that success on one state’s exam does not confer a license to sell real estate in another state. Regardless, getting a real estate license in any locality is made easier by first acquiring a real estate degree.

A degree is a prerequisite to obtaining an advanced degree specializing in a particular area of real estate

Many people graduate with a bachelor’s degree in real estate ready to continue their education. To earn a master’s degree or a Ph.D. one must first obtain an undergraduate degree. In addition, some graduate degrees require completed undergraduate coursework in the relevant field, in this case real estate, before graduate study can begin. An undergraduate real estate degree will also help candidates pass the myriad tests they must face before graduate school.

There are a variety of choices to be made when applying for a master’s degree program with an emphasis in real estate. There are master’s degrees in real estate development and master’s of science degrees in real estate, as well as master’s of business administration (M.B.A.) programs in real estate management. All require the completion of a bachelor’s degree. All require students to score well on either the GRE (Graduate Record Examination) or the GMAT (Graduate Management Admissions Test). Many require undergraduate courses in economics, accounting, and real estate.

Ph.D. programs accept only those who show a true academic passion. Candidates who wish to work for government or private institutions that affect urban policy and housing might consider pursuing a Ph.D. A bachelor’s degree in a related field is a prerequisite for consideration to a Ph.D. program.

A degree helps develop leadership and communication skills

Many young people are anxious to begin their careers as soon as they leave high school. Some figure that an extra few years of making money will increase their lifetime earnings. Numerous studies show this thinking to be erroneous. Holders of bachelor’s degrees, on average, make substantially more money than their counterparts with high school degrees. There are many factors that make degree holders more successful, but perhaps one of the most important is the maturity that higher education confers on students.

What sets degree holders apart from their peers is not only the knowledge they gain from their courses, but also the leadership and communication skills that are gained through advanced study. Colleges require excellent written and oral expression and help prepare and instruct students who are lacking in those skills. They also give young people low-pressure opportunities to cooperate and lead classmates in projects. When faced with the high-stakes leadership opportunities of a professional life, degree holders will compete with a surplus of experience.

Leadership and presentation skills are invaluable tools for the real estate professional. The competitiveness of the industry mandates that people have some quality that allows them to stand out from their peers. The ability to step up to the plate at moments of decision and pressure makes leadership a vital tool. At the end of the day, a real estate professional’s core job is to work with clients and help them match their desires with real property. Communication skills facilitate these relationships and speed completion of what can be a trying process of buying and selling property.

A degree teaches valuable market trending awareness skills

Choosing to get a real estate degree allows you to enter the job market with real skills on your résumé. In addition, those extra few years studying can be used to become more mature and a better leader. A real estate degree can also help you pass the licensing examination for real estate brokers or appraisers. Finally, degree programs teach you to notice and predict market trends. The ability to know what local and national markets are doing can be the difference between success and failure in the real estate industry.

Understanding current market trends is important. Knowing how real estate has fared over the previous years and being able to predict how it will react in the future are equally vital. Real estate degree programs give students a historical overview of housing in the United States. They also teach students how to evaluate knowledge gained from Internet databases. Housing data from before bull and bear markets can sometimes be applied to the present and even the future. Finally, knowing about national market trends is increasingly important, as the proliferation of Internet realty databases has given realtors a wider audience of buyers and sellers. Sellers will look to their broker for information on how much a home will sell for. Buyers will want to know what a house is worth in the current market.