What To Look For In A Real Estate MBA Program
While an MBA isn’t required to enter real estate, it can be helpful in gaining skills that are applicable to the field and building connections.
B-schools, such as UCLA’s Anderson School of Management, UNC’s Kenan-Flagler, and Georgetown’s McDonough all offer MBA programs for real estate.
But what exactly should an applicant look for in a real estate MBA program?
Ilana Kowarski, a reporter for US News, spoke to experts on what applicants should especially focus on when it comes to choosing the right real estate MBA program.
LOOK AT COMMUNITY
Experts say one of the biggest benefits of getting an MBA for real estate is the connections you’ll make in b-school.
“A lot of hiring in real estate happens from word of mouth, or the candidate doing research,” Aaron Bothner, vice-president for real estate acquisitions at Wafra, a Kuwaiti state-backed investment firm in New York City, tells Financial Times.
Therefore, it’s critical to research how strong a b-school’s real estate community is.
Experts recommend that applicants research how many real estate clubs, events, and courses each school may have to gauge the quality of its real estate community.
While real estate focuses on finances and analysis, it can be helpful to seek out an MBA program that offers a plethora of skillsets.
“Real estate is an industry that draws from a lot of different fields, and so the people who are successful at real estate need to be able to run a business, and they need to be able to finance it,” Todd Sinai, chair of the Real Estate department at the University of Pennsylvania’s Wharton School, tells US News.
On top of an interdisciplinary education, it’s important to look at how specific real estate courses are and what kinds of skillsets they offer.
Experts say real estate grads will need to have specific skill sets to the field when graduating.
“Once graduated, MBAs will be able to apply to principles related to real estate, land and property laws, construction technology, property development process, environment laws, planning, property management, and investment,” according to Top MBA. “Real estate experts also need to measure land and property to analyze how feasible development will be. Other skills will include inspecting landmass and producing valuations to ensure the client gets the best deal for their investment.”