Heading back to school
When the economy dips and layoffs rise, it's not uncommon for
workers to want to retool their skills and return to the classroom. But
what is happening to education within the real estate sector, which has
played a pivotal role in the unraveling of America's economy?
This month, The Real Deal
has decided to lift the curtain and take a look at the health of real
estate education. It turns out that the scope of programs is as varied
as the industry. While much of real estate is in the doldrums, interest
in graduate education at the country's top real estate programs remains
strong. To their applicants, these programs are the equivalent of MBAs.
MIT's Center for Real Estate and NYU's Real Estate Institute, two of
the country's leading centers, report that interest from both
applicants and employers remains strong. MIT in particular has been
expanding its focus on development abroad, especially in Asia, where
the scale of building is far greater than in the U.S.
Yet learning about real
estate doesn't always require years of study and gobs of money. Short
and inexpensive seminars offered by groups like Property Shark and the
Learning Annex are gaining in popularity. But in one story,
our reporter finds the quality of the classes uneven. While Property
Shark offers solid tips for novice homebuyers, Learning Annex classes
like "Buy New York City real estate at 1970s prices" tantalize, but
don't altogether offer convincing lessons.
The present downturn in
the housing market may be one reason why fewer brokers and agents are
renewing their licenses. In New York State, the dip has been modest,
but it still shows that fewer individuals view the real estate
profession as a viable line of work.
To prepare new agents
for a changing environment, the city's largest brokerages all tout
in-house training programs. These range from quick orientations, such
as those offered by Corcoran, to six-week-long classes hosted by
Bellmarc.
Finally, there are
those on the lending side of the business. In light of the subprime
fiasco, calls have increased for better training and stricter ethical
guidelines for mortgage brokers. Although the mortgage industry is in
broad agreement about the need for tighter standards, another story shows that it remains divided about which professionals should be
obliged to attend.
Hitting the books
Teaching brokers the business
Herd begins to thin: State sees drop in number of real estate licenses
Buyers use classes to gain an edge
Industry divided over regulation issues

Comments
Rita
emeraldinvestmentsinc@gmail.com
Comment #0 Posted By: Rita 05/06/08
Anonymous
What about the MSRED program at Columbia University?
Comment #1 Posted By: Anonymous 05/06/08
I'm surprised that the Editor didn't made enough research, as several real estate programs are out there. Personally, I know that the MSRED at Columbia University has a high standard of faculty and alumni and by the way, a great demand of applicants. USC has also an intersting program and is also doing very well in demand. Cornell has also worked with this type of programs very sucessfully.
Comment #2 Posted By: 05/06/08
Anonymous
How is Columbia MS in Real Estate not on this list? It must be a mistake.
Comment #3 Posted By: Anonymous 05/06/08
Matthew
both of NYU's programs (the masters in RE and the graduate certificate in RE) are geared towards working professionals. none of their classes start before 4:00 PM.
Comment #4 Posted By: Matthew 05/06/08
Anonymous
It is about time real estate professionals increase and expand their knowledge about real estate to mastery levels (graduate school) besides simple broker licensing. Real Estate is so dynamic and involves so many different players: contractors, government officials, banking & financing, markets & urban as well as macro economic analytics. To truly succeed in this game as an investor, all these factors have to be thoroughly evaluated. Victor goes to the most calculated. I am a proud product of CUNY with a major in finance and double minor in real estate and economics. From what I have seen, finance & banking professionals go through more rigorous training than do RE professionals. I would like for that to change. And yes Columbia does offer a great RE program.
Comment #5 Posted By: Anonymous 05/21/08
Anonymous
I have heard from a few well established developers and re finance professionals that a master of science in re development is not a well respected credential and is seen as much less serious than an MBA........any thoughts from people in a program such as columbia's?
Comment #6 Posted By: Anonymous 05/28/08
Tom
I did my MSRED at Columbia and work now for Lehman Brothers. Most of my class mates got the job they wanted after the program.
The MSRED program at Columbia is one of the best in the world.
Comment #7 Posted By: Tom 06/03/08
George
I got my MSRE from NYU's program and it was the determining factor in getting an acquisitions job at a large firm. MBA's are great, but they don't have that much real estate content. That explains why Stern students often take classes in the NYU's real estate institute, but hardly yhte other way around. If you have a serious undergrad degree and good employers on your resume then the MSRE is as good if not better than an MBA in the real estate world. Also the network of real estate people in the NYU program is far better than any MBA program.
The top programs in real estate are NYU, Columbia, Cornell and MIT. I am sure other programs are good but these programs are considered the top.
Comment #8 Posted By: George 06/16/08
Anonymous
I graduated from the NYU RE masters program several years ago. I do feel the faculty and courses at Columbia may be stronger than at NYU but NYU's student body is mostly part-time making the NYU program a very strong place to network. My classmates all have great jobs in the industry now.
Comment #9 Posted By: Anonymous 06/16/08
Anonymous
THE NYU program is only second tier - Sorry
Comment #10 Posted By: Anonymous 06/20/08
Veracity
Comment # 10: Obvious Columbia Troll
Comment #11 Posted By: Veracity 06/27/08
Veracity
Comment # 10: Obvious Columbia Troll
Comment #12 Posted By: Veracity 06/27/08
Wharvard
NYU MSRE grads can be seen at the highest levels of firms in the NYC real estate industry. This has to impact upon firm hiring practices and thus the power of the degree. The haters on the board are obviously venting bc they chose the wrong school and cannot live with your choice.
Comment #13 Posted By: Wharvard 06/29/08
Anonymous
Comment 10 - No MIT Troll
Comment #14 Posted By: Anonymous 07/02/08
Anonymous
Sure - NYU is of course much better and more prestigious than Columbia and MIT (HA HA HA)– I wonder how you are able to fool yourself that well…
Comment #15 Posted By: Anonymous 07/02/08
Anonymous
NYU is a second tier program. The average GMAT for the school is barely a 560 and masters students sit in the same room as certificate students. I'm sorry but to call itself a top program NYU needs to have higher standards than just 50% percentile. Especially when the real top programs have GMAT test scores at 90% or higher.
The top programs are: MIT, Columbia, USC, and Cornell in that order.
Comment #16 Posted By: Anonymous 07/17/08
Anonymous
To # 16: Funny, because Columbia waives their GMAT requirement if you are working for 2 years or more. So, effectively - no GMAT requirement AND it is only a cursory year long program with basic finance classes. NYU provides a Finance intensive program. RD Stop the trolls please.
Comment #17 Posted By: Anonymous 07/17/08
Busted911
The Troll bashing on NYU is a guy named Phear_Me under a series of made up handles/Ids.
He is some wannabe insecure prestige whore who went to a low level MBA program and is going to MIT for an MSRED. He pathetically feels the need to bash schools like NYU to make his degree look better. We are all onto you buddy. Stop trolling for MIT and USC, we know who you are and what you are doing.
Look him up on Businessweek and Cyburbia to name a few sites where he has adopted numerous handles to defame a host of schools, including NYU.
Stop it troll.
Comment #18 Posted By: Busted911 07/21/08
Anonymous
NYU is only second tier and their real estate program sucks...
Comment #19 Posted By: Anonymous 07/21/08
Anonymous
Ha ha ha phear_me is back at it again
Insecure troll.
Comment #20 Posted By: Anonymous 07/22/08
Anonymous
Every Monkey can attend the NY real estate program - It is only a cash cow for NYU
Get a real degree and go to MIT or Columbia
Comment #21 Posted By: Anonymous 07/22/08
Anonymous
Ha Ha Ha Ha. This board is like a bs magnet for the debased Columbia/MIT trolls.
Comment #22 Posted By: Anonymous 07/24/08
Anonymous
I agree, both NYU's and Columbia's programs are excellent east coast prograns (and have produced many well respected industry leaders especially in the NY metro area) and there is a great deal of reciprocity between these two NYC schools in terms of social gatherings, joint roundtables, etc. The banter between who is swinging the biggest #$^$ is as childish as it is expected.
Everyone just needs to relax on this board and remember that those coming out of these schools are actually MSRE brethren (and should seek synergies) in a world that has traditionally thought an MBA is the only valid post grad business degree (which I think was the underlying theme of the above article).
Comment #23 Posted By: Anonymous 07/24/08
Anonymous
Wow, this Phear_Me character is a real low life. He is all over the net with his one man show of real estate program pollution. They need to revoke this guy's Net pass.
Comment #24 Posted By: Anonymous 07/24/08
Brad
I have a friend who did the program at Columbia and said most of the people there either got immediate top tier employment or else couldn't get a job forever. I hear USC has a great program. Not sure about NYU or Cornell but there seems to be a lot of people questioning whether or not NYU is a good program. I haven't seen anything about Cornell. People say MIT has a lot of math - not really sure what that has to do with planning or development. Have heard good things about Clemson and ASU.
Are the rankings for real estate programs included in the planitizen guides or are those only for planning?
Comment #25 Posted By: Brad 07/25/08
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