If I am interested in selling commercial real estate, which Masters Program would be recommended - Masters of Real Estate or Masters of Land and Property Development?

I think it's important for you to clarify- mostly to yourself- what you actually want to do.

Are you interested in actually SELLING commercial real estate? Like do you want to be on the business side of things? If so, the MRE program is through Mays and is the route you need to go.

Or are you more interested in developing commercial real estate and letting someone else do the face to face selling for you? If so, I'd go with MLPD, which is actually offered through the college of Architecture. It has a focus on the physical development with a few business courses thrown in to help develop a more rounded person. But it's not a "business" degree.

With that said, both programs share some of the same courses. But where they deviate is the MRE students focus more on the business side and the MLPD students focus more on the construction/planning side. It's akin to being a CEO, who has some basic knowledge of accounting, marketing, etc. but has teams of people with focused degrees in accounting to handle the workload.

Fellow MRE here. You don't need a masters to be a "Broker" technically all you really need is your Sales Agent License (same as a realtor). The MRE program will open doors for you and get you plugged in, however if you want to land a gig at one of the big shops (CBRE, JLL, Cushman, etc) it's tough unless you have solid connections. It seems that you want to go into the Capital Markets/Investment Sales side of brokerage. In that case MRE will benefit by giving you the foundation to model and value income producing real estate. Happy to get on the phone and discuss further if you'd like.

Also in Brokerage it's all about the team you're on. I would want to work for the top producers in their respective markets/asset class. It's a grind at first but once you're established it can be rewarding.

MRE grad here as well, it's a solid program that really helps you get on your feet as the other have mentioned. But it is geared more towards ops and the financial side of things, MLPD is definitely more development oriented. Both are great programs, and in some cases people do get both. Nobody is making more land, so if your're gonna spend money on a masters education its a damn good route either way.

You also don't need a masters to get into land development, though it definitely helps. Both programs on a resume can get you into a lot of real estate related doors.

If you want to be a broker though, save yourself the money and time, get a job in commercial appraisal, spend 2-3 years learning the ins and outs of commercial property, ownership rights, and valuating the different sectors. Either that, or do an internship at one of the large firms. They love hiring former interns.

flyingaggie12 said:

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Fellow MRE here. You don't need a masters to be a "Broker" technically all you really need is your Sales Agent License (same as a realtor). The MRE program will open doors for you and get you plugged in, however if you want to land a gig at one of the big shops (CBRE, JLL, Cushman, etc) it's tough unless you have solid connections. It seems that you want to go into the Capital Markets/Investment Sales side of brokerage. In that case MRE will benefit by giving you the foundation to model and value income producing real estate. Happy to get on the phone and discuss further if you'd like.

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Fellow MRE, agree with this statement. For most small shops, all you need is a license and willing to grind it out - the MRE won't matter to them since the turnover rate is so high. The big shops, you need something to differentiate yourself from the crowd and develop connections (they'll also expect a higher level of familiarity/sophistication with basic financial modeling and what goes into value).

MRE/MLPD have combined classes, but MRE is much more heavily geared to the finance side.

What is your background? What aspect of CRE brokerage appeals to you? I know a good amount of students who entered the program wanting to do brokerage/capital markets and realized it wasn't what they were looking for.

Feel free to DM and get in contact.

Not an MRE but married to one. This is the one field where a degree is not necessary. No one has ever asked to see my resume.

CRE is all about putting in the work. Whether you are a broker, underwriter, capital markets, construction or development; it's all about grinding it out.

Find a mentor and ask million questions. Talk to more people, be a sponge. People will recognize initiative and assertiveness and are typically willing to share advice.

Here is a good intro into starting in the industry.
https://www.youtube.com/channel/UCXVLLaHBapDimnNzS1wx2qw

HUSTLE.

Being a broker doesn't require a masters degree. You need to network your ass off chase down jobs. No one is hiring until they are, and they you'll have to chase it down. If any of this dissuades you then this is a bad move because that's the job.