Finding the best real estate MBA program to fit your needs requires many different considerations. Prospective students may prioritize affordability in education, but conventional wisdom suggests that cheapness can imply a lack of quality. Fortunately, this reasoning does not hold water.
Many factors determine the affordability of a program beyond the flat tuition rate. To help bring down the cost of your degree, consider whether or not the school features a generous transfer policy or accepts prior learning assessments for academic credit. These potential factors and others merit consideration.
Earning an affordable MBA in real estate represents a solid financial decision, as it gives you the opportunity to boost your credentials without acquiring excess debt. Read on for our ranking of some of the best real estate MBA programs available in an affordable, online format.
How to Choose an Online MBA in Real Estate Program
If you know an MBA in real estate is right for you, begin narrowing down the list of schools that interest you most. The following list provides a few tips to help you navigate this process.
Search for Schools in Your Area
Even with online programs, it can benefit you to choose a school within a 100-mile radius of your home. Online learners often report that they enjoy visiting campus. In addition, schools often partner with local businesses to help students find jobs or internship opportunities close to home.
Compare Student Outcomes Data
Many schools provide this information on their website, but you can also contact the school and ask for it. This data should include graduation rates, employment rates, and the compensation levels of recent graduates. This information can give you a glimpse of program quality.
Online MBA Programs for You
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Estimate the Expected Costs of Your Program
Prospective students often underestimate their total program costs. Make sure you calculate the number of credit hours needed to graduate and multiply that by the cost per credit hour. Do not forget to include the cost of supplies and internet and account for lost wages. Additionally, compare financial aid options, as schools may offer different financial aid packages and/or scholarships to help offset the cost of education.
Find Classes That Fit Your Schedule
Flexibility is one of the central benefits of online education. However, some programs require set meeting times, synchronous workshops, and mandatory campus visits. Be sure you understand all time commitments and how they fit into your current schedule.
Look for Partnerships With Local Businesses
Finding a secure job with a healthy salary in a field you enjoy is the main objective in obtaining your MBA in real estate. To that end, attending a school that’s well-connected with local hospitals and businesses can prove beneficial. Many of these partners offer internships to students that can lead to full-time employment or provide the networking opportunities and experience you need to get a job elsewhere.
Make Sure the Program is Accredited
Accreditation is the formal review process that ensures a school offers a reputable program that adheres to minimum academic standards. The Association to Advance Collegiate Schools of Business (AACSB) accredits undergraduate, master’s, and doctoral programs in business and accounting. AACSB accreditation can assure you of a program’s recognition and quality. Employers generally do not hire job candidates with a degree from an unaccredited school, and schools do not accept academic credentials from an unaccredited program.
Talk to Current Students and/or Recent Alumni
One of the best resources when it comes to making the final decision on an online MBA in real estate includes reaching out to current students and graduates. They can give you an unbiased take on how the program has served them, what they liked, and what they disliked. Ask an admissions counselor to put you in touch with a current student or recent alumni.
Schools Offering an Online MBA in Real Estate
Florida State University consistently ranks as one of the nation's best business schools, according to U.S. News & World Report. FSU offers an online part-time MBA with a real estate specialization. FSU designed the program for business professionals with extensive work experience. Through the 39-credit MBA, learners can advance their managerial skills in core areas such as operations management, financial reporting, strategy and business policy, and marketing strategy in the global environment.
The nine-credit specialization focuses on real estate valuation, finance, and investment. Students pay the same tuition regardless of residency and can complete the online MBA in seven semesters. Admission to this real estate degree requires GRE or GMAT scores.
Longwood University, a public college located in central Virginia, offers a part- or full-time MBA. The 36-credit online MBA offers a concentration in real estate that prepares business professionals to lead in real estate areas such as commercial, development, and investment management. Students can acquire advanced business competencies in general areas such as managerial economics, financial management, and leadership and team-building.
The concentration covers topics such as real estate appraisal, economics and development, real estate law, and taxation. Students can supplement the online curriculum with on-campus residencies, held one weekend each summer. Admission to this real estate degree requires a minimum 2.75 GPA and the GMAT or GRE, with some waivers available.
The University of Texas at Dallas
The University of Texas at Dallas offers a suite of MBA programs tailored to meet the needs of working professionals. Distance learners can choose the 53-credit online professional MBA with no residency requirement. The program provides a broad base of advanced business education and the option to specialize with one of 15 concentrations, including real estate.
The MBA core covers subjects such as financial accounting, operations management, and financial management. The 12-credit concentration immerses students in the real estate business with courses in real estate finance and investment, law and contracts, and real estate market analysis and investment. Students can complete this real estate degree flexibly in 16-72 months. Admission requires the GRE or GMAT.