MS in Real Estate worth it versus other designations or continuing education
I’ve been brokering CRE for two years and have been doing pretty well at it. Im debating going to school to get an MS in the beginning of 2023 and plan to get my CCIM next year which portfolio transactional requirements I’ve already completed. People with an MS or even those doing continuing educational classes often. Is an MS worth the time, why or why not? Or is there another continuing education program or designation that you would say had an equal or greater value?
[{"id": "hjuka2o", "text": "Following this.", "replies": [], "depth": 1}, {"id": "hjunp6i", "text": "I just got my MSRED and can answer some questions about it. In my opinion it\u2019s very worth it but your results will vary depending on a lot of factors including what you want to do long term, whether you\u2019re willing to take on the additional cost and lost revenue from a year or so of work, what your current technical skill set and network looks like, what school you can get into etc etc.\n\nIf you\u2019re really intent on making a big change like moving from a secondary market to a primary market or moving from brokerage into development/acquisitions/asset management then I think a MDRE/D is the best thing you can do for yourself. MBAs are far too general and no one really cares about CCIM from what I have seen. \n\nSo yeah a lot of questions you need to ask and then answer to help yourself make the right decision.", "replies": [], "depth": 1}, {"id": "hjuowmh", "text": "Absolutely not. \n\nMaybe if you wanted to be an analyst or developer and lack the financial background needed to succeed in those positions, but even then I would say you are better off finding a big shop to go work for to learn those skills. \n\nA Masters degree is for learning skills/theories that can't be learned on the job. For example, a masters in economics will help you understand the macroeconomic theories that allow you to create models for various industries. You can't make predictions if you don't understand the theories your predictions are based on.  \n\nThere isn't anything in brokering that falls into that category. Its sales with a very small amount of math. If you are getting into deals so complicated you need the more advanced math skills, you hire an analyst, you don't become one. \n\nClients don't give a shit about your designations. They mean nothing. The only thing that matters to them is what percentage you are charging, how big your \"rolodex\" is, and whatever words are going to come out of your mouth that convince them to 1) sell their building and 2) pick you over the other guy. The rest of it is just noise. \n\nInformation, not knowledge, is the most important arrow in your quiver as a good broker. Instead of trying to find classes to take, start going to city council meetings, developer panels, finance luncheons, etc. Broaden your knowledge about what is actively driving your market so you can use those things on your cold calls and in your meetings to win business. \n\nStudy the shit out of your product type. If you sell office buildings, learn how the guts of the building work. You don't need to be able to repair the furnace but you should know enough to look at a P&amp;L and be able to tell the owner that there is likely a damper stuck open somewhere because the expenses are way off in cold months.\n\nThere are two caveats to all of this. 1) Some positions or even some companies can only be broken into with an advanced degree. They are rare in brokerage - almost every hiring decision there is merit and personality based. 2) Networking. Masters programs, especially in elite schools, are amazing for their networking. But if you have a networking problem as a broker, your career is fucked anyway.", "replies": [{"id": "hjurlgf", "text": "This is very interesting, thanks for your input. I'm fresh into CRE (1.5 year) &amp; this answers many of the questions I've been internally debating.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hjuuicv", "text": "Not worth it - I went to what's considered the best program in the country and it was useless. Happy to give you more details in DM.", "replies": [{"id": "hjuwz8k", "text": "Can you explain in a general sense what made you feel that is was worthless?", "replies": [{"id": "hjux6pw", "text": "Please send me a DM - does that work? I do not want to speak poorly of any specific institution here. Thanks", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hjv5uu7", "text": "I would say not.\n\nAlthough I've played with the idea of a MSRE, ultimately decided against it and pursued a RE Certification w/specialization (I work in AM). Certifications are meant to acquire specific knowledge in a particular area. MS in Real Estate, in my opinion, has a different goal. (and the former are much cheaper)\n\nWhen I toured universities I was invited to classes to \"get the feeling\" (this was pre-covid), and the class roster was made of 85% career switchers 15% Real Estate guys. (of those 15% most were changing areas within ie: broker/acquisitions/asset management/debt&amp;equity)\n\nAs I see it, a master's degree is useful for people that are looking to get into RE and/or for **networking.** People in different industries need the practical knowledge and connections to get into a job.\n\nYou are already 'in the business' and doing well, so you are already ahead of the pack. If you need to learn something, look for either a coworker, a course, or a certification (in that order).\n\nAs some fellow redditor said, your clients call you for the information, the off market deal, asset level expertise, the *who-you-know* that can make this deal happen.  You already know how to network, otherwise you wouldn't be in brokerage.", "replies": [], "depth": 1}, {"id": "hjvile5", "text": "I went full time one year MS real estate and the build environment from the University of Denver, 72k in debt later I am a development analyst for a regional multifamily developer. If you want to stay in brokerage def not worth it, if you want to get into development, asset management, or maybe acquisitions with a big shop worth it. \n\nThe school got me an internship with a publicly traded REIT's development group which helped me land the analyst role. For me it was about transitioning out of hotel management and striving for better quality of life. I did not see a path to changing industries without education. \n\nMy current company heavily values work life balance and I am on trajectory to start getting equity splits in 3-5 years. I make zero cold calls, work on intellectually stimulating tasks, take a nap everyday and actually enjoy what I do. For every one of me, I know 3 in my cohort who didn't land a job and is back to being a tenant rep broker or property manager with 70k in debt.", "replies": [], "depth": 1}, {"id": "hjvq1nw", "text": "I got my MSRE straight out of undergrad. It gave me a major leg up getting my first jobs, and maybe helped a bit afterward. It was great for the broad foundation of knowledge it gave me and I still have a leg up on people my age because I know more than just the specialization of whatever my job may be. One thing I should\u2019ve taken advantage of was networking. My program had a deep networking pool that I never really tapped into. \n\nWith all that said, you don\u2019t *need* it. I\u2019m glad I did it because I didn\u2019t know what I wanted to do and it didn\u2019t cost me much. But if you know what you want to get into, show that you\u2019re smart and intellectually curious, and work hard, it won\u2019t be of too much use.", "replies": [], "depth": 1}, {"id": "hjvsdwj", "text": "I think you can get a more institutional job if you have a masters in RE (reit or private equity). If you plan to stay in brokerage, may not be worth it unless you want to work for a white glove firm brokering billion dollar office deals- Eastdil, etc.  I\u2019ve met people that work for blackstone or similar group without one though. So everyone\u2019s path is different.", "replies": [{"id": "hknqyyc", "text": "I have met very few people who have MSREDs at big firms - lots of MBAs not many masters in real estate. Most of the MSREDs I meet work for operators. \n\nI also dont think I\u2019ve ever looked at a leasing broker (or investment sales broker) academic credentials. Either they have a deal sheet or they don\u2019t, I don\u2019t care if they dropped out of 8th grade or graduated 1st in their class from Princeton", "replies": [], "depth": 2}], "depth": 1}, {"id": "hjx8jol", "text": "Unless you\u2019re wanting a real estate job that you cannot get otherwise, don\u2019t go to grad school.", "replies": [], "depth": 1}]