I recently graduated in May with a BBA in CIS, with no CRE experience, and not the most marketable GPA. I have had a few interviews with some pretty solid firms but nothing has come to fruition. I currently have a few more decent opportunities but if I don't land any of those, I'm thinking the online Georgetown MRE could be a good option. Everything I have read has been solid and seems like a great program. My thinking is that if I can get admitted, I could take courses starting in the spring semester and start looking for a good summer internship as soon as I get admitted. So basically I could use this program to rebrand myself and land something in the summer. I feel like at my age and with my current low expenses, this could be a great time to go this route. Any input is greatly appreciated.
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It's a very strong program. That said, you will benefit infinitely more from it with at least a year of experience under your belt.
Edit: Hah, thanks for the monkey shit kids, but as someone who went through a MRED program, and someone who now hires MRED grads, I can promise you that experience before real estate masters programs will make a world of difference in your job hunt.
Yes about 1/3 of my class at my MRED program was straight out of UG as well. (the other two thirds being people with a couple years of experience and career switchers with a couple years as a GC or an architect). The people straight out of undergrad got worse internships and worse jobs starting out and had to have things like "cap rates" explained to them.
You most certainly can get an MRED straight out of undergrad. It doesn't mean you should.
Now in your case, because Georgetown can be taken part time while working, if you get a solid job you should be fine starting now because you'll learn both in the day at your job and at night in class.
This comment related to Georgetown's online-only Master's in Real Estate program only - I'm completing the program from another state, and do not know what the on-campus program is like.
I'm currently enrolled, and am about halfway through the program. You are severely limited in your course selection, especially if you want to specialize in Development or Finance - forget about taking any classes on taxation or private equity funds. The online format feels like a giant money grab. In my experience, you're not going to learn anything that you can't find on PropertyMetrics or A.CRE, or that you can't learn by simply reading Poorvu's book, The Real Estate Game, or Linneman's book, Real Estate Finance & Investment.
It's structured as 8-week modules, so you're effectively doing a deep-dive series into each topic. Each course is structured as follows:
There is no engagement with the professors, other than a few words of feedback accompanying your grade (although Prof. Bolger [Ethics Class] did provide some excellent write-ups she shared with the class). I've even experienced a professor go MIA for 3-4 weeks during a course. A few of the professors are decently organized, but the majority presented their course materials in a very chaotic fashion, which seemed very disrespectful, given that we paid $4,000+ per class.
There are some very short videos that provide high-level overviews in some of the courses, but they lack sufficient information to really support proper learning. The speaker in these videos isn't even the professor, but a current (or former) adjunct - there seems to be a large disconnect between the 2-4 minute videos, and the actually objective for each course. I've taken much more valuable courses via Coursera and edX at a fraction of the cost.
The online program seems to lack any actual instruction, but rather provides you a $45,000 opportunity to try your hand at being a Development Associate, in exchange for a grade. If you're looking for an advanced degree in order to pad your resume, then the online program may be for you. But if you're looking for a real learning experience, as well as an opportunity to meet lifelong connections (arguably the most valuable), then I'd keep looking, and strongly consider an in-person program (as much as night school may suck).
How many hours/week is required for the PT Georgetown MSRE (assuming you have industry experience)?
Four hours a week if you don’t care, six hours a week to make sure you get an A in the course, 8-10 hours a week to actually learn something
Many have recommended you get experience first and as a current student I wholeheartedly agree. You'll understand and will be able to apply what you are learning to the real world much more and will have better exit ops if you have good experience going in. To be blatantly clear and somewhat redundant...as I think this may be easy to look past when you are searching online and hoping the program is the answer...consider the following very carefully: Your job prospects now without the program will be very similar to your prospects after completing the program if you don't have experience first. The MPSRE will not qualify you for anything other than entry level roles (most of which are already accessible to you if you network hard) without prior experience, ideally 1-3 years. The exception would be if you networked into a role through a classmate or professor. If you plan to take the course online that is highly unlikely and I wouldn't at all endorse taking it on campus without experience just for that one potential benefit. If you just want to get a masters and learn and don't have to worry about debt, then sure. You'll get some benefit, it just won't justify the cost or time in my personal opinion.
My recommendation would be to pound pavement and find an entry level role in the field that interests you most. Network hard and be persistent. Be clear on why you want the job and have your story down so an interviewer can clearly see that you are passionate and committed to the industry, to the firm, and to the geographic area you are applying in. With limited experience, analyst roles in investment sales or capital markets will likely be your most accessible options that will still afford exit ops that will allow you to transition your real estate career in almost any direction. You likely have already explored these positions without success. I'd encourage you to stay positive and keep trying, you can definitely land one of those roles without a masters and there is no guarantee you will if you have one. Other sides of brokerage (tenant rep, leasing, etc) will be accessible and can provide experience, but they will not provide the quantitative experience necessary to transition out of brokerage easily if that is important to you long term.