Best Master's for Commercial Brokerage?

Interested in going into RE brokerage, ultimately working in commercial (optimistically office space if had to guess). Graduated from unremarkable state school and have been on/off retail work for the past few years so actual institutions are limited. Relatives have agreed to pay for any master's program and am curious what the highest ROI option would be for someone looking to ultimately end up in brokerage, ideally at a CBRE/CW/JLL type firm. Been looking at MBA (and would do RE intensive track) but would it make more sense to try and find a MSRE or even like an MS in Accounting or...?

What is the best master's for this career route?

 

Well this depends on a lot. Did you take the GMAT? What was your undergrad GPA? The pretty underwhelming work experience will make it pretty tough to get into any MBA worth going to and paying for. I'd say go for a MSRE as that's likely going to be the most cost efficient way of rebranding yourself. Check out Adventures in CRE, they have some pretty good reviews of all the well known programs.

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donaldtrumplightweight:
Thanks I'll look into it - I should've searched further before posting

Seems MBA, if it can be afforded, may be the percentage move!

i agree you're probably not going to get into a decent b-school and if you do you're still gonna be asked, in interviews, about your pre-mba experience. if i were in your shoes i would go for a sharper tool, i would get something specific like an MSRE.
 
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So first an observation... Real estate brokerage is typically not a field that has the same requirements of prestigious master's degrees that IB or REPE or other "high end" fields have. You can get hired right out of UG. Why is this? Brokerage is ultimately sales and even in supported by salary or draw, you are still driven by commissions at the end of the day.

In fact, MSRE programs (and MBAs) are going to have a lot of people in CRE brokerage wanting to get out and get into the "business of real estate". So, I would say if you want a career in CRE brokerage, go work for a brokerage firm. You would be best to start as some for of "junior" support to some real producers with real clients. You will probably find it easiest to work in landlord/tenant representation, investment sales or capital markets is possible, but not as easy without a finance background (you didn't say what your UG background was, so I'm just assuming not real estate or finance).

All that said, an MSRE is probably more valuable than an MBA (again assuming you had no RE at the UG level) as you learn, well real estate. MBAs tend to be geared around strategic management, finance, or other areas of general business. MBA with RE concentration is not a bad option, but you probably get way less RE. Plus, MSRE programs are much easier to get accepted into without high GPAs or anything else (check out NYU or Georgetown, it's not that hard to get into many of these well regarded MSRE programs).

 

From what I read it seems everything I'd learn in a MSRE would be learned on the job. Not to say that isn't also true for an MBA, but it seems that, say, 20 years down the road having an MBA would give me an edge into a management role compared to an MSRE, which would likely only get me into a RE firm in the first place?

My UG was an irrelevant B.A., but I do like the sales-oriented nature of brokerage and this, again, is something I feel an MBA would stand out long term compared to an MSRE.

Ugh I don't know either way now lol...

 
donaldtrumplightweight:
From what I read it seems everything I'd learn in a MSRE would be learned on the job.

There is some truth in this for sure, but I would think relatively low for CRE brokerage unless you are in investment sales, even there it is a very limited part of the business the broker gets to see. Appraisers probably get a better rounded view of the real estate business, by necessity, and they have to deal with all property types.

In truth, after 5+ years of graduating with any grad degree, it will be almost totally irrelevant for promotion, next jobs, etc. You will be judged on your track record and reputation, if you are falling back on a grad degree, that would not be a good thing. Yes, big firms will require a grad degree for management, but I really doubt it would matter if an MSRE, MBA, JD, or whatever.

If you want to learn the curriculum of the MBA because it interests you, then do it. If you rather learn the MSRE curriculum, go with it. I can tell you that real estate employers will generally think of an MSRE > MBA in most cases. The exceptions might be MBAs from Harvard, Wharton, etc., but if your not looking at an MBA from those type schools, the MSRE is almost always a better option. Plus, the MSRE is easier to get admitted into at many brand name schools (NYU, USC, Georgetown, and others).

 

Second this. An MBA or MSRE would likely be overkill if your goal is to work in brokerage, unless you're aiming to work for a top team in a primary market straight off the bat. If working in that type of environment isn't your primary concern (at least at this stage in your career) I would recommend networking with people in the industry and potentially getting licensed to show you're serious about it. You may also have more success focusing on retail leasing given your background working in retail. Once you've got some experience it will be easier to move around

 

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