Frequently Asked Questions

 

How many credits is the Master of Science in Real Estate program and how long does it take to complete?

The MSRE program is a 60 credit, 18 month long program that takes 5 quarters to complete if going full time.

33 credits: core courses
15 credits: chosen specialist track (finance & investment, development, or corporate real estate)
3 credits: real estate electives
9 credits: interdisciplinary electives
Internship is required
60 credits

Is it possible to go part time?

Yes, although the program will end up costing more.  Students pay the same tuition for 7-18 credits per quarter; if students take less than 7 credits they are charged per credit.

What are interdisciplinary credits?

These are credits taken outside of real estate, in a separate department, either within the College of Built Environments or across campus.

Is it possible to work while doing the program?

Yes, if you have a flexible work schedule.  We do not encourage students to work more than 20 hours a week as this is a rigorous graduate program.

Are the classes in the evening?

A majority of the classes are during the day, 2 full days a week.  However, some electives are offered in the evening.

When is the deadline for the MSRE program?

The deadline for domestic applicants is March 14th, however this is a soft deadline.  International applicants are encouraged to have their application in by November 1st.  If applicants want to be considered for scholarships, they should submit their materials by March 14th.

How does one apply?

Applicants are required to complete an online graduate school application, submit a resume, statement of purpose, and 3 letters of recommendation.  Transcripts from all undergraduate schools are also required.

How long is the admissions process?

The admissions process is typically 4-6 weeks.

Do I need a degree in business or real estate? Are there any prerequisites?

Applicants do not need a specific degree to apply.  Our students have had a wide range of backgrounds, from journalism to medicine to business.  There is a basic accounting course prereq, which can be completed within the first year of study either online, at another institution, or in the program (we offer an undergraduate accounting course).  There is also a required basic undergrad finance course for those doing the finance option.  Both accounting (required of everyone) and finance undergrad course (for finance option students) are required if these classes were not completed during undergrad.

What does the program cost?

The cost of the program is $5,987 per quarter for resident tuition and fees, $12,207 for non-resident tuition and fees.  The entire program is $29,935, $61,035 for non-resident tuition.  Here is a breakdown of the costs.  

What is the admissions committee looking for in an applicant?

Ideally we are looking for applicants that have 1-2 years of experience in real estate, however experience is not required.  A strong statement articulating why you want to obtain a MSRE degree and your goals is very important.  Our past admitted students have an average GMAT of 630 on the verbal and quantitative portions, and 50% on the writing portion.  The average GPA is 3.6.  Average experience is 1-3 years, average age is 28.

Does the Runstad Department of Real Estate offer financial support to students?

The department has several scholarships that provide minimal support to students ranging from $1,000 – $10,000 each year.  Our need based scholarships are offered to domestic students only.  International students are required to provide proof of financial ability once admitted.  We do offer several non-need based scholarships that are open to both domestic and international students.

Does the department provide internship and job placement?

An internship is required if students have not in the past or currently work in the real estate industry.  We do not place students per say, but we do help students find internships and jobs by counseling students on their goals and sharing our network of colleagues in the industry. Students are encouraged to look for internships during winter quarter of their first year.  Students can start internships at any time, but typically they are completed the summer between the first and second year.

Does the department offer classes in the summer?

No, the department does not offer classes in the summer, however it is possible to complete interdisciplinary elective credits in the summer.

What types of jobs can I expect to land once I graduate from the MSRE program?

It depends on what students are interested in and what their chosen option is (development, finance & investment, corporate real estate, or individual option).  Our alumni have gone on to work in small development firms, larger institutional finance companies, or working in corporate real estate in real estate departments of large companies such as Starbucks.