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Pursuing a Master's program is no simple feat. Besides finding the right program and weighing its financial costs, choosing a graduate program also requires time. With plenty of traditional Master of Architecture programs, MIT and its Center for Real Estate offer a unique one-year Master of Science program in Real Estate Development (MSRED). 

This intensive graduate program provides a comprehensive approach to traditional real estate and MBA programs. The Center prides itself in preparing its students to "compete in the global market with superior qualifications — providing the research-based expertise necessary to solve complex problems in contemporary real estate." Its 33-year history not only investigates real estate as a practice but also brings a multidisciplinary approach to the field from "design and development to construction, management, finance, and law."

To provide more insight into the program, we connected with MIT's Center for Real Estate to learn more.

*MIT’s Master of Science in Real Estate Development (MSRED) is the most concentrated, science-based graduate degree in real estate available. Launched in 1983 by the MIT Center for Real Estate, the MSRED is the first one-year degree of its kind, fulfilling a need for specialized education beyond the scope of the traditional MBA. The MSRED prepares men and women to compete in the global market with superior qualifications — providing the research-based expertise necessary to solve complex problems in contemporary real estate.

2020 and 2021 have forced schools to reflect on how they can improve their programs and shape their curriculum to create graduates ready to tackle real-world issues. From housing initiatives, reinventing retail properties, and adaptive reuse for the hospitality market, MIT's MSRED program has produced student thesis projects that analyze current real estate issues while developing better approaches to reinvent industry standards. 

"Small class sizes and an emphasis on team projects help students with differing levels of experience and expertise learn from one another," explains the Center. "In the process, they forge new bonds that position them within an international real estate community, which will serve them whenever they resume their real estate careers."

According to the Center, many professionals who pursue a career in real estate acquire skills while on the job. However, the MSRED program dissects the "business of real estate" and provides a curriculum that gives its students a deeper understanding of its structure and international scope. "The industry has recognized the need for specialized education," and MIT responds with this one-year intensive program.

MIT CRE Champions Research and Leadership

Graduate programs are rigorous in their own right, so when it comes to finding the right program that challenges and fosters a multidisciplinary approach to industries like architecture, urban planning, and design, MIT's MSRED students are taught by a faculty from various departments within the school. From Economics to Architecture, Urban Studies and Planning and MIT's Sloan School of Management, the program exposes its graduates to faculty and professionals actively working in the field of real estate. "The curriculum is designed that students can achieve a comprehensive understanding of all aspects of real estate. Typically, courses combine lectures with case analysis and assignments that simulate situations encountered in the workplace," explains the Center.

Real Estate is a Multidisciplinary Practice

This Masters of Science program is unique for many reasons, but one being its timeframe for completion. It's comprised of a diverse group of students from various academic backgrounds like engineering, architecture, planning, economics, and construction, to name a few. The program is highly competitive and admits 30 full-time students each year. Each candidate must have prior work experience in the field of real estate with a minimum of 3 years of professional experience. Open to both U.S. and international students, the ongoing goal of the program is to help increase and expand its global perspective within the real estate industry.

In an interview with MIT, the Center's Samuel Tak Lee Champion Professor of Urban and Real Estate Sustainability, Siqi Zheng, discussed the importance of promoting broader perspectives in real estate. She explained that having excellent teaching and curriculum isn't enough. The success of the program, its students, and the Center comes from its commitment to research. "We need to have a strong research focus to support teaching because we need to introduce our brilliant students to the field's frontiers."  

The MSRED's application deadline is January 15th, 2022. To find out more information and apply click here. 

If you're interested in the program don't miss the school's Extended Open House. The MSRED Program hosts a week-long Extended Open House each year during the month of October. This week-long experience allows prospective applicants to “sit-in” on classes, participate in information sessions, speak with current students, faculty, and staff, and get an in-depth glance at life as an MSRED student at the Center for Real Estate. 

For information about the Closing the GAAP program, the MSRED’s volunteer-based, student-run program which provides assistance to applicants from communities historically underrepresented in higher education and the real estate industry click here.