The Influence of Changes in the Workplace on Graduate Real Estate Education?

Figures & data

Table 1. Profile of survey respondents (n = 24).

Occupational Title	Percent	N
Dean	0%	0
Full Professor	46%	11
Associate Professor	29%	7
Assistant Professor	0%	0
Clinical Professor	0%	0
Lecturer	4%	1
Adjunct	0%	0
Research Center Director	0%	0
Department Chair/Director/Head	38%	9
Endowed Chair	38%	9
Other (please specify)	29%	7

Figure 1. Teaching experience of respondents (n = 25).

Figure 2. Age of real estate program (n = 25).

Table 2. Respondent by type of real estate program (n = 26).

Type of Real Estate Program	Percent	N
Stand-alone real estate program in a business school	74%	14
Stand-alone real estate program not in a business school	26%	5
Stand-alone real estate programs		19
Real estate concentration in an MBA program	33%	2
Real estate concentration in non-MBA program in a business school	0%	0
Real estate concentration not in a business school	67%	1
Real estate concentration		3
Other (please specify)		4

Table 3. Duration of real estate program (n = 26).

Duration	Part-time	Full-time	Cohort	Rolling Admissions
6-9 months	0%	4%	0%	0%
10-12 months	0%	42%	60%	0%
13-18 months	13%	29%	20%	20%
19-24 months	31%	25%	10%	10%
More than 24 months	13%	0%	0%	10%
Varies - pace depends on the student	44%	0%	10%	60%

Table 4. Student services and their importance in relation to future employment (n = 26).

Student Services	Mean Rating*
1. Networking with alumni and/or real estate professionals	1.20
2. Mentoring by industry professionals	1.36
3. Internships	1.36
4. Familiarity with industry-specific software	1.72
5. Participation in professional conferences and meetings at the local/regional/state/national level	1.76
6. Career advisor specializing in real estate	1.80
7. Participation in real estate competitions, such as the ULI Hines Competition	2.16
8. Workshops on interviewing skills	2.36
9. Workshops on resume writing	2.48
10. Career/job fair focusing on real estate	2.52
11. Online resume/position posting	2.75
12. Printed resume book/job listing	3.16

Note. A Likert scale was used to rate the importance of a given service. The scale used was a 1 for very important to a 5 for not very important.

Table 5. Most important skills and competencies for employment (n = 25).

Skill or Competency	Mean Rating*
1. Analytical problem-solving related to a wide range of real estate problems	1.13
2. Oral communication skills	1.29
3. Networking	1.33
4. Quantitative/financial analysis skills	1.38
5. Ability to work in teams	1.46
6. Ability to work individually	1.46
7. Professional writing skills	1.58
8. Project finance and management	1.58
9. Leadership and management skills	1.67
10. Negotiation skills	1.79
11. Understanding of rental market conditions and recent trends	1.92

Note. A Likert scale was used to rate the importance of a given service. The scale used was a 1 for very important to a 5 for not very important.

Table 6. The right tools for the job (n = 23).

Tool	Mean Rating*
1. Financial modeling using Excel	1.09
2. ARGUS	1.74
3. CoStar	1.96
4. GIS	2.35
5. CCIM Site to do Business	2.73
6. REIS	2.82
7. Bloomberg	2.91
8. InSite	3.00

Note. A Likert scale was used to rate the importance of a given service. The scale used was a 1 for very important to a 5 for not very important.

Table 7. Percentage of full-time students working while in school (n = 23).

Time Spent Working	Percentage of Full-Time Students	N
0%	9%	2
1%-25%	39%	9
26%-50%	17%	4
51%-75%	13%	3
76%-100%	21%	5

Table 8. Percentage of students obtaining full-time employment within a program (n = 22).

Percentage of Students with Full-Time Employment	Upon Graduating	Within 3 Months	Within 6 Months
0%	0%	0%	0%
1%-25%	0%	4%	9%
26%-50%	23%	9%	0%
51%-75%	23%	9%	0%
76%-100%	32%	52%	68%

Table 9. Real estate employment (n = 20).

Employment Area	Percent	N
Real estate development	35%	7
Commercial real estate agent/broker	15%	3
Real estate finance	15%	3
Real estate investment	10%	2
Investment banking	5%	1
Asset/portfolio management	5%	1
Not-for-profit development	5%	1
Development	5%	1
Market analysis	5%	1
Residential real estate agent/broker	0%	0
Real estate appraisal/consulting/advisory	0%	0
Property management	0%	0
Construction	0%	0
Lending	0%	0
Acquisitions	0%	0
Corporate real estate	0%	0
Project management	0%	0

Table 10. Student choice of jobs by criteria (n = 19).

Criteria	Mean Rating*
1. Reputation	1.37
2. Salary	1.58
3. Corporate culture	1.63
4. Opportunities for formal or informal learning	2.26
5. Diversity and inclusion	2.53
6. Community engagement/volunteering opportunities	2.63
7. Flexibility in terms of hours	2.72
8. Well-being programs and/or incentives	2.79
9. Flexibility in terms of the ability to work from home or elsewhere	3.11

Note. A Likert scale was used to rate the importance of a given service. The scale used was a 1 for very important to a 5 for not very important.

Table 11. Student preparedness for the fourth industrial revolution (n = 18).

Level of Preparedness	Percent	N
Very prepared	17%	3
Prepared	56%	10
Neither prepared nor unprepared	17%	3
Unprepared	0%	0
Very unprepared	0%	0
Other (please specify)	11%	2