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Residential and commercial development is constantly occurring all around the world. Thus, if you are looking for a career whose growth seems to be assured, you cannot go wrong with real estate development. However, such a job market may prove to be ultra-competitive no matter what market you wish to work in. Finding a way to stand out in a crowd of job seekers is a must. Earning a Master’s degree may help you do that.
Aside from providing you with the opportunity to extend your academic career, a Master’s degree program should also be viewed as a professional development tool. Another effective method of increasing your professional opportunities is to expand your sights to a new area. Studying abroad allows you to capitalize on both opportunities. When considering where to pursue your graduate studies, you may want to keep your focus on an area whose scholastic opportunities are strong, whose culture is unique yet still somewhat similar to your own, and whose economy is robust enough to provide job opportunities after you have graduated. Canada can offer you all three.
What is a Master’s Degree in Real Estate Development?
The real estate market is known for its volatility. Yet at the same time, it offers the chance for significant financial rewards if you are able to recognize the right opportunities and effectively track market trends. Not only does a Master’s program in real estate development teach you such skills, but it also provides you with the knowledge needed to
- Locate an area ideal for growth
- Build the foundation for a promising project
- Procure financing from either public or private capital sources
- Coordinate the efforts of local leaders and contractors to see your project through
Your ultimate goal in this career is to develop a diverse portfolio of properties for either yourself or the firm that your work for that provides reliable investment income and flexibility when markets begin to tail off.
Achieving such success requires a strong working knowledge of management principles, commercial finance, civil engineering and construction, urban and community planning and real estate law. These topics are all heavily emphasised in the coursework of almost all real estate development Master’s degree programs in Canada. Familiarity with residential and commercial markets is also a must. Therefore, many of these programs are designed specifically for individuals who are already licensed realtors. Some may require prior experience in real estate; others may not. Obtaining such a certification while pursuing your Master’s degree may give you valuable experience in sales and negotiation tactics.
Most Master’s degree programs in real estate development will take two years to complete. The first is focused primarily on coursework. The second year is typically dedicated to actually working in the market. Such opportunities are typically made possible through internships with development firms.
What Are the Benefits of Earning a Master’s Degree in Real Estate Development?
Real estate development projects can be very complex, requiring more than just the knowledge of buying and selling in the market or the latest and greatest building strategies. Rather, you need to have a comprehensive understanding of all of the different aspects of a residential or commercial development job in order to give yourself or any clients that you represent the best chance for success. The easiest and most effective pathway to acquiring that comprehension is through a Master’s program in real estate development.
Why choose to seek your real estate development Master’s degree in Canada? One reason could be the fact that the Canadian real estate market is currently trending upward. MoneySense, one of Canada’s premier financial publications, reports that 2015 was a record-breaking year for real estate. You could very well be stepping into this favorable market the moment that you finish your degree.
Your Career Choices with a Master’s in Real Estate Development
When considering the career paths that a Master’s degree in real estate development may open up to you, that one that immediately jumps out is as a real estate developer. In most cases, developers work for a private firm that is approached by clients with ideas for development. However, you could also choose to work for a contracting company managing the creation of new subdivisions, or with a city planner’s office coming up with new ideas for commercial expansion.
Continued development locally, in Canada, and throughout the rest of the world may all but assure that a rewarding career is waiting for you upon completion of your real estate development Master’s degree program. Earning that degree in Canada offers you the unique chance to hone your professional skills in a country renowned for its unique culture and landscape. The time is now to take advantage of such an opportunity.