Online master degree real estate

cornell real-estate program provides more tools

ITHACA - Among the many courses of Study at Cornell University, there is a program devoted entirely to mastering the ins and outs of real estate.

"This came from the industry itself," says Brad Olson, the director of the prograin. "Graduates from Cornell who were making a living in real estate noticed a need for more advanced education. They, as a group, prevailed upon Cornell and New York State to have a master of professional study in real estate."

Started in 1996, the Master of Professional Study (MPS) in Real Estate is a two-year, four-semester program with a summer internship in between. Courses include real-estate principles, or the basics of real estate; real-estate finance and investment; real-estate development process; real-estate marketing and management; real-estate managerial finance; residential development; and real-estate law.

There are 40 students currently enrolled in the program, Which Costs just under $60,000 to complete. The Course is not offered online, requiring Students to live oncampus for at least three semesters to complete the 62 credit hours.

Students hail from all over the world, including Taiwan, India, and Korea, as well as from around the United States. "It's expensive," Olson admits, "but the people who come here really want and need to do it. They're a highly energetic group."

Brian Mings is a first-year student. He graduated with a bachelor's degree in construction management from Purdue University a few years ago, and while out in the work force, he realized he had "only a fairly small piece of the overall picture." He discovered Cornell's MPS program and decided to apply. "I discovered there's a lot more [to real estate] than what I could pick up on the job," Mings says.

The goal of the program is not to create an army of real-estate agents, but rather to give students the knowledge to do a variety of jobs that involve the industry. Alumni of the program have gone on to consulting businesses, major development companies, real-estate finance on Wall Street, and some have started their own businesses.

"[The prograrm] gives them a chance to build a strong foundation on the fundamentals of the business," Olson notes.

The average age of students tends to be around 30 years old. Most students are men, and Olson says he would like to see more women involved in the program.

The "freestanding, inter-disciplinary" program draws 21

instructors from six of Cornell's schools. Some of the

professors have worked in the real-estate profession prior to

teaching, while the rest come from other areas. Realestate

law, for example, is taught by a practicing attorney in Ithaca.

Alumni have come back to the program, through weekly seminars, to tell current students about their experiences.

Olson says that the program appeals to those who already have career and work experience in real estate in some form. tie, adds that one alumnus said, during his seminar that the program "gave his career a fast forward."

In order to apply for the program, three things are needed. These include a personal statement, two references, and the scores from the graduate management aptitude test. "We are looking for people with enough background and motivation," Olson says. Prospective students can apply online at their Web site, www.realestate.cornell.edu.

"The breadth of course offerings opens your eyes to what else is out there," Mings says. "It gives you a lot of base knowledge so you can go into any situation and feel comfortable. I feel like I can hit the ground running."