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Master of Science

International Real Estate

Alvah H. Chapman Graduate School of Business

Overview

When you are ready to take an exciting next step in your real estate career, we have the program for you to make that leap. FIU Online’s Master of Science in International Real Estate (MSIRE) combines industry fundamentals with all the phases of real estate including analysis, valuation, financing and closing a transaction. If you already have a significant background in real estate or a related field, this master’s degree will help you gain a competitive edge in making sound real estate investments.

Take the next step.

FIU Online’s MSIRE is completely online, and you can earn your degree in as little as 10 or 18 months. Students in the Master of Science in International Real Estate program will be prepared to become ARGUS-certified – a designation that dramatically increases student marketability when entering the real-estate corporate world. Many Fortune 500 companies require experience with ARGUS to work in their companies as real-estate analysts or acquisition experts.This certification is included in the tuition of the program and is taught by one of the only three professors in the state of Florida who is accredited to teach ARGUS-certified courses. 

 The Florida International University's Argus Case Competition placed third in the 2013 National Argus University Challenge. Read more.

FIU offers an unparalleled level of support from world-class faculty and professionals in the real estate industry. Students enrolled in FIU Online’s MSIRE program will also develop a strong network of professional connections with other students and alumni. 

Why Apply?

The Master of Science in International Real Estate is fully online, and can be completed in just 10 months, for students beginning the program in the Fall semester. For a more flexible program, students who start the program in the Spring can earn their graduate degree in only 18 months.

Participants in this program learn from an outstanding faculty of recognized real estate experts, and will become adept at the latest software tools for mapping and modeling geographical information, analyzing statistics, transaction history, surrounding community information and comparable market rates.

FIU's Alvah H. Chapman Graduate School of Business is AACSB-accredited. AACSB-accredited schools have the highest quality faculty, relevant and challenging curriculum, and provide educational and career opportunities that are not found at other business schools. Find out more about AACSB accreditation.

Students enrolled in graduate programs through the Alvah H. Chapman Graduate School of Business, and alumni, have access to Career Management Services. Self-assessment tools that enhance continuing development, evaluation and implementation of your personal career plans, individual student advising, résumé referrals, and much more are offered.

Degree Objectives

Upon completion of the program, you should be able to independently:

  • Apply best practices in accounting, taxation and finance to make sound real estate investments nationally and internationally
  • Use financial software to solve problems in real estate financing and investment locally and abroad
  • Apply essential concepts in real estate practices and institutions
  • Compare and contrast country specific characteristics as they impact real estate investment and financing

Industry Statistics

Graduates of the online MSIRE program are qualified to succeed in the real estate market and the growing global real estate arena. In the second quarter of 2013, the top 60 countries yielded $114 billion in transactions, with the largest global markets including Japan, Australia, the UK, Germany and France, (Property Wire, July 2013). Graduates with the MSIRE degree have entered the following fields:

  • Appraisers and Assessors
    • In 2010, the median annual wage of appraisers and assessors of real estate was $48,500.
  • Real Estate Brokers and Sales Agents
    • In 2010, the median annual wage of real estate brokers was $54,910.
  • Property, Real Estate, and Community Association Managers
    • In 2010, the median annual wage of property, real estate and community association managers was $51,480.
  • Financial Analysts
    • In 2010, the median annual wage of financial analysts was $74,350, and the top 10 percent earned more than $141,700.
  • Market Research Analysts
    • In 2010, the median annual wage of market research analysts was $60,570, and employment of market research analysts is expected to grow 41 percent from 2010 to 2020, much faster than the average for all occupations.  
  • Loan Officers
    • In 2010, the median annual wage of loan officers was $56,490.
  • Bank Underwriters
    • In 2010, the median annual wage of bank underwriters was $59,290.

- Source for all salaries is the Occupational Handbook, Bureau of Labor Statistics

Courses

The Online MSIRE program begins every Fall semester as a 10-month cohort and every Spring semester as a 18-month cohort. Cohorts are structured into “blocks” or sessions, with each block consisting of two courses and lasting approximately eight weeks.

Core Real Estate Courses

Advanced Real Estate Investments and Valuation REE 6305
This class prepares students for the evaluation of real estate as an investment. The students will be required to evidence knowledge of real estate markets and the tools used in real estate investment decision-making.

Legal Environments of Real Estate REE 4433
This course provides creative interactive approach to real estate law, and is designed to help students better understand how real estate law applies to documents and transactions. Students will also gain insight into real estate career opportunities.

Real Estate Development REE 6715
This course provides an overview of the principles of real estate development and the decision-making processes related to a successful development. Students will review the primary development product types, including land, residential, multi-family, industrial, office and mixed-use property types.

Real Estate Finance REE 6200
This course is an introduction to the fundamental concepts, principles and analytical methods of real estate finance. The focus will be on commercial real estate capital markets, while various aspects of residential real estate finance will be discussed.

Real Estate Market Analysis REE 6147
This course provides an overview of basic theories and principles related to real estate market analysis. It gives a hands-on introduction to the industry-standard cash flow software (ARGUS) to assess risks and returns for income-producing real estate assets.

Real Estate Markets and Institutions REE 6045
The course presents a general survey of the legal, economic, institutional, quantitative and strategic elements of real estate markets, institutions and practices. Students learn about the ownership, transfer and use of real estate.

Seminar in International Real Estate REE 6395
This course is the capstone course for the program and focuses on the environment surrounding international real estate. Topics include cultural attitudes toward ownership, legal constraints on land use, global strategic planning, foreign exchange risk and global financing.

Core Finance Courses

Corporate Financial Management FIN 3403
This class focuses on financial decision-making and its impact on the economic value of the firm. The course provides practical applications and is based on modern financial theory, with an emphasis on valuation and risk management.

Financial Markets and Institutions FIN 6246
This course presents an overview of financial markets, including the flow of funds, levels of interest rates and interest rates differentials, as well as an analysis of the institutional framework and the varied factors that have an impact on the administration of the financial institutions.

Global Financial Strategy FIN 6644
This course covers aspects of strategic financial environment and management of firms that operate in a global arena. Topics include recent developments in financial strategy, international trade and economic decision-making.

Requirements

To ensure every student’s success, we have certain admissions requirements for each of our programs. To help you through the application process, our enrollment advisors are here to answer your questions and guide you every step of the way.

Admissions Requirements

  • Four years of professional work experience (real estate and affiliated industries such as banking, finance and servicing) OR a score of at least 500 on the GMAT (www.mba.com) or 297 on the GRE (www.ets.org)
  • Four-year U.S. bachelor degree or equivalent from an accredited institution. 
  • Undergraduate grade point average (GPA) of 3.0 or higher for the last 60 hours of upper division coursework. 
  • Statement of Purpose (one-page essay describing your professional goals and reasons for pursuing a master’s degree
  • Two recommendation letters (Optional)
  • The TOEFL, a comprehensive test of English language proficiency skills, is required of all applicants whose primary language is not English and did not graduate from an English-speaking university
  • If you are an international student living outside the U.S., you do not need an F-1 student visa to complete the program. You may complete the program completely online at your home country.
  • Good standing with all previously-attended colleges and universities.

Meet one of the following

  • Four or more years of professional work experience in real estate or affiliated industries such as banking, finance and servicing. [Add] Professional experience is determined on a case-by-case basis using a resume and any requested supporting documents. Our admissions committee evaluates an individual's accomplishments, roles, and responsibilities to determine the total number of years of professional experience. FIU considers the individual's managerial responsibilities, role in setting direction and strategy, and his/her role in allocating resources. Normally, professional experience begins at the point of graduation; however, FIU may consider prior work experience based on the type of experience.

or

  • A score of 500 or higher on the GMAT (www.mba.com) or a score of 1,000 or higher on the GRE old scoring scale (www.ets.org). View equivalent scores on the new GRE scoring scale.
International Students
  • If you earned a bachelor degree in a country whose official language is not English, you must demonstrate English language proficiency by earning a passing score on the Test of English as a Foreign Language (TOEFL) or the International English Language Testing System (IELTS). View a list of TOEFL/IELTS-exempt countries. If you are an international student living outside the U.S., you do not need an F-1 student visa to complete the program. You may complete the program completely online at your home country.

Admissions Documents

The following must be submitted:

  • Online master’s programs application ($30). Be sure to select International Real Estate Online.
  • Official transcripts from all previously attended universities. A copy of the diploma is needed if the degree is not posted on the transcript. 
  • Current and detailed résumé.
  • Statement of purpose describing your professional goals and reasons for pursuing this degree at FIU (at least 500 words in length).
  • Florida residents: photocopies of 2 documents confirming that you have maintained residence in Florida for the past 12 months.

Only those applicants who have submitted complete application packets will be considered. Meeting the minimum requirements is not a guarantee of admission.

To complete the online graduate programs admissions form, select Master of International Real Estate from the application form. You may complete the online application and submit it, even before taking the GMAT, GRE or TOEFL, if required.

For application inquiries, contact us: 
Phone: 305.348.3125 or 1-(855)-FIU-Online
E-mail: ireol@fiu.edu

Official transcripts/translations must be submitted directly by the respective institution(s) in electronic format or mailed in a sealed institution envelope to:

FIU Online
Florida International University
6303 Blue Lagoon Drive
Suite 350
Miami, FL 33126

International Students
  • TOEFL / IELTS Scores. If you earned your bachelor degree in a country whose official language is not English, you must demonstrate English proficiency by taking the TOEFL or IELTS. TOEFL required minimum score: 550 (paper-based exam), 213 (computer-based), or 80 (internet-based). IELTS required minimum score: 6.5. When requesting official scores, please refer to FIU Institution code 5206. TOEFL / IELTS scores are valid for 2 years.
  • Official transcripts translation. If official transcripts are not in English, a second copy of the transcript must be requested for translation by an official translation agency. Both the official translation, as well as the original transcripts, must be submitted to FIU.
  • Unofficial supporting documents may be uploaded within the online application or submitted to your dedicated Applications Enrollment Advisor. 

Tuition

Tuition Information

The cost of tuition for the 2014-2015 academic year is $26,000 for Florida residents and $30,000 for non-Florida residents. Students pay for courses at the beginning of each semester. Please note, tuition and fee amounts vary by term and all amounts stated are subject to change.

Once a candidate is accepted into the Online MSIRE program, he or she will be required to submit a non-refundable $300 professional development seminar fee, which will be applied toward the total program cost.

Scholarships

There are several scholarship opportunities available for the Online MSIRE program. All scholarships are awarded based on applicant ability and merit. In addition to FIU’s scholarship opportunities, MSIRE students have also earned scholarships from South Florida CCIM Chapter, SIOR, Appraisal Institute and Florida Realtors.

Top Faculty

William Hardin

William Hardin
Dr. Hardin has an extensive publication record in the top real estate journals and has presented his research at major real estate and finance conferences. His areas of expertise include commercial real estate, mortgage choice and finance and real estate brokerage, finance and pricing. Prior to joining the faculty of Florida International University, Dr. Hardin held the Robert W. Warren Chair of Real Estate at Mississippi State University, where he directed both the real estate and construction management programs.

Suzanne S. Hollander

Suzanne S. Hollander 
Suzanne Hollander represents national and international owners with commercial property in Downtown Miami. She provides real estate consulting services to private clients with properties in the City of Miami and serves as the official representative to the real estate community on behalf of FIU’s Jerome Bain Real Estate Institute.

Ken Johnson

Ken Johnson
Dr. Johnson is a well-known scholar with numerous publications in real estate brokerage, transactional real estate and real estate investment. He also has over a decade of applied experience in real estate specializing in the sale of corporate- and lender-owned properties. Dr. Johnson is also a past editor of the Journal of Real Estate Practice and Education and is currently an editor of the Journal of Housing Research.

Zhonghua Wu

Zhonghua Wu
Dr. Zhonghua Wu is an assistant professor of finance and real Estate in the College of Business Administration at FIU. Dr. Wu’s research interests include real estate capital markets, commercial property markets and corporate finance. He has published research articles in numerous publications and presented his research at leading academic conferences. Prior to his academic career, Dr. Wu worked as a research associate for the National Bureau of Statistics in China.

@ A Glance


30Credits Required

$26,000/ $30,000
In-stateOut-of-state
Tuition
  • 10-month fast track program (Fall start)
  • 18-month flexible program (Spring start)
  • Preparation for ARGUS certification – a designation that dramatically increases student marketability
  • Ability to enter the real-estate world with enhanced skills
  • Outstanding faculty of recognized real estate experts
  • Strong job prospects in a variety of real estate and real estate-related industries
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