FAQ
Answers to your frequently asked questions about the Master's degree program in real estate
- What is the length of the MSRED program?
- What is the average age of a student in the MSRED program?
- What does the admissions committee look for in an applicant?
- Do I still have to take the GMAT if I already have an advanced degree and substantial work experience?
- Do you have a minimum GMAT score requirement?
- I'm an international student, but I went to college in the US, can I get a TOEFL waiver?
- Is it possible to place out of a core course?
- Can I take courses outside of MIT?
- How many applications does the Center receive each year and how many students do you accept into the MSRED program?
- What advice would you give someone who is trying to decide between an MBA and the MSRED program?
- What are some of the positions your graduates accept upon completion of the MSRED program?
- Is it possible to get a PhD in Real Estate Development?
- What is the procedure for enrolling in a dual degree program?
- Is it possible to pursue the MSRED online or on a part-time basis?
- When is the application deadline?
- Do the professional development courses count towards an MSRED?
- Does the Center offer deferrals?
- I have been out of school for a long time and am not able to obtain an academic recommendation. Will the admissions committee accept a professional recommendation instead?
- Does the Center offer any financial assistance or fellowships?
What is the length of the MSRED program?
The program is structured to be completed in 11 months of intensive study. Students are required to take a minimum of four courses during fall and spring terms, eight in total, and complete the thesis during the summer term. There is a two-week Orientation period before classes begin in the fall.
What is the average age of a student in the MSRED program?
Although each class is quite diverse among male, female, geographic distribution, minority, and work and academic backgrounds, the average age is usually 29-30 years.
What does the admissions committee look for in an applicant?
The admissions committee is especially interested in candidates who are well rounded in terms of their real estate experience, academic ability, personality and character, and professional promise. It is important to note that the committee will evaluate all admission requirements equally.
Do I still have to take the GMAT if I already have an advanced degree and substantial work experience?
The GMAT is required of ALL applicants, regardless of their previous educational or professional experience. No exceptions please.
Do you have a minimum GMAT score requirement?
While it is important to do well on the GMAT, we do not have a minimum score. The GMAT exam is required for admission to the MSRED program and combined with prior academic performance serves as a guide to the admissions committee in determining an applicant's academic potential in coursework at MIT. Although we don't recommend taking a "prep" course for the GMAT, some applicants have found them useful. We do not accept the GRE or the LSAT. Applicants must take the GMAT no later than January in order to receive an official score by February 15. If the GMAT is taken multiple times, please note that we will only accept the most recent score.
I'm an international student, but I went to college in the US, can I get a TOEFL waiver?
The TOEFL is required if the first spoken language is not English.
Is it possible to place out of a core course?
In certain cases where someone has extensive educational
training in a specific area such
as real estate law, architecture
and design,
construction and management they may be able to place out of a class.
Students who place out may take courses
in any department of MIT. The most
popular are courses at The Sloan
School of Management, Urban Studies
and Planning, and Civil and Environmental
Engineering.
Can I take courses outside of MIT?
MIT has a cross-registration agreement with Harvard University. Many students have taken classes at the Kennedy School, the Graduate School of Design or the Business School.
How many applications does the Center receive each year and how many students do you accept into the MSRED program?
We receive between 130-150 applications each year. We accept 35-40 students. We also have a small number of dual degree students who apply to the program from other departments at MIT.
What advice would you give someone who is trying to decide between an MBA and the MSRED program?
The determining factor is whether you have a general interest in business. If you are interested in getting general information about marketing, accounting, quantitative methods or any of the other general business courses you would be required to take your first year, an MBA may be for you. However, if you are committed to a career in real estate and would like an intense, one-year, broad-based yet real estate focused experience, the MSRED might be more appropriate. The advantages of the MSRED program are:
- more RE courses;
- shorter duration (1 year vs. 2 years);
- tremendous network between alums/member companies.
See our choice chart, "MSRED or MBA?".
What are some of the positions your graduates accept upon completion of the MSRED program?
The real estate industry is diverse and so are the positions assumed by Center graduates. Graduates go into project management, acquisitions, finance, asset management, investment management, etc. See a very partial list of employers and both full-length profiles of graduate career paths and short examples of the jobs alumni hold.
Is it possible to get a PhD in Real Estate Development?
The Center for Real Estate does not officially offer a PHD degree. Students who are interested in a PHD degree with a Real Estate focus must apply and enroll in the PhD programs of one of the several departments at MIT that are affiliated with the Center for Real Estate. These include the Departments of Urban Planning, Economics, and the Sloan School of Management.
What is the procedure for enrolling in a dual degree program?
In order to pursue a dual degree program at MIT, you need to apply to each program separately. Once admitted, you must then satisfy the requirements of both programs in order to receive both degrees. Normally, students complete a dual degree program in two years plus one additional term.
Is it possible to pursue the MSRED online or on a part-time basis?
No. Like all MIT programs, the MSRED is a full-time, on-campus program. We currently do not offer distance learning.
When is the application deadline?
The deadline is February 15th every year for the following September.
Do the professional development courses count towards an MSRED?
No, the Professional Development Courses are part of our Continuing Education Program and you do not receive credit for them. Much of the material covered in these courses derives from the core courses in the MSRED program.
Does the Center offer deferrals?
No. If an applicant is not admitted for a specific year, they can re-apply to the program again. The re-application process is explained in our instructions for applicants. Application Procedure
I have been out of school for a long time and am not able to obtain an academic recommendation. Will the admissions committee accept a professional recommendation instead?
Of the three required letters of recommendation it is preferred that one be from a former professor, however, if this is not possible to obtain, we will accept a professional recommendation.
Does the Center offer any financial assistance or fellowships?
Scholarships
MIT/CRE Public Sector Scholarship/Minority Fellowship
In order to encourage graduates to pursue public and non‑profit sector careers, the Center has established a special program under which student loans may be partially forgiven. This scholarship is awarded after the student has completed the MSRED program and accepted a full-time public-sector or non-profit position. Minority fellowship may be available on a need basis.Fellowships
Fellowships are at the discretion of the funding source and are not necessarily offered on an annual basis. The Center makes every effort to pursue Fellowships and Awards for which our students are eligible and is often called upon to make recommendations for such awards.
Fellowships awarded in 2004-2005: The Thomas J. Geraghty Memorial Fellowship ($3,000), MIT/CRE Public Sector Scholarship ($10,000), MIT/CRE Minority Fellowship ($5,000), Heather Smith Memorial Fund ($20,000), ULI Scholarship ($5,000), AACRE Thesis Award ($1,500).
