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Master of Science

Online MS in International Real Estate

Alvah H. Chapman Jr. Graduate School of Business


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.

This program is completely online, and you can earn your degree in as little as 10 or 12 months. Students 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. 

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

Why Apply?

This program is fully online. For students beginning in the Fall semester, it can be completed in 10 months. For a more flexible program, students who start the program in the Spring can earn their graduate degree in only 12 months.

Participants in this program learn from an outstanding full-time 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.

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

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 this 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 of the MSIRE program 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


This online program begins every Fall semester as a 10-month cohort and every Spring semester as a 12-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.

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.

Legal Environments of Real Estate REE 6435 
This course takes a creative interactive approach and provides lessons applicable all over the world about practical ways that real estate law impacts everyday life, from understanding what it means to sign a real estate contract like a residential lease or purchase contract, to understanding the process to buy real estate, to obtaining financing to purchase real estate and to growing wealth by managing your own real estate.

Corporate Real Estate Management REE 6932 
This course introduces students to the space end-user perspective of companies whose core business is not real estate. Corporate real estate management (CREM) aspects such as strategy alignment, workplace design, relocation, outsourcing and the service provider industry, procurement and financing of corporate facilities, asset management, internationality and sustainability are discussed with a particular focus on the latest issues and trends in CREM.

Core Finance Courses

Corporate Financial Management FIN 6406 
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. The course examines valuation concepts, capital budgeting, risk analysis, and capital structure decisions in depth.

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.


Applications are evaluated holistically based on a variety of factors. Our admissions team carefully screens each application to ensure candidates are an optimal fit for the program demands and objectives.

Once a candidate is accepted into the program, he or she will be required to submit a non-refundable $300 Professional Development Seminar fee, which is deducted from the total program cost.

Admissions Requirements

  1. Hold a bachelor’s degree from an accredited college or university (a business degree is not required).
  2. Have a 3.0 grade point average (GPA) or better on upper-division coursework.
  3. Show high promise of success in graduate studies as determined by the faculty based upon a minimum score of 500 on the Graduate Management Admission Test (GMAT) or equivalent score on the Graduate Record Exam (GRE).

An applicant can seek a GMAT / GRE Waiver under the following conditions:

  • Demonstration of at least four years of business (real estate and affiliated industries such as banking, finance, insurance, etc.) related work experience, or
  • Having an undergraduate business degree from Florida International University with an upper division grade point average (GPA) of 3.25, or higher, or
  • Having a business, economics, engineering, construction management or architecture degree from an accredited school with an upper division grade point average (GPA) of 3.25, or higher, or
  • By having already completed a graduate degree from an accredited university with a minimum grade point average (GPA) of 3.0, or by entering a business master program under a special agreement for admissions with specific foreign universities.

Admissions Documents

To apply for the program:

  • Complete the online application for admission.
  • Pay a $30 application fee. Most major credit cards are accepted. Checks or money orders are also accepted and should be made payable to Florida International University.

The following must be submitted:

  • Official Transcripts from all previously attended universities. A copy of the diploma is needed if the degree is not posted on the transcript. Transcripts 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
    11200 SW 8th Street, MANGO 540
    Miami, FL 33199
  • current resume of professional experience. (Internships and part-time employment may be included).
  • A statement of purpose describing your professional goals and reasons for pursuing this degree at Florida International University (minimum 500 words in length).
  • Official GMAT or GRE passing scores (if GMAT / GRE Waiver criteria is not met). When requesting official scores, please refer to school code 5206. GRE/GMAT scores are valid for 5 years.
  • Florida Residents: submit two proofs of Florida residency confirming that you have maintained residence in Florida for the past 12 months. Documents must be dated one year prior to the term you are seeking admissions. For a list of acceptable documents please click here.

International Students
Applicants whose studies were completed in a country whose official language is not English must demonstrate English proficiency by taking either the TOEFL or IELTS exam. View list of TOEFL / IELTS exempt countries here.

  • Official TOEFL / IELTS passing scores. When requesting official scores, please refer to FIU Institution code 5206. TOEFL / IELTS scores are valid for two years. The minimum scores for all accepted exams are as follows:
    • TOEFL
      • Paper-based: 550
      • Computer-based: 213
      • Internet-based (iBT): 80
    • IELTS: 6.5
      Applicants who hold an undergraduate or graduate degree from an institution within the United States or other English-speaking countries do not need to take an exam to demonstrate proficiency.
  • 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.
  • Certified Copy of Diploma (may be requested).

Tuition & Aid

Tuition & Aid Information

The total cost of the program is $28,000 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, 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.


There are several scholarship opportunities available for this 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.

FIU Online Academic Merit Scholarship: $3,000

FIU Online awards scholarships acknowledging academic achievement to students in select online graduate programs who exhibit strong academic credentials upon admission.  Applicant must meet ALL of the following criteria to be considered:

  • Meet all requirements for admission into the applicable online graduate program.
  • Submit application for admission into the online program as well as all application supporting documents.  
  • 3.25 GPA in upper-division undergraduate coursework.
  • Complete a scholarship application.  Deadlines vary by term.

Note: meeting any or all of the above requirements does not guarantee receipt of a scholarship. Scholarship will be applied in equal disbursements over each semester.

To apply for this academic scholarship, please contact an enrollment advisor by calling (305) 348-3125 or emailing onlineprograms@fiu.edu.  Scholarship amounts are subject to change.

College of Business Partnership Scholarships

The College of Business has partnered with various entities to offer students the ability to apply for additional scholarships.  The following scholarships are offered each term and require specific application processes:

  • ICSC Chapman Graduate School Scholarship: $5,000

At least one scholarship in the amount of $5,000 is made available by the Chapman Graduate School of Business for students affiliated with the International Council of Shopping Centers (ICSC). In order to be considered for the scholarship, contact your enrollment advisor at (305) 348-3125 or onlineprograms@fiu.edu

  • Jerome Bain Endowed Scholarship: $2,500

At least one scholarship of at least $2,500 is made available by the Jerome Bain Endowed Scholarship Fund. The award is based on merit and the recipient is selected from applicants to the MSIRE Program. Applicants are required to be from the local area including Miami Dade and Broward counties. In order to be considered for the scholarship, contact your enrollment advisor at (305) 348-3125 or onlineprograms@fiu.edu

  • Miami Realtors Chapman Graduate School Scholarship: $5,000

At least one scholarship in the amount of $5,000 is made available by the Chapman Graduate School of Business for students affiliated with Miami Realtors. In order to be considered for the scholarship, the prospective student must be a member in good standing of Miami Realtors at the time of application. To apply for this scholarship, contact your enrollment advisor at (305) 348-3125 or onlineprograms@fiu.edu

  • ULI Chapman Graduate School Scholarship: $5,000

At least one scholarship in the amount of $5,000 is made available by the Chapman Graduate School of Business for students affiliated with the Urban Land Institute (ULI) Southeast Florida/Caribbean District Council. In order to be considered for the scholarship, the prospective student must be a member in good standing of the Urban Land Institute (ULI) Southeast Florida/Caribbean District Council at the time of application. To apply for this scholarship, contact your enrollment advisor at (305) 348-3125 or onlineprograms@fiu.edu

  • Malcolm Butters Real Estate Award: $10,000-25,000

This scholarship is provided through the generosity of Mr. Malcolm Butters and is awarded at the MSIRE graduation dinner every year. The scholarship amount ranges between $10,000 to $25,000 and is disbursed to cover a portion of the student’s loans. The scholarship applicant must be from the local area including Miami Dade and Broward counties. To apply for this scholarship, contact your enrollment advisor at (305) 348-3125 or onlineprograms@fiu.edu

Academic Works

FIU offers Academic Works, a website that matches students with relevant scholarship opportunities.  Find the one that’s right for you!  Academic Works is an online scholarship application tool where FIU students can browse and apply for more than 100 scholarships, made possible by the generosity of FIU alumni and friends.  Students can apply after they are matriculated into one of our programs.  For more information visit https://give.fiu.edu/business-governance/scholarships/.

Other Resources

There are other third party resources that prospective students can access while researching on how to pay for school.  Below are various links that provide more information on financial aid and scholarship opportunities:

Federal Financial Aid

For information on Federal Financial Aid and the Free Application for Federal Student Aid (FAFSA), please visit our financial aid page.

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.

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

$28,000/ $30,000
Tuition Cost
  • 10-month fast track program (Fall start)
  • 12-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 full-time faculty of recognized real estate experts
  • Strong job prospects in a variety of real estate and real estate-related industries
  • MS in Real Estate program ranked by recent article in the Journal of Real Estate Literature as #1 in the U.S. and #2 in the world for real estate research.
  • Journal of Real Estate Literature’s Real Estate Academic Leadership rankings placed the Hollo School of Real Estate & Jerome Bain Real Estate Institute #1 in the U.S. and #2 globally for its faculty’s real estate research.
  • #46 Best Online Graduate Business Programs (U.S. News & World Report’s Best Online Program Ranking)
AACSB accredited logo

Florida International University’s College of Business is accredited by The Association to Advance Collegiate Schools of Business (AACSB International). AACSB accreditation represents the highest standard of achievement for business schools worldwide.

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