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.
Students will also be able to:
- Earn substantial credits towards the Certified Commercial Investment Member (CCIM) designation and will be able to waive 3 of the 4 core CCIM courses
- Satisfy a substantial portion of courses for the Appraisal Institute’s MAI designation
- Become a student member of the International Council of Shopping Centers (ICSC)
- Be granted membership to the Royal Institution of Chartered Surveyors (RICS)
- Have a streamlined pathway to the RICS credentialing process, bypassing the five years of relevant experience typically required by the organization
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.
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 accreditedschools 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.
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
According to the National Association of Realtors, 35 percent of REALTORS® practicing commercial real estate have seen a rise in international clients in the past five years. Employment of real estate brokers and sales agents is projected to grow 6 percent from now until 2026 (U.S. Bureau of Labor Statistics). Graduates of FIU’s online MSIRE program are qualified to succeed in the real estate market and the growing global real estate arena. Here’s a snapshot of U.S. jobs and what the top 10 percent earn*:
Financial Analysts $165,100.
Real Estate Brokers and Sales Agents $162,260.
Loan Officers $132,290.
Insurance Underwriters $121,430.
Property and Community Association Managers $126,390.
Market Research Analysts $121,720.
Appraisers and Assessors $97,120.
- Source: Occupational Handbook, Bureau of Labor Statistics.
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.
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
The course emphasizes measuring risk and rate of return under conditions of uncertainty in real estate investment decision-making. Simulation is used to face the problems of matching investment strategy to the physical property, leverage, income taxation, and organizational alternatives.
Real Estate Development >REE 6715
Operation of real estate markets related to development; land use and development decision-making; the development process; real estate feasibility studies, applied to specific real estate projects.
Real Estate Finance >REE 6209
This course explores financial analysis and structuring of real estate projects; traditional and creative concepts and mechanisms for construction financing and permanent financing of residential and income-producing property.
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, Institutions and Practices >REE 6045
This course is designed to introduce the student to the nature, principles, and advanced fundamental and analytical practices of the real estate industry.
Seminar in International Real Estate >REE 6935
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.
Real Estate Law >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 Real Estate Capital Markets >REE 6317
This course is designed to provide MSIRE students with the knowledge of real estate capital markets and primarily focuses on the theory and operation of the mortgage-backed securities (MBS) and the markets for structured real estate debt, REITs and real estate equity derivatives. These markets have developed rapidly and become immensely important for both residential and commercial real estate. The course provides students, who have a potential interest in becoming professionals in the field, with a solid understanding of these theoretical and institutional developments and the policy implications associated with their evolution and application. After a brief historical introduction, the first part of the course will focus on the technical analysis of mortgages and mortgage products. The second part of the course will be an in-depth examination of the residential and commercial mortgage-backed securities (RMBS and CMBS) and other related vehicles and derivative products. The third part of the course will focus on investment analysis of private real estate markets. The last part of the course will turn to real estate equity financing vehicle such as REITs and real estate equity derivatives.
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 $200 admission deposit, which is deducted from the total program cost.
Hold a bachelor’s degree from an accredited college or university (a business degree is not required).
Have a 3.0 grade point average (GPA) or better on upper-division coursework.
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.
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:
Florida International University
11200 SW 8th Street, MANGO 540
Miami, FL 33199
A 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.
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:
Internet-based (iBT): 80
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).
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 $200 admission deposit, 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.
MSIRE Online and Industry Scholarships
For information on program-specific and industry scholarships, as well as other scholarship opportunities, please click here.
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/.
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.
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 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.
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.
30 Credits Required
$28,000.00 In-State Tuition Cost
$30,000.00 Out-of-State Tuition
* Total tuition and fees are subject to change.
- 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
- Program ranked #1 in the world for faculty real estate research by the Journal of Real Estate Literature
- Journal of Real Estate Literature’s Real Estate Academic Leadership rankings placed the Hollo School of Real Estate and Jerome Bain Real Estate Institute #1 in the U.S. and #1 globally for its faculty’s real estate research.
- #14 Best Online Graduate Business Programs (U.S. News and World Report’s Best Online Program Ranking)