Éamonn D Arcy Programmes Director Full-Time MSc Real Estate

Éamonn D’Arcy Programmes Director Full-Time MSc Real Estate Programmes Developing a Global Benchmark of Excellence in the Provision of Postgraduate Real Estate Education – The Case of the MSRE School of Real Estate and Planning University of Reading 19 March 2018 © Henley Business School 2008 www. henley. reading. ac. uk

Introduction • Significant Expansion in both Full-Time and Flexible modes of Postgraduate Real Estate Education since 2000 • An international trend but largely spontaneous in character • MSc/MA in Real Estate has emerged as the dominant designation • Presentation explores the potential for developing this designation as the recognised global benchmark of excellence in the provision of entry-level and post-experience postgraduate real estate education. – – common curriculum development, accreditation industry recognition potential role of ERES, ARES and IRES in developing appropriate framework to achieve this goal ERES Education Seminar Bucharest 2

Trends in Provision Numbers of Starters On RICS Accredited Courses by level of Course 2000 – 2006 Year 2000 2005 2006 UG 2949 3660 3710 PG 419 3609 4434 3368 7269 8144 13 50 54 Totals PG % Source: RICS ERES Education Seminar Bucharest 3

RICS Accredited Courses in Europe Country No of Institutions UG Courses PG Courses Austria 3 4(PT) Belgium 2 2(PT) Czech Rep 1 1(PT) Denmark 1 France 6 Germany 14 Hungary 1 Ireland 5 ERES Education Seminar Bucharest 1(FT) 3(FT) 5(PT) 3 (FT) 3(FT) 12(PT) 10(FT) 3(PT) 4

RICS Accredited Courses in Europe Country No of Institutions UG Courses PG Courses Italy 1 Netherlands 4 Poland 1 1(FT/PT) Portugal 1 1(PT) Russia 3 3(FT) Spain 2 2(PT) Switzerland 1 1(PT) UK 49 ERES Education Seminar Bucharest 1 (PT) 2(FT) 107(FT/PT) 2 (PT) 204(FT/PT) 5

Trends in Provision • RICS Universe an imperfect indicator – Many programmes outside this • Nordic Countries – Figures also include programmes in Construction • PG Provision more important everywhere – Key Growth in PG Routes in Continental Europe – Similar trends in the United States • US now has 19 MSRE type programmes (up from 4 in 2000) – Again a mixture of FT and PT routes • Also conversions from MBA format to MSRE format • UG Provision Largely confined to Countries with longstanding tradition of Real Estate Education – Ireland, UK, The Netherlands ERES Education Seminar Bucharest 6

The Rational for Creating a Global Benchmark of Excellence • Broad Objectives – Developing and promoting the value of postgraduate real estate education – Developing a global brand that transcends national boundaries but still respects the diversity of local requirements for provision – Raising the quality and consistency of provision • Sharing best practice between educators • Developing common curriculum elements and standards – Maintaining a consistent standard of industry relevance • Clear employability focus • Point of contact for dialog and relationship development with global employers ERES Education Seminar Bucharest 7

The Rational for Creating a Global Benchmark of Excellence – Adding structure to a spontaneous process • Focus in product promotion and development • Clarity for prospective students • Clarity for employers – Promoting strategic partnerships with organisations which share similar values • Professional Bodies • Industry Organisations • Academic Societies – MBA/MBM as examples of what can be achieved. ERES Education Seminar Bucharest 8

Curriculum Development • Core Elements – Key task is to identify a common core – Educator and Industry inputs vital • Electives – Specialism – Considerable scope to reflect the strengths of delivering institutions – Also, need to reflect specific market requirements • Capstone – Application and integration of core and specialism – Major project or dissertation – Again market specific skill requirements important • Delivery specific considerations FT vs. PT • ‘Soft’ Skill Development • Bologna considerations in EU context ERES Education Seminar Bucharest 9

Accreditation • Is accreditation the right word? • Need to maintain and promote product quality in line with board objectives. – How best to achieve it? • Very proscriptive or broad principals? • Employability and Industry Relevance need to be core considerations in assessing quality • Programme or Institution? ERES Education Seminar Bucharest 10

Industry Recognition • A key issue in Brand Development • Programme Employability and Market Relevance critical • The Global Four RES firm have a key input in shaping the brand. • But also need from input from a wider range of players which employ real estate graduates ERES Education Seminar Bucharest 11

Towards an International Association of MSRE Programmes • In reality a lot of similarities between existing programmes • Growth in programme numbers also a reflection of industry recognition • Key role for ERES, ARES and IRES in giving structure to this project. • Time Horizon 2 -5 years • Meetings of Programme Directors linked to ERES/ARES annual meetings the first step to begin to give structure to the process and to identify the key issues involved and the potential benefits of an association of programmes • Initially a loose association of interested programmes with the potential to develop a more structured association in the longer term. ERES Education Seminar Bucharest 12