All students considering a career in real estate development are advised to talk with developers, real estate lawyers, architects, asset managers, corporate real estate directors and city planners to gain a full picture of the career options open to them and all of the educational requirements for those careers. Real estate is an increasingly complex, highly competitive, fast-paced industry, and its practitioners are often finding that they need to further their knowledge and skills to advance. A graduate degree can open doors to greater job and career opportunities and command a higher salary in the marketplace.

Generally, there are two types of degree formats: the traditional degree, which allows the students to specialize in one area of real estate (real estate, city planning, business, architecture or finance); and the interdisciplinary degree, which is focused wholly on real estate studies, including the development process. Particularly in the US for a long time, those wishing to study real estate had to content themselves with pursuing a traditional degree more commonly, a Master of Business Administration degree, perhaps with the option of concentration in real estate, and usually with a focus in finance.

Seeking to fill a gap in the scope of the traditional MBA or Master of Science in Real Estate programs, real estate development leaders across the country needed a way to education men and women to compete in the global market with superior qualifications — providing the research-based expertise necessary to solve complex problems in contemporary real estate development. In the past three decades, a number of top academic institutions in the United States have created masters degrees specifically in real estate development. Interdisciplinary degree programs are the most highly regarded in real estate education—whether one- or two-year programs that award a degree in real estate development. These programs offer students courses in all disciplines that are relevant to real estate. Students in such programs graduate with a real estate degree, such as a Master of Real Estate Development, Master of Science in Real Estate Development or Master of Science in Land Development. Typically, these programs permit the opportunity to enroll in coursework in architecture, business, engineering and design schools. Compared with the typical degree programs, real estate development degrees, however, are offered at only a handful of universities.

The Master of Real Estate Development (MRED) programs generally focus on the three main elements of real estate development; design, finance, and policy. Students are generally exposed to the full range of development functions - market analysis, finance, site planning, and project management and operations, in addition to all real estate product types - residential, retail, office, hospitality, and industrial. Whether in the context of urban redevelopment, historic preservation, or suburban growth, MRED students learn from the developer's perspective the importance of relevant issues in law, economics, finance, market analysis, negotiation, architecture, urban history, planning, and construction project management.

The programs are a full-immersion focusing on the entire real estate and development process-from dirt-to-deal, finance to façade-and include industry topics presented by leading local and national developers. The typical MRED student is a highly motivated individual who seeks to radically alter or enhance their career paths and join the real estate development industry. Students who graduate from the programs are committed to a career in real estate development.

Schools offering MRED programs can typically be completed with one full year study. Some programs as an example, the MRED program at Clemson University requires 54 credits of coursework in a full-time two year study. By contrast, the one-year MIT program focuses solely on the real estate asset and its related disciplines. Auburn University offers a two year Executive Master of Real Estate Development Program that combines short on-campus residencies each semester with distance education. The slight difference in coursework is usually contributed to additional study in general business.

The MRED programs teach the specific analytical skills necessary to succeed in all aspects of the real estate development process, whereas the traditional degree programs, such as an MBA, aims for a broad understanding of general business management. Many courses are not offered in traditional degrees programs that typically offer only two or three classes focusing on development from a developer’s perspective. The MRED does not contain classes unrelated to real estate development. Additionally, the MRED programs offer greater exposure to the working real estate experience by providing access to industry networking events and conferences. At most schools, industry experts and leaders in the field are adjunct professors.

Formal graduate education in real estate development began with the founding of the MIT Center for Real Estate in 1983. Other universities followed in establishing graduate level programs.

Traditional degrees are usually offered in real estate, business or city planning. Business degrees with real estate concentrations generally provide students with the opportunity to pursue a general management degree, but to specialize in real estate development or some segment of the real estate industry through a sequence or group of electives. For a long time, those wishing to study real estate had to content themselves with pursuing a Master of Business Administration degree, perhaps with the option of concentration in real estate, and usually with a focus in finance.

Other common professional education includes degrees in law, civil engineering, construction management or architecture.