The mission of Pratt’s Master of Science (MS) in Real Estate Practice (REP) is to educate and train students in the core discipline and skills of real estate practice. The goal of the program is to develop students with the capacity to practice the business of real estate with a focus on public/private partnership, as well as housing and urban development, with a commitment to achieving The Three E’s of sustainability—economy, equity, and environment. A key objective is to graduate students as real estate practitioners with the core skills to secure professional employment in the field of real estate business.
The Pratt Real Estate Practice (REP) program, a full-time program offered afternoons and evenings, will prepare students for an employment environment that demands flexibility on the part of real estate development practitioners and a rigorous understanding of the complexities of urban development. In the past, real estate professionals typically worked in either the public or private sector. Career trajectories for professionals today vary widely as a result of changes in the development process.
The increasing role of public-private partnerships means that real estate professionals interact with a much broader interdisciplinary team to urban development. In addition, the goals of sustainability—economic development, social equity, and environmental stewardship—are increasingly integrated into development planning. Similarly, achieving community-based development goals have become essential to the development process. Real estate professionals today thus need flexibility to practice across sectors while ensuring financial viability.
The REP program prepares graduates to seek employment in the field by complementing one of the core competencies of Pratt Institute—education in the design and development of the built environment. The Pratt School of Architecture is a key setting for educating future real estate development professionals because of the interdisciplinary character of its programs. Students in the REP program will gain in-depth understanding of the core knowledge areas of real estate development practiced across the country and will develop interdisciplinary collaborative skills within the School of Architecture academic community.