Global perspectives on the future of real estate education

Citation

D'Arcy, E. (2012), "Global perspectives on the future of real estate education", Journal of European Real Estate Research, Vol. 5 No. 1. https://doi.org/10.1108/jerer.2012.35905aaa.001

Global perspectives on the future of real estate education

Article Type: Editorial From: Journal of European Real Estate Research, Volume 5, Issue 1

As the 2011 President of the International Real Estate Society (IRES) I had a unique opportunity to assemble a truly global perspective on the future of real estate education through the organisation of a series of IRES panels and plenaries at the 2011 annual meetings of six of the IRES sister societies. The objective was to identify both the common factors shaping the future of real estate education on a global basis and the key regional differences in priorities. The issues examined included, changes in the structure of provision, curriculum, employability and the market for graduates and the identification of key trends shaping the future of real estate education in the region concerned. The results of this exercise can be grouped within three broad categories, opportunities, constraints and the future landscape. Considering the first category there is significant potential for the expansion of provision in most regions, with product specialisation a key trend in the regions with more mature systems of real estate education. In all regions educators recognised the benefits to their programmes of improving industry engagement. In terms of constrains the dominant traditions of provision in some regions were seen as significant barrier to change and improvement. Many participants highlighted deficiencies in educator human capital as a key problem. Others suggested that existing market structures and wider attitudes to real estate education were holding back the expansion of provision. In some regions such as Europe concerns were expressed about over-provision. A number of important issues emerged in the context of considerations of the future landscape. Foremost was a view that wider value added in education provisions especially the need to embed “employability” and the “real world” would be a key consideration in the future student choice of programme. Internationalisation both of student cohorts and the need to deliver an international focus will increasingly make global relevance a key driver of curriculum design. As part of this process it is likely that a number of global delivery platforms in real estate education incorporating a range of provision traditions will emerge. On a more negative note there will be winners and losers in markets with over-provision.

I am very grateful to all those who participated in the various panels and plenaries and to the participants at the 7th Annual European Real Estate Society (ERES) Education Seminar held at the University of Reading where the results were first presented. Moving forward the IRES education task force now has a clear blueprint of global perspectives on the future of real estate education to work from and to use as a key input on shaping future agendas on the topic.

Éamonn D’Arcy