Real estate education: an investigation of multiple stakeholders

Abstract

Purpose-This paper seeks to report the detailed findings of a Centre for Education in the Built Environment (CEBE) funded study into real estate programmes of study in UK universities. The aim is to critically evaluate the gaps in the professional practice firm employers' expectations of real estate graduates, real estate graduates' perceptions of what they attained during their studies and universities' views of the content of Royal Institution of Chartered Surveyors (RICS) accredited real estate courses. Design/methodology/approach-The paper presents the research findings from questionnaire surveys of professional practice firm employers and graduates and of interviews with RICS accredited courses providers and with the human resource managers of major surveying firms. Findings-The findings of the questionnaire survey should provide some comfort to real estate education providers since the top employer rated knowledge and skills are by and large found in most programmes of study. Universities would argue that they cannot actually do much about the personal attributes that graduates possess. There are significant differences in the views of employers and graduates and the only area of knowledge in which graduates currently exceed the requirements of employers is "research methods". The comments made by both groups suggest that practical experience is considered to be missing from courses but most universities would not see this as one of their principal areas of responsibility. The RICS accredited course directors mentioned that they provide alternative simulated work experience for students. Apart from practical experience, the human resource managers also raised concerns about graduates' levels of commercial awareness. Practical implications-The findings of this research will enable those designing real estate programmes of study in real estate in the UK and around the world to ensure that their curricula are current and relevant to the needs of employers, from a UK perspective. Originality/value-The paper presents the findings of questionnaire surveys of employers and graduates and of interviews with RICS accredited courses providers and human resource managers, which suggest that employers and graduates would like to see more practical skills and knowledge incorporated within university curricula.

Commercial awareness in real estate courses

“…"Ability to update professional knowledge" was also identified overall as the most important attribute for real estate graduates in previous research (see Poon et al, 2011).…”

“…This project, funded by the Royal Institution of Chartered Surveyors (RICS) Research Trust, aims to fill the gap and evaluate how commercial awareness is developed in real estate graduates. This research idea stems from a project completed by the author (see Poon et al, 2011). Findings of the previous research indicate that "commercial awareness" is rated as being very important by employers, but is an area with which they are not satisfied by graduates' performance and indicate enhanced development is required.…”

Using constructive alignment to improve student research and writing skills: a case study of a master's program in real estate management

“…D' Arcy and Taltavull (2009) argue that real estate graduates need to develop new competencies to meet the new market realities. Galuppo and Worzala (2004) and Poon et al (2011) observe that there is an emerging consensus in the research community of the need to integrate real estate knowledge with professional skills. Furthermore, The Swedish University degree requirements include the ability of students especially at the postgraduate level to, clearly demonstrate an ability to holistically, critically, independently and creatively identify, formulate and manage complex issues and to participate in research and development and thereby contribute to knowledge development.…”

A Study of the Impacts of Variable Factors on Built Environment Graduates’ Prospects

“…Practical or pre-graduate work experience is an important factor for graduate employability and supporting graduates' transition from university to employment (Poon & Brownlow, 2014;Poon et al, 2011). Practical experience defined in the previous literature includes different types of work experience which provides an indicator of the graduates' work ethics and may be translated to transferrable skills for any type of future employment, and not necessarily related to the subject the graduates studied.…”

“…Poon et al (2011) used a mixed method approach, which included conducting questionnaire surveys with real estate professional practice employers and graduates, and interviews with RICS accredited course providers and the human resource managers of major surveying firms in the UK. One of the research findings from the questionnaire surveys suggested that both employers and graduates would like to see more practical skills and knowledge incorporated within the university curricula of real estate courses.…”