BS is Bull Shit
MS is More Shit
PHD Piled Higher and deeper in Shit
That being said. Unless you are going to be evaluating commercial properties for a Real Estate Investment Trust a degree in Real Estate is not worth your while.
From a time standpoint you are better off getting your real estate license taking an internship Position at a Marcus Millchap (National), Irving Hughes (local) Richard Ellis (National), and learning how to evaluate a deal from both a seller and a buyer standpoint. Once you can effectivly do this and you are familiar with the tools and software programs that are out there, then you will have the ability of branching out on your own.
One computere software program you might want to do a little research on is ARGUS.