About the Job
Developers deal with all things related to purchasing land for residential, commercial, and industrial use. Position requirements include negotiating land purchases, achieving zoning approval, obtaining permits, and overseeing budgets and sales teams.
What You’ll Do
Real estate developers are often the leaders in building projects and must understand networking, communication, finacing, design, construction, regulations and property management.
If real estate developers find a property with potential, then they must determine its ideal use. They research whether the area needs restaurants or shopping centers, or whether the area will become a shipping port needing structures for industrial use. Once real estate developers have decided to purchase land, they have to find investors and funding in order to pay for its development.
Many developers work with architects and engineers to create designs and plans, during which time they have to ensure that the land is zoned for what they seek to create; otherwise, rezoning is required. Real estate developers also need to bear in mind whether the area is historically preserved in any way. Ultimately, developers hire general contractors to build the structures. Once the land has been developed, developers may work with real estate agents to sell or lease the property.
Qualities and Skills Needed
Real estate developers come from a variety of backgrounds. It is common for people with business or engineering degrees to transition into becoming developers. Many postsecondary degrees in real estate development are also available.
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The average starting salary is $34,584. With experience, they can earn up to or over $125,127.