Tips on How to Become a Real Estate Developer

If you’re interested in learning how to become a real estate developer, you’re not alone. This field has been so hot over the past few decades that even some of America’s most notable universities have begun to offer master’s degrees pertaining to it. From Columbia and Emory to the University of Michigan, real estate development has garnered its own school of learning.

Getting into this field in today’s market can be a little tricky, but it is still attainable. A lot will depend on where exactly you would like to work in real estate development. An actual developer is a person or entity that buys real estate with the idea of adding value to it prior to a sale or lease. This means not only finding and holding land, but also overseeing the construction of buildings on the property.

While many people learn to become real estate developers, few actually front the cash behind the buys. They, instead, work for firms that do. If this appeals to you, these tips can help you break into the field:

  • Examine your interests closely – Real estate developers actually have a need for a variety of specialties. Not only are skilled buyers required, but so too are those who represent a host of other trades. A development firm, for example, will also require the services of accountants, clerical workers, geologists, lawyers, negotiators, architects and so on. Sometimes a real estate developer directly hires people from these professions to work on personal staff. In other cases, they receive subcontract work. Considering the variety of jobs available that are related to real estate development, it pays to examine your interests and pursue the area that best fits your skill set.
  • Pursue the proper training – If you want to be the man or woman who actually finds and buys real estate for commercial, residential or industrial development, you might want to consider a bachelor’s or master’s degree in the field. Related field degrees are also useful.
  • Get financial backing – If it’s your notion to become a developer personally, you will need financial backing to do so. If you’re independently wealthy, you’re on the right path. Otherwise, you will need investors or bank backing.
  • Seek out jobs – Should it be your desire to learn how to become a real estate developer and work for others, you’ll need to scour the market for jobs. Look online and in trade publications for the most updated listings.

Real Estate Agent Salaries

The real estate business can be a lucrative job option. However, the job of a real estate agent may not be a full-time career option for a large number of people. Real estate agents earn a cut whenever they successfully close a deal. They do not necessarily have to follow regular office hours, as business opportunities arise when clients approach them. Real estate agents may work as individual entities or collaborate with brokers or real estate firms. In some instances they are hired as salaried employees who receive a pre-determined pay irrespective of targets.

Freelance estate agents are not likely to earn regular paychecks. Most of them may be already earning a fixed salary elsewhere and earnings from real estate deals could be a source of additional income. Such dealers earn in proportion of the amount of income generated through their service when working with a broker or firm. Most single agents are free to decide their service charges based on the type of services provided when they are working independently.

Real estate agents earn commissions based on their business volume. Their commission amount is a set percentage of the money that transfers hands when a deal is made. Such deals revolve around purchase, sale, and rentals of real estate. For this reason, it is easy to understand why agents who are involved in high volume transactions earn a proportionately high income too. Commissions earned from certain exclusive and highly valuable property could equal the sum of several regular deals. It is difficult to put a figure on the amount of money agents earn, as it is dependent on their skill, luck, and commitment to the trade.

It is possible to earn more in bigger cities in comparison to smaller townships and cities. However, gradually real estate in small townships is also boasting of an increase in business volume. Real estate jobs continue to grow at par with other job opportunities since it is an established profit-making venture that brings in profits comparable to salaried jobs.

Fort Lauderdale Real Estate

Waterfront properties that make for great vacation rentals often change hands here. Waterfront properties that are of special interest to boaters are also seen on the Fort Lauderdale real estate market from time to time. Docks with boat storage and other amenities are also put up for sale. These are also referred to as dockominiums in local parlance.

When it comes to real estate for commercial properties Fort Lauderdale also has apartments, condominiums and homes with dockspace. Those who are interested in boating facilities can choose lodging with dock facilities. Resorts, hotels and motels with dockage for boats make a lot of commercial sense. So, the prices of such properties are always on the rise.

The Fort Lauderdale real estate scene is quite organized. Florida’s insistence on licensed realtors ensures smooth proceedings in real estate deals. There are several real estate agencies that do brisk business in both sale and purchase, and rentals of homes. Vacation homes, hotels, motels and resorts are important constituents of the commercial use real estate scene. These agencies provide other services like fixing mortgage deals, relocation services and other realty services.

The downtown area and the entertainment districts in Fort Lauderdale have seen a lot of growth. The growth is apparent in the many new hotels, high rise condominiums, boutiques, malls and fine restaurants that have mushroomed all over the place. Homes in Fort Lauderdale begin around $300,000 and can go into millions of dollars.

The Fort Lauderdale real estate market is always on a high because even private homes, whatever their size, have a potential to earn money by being let out as vacation homes.