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.