If you think that a real estate developer gobbles up land, puts buildings on it and then makes a big sale for a huge cash reward, you have the layman’s understanding of this challenging field. When the surface is scratched a little deeper, you will discover that the facts about a real estate developer job reveal a great deal more to this field than just buying and selling 26 newton.
So, what are the facts about real estate development that you might want to know if this field appeals? Here are some points that go deeper than the surface:
- Developers do more than buy and sell land – For a real estate developer to be successful, the individual or company must have a knack for market research. Not only does land have to be bought, developed and then sold or leased for money to be made, but the proposed project has to make sense in the community. Getting the correct zoning, permits and government approvals takes knowledge and know how. Making sure the developed property will actually appeal to buyers or renters is also vital.
- An individual can be a developer – Individuals all over the world can technically be categorized as real estate developers. Any time a person buys a piece of property, adds improvements to it and then sells or leases it for a profit, development has taken place. While some of the world’s most noted real estate developers are actual corporations, individuals, couples and families can also get in on the act if they have the backing to do so.
- The field demands multiple disciplines – Successful real estate development companies don’t rely on an individual’s skills alone in most cases. These firms also have a broad team of professionals onboard to help with purchases, permitting and construction. The disciplines that feed into real estate development include geology, law, market research, marketing, accounting, economics, architecture, drafting, surveying, clerical and more.
- Education is essential – If you intend to land a real estate developer job working for a firm, your degree will matter. To actually be the buying, selling and developing point person, a degree in real estate development can be a good springboard. For the sub-fields, degrees in the desired area are often a must.
A real estate developer job can provide an excellent career that is challenging and rewarding. If you’d like to explore more facts about the field, click here!