What personal qualities, tools, knowledge areas does a real estate developer need to excel at to become successful?
I am exploring career options right now for my eventual separation from the military. Real Estate as an idea has always been a part of my life as my father and mother run a boutique architecture firm in NYC and their chatter and discussions were a normal part of dinner. I never seriously considered that this might be a path I would go down but I have been doing serious thinking and it seems more and more of a possibility. #engineering #finance #architect #real-estate #construction #real-estate-development
4 answers
Jim’s Answer
Developers are the ultimate networkers, always tapping into the evolving trends and tactics. To begin your networking, I recommend discussing the role of developer in the eyes of the architect. Once you get their input, they can refer you to lawyers, brokers, interior designers, contractors, engineers, lenders, accountants, etc . . . each of these niches will have their unique relationship with the developer and have their own sense of what makes a developer effective (and/or ineffective). After considerable networking, you will build your own sense of the role of developer and whether you're suited to pursue that goal or work within one of the many niches that supports the developer.
Daniela Silva
Daniela’s Answer
Tony,
Many professionals in this occupation have a bachelor's degree and begin their careers in real estate or in a planning or consulting role.
While earning a bachelor's degree is an important step in becoming a real estate developer, this degree doesn't have to be in a specific subject. Several majors include the courses that can help aspiring real estate developers build the skills necessary for the role. Relevant subjects include civil engineering, business and management. A degree in civil engineering can be valuable since it can help students learn how things are built. Programs in business or management can help students develop logical reasoning skills, critical thinking and analytical abilities, in addition to learning about modern management practices.
Although certification is voluntary, one can explore the Realtors Land Institute's Accredited Land Consultant (ALC) credential. To qualify, individuals must submit several pieces of documentation. Some of the requirements include an active real estate license, Institute membership for at least six months and a minimum of three years of real estate experience in areas like real estate sales, brokerage or development. Additionally, applicants must complete courses through Land University and pass an exam. The ALC designation is valid as long as Institute membership is kept active.
The Commercial Real Estate Development Association (NAIOP) has programs resulting in a Certificate of Advanced Study in Real Estate Development and a Certificate of Advanced Study in Real Estate Finance. To achieve these certifications, one must take a required number of courses. These courses range from advanced development practices, real estate law and land use policy, advanced real estate finance and financial analysis of development projects.
http://study.com/articles/How_to_Become_a_Real_Estate_Developer_Education_and_Career_Roadmap.html
Success in the new career!
Ivan’s Answer
finance architect real-estate construction real-estate-development