Commercial real estate developers obtain land and prepare it for development, while holding an investment in the property. Commercial real estate developers also manage the construction process and negotiate any negotiations with the public.
If you want to become a real estate developer, you’ll most likely have to follow the following steps:
- Earn Your Bachelor’s Degree
Most commercial real estate developers earn a Bachelor’s degree at least, though the subject matter is less important. Civil engineering, management and business can all be good paths to follow, and a combination of all three can be a great way for potential real estate developers to get a leg up on the competition. College students interested in this field should also take classes that enhance communication skills.
- Gain Real Estate Experience
After graduating (or during college) it’s important to get as much experience as possible in a related field like real estate. There are plenty of entry-level positions that relate to buying, selling and developing real estate, and planning and consulting jobs can also help prepare a person for real estate development.
- Think About a Master’s Degree
Master’s programs go beyond the basics and can teach students about the real world problems that real estate developers face. This can include design work, city planning, public law, and regulations related to land and the environment. Master’s programs can be a great way for a person to go into real estate development completely prepared.
- Pursue Certification
Certification isn’t required to practice real estate development, but the Realtors Land Institute’s Accredited Land Consultant (ALC) credential can give a developer an advantage. The certification requires documentation like Institute membership, a real estate licence, and at least three years of real estate experience. Applicants must also complete an exam.
- Consider Continuing Education
There are plenty of classes and certificates available to real estate developers who want to advance their knowledge. Class subjects can range from real estate law to land use policy to financial analysis. Pursuing these opportunities is a great way to get ahead.
People take many paths to their career, and there’s no one route that’s right for everyone. Follow the path that feels right to you!