Real Estate Development

Overview of Real Estate Development

Real estate development is one of the most difficult jobs in real estate because the projects are very complex.  Real estate developers do just that; develop real estate.  They buy large amounts of land to build either commercial or residential structures. 

Real estate development projects are very complex simply because of how many different specialties are involved.  A developer often must work with architects and construction companies and coordinate between the two to complete the project.  Real estate developers must have knowledge in many different areas ranging from business management and administration to urban planning and architecture.  Because you are working on projects that require good business knowledge as well as a strong knowledge of the construction industry, it takes time to become a real estate developer.

Curriculum for Real Estate Development

There are many degrees in real estate ranging from Associate's degrees to Master's degrees in real estate development but students interested in undergraduate real estate development will take courses in both business and real estate fields that include but are not limited to:

  • Business administration
  • Real estate finance and investment
  • Business statistics
  • Real estate evaluation and appraisal
  • Basic and advanced math courses
  • Real estate principles
  • Real estate law
  • Principles in investment
  • Analysis of economies by cities/region

Real estate development requires a background in many areas and anyone interested in becoming a developer should also take classes in construction or architecture to familiarize themselves in those industries as well.

There are many paths into real estate development that graduates can take like working as a realtor or broker or applying for an entry level position with a real estate firm that may operate as a developer.  Another option is to get a property manager position.  In most of these cases, someone applying for these jobs will need a license to operate as a realtor so keep in mind that there will be licenses and exams beyond your degree that you will need to get.

How to Enroll in Real Estate Development

Many colleges offer both classroom and online courses in the real estate and business field.  Real estate development will require a background in business administration and management as well as specifically real estate courses so keep this in mind when selecting a school.

There are also many real estate seminars and webinars outside of the academic world that are very helpful.  You do not necessarily need a degree to become a licensed real estate broker but if real estate development is your goal, you will most likely need an advanced degree as well as an undergraduate degree.

Benefits and Rewards of Real Estate Development

Perusing a degree in real estate development will qualify one in many areas of both real estate and business.  With this degree, one could work as a property manager, project manager or a real estate broker.  If a person has enough capital, they can start their own firm or be a private developer and be self-employed.

Job Opportunities in Real Estate Development

The real estate industry is experience an average amount of growth compared to other industries.  The best way to get into real estate development is to get an entry level position in a development firm.  Someone with this type of degree and background can work as a property manager or a broker.  A person with this degree can also work as an appraiser or project manager.  Companies look for people with good management skills and the ability to assign realistic prices to properties.  One can also go for a Master’s in real estate development and try to go straight into the development side of real estate. Positions in this field also include project manager: construction, real estate development manager, financial controller, and commercial property manager as well as assistant management positions.

Property managers as of May 2008 were making an average of $46,130. Project Manager in construction makes an average of $68,972 annually; real estate development managers make an average of $80,497 annually, a financial controller makes an average of $82,210 annually, and a commercial property manager makes and average of $54,167 annually. If you get to the point where you are running your own real estate development firm, your annual income will depend entirely on how successfully you manage your investments.

We're sorry, we currently do not have any Online schools offering Engineering programs in Real Estate Development. We are working diligently to add more schools to our database. In the meantime, please click here to see if there are any Campus Schools in your area.

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