Real estate developers are the ones who purchase and sell lands with the vision to build residential, commercial, and other realty properties. Before purchasing, they have to evaluate the quality of a particular site, which can be utilized as a potential site for future purposes. They visit various sites and assess the condition of that place. Their work is focused upon the enhancement part of a particular property or site, which is nothing but property development. Usually, they work as independent real estate developers and the rest of them work for the realty companies or for the realty firms. They work as the link between the companies that want to buy land and the builders who will be handling the construction part of it. We will point out some of the job responsibilities of real estate developers as below:
Real estate developers belongs to one of the those employment sectors where their job demands them to be extremely skilled. Some of the skills are as follows:
Educational background and Training:
Interested candidates must have a high school degree followed by a four year college degree in urban planning, real estate planning and development, etc. There are various schools who exclusively specialize in real estate management. There are real estate developers who also has management degree in marketing, finance, and the kinds.
There are real estate developers who begin their career as real estate agents or brokers. The above mentioned qualifications are the entry level requirements. Along with a sufficient work experience, one can go up in the hierarchy. In the beginning, you will work with the real estate firms. Later on, one can choose to be self-employed in this sector or continue for big firms and companies. One can even specialize in a particular field of real estate such as industrial, commercial, housing and residential sites, etc.
Nature of the Work:
The working conditions of real estate developers can be challenging as well as tiring. This work demands outdoor activities unlike the usual office job. Here, you will have visit, test, and survey the sites. You will also have to deal with the architects, bankers, businessmen, potential clients, and all such professionals who are associated with the work.
Salary:
Salary of real estate developers depends upon the number of years of work experience that you have effectively put in. However, the average annual salary for the freshers starts at $40,000. It is considered as one of the most lucrative profiles in today's employment sector. On an average, the experienced professionals get paid around $90,000. Nevertheless, as this profile is all about investing money, there are also plenty of risks involved. To avoid any such kind of loss, real estate developers generally do a good amount of research and weighs various factors associated with the sites.
We have enclosed all the important aspects of a real estate developer so that it is easy for you to make a note of the valuable information regarding the same.