How To Build A Career In Real Estate Development

Written by Realty Times Staff Posted On Wednesday, 14 March 2018 13:26

If you're looking to start a career as a real estate developer, there are all sorts of things that you'll need to think about before you take the plunge and start out in this rewarding yet difficult industry. From deciding on the right college degree to maximize your chances of finding a job after graduating, to building the skill set needed to manage the problems and people you'll come across once you're working, there's a lot to get sorted out. However, by doing your research and planning ahead, it'll be easy to lay the groundwork and get your dream role lined up. Here are some top tips to follow to kick-start that real estate development career.

Start in the right place

As with any career, a working life in real estate requires you to begin in the correct place on the career ladder. Making a wrong choice as a young person starting out could haunt you for the rest of your life, so it's a good idea to make it work from the outset. Remember, there are a whole host of things that you're going to need to learn about -- ranging from how mortgages work to how you'll navigate the planning and development rules set out by local, state, and national governments. Getting a first job that teaches you these skills is vital, otherwise you'll be at a lifelong disadvantage and may find that future employers consider your experience too specific.

Get educated about the sector

While historically it was common for real estate businesses to be family run and for people to learn on the job, it's now increasingly more popular for young people entering the industry to get their degree in a relevant topic related to business and commerce first. Attending a college such as Bryant and Stratton College to study one of their business degree programs is a fantastic way to find out how the industry works and what you need to know, and learning this sort of material from a young age could also put you ahead of the competition for jobs when it comes to applying after college.

Leave the office and get talking

In this business, it's vital for people who want to make a success of themselves to ensure that they do all of the networking they need to find that dream job. There are all sorts of organizations and conferences across the country that are vital for you to attend if you want to advance quickly; these include national organizations such as the National Association of Home Builders, which is one of the US's largest trade organizations. If you're still in college, you may find that there are campus branches of relevant organizations that run events right near to where you're living or studying -- which means that you won't need to factor in cost or travel time in order to network.

Find a role model

Real estate is a complex business, and it's likely that you're going to face some hurdles and challenges along the way while building your career. That's why learning from those who have already been there and done it is a great move. Finding a role model doesn't have to be difficult; you could, for example, ask a tutor on your course if they know of anyone in the business willing to offer some practical help and advice. If that doesn't work, you could try speaking to local real estate development companies in your area. You never know, they may admire you for your courage, and even end up offering you a job somewhere down the line!

Don't give up

From getting denied financing for your latest development to finding that the contractors you hired weren't up to scratch, there are all sorts of problems that a career in real estate is going to throw at you. Giving up at the first hurdle will simply rule you out of the race to success -- but by carrying on and using your knowledge, problem-solving ability, and support network to find a way forward, you'll soon find yourself back on track.

Real estate development is a great career choice for those who are enterprising, tenacious, and savvy when it comes to money and investment. While there are various pitfalls to look out for, including unscrupulous colleagues and suppliers or not keeping up with the latest trends and knowledge, there's no reason why you can't build a fun and well-paid career in this booming and fast-growing sector.

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