Real Estate Developers

Experience working in real estate development as an assistant is highly recommended for aspiring real estate developers. 

Real estate development is regarded as one of the most challenging careers in the real estate industry. You must have the ability to speculate about the economy and envision profitable ventures in addition to having a broad knowledge of the legal, financial, political, and construction issues related to development. Consequently, a background in law, architecture, or general contracting can be highly beneficial.

It is useful to have a working knowledge of both zoning laws and building codes. While it is the architect's primary responsibility to ensure that the plans ultimately submitted to the building department will be approved, the knowledgeable developer may decide it is appropriate to seek a variance in zoning or code. This is most common with non-safety issues, such as the number of parking spaces required. A municipality might grant a variance if you present a convincing case that the project will create a significant number of jobs for the community.

You must also understand the marketplace. For this reason, experience in appraising, leasing, or selling real estate can prove very helpful. Real estate brokers who lease office space often have excellent contacts and knowledge for entering the development business. They know where the potential tenants are, and they understand the issues involved in developing large buildings for commercial use. You must also grasp the basics of finance to structure the development entity effectively.