Essay Sample on Career as a Real Estate Developer
A real estate developer looks for land to build structures and then profitably sell to investors. There are different types of real estate developers: residential, commercial and industrial. Depending on the project, developers have to maintain a knowledge of zoning regulations such as land use, height of buildings, minimum required distance from other structures, road connections/intersections etc. They also need to know the demography: population, density and age of people who are going to use structures. Real estate developers consider the climate to ensure that construction materials are suitable for the weather conditions. It will ensure comfort, safety and longevity of buildings. Real estate developers will then supervise architects and engineers to ensure that the project goes as planned to meet the deadlines. In addition, real estate developers need to know how to fund projects by attracting investors/creditors and control the budget.
The salary of a real estate developer in Canada ranges from $68,000 to $151,000 with an average being $82,000. The developer earns more money than any other parties involved in the project. The salary depends on multiple factors such as education, work experience, complexity and scale of projects. Developers with university degrees, licenses and extensive work experience receive higher end salaries.
A real estate developer uses a multitude of tools to assist him with his project:“Price Finder” helps the developer find future opportunities to buy land. “Google Earth” Allows a developer to see and measure the area of land.“RP Data by CoreLOgic” provides independent valuation of properties, research tools and property transaction data.
One of the most interesting facts about a real estate developer is that they get the opportunity to work with many different professionals from the engineering and architectural fields. They get the opportunity to expand their creativity by working on various projects throughout their career.
In order to become a real estate developer I would take a university/college preparation course in Geography. I will learn Physical Geography: Patterns, Processes, and Interactions in grade 11, Environment and Resource Management and Geomatics and Geotechnologies in Action in grade 12. In these courses I will learn the human relations and effects on the environment as well as techniques that geographers and other professionals use to acquire, manage, map, analyze, and communicate information about the Earth's surface and how to apply my skills to a variety of real world situations. Knowing the effects that humans have on the environment would encourage me to make more eco-friendly projects if I were to become a real estate developer. Having a basic understanding of how to read maps and being able to apply my knowledge to real world situations will give me a small insight of the predevelopment process of real estate developers.
The education requirements to become a real estate developer are to have a Masters degree or to pursue an MBA with a concentration on real estate. The “University of Waterloo” offers a full time 1 year MBA program which provides innovative and world class opportunities to aspiring real estate developers. Students taking this 1 year course will have the opportunity to Network get practical experience and do some hands-on learning with like minded people. Helping them earn a degree and also get one step closer to becoming a real estate developer.
A real estate developer utilizes many interpersonal skills to lead their team throughout a project. The 5 main skills they use consist of leadership, communication, problem solving, speaking and negotiation. These skills come in very handy when organizing and leading teams of engineers and architects as they help solve and avoid problems through good communication. A real estate developer is also able to use his negotiating skills to close in on deals with investors and sellers.
In Conclusion after learning about real estate developers I began to fall in love with the profession. From the start of the development process to the finished product real estate developers create plans and lead a team to a successful project and for all these reasons I would love to become a real estate developer when I am older.
