I was thinking about becoming a real estate developer. What degrees/background do you need to do this, preferably an urban developer, and if you could please tell me about what some of the work includes, your experiences with it, etc. Thanks! :)

I was thinking about becoming a real estate developer. What degrees/background do you need to do this, preferably an urban developer, and if you could please tell me about what some of the work includes, your experiences with it, etc. Thanks! :)

Hey,

What you're looking for is a Master's in Land Development. Like planning a Bachelor's might not be enough for a decent entry-level position.

This is my current field and it's great, even better than my original high school intentions Urban Planning; you're freer to express your ideas and actually get to see them built! Albeit a Real Estate and Planning dual Bachelor's, or even a minor in Planning, would be a great asset.

I'm currently considering Texas A&M for my Master's degree, after I finish my dual Bachelor's in Finance/Real Estate. Also when you reach the Junior level, many summer employment opportunities exists. This is a great resume and network builder, and could also help you decide if Real Estate development is the right field for you.

I'm currently employed part-time for a developer in the Tampa area. It has been a great experience. I find it's easier to approach your boss and do work which closely follows your interests than it would be in other industries. For example, you may work with a wide variety of people such as architects, planners, marketers, engineers, designers, and economists, just to name a few.

From my personal experiences, I can say that it doesn't really matter what you take in High School, but any AP work would be a great start. You're going to need Calculus, Statistics and a bunch of accounting courses when you start college, along with maintaining a minimum GPA of 3.0 as the field is competitive, but the minimum requirements would vary from school to school.

That's about it. If you have any question, feel free to ask.

What you really need is a vast professional network. Everybody who's anyone is real estate these days (20,000 people) will attend the annual MIPIM (http://www.mipim.com/App/homepage.cfm?moduleid=75&appname=100419) conference. Also make sure to attend Drama School by the way.

There are a number of avenues.

You could go to school as mentioned above, highly recommended.

You could work for a general real estate company e.g. Trammel Crow and learn the ropes.

YOu could work with one of the more specialized areas, and expand from there, Hospitality, Residential, Leasing, etc.

YOu could even start as a broker and sell other people's real estate, because it gets you in touch with the market, and in the end you'll always need to know how to sell.

In the end you'll always need to get the yield per area, no matter what you build and where you are in the world. But getting there is the interesting part.

Thanks for all the tips guys. Right now I'm only a junior in high school, but I'm taking as many AP courses I can, I'm taking 4 AP courses this year with A's in all except for one in which I have a B, my weighted GPA is 4.82, and next year I plan to take at least 2 APs (most likely 3) and over the past 2 years in high school I made mostly A's and a couple of B's. So, after high school I plan to attend UNC Chapel Hill and major in Business and then go back and get my masters at UNC's Kenan-Flagler Business School. Does this sound good to you guys, and if not, how could I tweak this plan?

Thanks again for all your help! :)

Sounds like you're all set :)

Best of luck!

Over the education background that should preferably be in Property Valuation, Construction Engeneer (if you have land already :)) and financial investment backgroup, you will have to build up your contacts. And you can start from now by doing what you do here in that forum, by participating in conferences, doing internships... Never give up, and create your own opportunities!

Zimoune, would you know if Real Estate and Property Valuation are similar programs?

What you really need is a vast professional network. Everybody who's anyone is real estate these days (20,000 people) will attend the annual MIPIM (http://www.mipim.com/App/homepage.cfm?moduleid=75&appname=100419) conference. Also make sure to attend Drama School by the way.

May see you there :cheers:

So, after high school I plan to attend UNC Chapel Hill and major in Business and then go back and get my masters at UNC's Kenan-Flagler Business School. Does this sound good to you guys, and if not, how could I tweak this plan?

Thanks again for all your help! :)
Kenan-Flagler has a highly respected real estate faculty. Good choice.

http://www.kenan-flagler.unc.edu/KI/realEstate/mba.cfm

A BSBA in finance and an MBA in real estate from Kenan-Flagler would be very good combo for a developer.

If you plan to earn an MBA, though, perhaps you should earn a bachelor's in economics or public policy. You should broaden your knowledge base. This will give you more flexibility. You never know, you might want to enter the public sector (planning, policy analyst) one day. Besides, economics and public policy is good stuf for a developer to know.

Wow, thanks for everything guys!

If any of you have done any internships with developers, could you tell me what that is like? What does it involve, work hours, any pay, etc.

How does a major in planning and minor in real estate, then a Master's of Real Estate Development/MBA at Marshall (USC) sound? That's the route I'm planning to take...I want to be a real estate developer too!!!

How does a major in planning and minor in real estate, then a Master's of Real Estate Development/MBA at Marshall (USC) sound? That's the route I'm planning to take...I want to be a real estate developer too!!!

Out of curiosity, where are you going for planning school?

I'm taking a similar route. Dual bachelor's in Real Estate/Finance along with a certifciate in planning. And whatever field I like the most, I'll probably go for the master's.

^ For planning school my first choice is California Polytechnic State University, Pomona. They have the option to major in planning and minor in Real Estate. If however, I am unable to study in California I will be at UWaterloo (planning co-op, business option, land development specialization). I applied to RyersonU as well (major in planning, minor in business).

Waterloo is suppose to be really good. I know transportation planner who works for the Toronto who highly reconmends it.

Waterloo is suppose to be really good. I know transportation planner who works for the Toronto who highly reconmends it.
Waterloo is very good.

http://www.fes.uwaterloo.ca/faculty/units.html

Anyone ever had an internship with a developer?

Doesn't the Real Estate major cover many aspects of planning though? Is there a reason one would need both?

I plan to major in "Real Estate and Metropolitan Development," there's no planning major at my college.

Doesn't the Real Estate major cover many aspects of planning though? Is there a reason one would need both?

That's a very good question!

How about a bachelors in Geography and an MBA in Real Estate afterwards?

Many residential developers in the UK have no formal qualifications at all and pick up experience as they go along. The more successful ones seem to be those with good relationships with agents and also those who are on the ball with what's coming up at auction.

An old client of mine started developing residential property after he'd left the Royal Navy as a diver in the Falklands war and decided to go into developing having been a builder for a few years. The money he had earned he used to buy his first run down property which he and his wife lived in before refurbishing it, selling it on then starting another project and so on. He built his business up by building good relations with a lot of agents in the area and when I left West London he had a portfolio of about 20 rental properties and had between 5 and 10 other properties which were being split into apartments from houses as well as having just bought the lease on a large unit which he turned into a very swanky bar.

A lot of other successful residential developers over here are former estate agents where experience is picked up in progressing sales and dealing with clients, buyers, solicitors and surveyors. I guess as agents tend to be have to chase their tales around on a lot of deals too, they turn out to be good developers too!! In the UK, you need no qualifications or experience to become an agent although it's optional and considered good practise to subscribe to the National Association of Estate Agents.

How does a major in planning and minor in real estate, then a Master's of Real Estate Development/MBA at Marshall (USC) sound? That's the route I'm planning to take...I want to be a real estate developer too!!!
Southern Cal is well-respected in these areas. Good choice. But there is no need for all this overlapping education. What a lot of people don't realize is how closely related Real Estate and Finance are. That is why the two fields are often taught by the same department. Be sure to keep this in mind.

This is what I recommend:

Bachelor's --------then earn--------> Master's
Planning and/or Public Policy ---> Finance and/or Real Estate
Finance and/or Real Estate ----> Planning and/or Public Policy

Check out UMich's RE dept's Real Estate Career Matrix:

http://www.umich.edu/~reecon/restate/career/matrix.htm

Doesn't the Real Estate major cover many aspects of planning though? Is there a reason one would need both?

I plan to major in "Real Estate and Metropolitan Development," there's no planning major at my college.
Good point. But a lot of courses overlap and often you can earn a second major with only 15 or so additional hours. IMO, though, people should forget about the second major and just earn a MBA, after at least 3 years of professional work experience, or a Master's in planning or public policy. If you're adament on not earning an MBA, or Master's degree at all, then the additional major might help. My advice.

Thanks for the tips James704, I figured I would continue the Real Estate major for my Masters too, since a BA alone doesn't seem to get you too far these days unless you have tons of work experience in the field.

Damn man, all us Real Estate people here on SSC should start our own global firm, we got lots of people in different locations.

Thanks for the tips James704, I figured I would continue the Real Estate major for my Masters too, since a BA alone doesn't seem to get you too far these days unless you have tons of work experience in the field.
Of course, that's natural route for anyone who knows that real estate is for them. With that you learn a lot about property management and real estate finance/analysis. A good way to show prospective employers in real esate that you're dedicated to the field. But you don't learn a lot of pure managment or finance, though. This means you're not as versatile as someone with an MBA.

Damn man, all us Real Estate people here on SSC should start our own global firm, we got lots of people in different locations.
Sounds good. I can manage the regional office in Atlanta. :okay:

Thanks for the tips James704, I figured I would continue the Real Estate major for my Masters too, since a BA alone doesn't seem to get you too far these days unless you have tons of work experience in the field.

Damn man, all us Real Estate people here on SSC should start our own global firm, we got lots of people in different locations.

Yeah! I'm also probably going to be heading up to New York once I graduate. It's the place to be for Finance/Real Estate majors, infact it's the place to be regardless of your major!

So... the Real Estate major does have many planning principals, is it possible to major in Real Estate and jump to public sector planning?

Okay... To answer my and savethewtc's own question.

Short answer, "It Depends". Yes you could if you have the right background and emphasis (zoning, case law, basic land use concepts). I would actually think a person with that background could "round out" a team, and cross train.

Plenty o' thanks James704. I'll take your recommendation into great consideration. The reason I wanted to minor in real estate though is because it prepares us for the real estate broker's license exam in the event that real estate development or planning doesn't work out for me. But I take comfort in knowing that I don't HAVE to take the minor to become a real estate developer just because it is offered at the school. Why overwork myself with overlapped material, right?

BTW...Count me in for the global firm (representin' the TDot, VanCity or most hopefully LA) ;)

I was thinking about becoming a real estate developer. What degrees/background do you need to do this, preferably an urban developer, and if you could please tell me about what some of the work includes, your experiences with it, etc. Thanks! :)Well, you are making a very important step pretty early. Take in all the information that you can! Most of the posts here discuss the different majors or higher education avenues to take. Great sugguestions, but I'd like to add something a bit different. For starters, my major was International Finance and management. After 8 years of varying career choices, I'm now with working for a very successful developer (a Miami "mom & pop" with $2Bill in sales). Additionally, I've met some very successful developers. Many of them do not have formal education in real estate, let alone planning. People skills are essential, and a love for what you do. The successful developers are entrepeneurs that surround themselves with a great team.
Here are a few suggestions that you will likely find helpful....
#1 Read the Fountainhead
#2 Get a job as a construction laborer in the heat of summer. (3 months is plenty!)
#3 Join the Uban Land Institute and attend their local seminars when you can.
#4 Attend your local City commission meetings particularly when zoning/development issues are on the agenda.
and most importantly....
#5 Find a girl (without any brothers) whose father is a succussful real estate developer and fall in love with her. :) The sky is the limit!!! Good luck!

There's another thread with a similar theme as this. I've written something there about stuff you may want to know in general. One thing for sure is that there are multiple paths to a career in this industry.

Damn man, all us Real Estate people here on SSC should start our own global firm, we got lots of people in different locations.

You just basically stated my dream job, but its only a fantasy...unless we actually do that! We have a lot of avid people who are planning of being bart of the real estae field. Since our broad knowledge of the world, we would have no problem discussing real estate trends in the world.

I'm up for it, are you?