How to pursue a career as a Real Estate Developer
Being a real estate developer may look highly appealing and, most likely, a highly profitable career. The real estate developer’s main job is to take control of the projects starting from purchasing land to the finished product that is the building of the property. But as the saying goes, “don’t judge a book by its cover,” it is indeed not what it looks like. It does hold high financial earning, but it is hugely a risky one too. An individual needs to acquire the required skills that he/she needs to learn through several experiences in this field.
To start a career as a real estate developer in the Philippines, one needs to start from the base. This also applies to other places. Below is the guide on how one can do it:
1. Firstly, for anyone desiring to be a real estate developer they have to have a bachelors degree but no specific subject is needed, some of the issues that one can be advised to take up for a better and secure understanding of this field includes business and management program and civil engineering as well. Business and management program helps the students develop logical reasoning skills, abilities like critical thinking.
If a student chose to pursue a degree in civil engineering, it could be proved to be helpful for students to learn how things are build or constructed. Other than that, students need to develop communication skills, which is one of the essential skills for real estate developers for dealing and interacting with various individuals they might encounter in this field.
2. For better knowledge and education about this real estate field, a student can go for a master’s program if he/she desires to. This can help them access the issues that real estate developers are most likely to face, including land use, planning, design, and environmental regulations. It could be a plus point if they complete an internship program.
Having a master’s degree in real estate development can act as a bonus, which will provide numerous opportunities to gain experience and can help them prepare for their first job in the industry. When an individual participates in an internship, students can learn about professionally applying their skills as they are supposed to do. Because of the course, they can meet or can have contacts with experienced people who can help them.
3. After completing their degree, they can apply for certification. As per sources, for the certification process, they are required to submit documents that include an active real estate license, Institute membership for at least six months, and a minimum of 3 years of experience in real estate. This designation remains valid as long as an institute membership is kept active.
4. Students then need to apply for licensing and become licensed as a real estate agent, but only after they gain enough experience in real estate. They are required to search for entry-level positions so that they can learn about the development, buying, or selling of real estate to gain exposure in the field and begin their career in real estate development.
After they can receive a real estate license, they can increase their experience in the sale of property/real estate and how they can deal with their clients and work on their communication skills. They also need to gain knowledge about the housing crisis in the local market so that they do not face any trouble when making decisions on investments once they become developers.
5. A developer, who wants to continue their education and desires to learn this industry in detail, may wish to consider a certificate or continue their education program. As per information provided by sources, there are two types of documents available mainly Certificate of Advanced Study in real estate development and a Certificate of Advanced Study in real estate Finance, but to achieve these certifications, the developers are required take up several courses that are usually named as Advanced Development Practices, Real Estate Law and Land Use Policy, Advance Real Estate Finance, and Financial analysis of development projects.
One needs to think before act. They need to be sure if they want to pursue this career and are passionate about it. One needs to have the potential to work hard for it. After qualifications, real estate developer is required to maintain some ethics in their business. Developing their ethics is what’s going to make them different from others.
For being a successful developer, maintaining a reputation in this industry will be hard, but the one who will manage to do it; nothing in this world will be able to stop them from getting clients after clients. As per sources, the average salary for a real estate developer is Php 17,619 per month in the Philippines. The amount keeps going up and down in rate. The pay varies based on job titles, experiences, and skills.
People look for individual developers that can provide them with the best projects. People who are passionate about their work and make sure to work hard definitely can make the best out of it. In the Philippines, real estate developers are in high demand recently with the growing competition. Investors search for developers who have the requirements that they are in search of:
a) Developers who have more than enough knowledge regarding property matters and have various contacts with numerous people who expertise in this particular industry, so they know how to make a deal without having much trouble properly.
b) The developers must keep records of their previous works to act as a bonus point when getting investors. People tend to check through the track records to make their best choice as a decision—reviews and opinions on the work done by the developer and the company matters in this industry.
c) There are several problems that a developer has to face, but the most occurring situations probably are providing and completing the best quality project within the deadline. It is also necessary that the developers maintain how they deal with crises and complaints in a professional way. It is a crucial element in which one needs to be aware of to maintain their professional attitude.
d) A developer isn’t a developer without a proper plan. Without planning, nothing is possible around here. A developer has to make sure they follow the schedule of the project as they created. They must share their ideas with the investors and the amount of money that will go in the development process and how they will use it.
e) One of the skills owned by a developer is that they need to know when to grab an exclusive opportunity. Investors look for developers that keep them informed about anything related to the development of the project. They must be responsible for living up to the expectations of the client and fulfill them as required.
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