Property DeveloperJob Description:
Property developers generate income by buying property, renovating it, and then selling it or renting it out.Job Category:
What you will do:
Your day-to-day duties could include:
- managing development finances
- obtaining planning permission
- organising renovations
- hiring contractors
- negotiating with property owners, real estate agents, and investors
- maths knowledge
- knowledge of building and construction
- legal knowledge including court procedures and government regulations
- to be able to use a computer and the main software packages competently
As well as:
There are no specific subjects that are mandatory to become a Property Developer, but certain subjects and skills can be helpful in preparing for a career in property development. Here are suggested subjects and skills that can benefit you as a future Property Developer:
- Mathematics: Strong mathematical skills are essential for property development. You’ll need to work with budgets, financial projections, and analyse investment opportunities.
- Business Studies or Economics: Courses in business studies or economics can provide you with fundamental knowledge about business principles, financial management, and economic factors that impact the property market.
- English: Good communication skills, including reading and writing, are vital in the real estate industry. You’ll be drafting contracts, proposals, and reports.
- Design and Technology: Understanding construction and design principles can be valuable for property development, especially if you’re involved in renovation or redevelopment projects.
- Geography: Geography can provide insights into geographical factors, such as location and demographics, which are important in property development decisions.
- Computer Science: Proficiency in using software tools for data analysis, project management, and financial modeling can be advantageous.
- Graphic Design: This skill can be useful for creating presentations, promotional materials, and property marketing.
- Physics and Environmental Science: A background in science can help you understand environmental and sustainability factors that are increasingly important in property development.
Most property developers tend to enter this career after finishing a degree in a related subject, like Business, or by completing an apprenticeship.
You could complete a property-related qualification offered by the country where you practise. In the UK that will be the National Federation of Property Professionals (NFOPP) or the Awarding Body for the Built Environment (ABBE).
Working Hours and Environment:
Due to the nature of this job, you might spend a considerable amount of time on-site, meeting with contractors and clients, financiers, investors, and suppliers. You may also spend time traveling, with potential overnight trips.
On quieter days, you’ll be working in an office setting, which could be at home.
Career Path & Progression:
Property developers tend to build up to developing and managing bigger projects. Some even opt to further their careers by undertaking postgraduate studies, such as a Masters in Property Development.