How to get into real estate development

Obtain your real estate license

You are going to need a real estate license to operate in the real estate development industry. Here is a quick look at the steps to obtaining your real estate license:

• Complete a certain number of hours of approved pre-license education

• Pass the course's final exam

• Complete and pass a background check

• Pass your state's salesperson license exam

• Procure a sponsoring broker to work under

• Complete your licensing application

A real estate license will also give you the opportunity to network within the industry, which is a crucial component to real estate development.

Gain some professional real estate experience

Here are some possible roles to gain experience in the real estate industry:

• Real estate investor

  A real estate investor is very similar to a real estate developer in some ways, however, they generally do not take on the size of projects some real estate developers do. Real estate investors come in three different forms:

  • Wholesalers are real estate investors who buy property at a discounted rate, and then sell it for a higher price

  • House flippers are real estate investors who buy a home and renovate it, and then move to resell it at a higher price

  • Landlords are real estate investors who buy homes, apartment buildings, or other living dwellings with the intent to rent them out to tenants

  Real estate investors buy properties with the intent of reselling them or renting them out.

• Building inspector

  A building inspector's role is very much the same as a home inspector's, the only real difference is that they are generally inspecting larger structures, such as apartment buildings, and commercial buildings. Building inspectors work closely with real estate developers, especially when a developer is seeking to convert or renovate an existing building.

• Urban Planner

  An urban planner is a designer and planner of neighborhoods, specialized communities, and other locations within a town or city. They seek to make efficient use of the land in these areas to create projects involving a building, multiple buildings, or a community of buildings.