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Real estate developer hiring summary. Here are some key points about hiring real estate developers in the United States:
Here's a step-by-step real estate developer hiring guide:
A real estate developer obtains and develops land, turning it into a real estate asset. Part of their job is to conduct extensive research and analyses, coordinate with experts, gather and analyze data, negotiate with land sellers, and prepare properties for development. They also oversee construction operations from planning to execution, set budgets and guidelines, establish timelines and objectives, generate leads for potential clients, and maintain an active communication line with contractors for a smooth and efficient workflow.
Before you start hiring a real estate developer, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
A real estate developer's background is also an important factor in determining whether they'll be a good fit for the position. For example, real estate developers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list presents real estate developer salaries for various positions.
| Type of Real Estate Developer | Description | Hourly rate |
|---|---|---|
| Real Estate Developer | Property, real estate, and community association managers take care of the many aspects of residential, commercial, or industrial properties. They make sure the property is well maintained, has a nice appearance, and preserves its resale or leasing value. | $31-62 |
| Leasing Professional | A Leasing Professional is responsible for handling and coordinating with potential tenants for rental purposes. Leasing Professionals discuss the leasing terms and agreements with the clients, conduct property inspections, and identify possible repairs and renovations... Show more | $12-19 |
| Property Administrator | A property administrator is responsible for performing administrative and clerical duties for real estate and property companies. Property administrators coordinate with prospective clients to inform them about the property and offers tours to give a better view of the location... Show more | $12-27 |
Including a salary range in the real estate developer job description is a good way to get more applicants. A real estate developer salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a real estate developer in Louisiana may be lower than in Connecticut, and an entry-level engineer typically earns less than a senior-level real estate developer. Additionally, a real estate developer with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Maryland | $112,566 | $54 |
| 2 | Texas | $106,045 | $51 |
| 3 | Massachusetts | $100,734 | $48 |
| 4 | North Carolina | $97,082 | $47 |
| 5 | Washington | $96,628 | $46 |
| 6 | New York | $93,717 | $45 |
| 7 | Illinois | $91,614 | $44 |
| 8 | Tennessee | $91,498 | $44 |
| 9 | Nevada | $91,495 | $44 |
| 10 | Iowa | $88,297 | $42 |
| 11 | Minnesota | $77,167 | $37 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | RSM US | $115,691 | $55.62 | 15 |
| 2 | Deloitte | $112,908 | $54.28 | 532 |
| 3 | Ernst & Young | $111,068 | $53.40 | 585 |
| 4 | Citi | $106,583 | $51.24 | 23 |
| 5 | MathWorks | $95,280 | $45.81 | |
| 6 | CBRE Group | $89,815 | $43.18 | 88 |
| 7 | Champions School of Real Estate | $89,592 | $43.07 | |
| 8 | SunEnergy1 | $88,724 | $42.66 | 1 |
| 9 | Robert Half | $86,676 | $41.67 | 137 |
| 10 | Sherman Associates | $68,227 | $32.80 | |
| 11 | The Place Family Restaurant | $66,088 | $31.77 | 2 |
| 12 | Erickson Senior Living | $61,900 | $29.76 |
A job description for a real estate developer role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a real estate developer job description:
There are a few common ways to find real estate developers for your business:
During your first interview to recruit real estate developers, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've decided on a perfect real estate developer candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.
Once that's done, you can draft an onboarding schedule for the new real estate developer. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
Hiring a real estate developer comes with both the one-time cost per hire and ongoing costs. The cost of recruiting real estate developers involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of real estate developer recruiting as well the ongoing costs of maintaining the new employee.
The median annual salary for real estate developers is $93,510 in the US. However, the cost of real estate developer hiring can vary a lot depending on location. Additionally, hiring a real estate developer for contract work or on a per-project basis typically costs between $31 and $62 an hour.