Overview of Real Estate Development

Real estate development is an evolving and expanding profession which deals with the planning, designing, building, and managing of both commercial and residential properties. This type of development is integral for improving the quality of our environment and transforming the built landscape. Real estate development professionals are experts at evaluating and improving the use of existing land, resources, and buildings to maximize land use and property value.

Career Opportunities in Real Estate Development

The primary job opportunities in Real Estate Development include jobs in real estate investment, real estate finance, land use and development planning, construction management, urban development, and property development. Real Estate Development also offers a wide range of specialized tracks such as residential land development, green building, commercial leasing, hospitality, retail, and more. From the management and coordination of projects from start to finish to the creation of sustainable and environmentally-friendly real estate projects, real estate development offers a variety of promising careers in the industry.

Internships and Co-op Opportunities in Real Estate Development

Internships and co-op opportunities are excellent options for getting useful experience and practical training in the field of real estate development. These experiential opportunities can help students gain hands-on experience in the industry and provide them with valuable skills useful for moving forward in their career. Internships and co-ops are available with independent real estate developers, property managers, design and construction firms, lenders, asset managers, and more.

Specialized Tracks and Concentrations in Real Estate Development

Real estate development offers a range of specialized tracks and concentrations, such as residential development, green building, commercial leasing, hospitality, retail, and more. These tracks and concentrations enable students to specialize in development in specific areas of the industry. Students can choose to focus their studies on a particular specialization to gain a deeper understanding of how real estate development works and apply those skills to their own future projects.

How Real Estate Development Prepares Students for Further Education

Real estate development is a great tool for those looking to gain hands-on experience and knowledge in the field. Students can develop skills in project management, research and analysis, risk management, strategy, and more. This type of practical experience can be invaluable and can prepare students for further education and graduates school in the field.

Impact of Artificial Intelligence (AI) on Real Estate Development

AI has already begun to have a profound effect on real estate development, both positively and negatively. AI can be used to analyze vast amounts of data quickly and accurately to identify the best opportunities for development. AI can be used to automate mundane tasks and remove cost barriers that have hindered the development of certain projects. However, AI can also be used to replace human decisions and potentially increase the risk of errors.

The Career Outlook for Real Estate Development

The outlook for the real estate development industry is positive. According to the Bureau of Labor Statistics, employment in the field of real estate development is projected to grow about 8% through 2028. With the ever-changing trends in the industry, real estate development is an exciting and ever-evolving career path.

Here are the top reported starting salaries for graduates in Real Estate Development:

University of Southern California, Salary: $60,983

For privacy reasons, not all schools report the first year salaries for students who earned their bachelor’s degree in Real Estate Development.