CRE Property Development Careers & Career Paths
Commercial real estate developers handle the construction, renovation, and even leasing of property. A developer may be a small group of investors who work with a general contractor or a larger firm that has in-house architects, engineers, and attorneys. Some developers are entrepreneurs and function as an independent business. What are some other job titles and related positions that commercial real estate developers might hold?
- CRE investment analyst
- Accountant analyst
- Development analyst
- CRE associate
- Real estate development associate
- Real estate specialist/developer
- Investment development
- Project manager
- Building services specialist
Commercial Real Estate Developer Education
- Bachelor's degree in finance, real estate, business, or a related field
- Master's degree (MBA or MFin) preferred
- Certifications: NAIOP (Commercial Real Estate Development Association), CCIM (Certified Commercial Investment Member), Society of Industrial and Office Realtors
Career Fields for Real Estate Development
Who employs real estate developers? What other fields do real estate developers work in? What types of businesses hire commercial real estate developers besides investors? These are examples of companies, organizations, and private parties that may employ CRE developers:
- Investment firms
- Real estate investment trusts (REITs)
- Private equity real estate firms
- Real estate development companies
- Real estate acquisition/manager companies
- Property owners
- Real estate agents
- General contractors
Keywords That Employers Look For
Your resume and profile will stand out among applicants when you use the language that hiring firms look for in CRE developers. Focus not only on hard skills, such as developing budgets and financial models, but also soft skills such as negotiations with contractors/vendors, keeping projects on schedule, and effective client communication.
Hard skills for CRE developers:
- Financial modeling: Proficiency in creating and analyzing complex financial models
- Developing budgets: Expertise in constructing an accurate project budget
- Market analysis: Market research and analysis for development viability
- Renovation: Developing and organizing a plan for real estate renovations
- Deal structuring: Knowledge of structuring deals, including debt and equity financing
- Accounting: Experience with accounts payable, payroll, reconciliation, and other accounting responsibilities
- Underwriting: Evaluating the risks and potential profits of a property
- Project scheduling: Creating an accurate timeline using project management software to track progress and milestones
Soft skills for CRE developers:
- Communication: Ability to effectively communicate project details to the client and contractors
- Negotiation: Strong negotiation skills to close deals and secure favorable terms with contractors and vendors
- Leadership: Capability to lead and manage a team and project to meet necessary deadlines
- Networking: Ability to build a network of contractors, businesses, investors, and other specialists for building development
- Cross-department collaboration: Expertise in collaboration with operations, marketing, and other branches
- Client communication: Strong interpersonal skills and ability to understand and meet client needs
- Local market knowledge: A repertoire of knowledge about the local real estate market and city requirements
Software tools and apps that CRE developers use
- Financial modeling and analysis: Microsoft Excel, Argus Enterprise, Tableau
- Customer relationship management (CRM): Salesforce, Microsoft Dynamics 365, HubSpot, Zoho CRM, Affinity, Pipedrive
- Data and market research: Biscred, CoStar, Real Capital Analytics, REIS, SNL Real Estate, Capital IQ, Orbis, Crunchbase, FactSet, Bloomberg Terminal
- Presentation and visualization: Microsoft PowerPoint, ThinkCell, Tableau, Qlik
- Document management and collaboration: Microsoft SharePoint, iDeals, Box, Dropbox, Google Drive
- 2D drafting/modeling: ActCAD, Auto CAD
- Property management: Intervals, Yardi, MRI, QuickBooks
- Startup and private company data: Biscred, Crunchbase, Tracxn, Preqin
- Project management: Asana, Trello, Monday, Northspyre, MS Project, Zoho Projects, Teamwork, Jira, Basecamp, Clarizen
Top states for commercial real estate development companies
- California: 2,342 companies that do development, operations, REIT and other functions in CRE
- Texas: 1,848 companies
- New York: 1,604 companies
- Florida: 1,509 companies
Careers in commercial real estate development: Industry outlook
- Median salary U.S.: Ranges between $103,522 and $314,000 per year or $49.77 to $150.96 per hour
- Projected job growth: 4% per year through 2032
- Employment 2023: 83,900
- Employment projected 2033: 87,100
CRE development licensure, certification, and professional associations
- NAIOP: National Association of Industrial and Office Properties
- CCIM: Certified Commercial Investment Member Institute
- SIOR: Society of Industrial and Office Realtors
- Real Estate License: How to obtain in all 50 states
