On behalf of the client, real estate developers look for suitable sites for a real estate project or ideas for the use of an existing property. At the beginning of a project, they investigate the potential of a site and prepare feasibility studies for various use options. They initiate contact with the municipal spatial planning and building authorities for clarification.
Real estate developers lead interdisciplinary teams of experts, including architects, authorities, real estate marketers, cost planners, lawyers and client representatives. They work on financing solutions, assess valuations as well as land purchase and work contracts. They plan the construction project, analyse the planning basis and ensure compliance with legal regulations and standards. At the end of a project, they ensure that the property goes smoothly into operation and that the relevant documentation is handed over to the client.
For professional handling, real estate developers have knowledge of market research and real estate marketing, investment appraisal, planning and construction processes as well as planning and construction law.
Requirements for training
A 3-year basic vocational training, school-leaving certificate, degree from a higher technical college, university or equivalent qualification is required for the federal certificate. Analytical skills, good business and construction knowledge as well as customer and service orientation are essential for the training.
The training lasts 1 1/2 years and can be completed part-time.
Gérard Lerner, how would you describe your day-to-day work in five sentences or less?
The day-to-day work of a project developer is many-sided and varied. In the search for new development opportunities, one is constantly in conversation with brokers, private and institutional property owners and project sellers. An essential part of the daily acquisition routine is the clarification of building regulations based on the applicable planning and building laws as well as discussions with the authorities and architects. Furthermore, profitability calculations and general market analyses play a central role in the evaluation of project opportunities.
What basic training is suitable for later work as a real estate developer?
In my opinion, you have good prerequisites with interdisciplinary courses of study such as architecture and urban planning.
There are various training programmes. Which course do you recommend to future professionals?
You certainly can’t go wrong with an architectural education in combination with construction economics and construction law.
What talents and qualities are important?
In this profession you benefit from conceptual, creative and networked thinking. A flair for numbers as well as curiosity, openness and flexibility are also important.
What do you particularly like about your job?
I especially like the variety and the interdisciplinary processes – you are in constant exchange with the most diverse actors such as owners, authorities, user groups, investors, banks and sellers. Every day you balance between realistic analyses and visionary creations, which I find very exciting.
How do you become a good real estate developer?
To develop real estate, you need, above all, broad and well-founded experience in the fields of architecture, construction economics and building law. Proactive behaviour, networked thinking, decisiveness and sociability are indispensable social skills that you should have.
What advice would you give to young professionals in order to successfully gain a foothold in the profession?
You have to have stamina and be far-sighted. A passion for creativity, curiosity and openness also pave the way to success.
What milestones and highlights have you achieved and experienced in your professional life so far?
After my studies, I gained various experiences as a design architect in different architecture firms in Germany and abroad. In the process, I was able to gain fundamental knowledge in construction project planning. Afterwards, I had the opportunity to work as a construction trustee on major construction projects such as Europaallee Zurich. During this time, I was able to gain valuable experience in the areas of technical tenders, contracting and construction processes. In recent years, I have been increasingly active as a client representative and construction manager for private companies such as Visionapartments. In the role as Head of Real Estate, I was able to apply my entire knowledge of acquisition, development, planning, contracting and realisation. I reached a milestone in my professional life a year ago when I started working for Schmid Immobilien AG. A company rich in tradition with highly concentrated competence, experience and quality standards.
