How to Become a Property Developer

If you love the idea of turning empty land into busy neighborhoods or tall buildings, a career in property development could be perfect for you.

This blog post will guide you on how to become a property developer, focusing on the skills you need, the education you should consider, and how much you can earn in Australia.

Quick Links

• A Day in the Life of a Property Developer
• What is Property Development?
• Step-by-Step Guide to Becoming a Property Developer
• Examples of Successful Property Developers in Australia
• What You Can Expect to Earn in Australia
• Study the Right Course for a Career in Property Development
• Frequently Asked Questions (FAQs)

A Day in the Life of a Property Developer

In the busy world of real estate, a property developer’s day is full of action, mixing creativity with smart planning.

Mornings often start with visiting construction sites to check progress and solve any problems.

Architects and builders hold meetings next to review plans and share ideas to ensure everything aligns with the project’s vision.

Managing money is key, as developers look at budgets and funding options, working with investors to get the needed resources.

They also constantly research the market to stay updated on industry trends and what consumers want, helping them make good decisions.

Even though the pace is fast and things can be unpredictable, seeing a project turn into a real building is very gratifying.

Flexibility and strategic thinking are crucial because each day brings new challenges and chances to change the skyline and enhance the urban environment.

What is Property Development?

Property development involves buying land, funding real estate projects, building or renovating, and then selling or renting out the finished property. 

It’s a mix of construction, finance, and marketing, which makes it challenging yet rewarding.

Developers need to know the property market well and have good business and negotiation skills. 

Researching the market and keeping up with industry trends is crucial. This helps developers decide which projects to pursue and how to market their properties effectively. 

To stay competitive, developers must stay ahead of changing consumer demands.

Property development moves quickly, bringing unexpected challenges and exciting opportunities. 

Watching a project turn into a building is very satisfying for developers, showing the results of their hard work and planning.

Step-by-Step Guide to Becoming a Property Developer

1. Understand the Industry

Before getting started, it’s important to understand how the property market works.

Check out industry reports, go to property seminars, and connect with professionals.

This basic knowledge will help you make smart decisions as you move forward in your career.

2. Gain Relevant Education

You can start a career in property development without a degree, but having one can be a big advantage.

The ICMS Bachelor of Property (Development, Investment and Valuation) is a great option.

It teaches important skills like property valuation, investment strategies, and development processes, giving you a strong base for your career.

Watch ICMS Property Lecturer Sam Cuccurullo explain more about how the ICMS property degree can help you become a property developer. 

3. Develop Key Skills

The infographic below shows the wide range of skills you need to be a successful property developer, you need a range of skills. 

4. Gain Experience

Experience is really important in property development. 

Start with small projects or internships to learn practical skills. Many developers start with houses before taking on commercial properties.

If you study the ICMS Bachelor of Property (Development, Investment, and Valuation), you’ll get real-world experience.

The degree includes internships through the Work Integrated Learning (WIL) program, ensuring every student graduates with hands-on experience.

This program offers internships where students can apply what they learn in class to real-life situations.

This practical experience helps them understand the industry better and gives them the skills and connections needed for successful property development careers.

By graduation, students are ready to start working, with experience that makes them stand out.

5. Build a Portfolio

Keep a record of your projects and successes to create a portfolio. This will be important when looking for funding or partnerships for bigger projects.

ICMS students build their portfolios while studying through the WIL program.

6. Secure Financing

It’s important to know about different ways to get money. 

Whether you use loans, investors, or partnerships, getting the right funding is key to making your projects successful.

7. Stay Updated

The real estate market is always changing. Keep up with the newest trends, rules, and technologies to stay ahead.

Examples of Successful Property Developers in Australia

Australia has some of the top property developers who have shaped cities across the country. Here are a few:

• Meriton: One of Australia’s biggest and most successful residential developers, Meriton has left a mark with its quality housing projects.
• Mirvac Group: A key player in the property sector, Mirvac focuses on building high-quality homes, offices, and shops. They’re well-respected in the industry for their commitment to excellence.
• Stockland: Led by Tarun Gupta, Stockland is one of the largest and most diverse developers in Australia, known for its fast growth and innovative projects.
• GJ Gardner Homes: Founded by Darren Wallis, this company is prominent in home building, known for quality homes and customer satisfaction.

These developers have significantly impacted the industry, showing the potential for success in property development in Australia.

What You Can Expect to Earn in Australia

Salaries in property development can differ a lot depending on experience, location, and project size. 

On average, a property developer in Australia makes between AUD $85,000 and $105,00 a year, according to Seek. Experienced developers handling big projects can earn much more.

Study the Right Course for a Career in Property Development

Becoming a property developer is tough but rewarding.

To succeed, you need the right education, skills, and experience.

As ICMS property lecturer Steven Boyd notes: “A property developer facilitates a change in our built environment. They have a great responsibility creating the places we work, live and play, and their decisions can have an enduring impact on our society and natural environment.”

Consider the ICMS Bachelor of Property (Development, Investment, and Valuation).

It’s a thorough program that prepares you for a career in property development.

Want to start?

Find out more about the ICMS Bachelor of Property (Development, Investment, and Valuation) here.

Frequently Asked Questions (FAQs)

Pursuing a career in property development can be both challenging and rewarding. Here are some frequently asked questions to guide you on this path:

What does a property developer do?

A property developer oversees the process of purchasing land, financing real estate deals, building or renovating structures, and selling or leasing the completed properties. This role requires a blend of construction knowledge, financial acumen, and marketing skills to navigate the complexities of the real estate market.

What educational background is beneficial for a career in property development?

While it’s possible to enter the field without formal education, obtaining a degree can provide a significant advantage. A Bachelor of Property (Development, Investment and Valuation) covers essential topics such as property valuation, investment strategies, and development processes. This comprehensive program equips students with the knowledge and skills necessary for success in property development.

What skills are essential for a property developer?

Key skills for property developers include:

• Market Research: Understanding market trends to identify profitable opportunities.
• Financial Management: Budgeting, securing financing, and managing project costs.
• Negotiation: Dealing effectively with contractors, investors, and clients.
• Project Management: Coordinating various aspects of development projects to ensure timely and within-budget completion.
• Legal Knowledge: Navigating property laws, zoning regulations, and compliance issues.

These competencies are crucial for managing the multifaceted aspects of property development projects.

How can I gain practical experience in property development?

Gaining hands-on experience is vital. Starting with smaller projects, internships, or assistant roles can provide practical insights. Work Integrated Learning (WIL) programs in property degrees often offer students industry training, ensuring that graduates have real-world experience and professional connections upon completing their studies.

What are the career prospects in property development?

The property industry offers diverse roles, including:

• Property Manager: Overseeing daily operations of real estate properties.
• Asset Manager: Managing property portfolios to maximize returns.
• Property Valuer: Assessing property values for sales, taxation, or insurance purposes.
• Facilities Manager: Ensuring buildings and their systems operate efficiently.
• Property Analyst: Evaluating market trends to guide investment decisions.

These positions allow professionals to engage in various aspects of property development and management.

What is the earning potential for property developers in Australia?

Salaries vary based on experience, location, and project scale. On average, property developers in Australia earn between AUD $85,000 and $105,000 annually. Those managing larger projects or with extensive experience can achieve higher earnings.

How do I start a career in property development?

To embark on this career path:

• Educate Yourself: Enroll in a relevant degree program like a Bachelor of Property (Development, Investment and Valuation).
• Gain Experience: Seek internships or entry-level positions in the property sector.
• Develop Skills: Focus on building key competencies such as market analysis, financial planning, and project management.
• Network: Connect with industry professionals through events, seminars, and professional associations.

By following these steps, you can establish a solid foundation for a successful career in property development.