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

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.