Real Estate Project Developer (Commercial) Salary
Job Description for Real Estate Project Developer (Commercial)
Before running commercial real estate projects, real estate project developers must locate suitable land for commercial buildings. They are generally responsible for choosing appropriate site locations and must ensure that their projects are in compliance with any and all zoning ordinances. They may also be involved in securing loans or funds to finance these projects.Read More...
Real estate project developers often coordinate entire development processes from start to finish. They may outsource work to third parties (subcontractors) or hire employees directly and purchase their own building materials. They must be skilled in market analysis and land-leasing, and legal skills are highly beneficial for handling real estate contracts and potential liability in development projects.
Employers generally require that real estate project developers have a college degree in business, civil engineering, or another real estate-related field, as well as prior managerial or supervisory experience. Some employers require that candidates have commensurate experience in architecture, engineering, or contracting, and excellent interpersonal and leadership skills are also beneficial. They must be able to build strong teamwork with motivation and exceptional communication skills, and should be able to work well under pressure, including handling multiple deadlines. Time-management skills are important in order to meet strict project deadlines, and they must be able to work independently as well as in a team environment. They are often required to travel to visit vendors and find viable site locations, as well.
Real Estate Project Developer (Commercial) Tasks
- Plan and implement project budget and schedule.
- Visit job site and ensure project is on schedule.
- Work with city planners and municipal groups through all phases of construction.
- Coordinate and schedule contractors, vendors and inspectors.
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Pay by Experience Level for Real Estate Project Developer (Commercial)
Median of all compensation (including tips, bonus, and overtime) by years of experience.
People who have worked for fewer than five years bring home $59K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $80K. Between one and two decades on the job, average salaries pass the six-figure mark at around $135K. Commercial Real Estate Project Developers who surpass 20 years on the job report pay that isn't higher than those with 10 to 20 years.
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