Is it Right for You? | Real Estate Developm

Is It Right for You?

Most development managers come from the construction or design industry. Someone fresh out of college, or transitioning from an unrelated industry, commonly won't be able to provide the necessary value to manage a development project. There is too much technical knowledge and experience required in the field of building construction and design before you can competently lead a development project.

The attributes that most successful development managers have are:

Attention to detail
Ability to lead a team
Clear communication skills - both written and verbal
A take-charge attitude
Ability to juggle multiple projects
Possession of the technical knowledge and experience from multiple years of working in the construction or design industry

If you are in the construction or design industry and want to get into development, unfortunately there simply are not that many available job openings. Developers occupy the position of being at the top of the pyramid when it comes to the hierarchy of the overall commercial real estate market, and job opportunities become narrow at the top of the pyramid. So if an opportunity presents itself, take it. You can always go back to construction or design if development is not a good fit.

By virtue of being at the top of the pyramid, many development managers find the work to be less stressful and less of a grind than in the construction or design industries (Read: It's good to be at the top). While not without a lot of responsibility, there are not a lot of people telling you what to do, and more commonly, development managers are directing the actions of others.

Having worked for a couple of general contractors for years, I found the stress to be higher. Trying to finish a project on schedule, with the owner/developer breathing down my neck, while trying to make a profit on the job, and fighting with the architect, engineers, city, and subcontractors is a lot to deal with and can burn you out.

Also, having worked with dozens of architects, I believe their job to be stressful and grinding too. It usually includes long hours, pressure to get the plans just right (to ensure they comply with codes and regulations), tedious detailing and research work, and the fear of criticism from owners when change orders result from items initially missed or drawn incorrecly in the plans.

If you want to become a development manager mainly because it is less stressful and you get to tell other people what to do, you have the wrong motivation. Hopefully, you want this job in order to be a project leader, and because your skillset and experience match the requirements, allowing you to add significant value.

Lastly, individual salaries for development managers are typically higher than similar level positions at construction or design companies.

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