Break Into Real Estate Development
Hi. Sorry to bother everyone but I am a business major at a top Canadian business school and I am interested in RE development. How would you suggest I break in from my background. I am thinking of getting an appraiser job after doing a relevant certificate, and moving up from there, maybe in acquisitions. Alternatively, I was thinking of doing a 9-month law clerk diploma and then working in the legal space for some time in order to transition. What makes sense? Thank you.
If you're graduating from a top B school program, you shouldn't have any problem getting an acquisitions/dev/AM position immediately after your graduation. There's no need to take a divergent route! Is there a specific reason you wanted to do a law clerk, or appraiser stint prior?
Hi! Thanks for replying. Although I'm in a top business school there are just two real estate courses (finance and development), my GPA is not that great (average B+), and I do not have work experience. I don't see many people in my program go into RE from undergrad, I seen one go into lending? I think. RE development is a very legal business so I would've thought that working as a law clerk would be a good in. Also I've seen online some people go from appraisal to development, either directly or indirectly. So you believe I should look into acquisitions and AM? I'm just not very confident because I do not have work experience.
Also, do you think I should still highlight my GPA on my resume? Thanks.
As you’ll be a new grad, most people/companies aren’t solely making decisions based on your prior experience. They know you won’t know anything- even if you had an internship before, it won’t really define your competency.
what they want to see is interest and intelligence! You can easily convey to recruiters or better yet, current employees your interest through trainings, extra certificates, and genuinely being able to talk to the topics with intrigue!
Also, There’s nothing about your background that makes you more qualified to go into appraisal, law, acquisitions, AM. You’re the same level of qualified in the eyes of all those places. You shouldn’t have any problems, keep ya head up.
Canadian in development here - feel free to DM me. What school are you at? Going into the business straight out of undergrad isn't unusual at all, no need to go into appraisal (although its a common path to use to transition into acquisitions later).
Going straight into a true development role (i.e. working on planning, design and project management aspects) is more difficult from a business background, but no reason you can't start out in a Development Analyst or FP&A role (often interchangeable depending on companies, but some have both so important to understand the scope) straight from UG. In that role you'd be working on underwriting, cost tracking, progress reporting, capital calls, etc. and interfacing with all departments.
This is the most stereotypical "Canadian Nice" intro I could ever imagine for a WSO post!
I would echo what others have said.... find as direct a role as possible. The legal thing def seems to be wayyy far field to make sense (unless that is some other passion/interest of yours). Appraisal, as well as banking/lending and brokerage are all fine "related" type fields that are more open to UG grads than development or other buyside roles, so prob best idea if not working directly in development. Either way... the closer you are to actual development activity and the development process the better. The good news is that developers are usually very open to hiring people with varied, but related experiences.
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