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Real Estate Development Project Manager Employment Information
Real Estate Development Project Manager Overview
Real Estate Development Project Managers are generally tasked with overseeing the development of new real estate developments. While projects that these managers may oversee largely are new construction, some managers are tasked with overseeing major renovation projects. They may be responsible for identifying new development opportunities, managing development teams and other third party contractors, monitoring budgets, ensuring compliance and completing other important tasks. These professionals may also hold positions as land development project managers, real estate construction managers and other related positions.
Real Estate Development Project Manager Education Requirements
A Real Estate Development Project Manager must generally be highly knowledgeable in construction, real estate and business management. Because of this, most positions require the successful applicant to have at least a bachelor's degree in a related field. Many also require the successful applicant to have several years of related industry experience. Positions that oversee the development of larger real estate developments may require considerably greater experience, and some may require the individual to present a portfolio of successful developments that he or she has worked on.
Real Estate Development Project Manager Job Market
There are currently approximately 213,000 individuals working in this field across the country. These positions are found in all areas of the country, but they are strongly dependent on the strength of the real estate market as well as on the availability of land for new developments. Because of this, areas with wide open spaces, such as Texas and Alaska, have the largest concentration of job opportunities in this field. The non-residential and residential real estate sectors have the largest number of openings. Because the real estate market is expected to continue to improve in many markets across the country within the next few years, job growth in this field is expected to increase.
Real Estate Development Project Manager Salary
The median annual salary of a Real Estate Development Project Manager is $92,700, and some of the highest paid individuals in this field earn more than $146,000 per year. The non-residential or commercial sector of real estate development is the area that offers the highest salaries, and residential building construction professionals statistically earn the lowest salaries.