Navigating the Real Estate Development Interview

Brought to you by Tim Spindlove, Senior Recruitment Consultant, Développement immobilier
Phone: (778) 653 3097
Email: [email protected]

Key Questions for Aspiring Development Managers

The role of a Development Manager in real estate is pivotal to the success of any project. Responsible for overseeing the entire development process, from conception to completion, these professionals play a critical role in ensuring projects stay on track, within budget, and meet the highest standards.  

For aspiring Development Managers, facing a job interview with a Vice President of Real Estate Development requires thoughtful preparation.  Here, we outline key questions that a VP of Real Estate Development may pose to gauge the competency and strategic thinking of potential candidates.  

I have solicited the insights of a Senior Vice President of Development, Steve Jedreicich from Porte Communities to include his thoughts around answers he hopes to hear from potential candidates to the following, basic interview questions.  

Past Successes and Innovative Problem-Solving: 

• Can you describe a successful development project you managed in the past?
• What were the key challenges, and how did you overcome them?
• What innovative solutions did you employ to address these challenges?

VP’s Perspective: Emphasis here is on problem-solving skills, collaboration with team members and stakeholders, and the ability to think outside the box. I am keen to understand the candidate’s approach to overcoming obstacles and fostering loyalty among team members and project stakeholders.

Site Selection Strategy: 

• How do you approach site selection for a new real estate development project?
• What factors do you consider, and how do you prioritize them?

VP’s Perspective: For these types of questions, I would be interested in the candidate’s thought process during the crucial initial stages of a project. These questions evaluate the candidate’s ability to analyze and choose the most suitable locations for development.

Industry Trends and Staying Informed: 

• In the current market, what trends and factors do you believe are most influential in shaping real estate development strategies?
• How do you stay informed about industry trends, and what resources do you use? 

VP’s Perspective: This question assesses the candidate’s awareness of the industry landscape and their commitment to staying informed. Here, I am likely looking for candidates who actively seek and share market data and trends with the team and how a candidate views professional development. I want candidates who are striving to get better everyday.

Project Budgets and Timelines: 

• Can you discuss your experience in managing project budgets and timelines?
• How do you ensure that a development project stays within budget and meets its deadlines?

VP’s Perspective: With these questions, I want to delve deeper into the candidate’s ability to manage resources effectively. This question aims to gauge the candidate’s approach to budgeting and timeline adherence.

Stakeholder Management: 

• How do you approach stakeholder management, including interactions with local communities, government authorities, and project investors?

VP’s Perspective: Effective communication and stakeholder management are crucial for project success. I will always be keenly interested in the candidate’s ability to navigate diverse relationships and ensure a positive project environment.

Identifying and Capitalizing on Opportunities: 

• What strategies do you employ to identify and capitalize on emerging opportunities in the real estate market?
• Can you provide an example of a situation where you successfully seized an opportunity or navigated a market shift?

VP’s Perspective: This question assesses the candidate’s strategic thinking and ability to adapt to changing market conditions. I’m looking to know if the candidate is proactive in identifying and exploiting opportunities.

Sustainability and Environmental Considerations: 

• How do you incorporate sustainability and environmental considerations into projects?
• Can you provide examples of environmentally conscious initiatives you’ve implemented in previous projects?

VP’s Perspective: While this may not be a core responsibility for a Development Manager, I want to at least gauge the candidate’s awareness of sustainability issues and their potential contribution to the organization’s broader goals.

So how did you fare in this interview? 

Preparing for a Real Estate Development interview requires a blend of experience, strategic thinking, and a deep understanding of the real estate industry. Aspiring candidates should not only showcase their past achievements but also demonstrate their ability to adapt to industry trends, manage stakeholders effectively, and contribute to the overall success of real estate development projects. 

As we continue into the latter half of 2024 and you are considering a career move, first, give me a call, but second, take some time to review the above and consider the point of view of the VP you will be meeting, and try to think like a VP! 

Special thanks to Steve for his contribution to this article!

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