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15Jan/16Off

Real Estate Developer – What They Do

download (90)This is a professional who works in real estate and specializes in renovating existing developments, creating new developments, and then marketing and selling them successfully. A real estate developer will sometimes work with a partner(s) to help share the workload and share the risk. There are some who may work for a big company that conducts real estate development on a large scale. They may also use a real estate development as an investment tool in a diverse portfolio. If you decide that you want to become a real estate developer there are a number of ways it can be done. Some developers come from a background working as a real estate agent, architect, or contractor or they may even hold a degree in real estate development.

It can be very challenging working as a developer. They need to be able to assess a wide variety of future sites for development and then be able to determine whether these sites will be acceptable and workable or not. A developer needs to have the ability to look at an empty lot and be able to find future potential in the lot. They also need to be able to take a tour of a decaying building, creating a vision in their mind and on paper for remodeling it and then successfully selling it for a good profit. A developer usually works on a big scale, renovating buildings in order to create a number of units in the form of apartments, offices, retail spaces, and more, then selling or renting the spaces.

It is critical that you have experience in the real estate industry because you must know the market well to enable you to know if a project will be successful or not. They will also need to connect with the local government. This can help them to accomplish projects that can range from the people in the planning office who can give you recommendations to help push through a project to those on the city council and in the planning commissions who can help promote the projects.

Being a good developer means you are also a part of a much bigger team. Because you are developing or renovating sites you will need to work with landscapers, architects, politicians, contractors and other professionals that will help to see the project from the beginning to the end. You will have to select a good team and organize them wells. You will have to be able to manage them effectively by meeting the needs the team members and project while being able to stay in control of the development or renovations project.

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