Study information to help advise strategic decision making.
As a Real Estate Developer, you are the coordinator for a wide variety of tasks, ranging from purchases and renovations to sales. And it’s you, the Real Estate Developer who makes an idea on paper come to fruition, through a property bought, constructed, or sold. To do all of this, you’ll need strong communication and financial skills, as well as marketing and management abilities.
The daily tasks of a Real Estate Developer will vary depending on your specific department and what kind of company you work for. But one of the major, arguably most important, aspects of real estate development that you should master is recognizing the potential in a property. Whether it’s just a raw piece of land, or one that’s already developed, you should have an innate ability to see when some acreage isn’t being used to its fullest potential. In addition to seeking out properties, you’re also responsible for securing financial investors.
Once you’ve landed some land, the second part of the process takes over: the renovation and/or construction. This is where, if you purchased a large tract of land, you work with construction firms, Architects, Designers, Urban Planners, and potential commercial buyers to figure out the best, most profitable use of the land. Then you oversee the demolition, renovation, and construction of the space.
Once your property is bought and the new owner moves in, you may still work with the site as Property Manager, performing clerical duties and site maintenance. But some real estate development firms choose to turn that responsibility over to another business once the property’s been sold.