: 2019-04-25 Modified date : 2019-11-02
The real estate developer is considered an important part of every successful real estate investment. Choosing the real estate developer as an investment partner is one of the most important initial steps that an investor should not waste when starting his project. To ensure the safety of his investment and obtaining the optimum result, especially with the increase of projects supervised by a large number of developers and real estate development companies.
So who is the real estate developer, and what is his job? What does the concept of real estate development mean? How does the real estate development process take place? And what should you know from the real estate developer before you hire him?
This is what we will answer in our next article, explaining an important issue that investors should not overlook before venturing their capital without adequate study of their new projects.
The real estate developer: is a person or company developing a particular area or location, or rebuilding and updating an existing entity, where they develop the project idea, feasibility study, sources of financing, consultant identification, contractor, marketing study and sales strategy and all of this contributes to the success of the project.
The developer has multiple options and accurate knowledge of the real estate market, the project's outcome, and the aim of its development after the completion period. He coordinates the various activities of the development process, which transforms the creative idea from an idea on paper into reality on the ground. The role of the developer differs entirely from the role of the contractor and consultant.
Real Estate Development: a profitable business and investment, including modification activities, such as the partial or total repair of old or neglected properties, the renovation of existing buildings, the purchase of vacant land, the establishment of an innovative project, and subsequent marketing and sale.
Consequently, the real estate developer is a person who looks at all the details of the project and is aware of his strengths, weaknesses, and successes in the project he supervises before starting it. He may remark on things, which may not be noticed by the investor or the contractor usually; where the contractor in some of the conditions may not notice what the developer can see where he does the development of feasibility studies that will achieve the best possible results.
The real estate investor often seeks to invest the land for a limited period for the purpose of buying and selling, seeking profit, without knowing much of the important data. The role of real estate developers is to find new raw land, through which to produce real estate products that meet the real needs of the community, between residential, industrial or commercial products...
The developer is not a contractor or a real estate consultant; he is a development manager who provides the best idea for the project through detailed feasibility studies, funding sources, selection of the best consultant, the most suitable contractor, and the marketing plan and sales strategy.
The name "real estate developer" is only for those who provide integrated services in the field of real estate, and those who add value that helps to build the project quickly, while avoiding mistakes in the work, and provide good management and marketing of the property and maintain its value.
The real estate developer is distinguished from the first moment to study the idea of the project with his previous experience in his field and with his specific remarks the real estate developer can assist in the development of the project to be started from the first moment through his independent view of the investor and contractor's view.
Then the developer manages the new property and follows up its operation while maintaining its value and marketing continuously to ensure the highest amount of profits.
The commitment of previous steps by the real estate developer contributes greatly to the success of the project and to achieve the highest possible profit.
It is important to know some important things before contracting with the real estate developer who will oversee your new project, to ascertain the extent of his ability and experience, to be sure about the future of your project that you will develop in his hands, and to enhance mutual trust between the investor and the developer.
The above notes help to a great extent in knowing the level of developer and assessing him before contracting, which helps in making the right decision to choose an appropriate developer.
Edited by: Imtilak Real Estate ©
Source: almalnews- weetas
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