Organizing a Real Estate Development Company

Real estate development is a business that is comprised of several activities ranging from restoration and re – lease of present structures to the purchase of land and the sale of developed parcels. Developers coordinate activities and convert written ideas into real property.

There is a distinction between “real estate development” from “building.” Louis Lesser who wrote an article in New York Times emphasized that the job of a real estate developer is to purchase the land, finance the contract and let the best builders build at a set price. They do not build them selves.

Developers purchase land, put money into real estate contracts, build or let builders complete projects, craft, visualize, manage and organize the development process all the way through completion. The restoration process is a great risk for developers but in the end they receive the utmost rewards. The responsibilities of developers typically include purchasing land, finding out the marketing of the property, making a building program and design, acquiring the required public approval and investments, constructing the structure and leasing, controlling and in the end, selling it.

Along each stage of the process, developers work with various persons such as architects, engineers, city planners, surveyors, contractors, inspectors, leasing agents and more.

How to Enter a Development Field

There is no single way to succeed in the field of real estate development. In fact most developers come from different fields such as mortgage banking, real estate brokerage, construction, consulting, architecture, lending, legal services and others. However recently, there have been educational programs which grant a Master of Real Estate Development degree. Graduate programs in real estate development are the most all – embracing education in the industry. A Master of Science in Real Estate and an MBA are other examples of formal education.

Organizing a development team can be done in many ways. A company could offer several services from architecture to engineering. However it is also possible for a development company to be made up of only a single principal and a small number of personnel who contract with other companies for each service when required.

The development process necessitates the expertise of various professionals such as landscape architects, architects, civil engineers, site planners, market consultants, attorneys, environmental consultants, soils engineers and surveyors to deal with the many aspects taken in the field of real estate development.

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Sarasota Florida Real Estate