Real estate developers, or property developers, are professionals who deal with new building development, renovation and re-lease of existing buildings, purchase of raw land and the sale of all of these to others. Developers are the quintessential providers of real estate, both commercial and residential. It is because of them that we are able to build new properties on a regular basis and advance in property building technology. With so much responsibility resting on their shoulders it is important to know which ones are up to the task. Here, we will tell you the 5 characteristics that every good housing developer should have.
1. They have a vision for the future
The best developers are not afraid of taking some risks. They are the type of people who are able to find the best spots and visualise exactly what they can make of it. They are not afraid to innovate and make their properties unique, even if it means straying off the beaten path and doing something unconventional such as investing in green structures despite conventional structures being more affordable. The best developers are the ones who are pioneers in their field. This creativity is what brought us skyscrapers, malls, spas and all the places we now live and work in.
2. They build and maintain relationships
The relationships you make are a must in any business and they take time and effort to build. A developer needs to develop relationships with several individuals and organisations including bankers, contractors, architects, brokers, appraisers, lawyers, tenants and others. You cannot create a successful project without a successful team, and you cannot have a successful team without the right relationships. Strong communication skills are an essential skill needed for real estate developers when interacting with various individuals.
3. They pay attention to the environment and existing neighbourhoods
A responsible developer will not simply build a project without first conducting a proper reconnaissance of the area. They will ensure that the existing neighbourhood is not disturbed by the new development and they will do their best to preserve their natural surroundings. Caring and responsible developers are not out to make a quick buck. They ensure that the housing they are selling will remain sustainable in the decades to come.
4. Problem solvers
To develop a successful project takes skill and the ability to manoeuvre through all or any roadblocks that may pop up along the way. Good developers know how to solve problems. They are able to create solutions through proper site planning, dealing with adjacent land owners and finding ways to finish the job on time within the allocated budget!
5. Ability to Lead
Building projects require a lot of time and attention and a team effort. This starts with networking, screening and interviewing potential partners, architects, contractors, suppliers and labour force. Once a team is chosen, the building developer is the leader who will ensure that each member of the team gives their best and in the best way possible. Conversely, it also means managing those who step out of line when necessary. They’ll need to make sure everyone on every level is responsible for what they’re actually delivering and that they are help accountable for any errors they may make.
6. Extra point: An Adaptable house
Most people, when they build or buy a home, expect to stay in it for many years, if not decades. Therefore, a new home is likely to have to accommodate changing needs over a long period. An adaptable house is one that is able to respond to these needs without requiring costly and extensive alterations.
A good developer will build a property that can elevate quality of life for it dwellers. It will adapt to a family lifestyle, accommodating to the requirements of single professionals newlyweds, children, and the elderly. It will be oriented around communal areas, entertainment and sports areas as well as parks and playgrounds.
These points are a benchmark that you can use to identify a proper and responsible developer. If you find a developer who has these qualities then you can be assured that these developers are indeed the best and will not only get the job done but they will do it right. Be sure to keep your eyes open and be aware of who you are working with.
Want to know more about how to spot a good developer? Talk to us, send a message to hello@iqiglobal.com or call us at 012-299-6155 or 037-450-6655.
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