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Property developers
Please add Geni profles of property and real estate developers to this Occupations project. Profiles must be set to public. Please feel free to contribute to the project overview, especially the "resources" section, and the photos and documents area also.
From Wikipedia
Real estate development, or property development, is a multifaceted business, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of improved land or parcels to others. Developers are the coordinators of the activities, converting ideas on paper into real property. Real estate development is different from construction, although many developers also construct.
Developers buy land, finance real estate deals, build or have builders build projects, create, imagine, control and orchestrate the process of development from the beginning to end. Developers usually take the greatest risk in the creation or renovation of real estate—and receive the greatest rewards. Typically, developers purchase a tract of land, determine the marketing of the property, develop the building program and design, obtain the necessary public approval and financing, build the structures, and rent out, manage, and ultimately sell it.
Sometimes property developers will only undertake part of the process. For example, some developers source a property get the plans and permits approved before on selling the property with the plans and permits to a builder at a premium price. Alternatively, a developer that is also a builder may purchase a property with the plans and permits in place so that they do not have the risk of failing to obtain planning approval and can start construction on the development immediately.
Developers work with many different counterparts along each step of this process, including architects, city planners, engineers, surveyors, inspectors, contractors, leasing agents and more. In the Town and Country Planning context in the United Kingdom, 'development' is defined in the Town and Country Planning Act 1990 s55.
from Profession: Property developer
Generally speaking, the prospective buyer decides to apply to a developer if none of the existing properties visited corresponds to his criteria. Buying a new property under construction then appears a good solution. The property developer is a good solution but what exactly does he/ she do?
His task is to develop and build at his own risk a property on a plot of land, with the aim of selling the property to one or more buyers. The typical example is an apartment block.
At the moment, there are very few developers as such. This is because the downturn in sale prices, the risks of unsold properties, the financial costs and accordingly the large decline in margins make construction at one's own risk virtually impossible.
This profession is therefore at present exercised by general companies or so-called turnkey companies, which set up a property development team.
Given the size of the projects developed, developers are generally the only ones still capable of acquiring the last few well-situated plots of land. As they wish to sell their properties quickly, they also tend to pass the economies of scale on to you and offer you reasonable sale prices.
patron saint
The patron saint of real estate is St. Joseph. "People across the country, if not the globe, often bury a small St. Joseph statue in the yards of properties they hope to sell. Many believe the statue will bring them good luck in selling the home."
see more: St. Joseph Statue, Ask Sister Mary Martha, Our Realtor who art in heaven ...
resources
this project is a HistoryLink project