Being a real estate agent work is not an easy task. To create a real estate development, a prior work of the company is required: looking for projects that have certain characteristics such as quality, goodwill, or an excellent location, with the support of the experience in the field.
For all the above, before making any purchase in the field of real estate, it is very important to know certain characteristics of a good development, which gives you the security of an excellent investment.
Characteristics of a good real estate development
As we had said, before acquiring a property it is vital to know if the real estate agent in charge has the necessary experience and trajectory, with the objective of having a prior support.
One of the great qualities that real estate requires is proactively, which will lead you to carry out various studies before starting any project to minimize the risks associated with your investment. This is why a good development brings back a whole planning on the location, size of the development, features and amenities, etc.
Invariably, a good development must have the best materials available and follow strict processes in its construction, ensuring a final product of the highest quality. Along with this, it is important to implement the use of new materials and technologies that allow for avant-garde designs with the certainty that they will be durable.
Potential & long-term vision:
Continuing with what we commented in point 2, it is vital that the planning of the development is based on the potential of the project and a long-term vision. This means that we look for a development not only relevant in the present, but in the following years. This is related to locating it in an attractive area to generate surplus value, as well as having plans to create different stages within it. Of course, this also becomes a very important point for investors.
Scheme of Participants of the Private Construction:
It is that person, or group of associated people, who make the investment and the development of a certain Entrepreneurship covering its project, construction and commercialization. In the case of public works, the developer is the State; In the case of the corporate building of a large company, the developer may be the same company. Within the private work you can define two preliminary categories of developers:
- Stable developers: Those who over the years have maintained their presence through the generation of several ventures, concentrating most of their business in the construction of real estate projects.
- Occasional Developers: Those whose “core business” is not the construction but take the decision to approach a project under very specific market conditions motivated by the possibility of doing good business in a favorable economic context (for example, a group of small investors that are associated to build an apartment building).
Another example of an occasional developer is the aforementioned of companies that face the construction of their own corporate building. A very famous real estate developer from Canada is rocking the world of real estate in Canada.
The development of the enterprise requires the generation of areas in charge of the project, construction, direction and commercialization of the enterprise, as well as an administrative, financial and legal structure.
In the context of the preceding scheme, of all the areas mentioned, the only ones that belong to the Developer’s structure are the administrative and financial sectors, with the remaining areas being outsourced.