Over the last two weeks, we have explored why the services of a Real Estate Developer should be engaged in a building project. In addition, we have explored some of the unique features of ideal homes built by Real Estate Developers as an indicator of what to pay attention to when scrutinising their track records.
In this post, to round up, we will talk about the unique characteristics to look out for in a Real Estate Developer before working with them.
Why is this important?
Building a house takes a considerable amount of investment. Indeed, for many, it is the single largest financial investment they would undertake throughout their lives. It is crucial, therefore, to ensure it is done right. So, here are a few qualities that are must-haves for a Real Estate Developer and which cannot be ignored.
Real estate developers routinely interface with different types of people- especially while project work is in progress. Their communication skills must be extraordinary. They must be polite and clear, avoiding ambiguities as much as possible, with their workers, contractors, and clients.
The need for great communication is even more important during the lifespan of a project where expectations, milestones and outcomes have to be clearly conveyed- and regularly too. Furthermore, when a construction project begins, there are the occasional unforeseen issues that may arise. When these happen and tempers rise, great communication can help ease tensions and get the project back on track.
Real estate is, for the most part, a people business. As a result, relationships, even though they take time to develop, are an absolute must for Real Estate Developers. They must be able to initiate, establish and maintain important relationships.
As a successful team is needed to create a successful project, a great Real Estate Developer must have key relationships with bankers, equity sources, architects, general contractors, civil engineers, brokers, appraisers, lawyers and other professionals in the field. They must also be able to quickly build rapport and establish trust with clients.
While a plot is still in its barren or extremely chaotic form, a great Real Estate Developer has the ability to identify the potential of the space in alignment with their client’s needs and make the most of it with well-planned spaces.
They must be able to work with smaller plots (300sqm, 450sqm and 600sqm) with as much adroitness as they work with bigger plots and still emerge with outstanding structures with optimised spaces ideal for enhanced living as well as design aesthetics in line with their clients’ tastes and stature.
Every development project begins with an idea. All good Real Estate Developers, whether beginning a ground up development or working a remodelling project, must have the uncanny ability to take their ideas and bring it to life, creating something magnificent out of nothing. In addition, skilled Developers consistently push the envelope with new and exciting designs which eventually culminate in the places we live, work and play.
Before engaging the services of any Real Estate Developer for your project, it is necessary to know their track record.
A Developer who has an impressive track record of beautifully designed and excellently finished past projects with testimonies is more likely to give you peace of mind as well as satisfaction than one without any track record.
These qualities outlined are so important that if a Real Estate Developer is lacking in even one of these, you may run into avoidable problems if you go ahead to engage their services for your project.
There is always so much responsibility resting on the shoulders of any Real Estate Developer, that having these qualities gives assurances of their ability to efficiently handle the responsibilities.