Real Estate Developer
Definition of "Real estate developer"
A developer is a person that designs or creates something that could be a concept, structure, product or service. An idea can be turned into something real, tangible and the person that does that is called a developer. The process followed by a person in order to create something can be called “development process” and the person is the developer.
As an example, a developer can be an individual that builds software. You might also find them under specific names such as programmers or software developers more. Web developers deal with web design and web development tasks. Content developers are usually individuals that create content fit to be published in a magazine or uploaded on a website.
Developers in real estate
Real estate development is the act of buying land, creating new buildings and selling the property for a profit. The person that coordinates the process is called a real estate developer. A real estate developer coordinates the whole process from the beginning to the end. From the initial project faze up until a building is created, the whole development process is imagined, initiated, orchestrated, and controlled by the real estate developer.
There is a whole process associated with creating a new building: deciding where to put it, borrowing money for the project, buying land, receiving permission for the building, design, build, finding buyers or tenants to occupy it and manage it. While there are many different counterparts that specialize in each individual step the real estate developers coordinate the whole process. Architects, city planners, inspectors, engineers, contractors, lawyers, surveyors, leasing agents are all coordinated by a real estate developer.
Developers in real estate are also risk-takers that invest a considerable amount of money in an attempt to gain a profit if the building is a success. In order for it to succeed, the real estate developer would have to rent out the building/facility or sell for a profit. This ultimately makes the real estate developer the person in charge, a risk manager, a person engaged in a business that can lead to high returns, but it can also cause severe losses.
Popular Real Estate Terms
Home designs developed after World War II incorporating modern technology, materials, and architecture including energy conservation methods to achieve a highly functional structure. ...
People can use the term disclosure in ordinary day to day activities. The definition of disclosure is to expose yourself, to show the truth without omitting any important information. ...
Rooflike cover that extends over any place to provide shelter from the sun, rain, or wind. ...
Generally, the escalation clause, often known as the escalator clause, means a provision in a contract enabling an upsurge in prices, bids, or wages. You must understand that they come into ...
Everyone knows what is a retirement home, but if we were to give our best most concise retirement home definition it would be of something like: real estate facilities that cater to retired ...
Value of a company's or person's name and reputation, As a result, the business will have a competitive edge, and generate better-than-typical future earnings. ...
Condition that affects the probability of losses or perils occurring. An example is possible earthquake or flood damage to a house. ...
Each payment made by the borrower is equal each period, usually monthly. Each payment is comprised of principal and interest. Interest is based on the beginning balance. The cash paid less ...
(1) Distribution channel through which originating mortgage lenders distribute mortgages to the Secondary Mortgage Market. Those purchasing mortgages distributed through the conduit ...
Have a question or comment?
We're here to help.