A real estate developer is regarded as one of the parties involved in the building process contemplated in the development of a property project. Real estate developers are therefore the entities that take the initiative to develop homes for subsequent sale.
Among their various functions, real estate developers have the capacity to make decisions, drive, plan and finance a new development which can then move on to the marketing and sale of the homes or residential development.
Functions of real estate developers
Although the terms real estate developer, construction company and estate agency are sometimes confused, it should be noted that there are entities capable of integrating all phases of the development of a property project. These stages can be divided into:
- Acquisition of the developable land on which the residential scheme is to be carried out.
- Construction of the residential building or buildings. This stage may be undertaken either by a construction company external to the developer or by an in-house division of the developer itself.
Marketing and sale of the residential development.