Profession property developer

Property developers buy land, finance deals, order construction projects and orchestrate the process of development. They purchase a tract of land, decide on a marketing strategy, and develop the building program. Developers must also obtain legal approval and financing. When the project is finished, they may lease, manage, or sell the property.

Personality Type

• Enterprising / Realistic

Knowledge

• Contract law

  The field of legal principles that govern written agreements between parties concerning the exchange of goods or services, including contractual obligations and termination.

• Real estate market

  The trends concerning the buying, selling, or renting of property, including the land, buildings, and natural resources encompassed within the property; the categories of residential properties and properties for business purposes which such properties are traded in.

• Budgetary principles

  Principles of estimating and planning of forecasts for business activity, compile regular budget and reports.

• Investment analysis

  The methods and tools for analysis of an investment compared to its potential return. Identification and calculation of profitability ratio and financial indicators in relation to associated risks to guide decision on investment.

• Market research

  The processes, techniques, and purposes comprised in the first step for developing marketing strategies such as the collection of information about customers and the definition of segments and targets.

Skills

• Compare property values

  Obtain information on the value of properties comparable to a property which is in need of valuation in order to make more accurate appraisals and assessments, or to set or negotiate the price at which the property can be sold or leased.

• Coordinate marketing plan actions

  Manage the overview of the marketing actions such as the marketing planning, internal financial resource granting, advertising materials, implementation, control, and communication efforts.

• Estimate profitability

  Take various factors into account to calculate the cost and potential revenues or savings gained from a product in order to evaluate the profit that could be generated by the new acquisition or by a new project.

• Follow health and safety procedures in construction

  Apply the relevant health and safety procedures in construction in order to prevent accidents, pollution and other risks.

• Ensure compliance with legal requirements

  Guarantee compliance with established and applicable standards and legal requirements such as specifications, policies, standards or law for the goal that organisations aspire to achieve in their efforts.

• Assess financial viability

  Revise and analyse financial information and requirements of projects such as their budget appraisal, expected turnover, and risk assessment for determining the benefits and costs of the project. Assess if the agreement or project will redeem its investment, and whether the potential profit is worth the financial risk.

• Manage contracts

  Negotiate the terms, conditions, costs and other specifications of a contract while making sure they comply with legal requirements and are legally enforceable. Oversee the execution of the contract, agree on and document any changes.

• Maintain financial records

  Keep track of and finalise all formal documents representing the financial transactions of a business or project.

• Keep records of work progress

  Maintain records of the progress of the work including time, defects, malfunctions, etc.

• Audit contractors

  Examine and document different industry contractors, in order to determine whether they comply with regulations and standards in relation to safety, environment and quality of design, construction and testing, etc.

• Provide cost benefit analysis reports

  Prepare, compile and communicate reports with broken down cost analysis on the proposal and budget plans of the company. Analyse the financial or social costs and benefits of a project or investment in advance over a given period of time.

• Execute feasibility study

  Perform the evaluation and assessment of the potential of a project, plan, proposition or new idea. Realise a standardised study which is based on extensive investigation and research to support the process of decision making.

• Create a financial plan

  Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.

• Monitor contractor performance

  Manage the performance of the contractor, assess whether they are meeting the agreed standard and correct underperformance if needed.

• Negotiate land acquisition

  Negotiate with landowners, tenants, mineral rights owners or other stakeholders of land containing mineral reserves in order to buy or lease the land.

Optional knowledge and skills

Source: Sisyphus ODB