The developer is the key person of any project

Not so long ago, a new word appeared in our vocabulary, which many heard (and more than once), but rather vaguely imagine its meaning. It is borrowed from English (from develop) and is translated as "to develop", "to transform", "to improve". And the person who is engaged in this very transformation is called a developer. This definition is suitable for any area to which these processes apply, but it is most firmly rooted in the field of real estate. Thus, the development is aimed at the qualitative development of real estate, as a result of which there is an increase in their value. This is a very profitable business, requiring serious investments and large time and labor costs.

In this process, the developer is the key person who organizes all of its stages, starting from an idea, creating a project and building, ending with the sale of the object (sale or lease). As a rule, he owns the money resources invested in the project, that's why all financial risks fall entirely on his shoulders (rather, his pocket).

What is the main goal pursued by the developer? This, of course, extracting profits by maximizing the value of your project. In this endeavor, he can start a number of such works as the repair or redevelopment of the structure, its interior decoration. All these measures will lead to a qualitative improvement of the facility, and, consequently, will increase its value in monetary terms. This development is also called renovation.

What are the responsibilities of real estate developers? These include the following stages of work:

• The development of the idea and concept of the future object;
• The organization of financial security (if necessary - the search for investors);
• The development of a feasibility study and the selection of a construction team;
• Registration of legal rights to the property;
• Design and construction ;
• Putting the object into operation;
• Search for a broker to sell real estate.

The list is considerable, and it is natural, because the developer is one who accompanies all stages of construction and realization of the object from the beginning to the end. And the last moment is just the most pleasant - the extraction of commercial benefits. And if the project is implemented successfully, then it will work very well. The largest developers are doing on real estate (and this is not only houses and their complexes, but also business and shopping centers) millions of dollars. Naturally, in the process of work they cooperate with various organizations, including banks and insurance companies, construction teams and brokers, and part of the profits goes to cover their services. However, the main beneficiaries are those who manage all this project, namely, developers.

At present, this term has become more widespread. Developers are called and developers of software, and those who are engaged in the development and improvement of business processes in various fields. In general terms, these are people engaged in the type of activity, which is one of the areas of management and gives very significant results both in financial and in economic terms.