The developer must be able to analyze future markets and predict growth, income, and population trends in a given area. He or she must also stay abreast of future highway projects as well as other private developments that could impact his or her project. Developers must constantly work with city and government officials regarding zoning regulations and cost sharing for new roads, utilities, etc., that are needed for a new development. Many larger developers have created REITs over the years in order to receive equity financing for their projects. Still others may be financed by pools of investors who form partnerships to build a given project.
Developers usually hire salespeople to help to market their properties.
Being a salesperson for a developer is a great way to gain exposure to the area. Developers often include a salary for themselves while the property is being completed. However, large profits can not be made until the property is sold or operating, which can be quite a few years after it is first planned. The rewards of this business are great, but involve a great deal of risk. Corporate Real Estate Corporate real estate professionals are responsible for buying, selling, building, and managing real estate owned by corporations.