The Leser Group (2020)

The key stages of the development process of a real estate program Experts from real estate development company, The Leser Group, share the key stages of the development process of a real estate program: Key stages in real estate development According to experts from real estate development company, The Leser Group, a real estate program is a construction carried out by a real estate developer. The realization of such a project can take several months, even years, before it leaves the ground. In this article, discover the key steps in the process of developing a real estate program. Land research The Leser Group experts indicate that the promoter's number one goal? Sell your project. Whether we are talking here about housing, commercial real estate, commercial buildings or even office buildings, location is always the number one factor to take into account. In order to carry out his project, he must have knowledge of town planning. His ability to negotiate will be paramount once he finds the ground that suits him. These qualities are specific to the profession of land prospector. The profile sought is very often that of people with a very broad network at local or national level. This will depend, in large part, on the size of the promoter. The next step, according to the Leser Group experts, is where the promoter will concretely initiate his project: The developer first hires an architect. He is appointed to design the concept and define the more technical aspects of the project. At this stage can be added the intervention of a surveyor. The experts from the real estate company, The Leser Group, indicate that the real estate developer aims to make production costs profitable. It will therefore implement a market study to determine local demand. A feasibility analysis of the project will also be carried out in parallel. Once these studies and diagnoses have been established, the developer will acquire the land generally subject to obtaining the building permit that he will have filed with the Town Hall. The building permit obtained and purged of any appeal, the real estate developer can turn to the operational set-up and construction work. Marketing the program According to The Leser Group experts, for the promoter, this step is crucial, it will largely determine his profitability on his operation. This is where you see if the market research has been done correctly or not. The promoter will produce commercial support, sales plans, define the prices of the lots (in the case of housing). Depending on its size and the market, the promoter then has several means of marketing his program. It can outsource through agencies or have its own sales team (the cost is usually significant, this is the case for larger promoters). The Leser Group experts indicate that the real estate developer will try to sell his homes before starting the work. Indeed, the financing capacity is an essential step in the smooth running of operations. Banks may require a certain percentage of homes sold before releasing the construction loan. Learn more about marketing. Construction The Leser Group experts (schedule an appointment with them) share that the property developer is then designated as the client. He must manage the progress of the site and may be penalized in the event of late delivery. Buyers of off-plan lots (Sale in Future State of Completion) may in certain cases turn against them if the delivery is too late. The promoter's profitability may then be reduced. The architect or the design office will help him coordinate construction actions and monitor the site. During this stage there is a technical risk of construction, unsuitable materials, late delivery, bad weather, etc. Once all the work is done, the real estate developer takes care of summoning the owners. They will thus be able to take delivery of their homes. Find our articles on the topics of housing construction and tertiary construction. The delivery The Leser Group experts explain in their articles on OSF, that this can be tricky if the deadlines have not been met or certain services are not performed perfectly. During delivery visits with the owners, a Delivery Report is drawn up between the parties. The goal is to note what are the apparent reservations or defects in the accommodation. These reservations must be lifted within 30 days by each company concerned and under the control of the promoter. In the event that a reservation has been forgotten or appears later, the owner can assert the guarantee of perfect completion. He may then ask the promoter, by registered letter, that this new reservation be noted and then lifted. However, he must make his request within 30 days of receiving the letter and within 12 months of delivery. The total time to complete a real estate program is generally considered to be between 18 and 36 months. Duration may vary