What does a real estate developer do? Most can talk about underwriting and raising capital, but what sets developers apart is their ability to collaborate with a development team and establish a unified vision.
During a recent series of meetings the UNC Kenan-Flagler Real Estate Club members learned more about what types of consultants make up a development team and what and how they contribute throughout the development process.
Imagine, an architect, a general contractor, a soil engineer, an entitlement manager and a city planner all walk into a room and you are a new developer. How do you harness the abilities of each and how do you deploy them in the most efficient manner? To complicate matters, they each speak their own language, have separate timelines and constraints and will demand a priority of your time.
When asked “what makes a great developer?” they all gave the same response: good communication.
Such a simple idea, yet difficult to master.
By Bryan Ward (MBA ’18)