Property is big business so it’s no wonder that property developers are popping up all over the place at alarming rates. With that said if you’re in the market for a newly developed home, how do you know if your property developer is the real deal and not some fly-by-night?
We’ve compiled a list of some of the traits of successful property developers to help you weed out the phonies.
A successful property developer or development company has vision. They are able to view a space in its entirety and not just in the moment when making money matters. They are able to see areas that are on the rise and match that neighbourhood with a development that compliments and serves the needs of the potential new community.
High Risk Tolerance
Property development is risky business, and it takes a real special kind of person or group of people to make an investment in a project that could potentially bankrupt them. Prudent developers are capable of taking calculated and measured risks and they constantly look for ways to mitigate this risk which involves doing research and investing in projects that have a higher likelihood of success which is good news for you as a buyer.
Good Negotiation Skills
A good property developer has the exceptional ability to negotiate. These skills come in handy because developing a property is a lengthy business that involves input and consent from numerous parties who can either help or hinder the process. From municipal boards, to government and all the other third-parties in between, good property developers know how to negotiate for the best possible terms and build good relationships with these people for the future.
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