The real estate development job is not just mere designing or beautification of real estate but one that has multiple facets to it. It involves the tasks of purchasing land, renovating, selling a developed portion of the land to a suitable person or leasing it out, etc. Basically, there is a lot of responsibility in the management of the immovable property of a real estate developer. A real estate developer by profession Bernshtam has managed this task very well while working in the same capacity at Avalon Holdings, LLC. He graduated from Loyola School of Business and holds a bachelor’s degree in finance. Apart from this, he is also a very dedicated and involved person in the work of auto restoration.
One of the basic responsibilities of a developer is identifying and putting into shape the required changes to the property. This does not, however, refer just to the building. Instead, it refers to the land as well and dealing with the legal aspects associated with the piece of real estate. It also entails with it consultations with other related professionals such as architects and local government individuals who provide the permission for making the changes that need to be made. All aspects of real estate need to be looked into and taken care of when one is a real estate developer.
Once the permissions are sorted out then comes the task of designing, informs Bernshtam. For this purpose, the developer will have to work in coordination with a designer while giving their own ideas as well. If the property is a community-building then these designs need to be approved and also questions posed by the community may have to be answered.
Having successfully performed all these responsibilities then comes the financial angle of the project. The real estate developer will have to finalize the funding concerns and only after that begins the work of renovation or construction, whichever is applicable for the concerned project. The final responsibility of the developer after the completion of the construction is to make arrangements for the sale of the property or leasing it out.
A real estate developer is never complete without his counterparts, they comprise of the architect, inspector, planner, contracts, agents for lease, engineers, etc. The job of a real estate developer is in fact, considered an integral part of town planning in many places.
Reputed real estate developer Bernshtam will agree that individuals who have been real estate agents or worked in the construction industry often turn out to be real estate developers as they gain a fair understanding of the subject with years of working within a similar area. However, there are individuals who directly seek employment in this industry by getting employed in some real estate development company or even a consultancy.
This helps them get a first-hand experience in the trade and helps make them confident within a short span of time. They get to clearly understand the multiple facets of this profession of a real estate developer.