Real Estate Developer Roles
A real estate developer is, as the name implies, responsible for developing real estate property into a condition that will make it more attractive to purchasers. In rare cases, the real estate developer will actually oversee the construction of a structure on the property, in other cases, however, a real estate developer will not move past the stage of proposing changes and improvements to the real estate property which is in their care.
A real estate developer is in a multifaceted business, and encompasses activities that range from the renovation and re-leasing of existing buildings and can extend to the purchase of raw land, and even to the sale of real estate property parcels that have already been improved and then sold to other individuals. A real estate developer bears the responsibility for coordinating activities and converting ideas on paper into the practice of real estate property.
A typical real estate developer is distinguished from construction because it makes the distinction that a developer does not themselves build or improve upon the real estate property. A real estate developed buys the land, finances the deal, and then finds other individuals to build upon the real estate property.
Real estate property is bought, by a developer, who then finances deals,
arranges to have the real estate property built, and then has to create, imagine, control, and orchestrate the process of developing the real estate property from beginning to end. In many cases, the real estate developer takes on the largest risk in a real estate property deal.
Real Estate Agency Basic Facts
Real Estate Broker
Real estate brokers operate in the United States of America, with the same role being filled by real estate agents in Canada. A real estate broker or real estate agent serves as an intermediary for the buyers and sellers of real estate property. In the United Kingdom, real estate brokers and real estate agents are known as estate agents.
In most jurisdictions of the United States of America, individuals must be licensed before they are able to become real estate brokers or real estate agents. Presenting oneself as a real estate agent or real estate broker without having a valid real estate broker or real estate agent license is illegal in almost all jurisdictions.
In the event the buyer or seller is acting on their own behalf, they are not required to become licensed as a real estate agent. Becoming a real estate broker, however, will be needed if the individual works on another person's behalf.
Many jurisdictions allow real estate lawyer to handle real estate sales and receive compensation for their work without also having to become real estate agents due to the understanding that lawyers who fill the role of real estate agents have the requisite level of legal knowledge needed to complete the sale, as well as upholding the ethical standards that a real estate broker is held to following.