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Real Estate Developers and Operators
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Real estate developers are companies engaged in activities ranging from the renovation of existing buildings to the purchase of raw land and the sale of improved land. They are also coordinators of the activities, converting ideas on paper into real property. Typically, developers purchase a tract of land, determine the marketing of the property,
develop the building program and design, obtain the necessary public approval and financing, build the structure, and lease, manage, and ultimately sell it. They work with many different counterparts along each step of this process, including architects, city planners, engineers, surveyors, inspectors, contractors, leasing agents, and more. While
construction is different from real estate development, many developers are also engaged in construction activities.
Real estate operators consist of companies engaged in renting, leasing, and managing residential and commercial properties. The real estate operations segment may also be involved in developing, real estate brokerage and agent services, real estate appraisal services, and consulting services.
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