Building the Development A-Team
November 7, 2019
Picking a Quality Team of Property Development Specialists
Putting together a quality team of trusted and experienced property professionals to deliver a project is, says Projects by Buxton Real Estate Director Heath Thompson, a two-sided issue. ‘From the developer’s point of view, assembling the perfect team is about helping you achieve what you want to achieve within the necessary budget, to create the desired profit,’ he says. Flexibility is critical and to make sure you get the right team matched to the right project, Heath’s advice includes being open to choose potential collaborators on their individual skills and strengths, rather than simply automatically choosing to work with someone you have worked with in the past.
‘More and more developers are using different architects and builders to suit the design and construction of different developments that cater to different markets,’ says Heath. ‘It’s a prudent approach that means you don’t have all your eggs in the one basket. Relationship-building matters but so does thinking outside the box and that might mean you work with someone different because they have unique insights that can enhance a specific development.’ In his own quest for companies to partner with on developments designed, constructed and sold under the Projects By Buxton Real Estate banner, Heath says a lot of research is done on exploring their track record and their proven abilities.
‘We put a few different hats on to help us choose the right people to work with on a development. The design might be stunning but if it is not geared towards the target demographic of potential buyers, it won’t be successful – and that’s no good for anyone involved. What buyers want more than anything is the confidence that comes from trusting a project they invest in actually comes to fruition,’ says Heath. ‘Because we work with architects, interior designers, marketing agencies, builders and landscape architects who understand that, we are proud to be part of developments that are genuinely sought-after.’
Financial Viability Turns Design Ideas Into Completed Projects
A proven track record and all-important financial viability are key, says Heath, when choosing to work with any development team. ‘There is a natural cleansing of the market that has seen some high-profile developers meet a tough end,’ says Heath of the current market conditions and increasing discernment of prospective buyers. ‘Developers have to make money to make projects happen but they also need to offer products that are well-priced for buyers. Having a commitment to meet the real needs of buyers is one of the most important things each and every member of any property development team should have.’
This is critical because the other side of creating a successful property development, is, of course, seeing a quality home completed – all the way through to settlement day. ‘With the right team behind each and every project we work on, we give buyers absolute confidence they are buying a property they will be able to live in and love,’ says Heath.