How to be a Property Developer – Skills and Character Traits

| 18th June 2016 | 0 Comments

How to be a Property Developer – Skills and Character Traits

Can you be a Property Developer?

Yes you can!

There are lots of Websites which will give you the top 10 ways to become a Property Developer. All useful information but it doesnt drill down into the core skills and character traits required. This post briefly describes the skills and character traits. The rest is up to you.

 

Education

 

Property developing - education and personal development

 

It is possible for anybody to become a Property Developer but you will need to hone certain skills and educate yourself using the vast range of resources available to you – books, magazines and online.

Start today and read/watch all you can about:

 

  • Communication

  • Organisation

  • Negotiation

 

Do you need to be a builder to become a Property Developer? No you dont….

 

There are huge number of Property Developers out there who have never lifted a hammer or wielded a saw. If they did then it would probably cost more to put their work right than any saving they had made Doing it Themself.

 

How to be a property developer

Your time may be better served managing rather than doing and managing.  Some Property Developers think that they need to get down and dirty but this just isnt the case.

 

Personal Development

 

OK, so you can get started as a Property Developer without any practical skills. However you will need to be organised, possess computer skills, be able to manage people, not be afraid to negotitate and to keep a cool head when all those around you are losing theirs.

You will need to have some idea how the work is carried out so when the work has been completed you will be in a position to critique.

Also it would be good to know what tools each trade should be using to carry out their function. When a trade turns up on site they will bring with them a range of tools.If a carpenter only turns up with a hammer and saw then be very worried; a good carpenter will have a large number of power tools at his disposal as well as chisels, planes etc.

You should also know the sequence in which the work is completed. You will then be able to use this knowledge to draw up a programme of works.

As mentioned before there are lots, and I mean lots, of books, magazines and online resources that you should be reading/watching to learn as much as you can about the build process and individual trades.

Your education doesnt stop when you leave school. Your personal development lasts a lifetime.

 

Thick Skin and Nerves of steel

 

Property Developing is a high risk business and you will be dealing with a lot of Property Professionals on a daily basis. They will test you and you will be found wanting especially early on in your career. Trades especially can smell out newbies and will try it on. This is normal and you musnt ever take anything personally. Learn from it and fall forward. Dont brood on the past, plan for the future.

When negotiating with trades, merchants, anybody in fact, treat it like a game of poker…he who blinks first loses.

 

Property developing - poker face

 

Make sure you hold all the cards from the start and have leverage. Make what you are offering more inviting than the next person. For example when I was negotiating with merchants on my last project I made sure they knew that if they gave me the best prices possible first time round i would give them ALL my business for the entire project. This galvanised their thinking and I did get the best prices and I did stick with them for the whole project.

 

I will write more posts on this subject when I have the time but for now this I hope will get the juices flowing.

So, get out there and buy some books and magazines covering all the subjects that, when they come together, will form your Property Developing education.

 

 

How to be a Property Developer

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Category: Personal Development, Property Developing

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