The Development Process and the Parties Involved Essay Example

confusion. If multiple real estate brokers submit properties for review, developers may struggle even more with decision-making. However, there is no set rule governing the process of making a buying decision. While some investors rely heavily on instinct, most have established systems to evaluate different properties.

Some investors have rigid criteria for choosing real estate and refuse to stray from them. A crucial first step in selecting viable projects is to resist the forceful sales strategies used by some brokers. These brokers can use persuasive techniques to make an ordinary property seem exceptional. With their sales skills, they can convince many people to buy almost any property. It's better to decline a potentially beneficial opportunity than invest in a disadvantageous one.

Development objective: To ensure a reliable land evaluation, a multidisciplinary team comprising social and economic experts, as well as biophysical scientists, is necessary for collecting and analyzing all pertinent data. Collaboration among team members throughout the study is crucial to allow them to contribute their specialized knowledge and perspectives. The quality of the underlying data directly impacts the credibility of the land evaluation.

The study should ideally gather fresh data to address all questions, but limitations in time and cost often hinder a thorough approach. However, it is crucial to ensure the reliability of each data source. Shortcomings that are not rectified must be emphasized in the evaluation report. Defining objectives is a critical step in the evaluation process.

The text explains that determining the scope of a study is important as it affects the time, cost, and direction of the investigation. It also highlights the significance of aligning the study objectives with the planner's needs. While minor

changes can be made during the study, making a major change at a later stage would require repeating costly field work. The decisions made at this stage depend on whether the study serves a national, district, or individual farm level, which determines the level of evaluation required. It emphasizes that increasing the intensity of the study can greatly increase its duration and cost, so unnecessary details should be avoided.

The most efficient approach for a study often involves dividing it into successive stages of increasing detail. The objectives should define the boundaries and size of the study area, as well as provide a preliminary list of land use forms to be evaluated. Additionally, they should specify whether these evaluations should be conducted qualitatively or quantitatively. The study team needs guidance on these matters to ensure that their choices align with the interests of the planners and aspirations of the local community. When setting objectives, it is important to acknowledge the need for comparisons in land-use planning. While the primary objective may be determining the suitability of a particular land use, this can be best achieved by comparing it with other feasible uses for the same land.

When conducting a land assessment, it is crucial to compare the new irrigation plans with the current unimproved uses of the land. This comparison allows for a thorough evaluation of the benefits that can be achieved from the planned development.

The parties involved in development

To ensure successful development, it is important to form a development team as early as possible, even without a specific property in mind. This process should never be rushed as it plays a vital role in development. Depending

on the initial plans, several professionals may be needed to initiate the project. While hiring a surveying firm from a phone directory is simple, finding one that you feel comfortable working with may take weeks or longer.

Finding a company that can meet your specific requirements may take a considerable amount of time. Large-scale projects typically involve various skilled professionals, such as land planners, architects, landscapers, engineers, designers, accountants, tax attorneys, project managers, soil engineers, real estate agents and consultants. The makeup of the development team will vary depending on the nature of the project. For example, a basic subdivision of a building lot usually doesn't require extensive technical knowledge. Additionally, the location of the development also affects the necessary experts.

Some regions have varying skill requirements and the types of experts needed for a project can be influenced by code requirements and zoning regulations. Marketing consultants may be utilized to assess the feasibility of a project, with options ranging from real estate agents to general marketing consultants. Numerous developers acquire the ability to serve as their own marketing experts.

Small projects typically lack the financial return to justify significant investments in detailed market research and sales strategies. In these cases, builders, brokers, and developers collaborate to estimate figures. On the other hand, large projects often require a formal market study before securing financing. Builders can provide insights into the types of developments and their corresponding price ranges.

Typically, land value is estimated to be around 20% of a building's overall appraised value. The project planner's important role involves collecting data from other team members and creating a comprehensive master plan. Architects often contribute to the design phase

of a development.

Landscape architects play a crucial role in projects that involve extensive landscaping. Yet, if the task at hand is to divide rural land into building lots for new houses, it may not be necessary to hire a landscape architect. Like any other expert, it is important to have written agreements in place for the services provided and the payment offered. Civil engineers are often involved in development projects.

Civil engineers often collaborate with other experts to address geotechnical conditions and infrastructure requirements in various development projects. These experts can include surveyors, who play a crucial role in ensuring the practicality of each development deal. The specific tasks performed by surveyors can vary widely, ranging from simple boundary surveys to elevation surveys depending on the nature of the development.

Typically, surveyors are present on a project multiple times until their work is finished.

Introduction to Development Appraisal

Regarding development appraisal, it relies on several initial surveys and investigations. These include planning policy, planning history, statutory undertakers, and the site itself. When mentioning planning policy in the appraisal, it should refer to any approved development plans, design guides, planning and development controls, density controls, zoning designations, and attitudes towards planning agreements.

Planning history involves investigating past and present planning decisions related to the site and surrounding properties. It is important to be aware of the local politics surrounding planning issues and consider the opinions of the public and third-party objectors before beginning a development project. When discussing with the local planning authority, it is typically necessary to consult with statutory undertakes regarding gas, water, sewerage, surface drainage, electricity, telephones, and transportation infrastructure, including road connections. Additionally, various aspects

should be covered during a site survey, such as ownership, acquisition, boundaries, area, topography, landscape, accessibility, services, pollution, and physical factors that may impact the value of development.