What do you do if your Real Estate Development team lacks the necessary skills and qualities for success?

Start by aligning team members' skill assessments with your company's strategic needs. This ensures the identification of skill gaps is directly tied to achieving organizational goals. Assess the company's objectives, market positioning and future directions to pinpoint essential skills. Then, evaluate team members' competencies in the key areas focusing on alignment with the company's needs. This approach guarantees that skill development efforts are strategically aimed at propelling the company forward. Regularly revising this process in response to market and organizational changes ensures your team remains agile and aligned with the company's vision.

If your Real Estate Development team lacks essential skills and qualities, consider implementing training programs to upskill existing members. Additionally, recruit new team members with the required expertise and experience. Foster a culture of continuous learning and collaboration to encourage knowledge sharing and skill development. Outsourcing certain tasks to specialized professionals or partnering with external firms can also fill skill gaps effectively. Regularly evaluate team performance and provide constructive feedback to drive improvement.

Durante a esteira da incorpora??o temos especialistas para cada fase. N?o basta somente forma??o, é necessário lastro, acervo técnico. Avalie no seu time o que eles fazem melhor a mais tempo, ou, o que é necessário que eles saibam primeiro para terem resultados a curto prazo.

The ideal is to hire externally for the skills and qualities required on the development team however, this isn't always feasible. The next best option is to hire for qualities and combine those team members with a training culture in your organization. This means your organization is measuring, incentiving and providing appropriate training for the skills required on your development team. This is a large undertaking due to the variety of skills required to develop real estate. The skills include design, entitlements, legal, finance, insurance, economics and more. These skills can be developed through higher education, trade organization certifications, continuing education and online training courses.

Establish partnerships or exchange programs with companies and professionals from industries related to or distinct from real estate, such as technology startups, environmental organizations or financial services. These cross-industry experiences can introduce new perspectives, skills and innovative practices that can be adapted to real estate development.

Ainda na linha do acervo técnico, é importante entender o que mais te falta e avaliar se é melhor ter equipe própria ou contratar terceiros que com acervo e lastro na cidade/mercado em que pretende atuar. Algumas cidades/estados tem particularidades de mercado e de aprova??o de projetos que s?o bem específicos. é importante conhecer, n?o somente os ritos de aprova??o, por exemplo, mas a interpreta??o técnica, se é que isso existe, do técnico do poder publico local. O mesmo com o mercado... Algumas cidades performam melhor com imobiliárias, outras com house própria.

Hire and Fire fast - It may not sound very sympathetic, but it may be better to hire external consultants to handle certain tasks instead of bringing them in-house. There are so many mission-critical components in real estate development that could tank the project, and there is no room for failure. For example, town planning, DA Manager, Engineering, etc.

We work with many companies who love the fact that our product can do a lot of the low value but high priority work for them. It means their professional teams spend more time working on high value tasks which is more interesting for the individuals and more beneficial for the businesses.

As a real estate developer you can build a team that has different skills. Example: zoning, construction, architecture, finance, community connections, and project management skills. If everyone on your team is strong in different areas that you will have all the skills you need in one place to tap into. You will also have the ability for employees to learn and grow together. Promoting interaction, teamwork, and generosity within the group dynamics creates an environment of caring shared collaboration.

Real Estate is an ever-changing landscape. If you are starting off, you might not have the resources to hire experts or outsource tasks. You might have to learn these skills yourself. But as you grow, hire and outsource the parts of development that you don't like or that you consider your weaknesses and lean into your strengths. This way, you get to focus your time on things that bring you joy or that create the highest value for your time.