Many people who want to own a property in Turkiye for the purpose of residency or obtaining Turkish citizenship are unable to distinguish between a real estate development company and a real estate brokerage company or real estate broker.
For this reason, it is necessary to clarify in this article the difference between the two real estate terms and the role of each of them.
Real estate development company
It is a company whose mission is to develop a specific area or site, or to re-establish and establish an existing entity, and to carry out partial or complete updates and repairs to benefit from it and increase its investment value.
Also, the real estate development company is not a real estate contracting or consulting company, as some believe. Rather, it is a “development manager” that provides the best idea for the project, through detailed feasibility studies, financing sources, selecting the best consultant and the most suitable contractor, and developing the project’s marketing plan and selling strategy.
It is noted that the real estate development company invests time between searching for suitable places for development and dealing with financial institutions, construction offices and contractors.
One of the tasks of the real estate development company is to purchase vacant lands and then establish projects or residential complexes on them, build real estate there, and transform the drawings and ideas on paper into real estate and cities on the ground.
The real estate development company is of great importance to investors and businessmen, as it is described as "transforming the desert into global cities."
One of the tasks of the real estate development company is also to come up with successful real estate units that suit the needs of the community and benefit the developer.
Successful real estate development is linked to effective risk management before, during and after the development of the real estate project.
In order to ensure success in real estate development, a number of main rules must be followed, the most important of which is a good understanding of all aspects of the feasibility study of the real estate development project, ensuring the project’s design, and managing the project after the sale.
Another basic rule that real estate development companies rely on for their continued success is studying the project idea and preparing ideas related to implementing the project, all the way to the stage of crystallizing the idea, determining the location, conducting financial studies, and initial designs through specialized offices.
Real estate development companies are keen to prepare market studies, financial feasibility, and designs that qualify for obtaining the necessary licenses for the project, until the final design stage is reached and the negotiation of construction contracts begins and the approved contractor is determined to contract with him.
Next comes the stage of signing contracts for the project. From construction, financing, supply, marketing, etc., until the final stage, which is the opening of the project, its media campaign, and contracting with project management and marketing companies.
Omran Trk Real Estate Development Company
Omran Trk Company, based in the Turkish city of Yalova, is considered one of the real estate development companies that is concerned with the main and basic rules of real estate development, as it works to establish real estate projects after choosing the strategic location and building distinctive residential units, in addition to marketing the real estate project up to the sales stage and handing over bonds. Property “Tabu”.
Omran Trk works to guide investors of various nationalities to places witnessing real estate growth and prosperity in the internal demand for the real estate market in Turkey, especially in the Turkish city of Yalova. It is also keen to find suitable land opportunities for the projects that investors are thinking of establishing their projects on, in addition to undertaking... Marketing real estate projects through its long experience in this field.
Real estate brokerage company
In contrast to talking about the real estate development company, it is necessary to clarify the difference between it and the real estate brokerage company, which is a company licensed to work on facilitating the buying and selling process between the parties to the real estate process, whether they are individuals, property owners, or real estate development companies, in exchange for a certain commission. Agreed upon, the real estate broker takes it from the party he appointed.
One of the tasks of the real estate broker is to negotiate the sale agreement, manage the documents, and how to finalize the required transactions.
The real estate brokerage profession targets clients looking for real estate only, as the real estate broker forms the link between the owner and the buyer, as the sale or rent transaction is not completed without the presence of these two parties.
The importance of real estate mediation lies in the fact that it aims to facilitate the contractual process between the parties and stimulate the real estate market, in addition to contributing to price stability if real estate evaluation experts are used.
Hence, the concept of real estate brokerage and real estate development may be mixed among many people, depending on the fundamental idea from which the two concepts stem, as the common goal between the two professions falls into one mould, which is the promotion or sale of real estate products.
But by delving deeper into the concept and objectives of the two terms, and according to the principles upon which each of them is based, the difference between them becomes clear to us, as real estate brokerage focuses on working with two main parties, and it does not exist in the absence of any of these parties (the property owner and the property searcher). ), in contrast to the real estate development company that establishes, markets and sells the real estate project, and the “Omran Trk” company in “Yalova” in Turkey is a clear example of real estate development companies in Turkiye.