Release Date: March 2024
Course length: 8 hours/ 9 modules
Level: Introductory
Designed for: Developers, owners, investors, land planners, engineers, brokers and construction professionals.
Course Access: Upon enrollment, students have 90 day to complete this course.
New for 2024! This interactive course examines the seven stages of a comprehensive real estate development model. Learn how real estate development progresses from land acquisition to the approvals and zoning process, land development, building construction, operations, renovation and eventual redevelopment. Discuss how each stage of the development process requires specialized skills, involves certain risks, and provides opportunities for developers to build value. Then, see how each stage plays out in real world case studies. Learners will gain a fundamental understanding of the development process that they can apply to real world practices right away. The course also covers some key basic finance skills for developers including determining property value, estimating building costs, and assessing land value. After completing this course, build on what you’ve learned by taking the Advanced Development Practices course.
Course modules:
- Overview of the Development Process
- Land Banking
- Land Packaging
- Land Development
- Building Development
- Building Operations
- Building Renovation
- Property Redevelopment
- Development Finance Skills
After completing the course, students will be able to:
- Explain the definition of real estate development as a value creation process
- Define the seven stages of the real estate development process in terms of
- How value is created
- Key players
- Critical Tasks
- Controllable costs
- Major Risks
- Analyze an example of each stage
- Estimate overall property value and land value using direct capitalization methodology
- Explain the relationship between value, income and capitalization rates
If you would like to purchase an individual course module instead of the full course, visit the individual course page.
Tuition & Register
Payment for a NAIOP on-demand course entitles access for one person only to the course and all materials.
Course Tuition
| Member Type | USD | CAD |
| Member | $389 | $525 |
| Nonmember | $599 | $809 |
| Developing Leader | $280 | $378 |
| University Faculty Member | $149 | $201 |
| Student Member | $149 | $201 |
| Student Nonmember | $199 | $269 |
How to Register
- Register online: Click on the green Register button at the top of the page. You will need to log in or create a free account in order to see the Register button.
- Mail: Send check payments to: NAIOP, CL500060, PO Box 5007, Merrifield, VA 22116-5007
- Register over the phone/questions: 800-666-6780
Note: You have 90 days from the date you register to complete this course.
Confirmation
All registrations processed online receive an automatic order confirmation and receipt. If you register via fax, mail, or phone, a receipt must be requested by contacting education@naiop.org.
Login instructions to access the on-demand course are sent under separate cover from NAIOP Learning. If you do not received the login instructions, please check your spam folder. If the login email is still not there, please contact the NAIOP Education Department.
Cancellation Policy
No refunds will be issued.
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Module 1: Overview of the Development Process
Begin self-paced component package.
Begin self-paced component package.
This module provides an overview of the development process including a discussion of the complex responsibilities and tasks that developers do, the definition of real estate development as a value creation process, and a summary of the seven stages and eight tasks of the Real Estate Development Matrix.
Module 1 Slides: Overview of the Development Process
Open to download resource.
Open to download resource.
Module 2: Land Banking
Begin self-paced component package.
Begin self-paced component package.
This module outlines the first stage of the development process in which land bankers acquire or hold undeveloped land until it becomes attractive for future development. It covers value creation, key players, critical tasks, controllable costs and major risks for this stage, as well as several real-world case studies.
Module 2 Slides: Land Banking
Open to download resource.
Open to download resource.
Module 3: Land Packaging
Begin self-paced component package.
Begin self-paced component package.
This module goes over the second stage of the development process in which land packagers buy or control undeveloped land and then increase its value through conceptual land planning, zoning changes, financing arrangements, or other “paper enhancements.” They also complete tasks such as obtaining title insurance, completing accurate surveys and conducting environmental studies. The module covers value creation, key players, critical tasks, controllable costs and major risks for this stage, as well as several real-world case studies.
Module 3 Slides: Land Packaging
Open to download resource.
Open to download resource.
Module 4: Land Development
Begin self-paced component package.
Begin self-paced component package.
This module outlines the third stage of the development process in which a land developer buys land with approvals and a master plan and then improves its value by constructing horizontal infrastructure such as roads and utilities to create building-ready pad sites or land bays for the vertical construction of buildings. The module goes over value creation, key players, critical tasks, controllable costs, and major risks for this stage as well as several real-world case studies.
Module 4 Slides: Land Development
Open to download resource.
Open to download resource.
Module 5: Building Development
Begin self-paced component package.
Begin self-paced component package.
This module goes over the fourth stage of the development process in which building developers buy a building-ready property from land developers, construct a building, and then sell it to building operators or continue to the building operations stage themselves. It covers value creation, key players, critical tasks, controllable costs and major risks for this stage, as well as several real-world case studies.
Module 5 Slides: Building Development
Open to download resource.
Open to download resource.
Module 6: Building Operations
Begin self-paced component package.
Begin self-paced component package.
This module outlines the fifth stage of the development process in which building operators create value by converting an empty constructed building to a portfolio of leases with satisfied tenants and accurate record keeping. Major increases in value can also occur through financing and refinancing activities, as well as the sale and resale of the property. The module covers value creation, key players, critical tasks, controllable costs and major risks for this stage, as well as several real-world case studies.
Module 6 Slides: Building Operations
Open to download resource.
Open to download resource.
Module 7: Building Renovation
Begin self-paced component package.
Begin self-paced component package.
This module goes over the sixth stage of the development process in which building renovators buy properties which have substantial economic and/or physical depreciation and create value by fixing these deficiencies without changing the use, then repositioning and operating the properties until they are ready for redevelopment. The module covers value creation, key players, critical tasks, controllable costs and major risks for this stage, as well as several real-world case studies.
Module 7 Slides: Building Renovation
Open to download resource.
Open to download resource.
Module 8: Property Redevelopment
Begin self-paced component package.
Begin self-paced component package.
This module outlines the seventh stage of the development process in which property redevelopers buy a property with serious physical or functional deficiencies, analyze the current and future market conditions to determine the best next use of the property, build support and then create an opportunity for land packagers to initiate the stages of the development process all over again.
Module 8 Slides: Property Redevelopment
Open to download resource.
Open to download resource.
Module 9: Development Finance Skills
Begin self-paced component package.
Begin self-paced component package.
The module covers several key basic finance skills for developers including determining property value, estimating building costs, and assessing land value.
Module 9 Slides: Development Finance Skills
Open to download resource.
Open to download resource.
EDP Exam - Required for Certificate Candidates
30 Questions | 5 attempts | 24/30 points to pass
30 Questions | 5 attempts | 24/30 points to pass
Essentials of the Development Process Skipping the Exam Acknowledgement
Agree to terms to continue.
Agree to terms to continue.
If you are not planning on taking the test, please click the Read Terms button. Then you will be able to complete the Evaluation and print your transcript.
Essentials of the Development Process Evaluation
7 Questions
7 Questions
Please fill out this evaluation in order to get credit for the course.
Essentials of the Development Process Certificate
8.00 CEUs credits | Certificate available
8.00 CEUs credits | Certificate available
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