WHAT DOES A DEVELOPMENT ASSOCIATE DO?

Published: Oct 17, 2024 - The Development Associate undertakes market research, project feasibility, and entitlement analysis to underwrite new projects. This position manages financial models, the project diligence process, and the preparation of capital market materials, while also reviewing legal contracts. This role involves significant interaction with local market brokers, stakeholders, and development partners to advance projects through approval stages and ensure timely completion.

A Review of Professional Skills and Functions for Development Associate

1. Development Associate Duties

  • Event Participation: Participation in conferences and other business development events.
  • Research & Organization: Research and organization of suitable business development activities.
  • Customer Communication: Communicating with existing and potential customers.
  • Meeting Coordination: Contacting the existing customer base to schedule regular face-to-face/telephone meetings for CRM purposes.
  • Client Engagement: Contacting existing and potential customers for face-to-face meetings to present services.
  • Client Identification: Identifying potential clients and partners.
  • Marketing Material Preparation: Preparation of marketing and exhibition materials.
  • Case Study Drafting: Drafting project-specific case studies.
  • Digital Marketing Participation: Participation in digital marketing activities.
  • Registration Management: Making registrations for attendance and exhibition.
  • Industry Review: Regular reviews of industry portals and marketing/sales channels.
  • Contract Negotiation: Contract review and negotiation activities.
  • Lead Follow-Up: Follow up with existing sales leads.

2. Development Associate Details

  • Project Underwriting: Underwriting new projects, including market research, project feasibility, and entitlement analysis.
  • Financial Modeling: Overseeing the development of financial models and the preparation of project feasibility.
  • Due Diligence Management: Managing the project diligence process, including engaging third-party due diligence consultants.
  • Offering Memorandum Preparation: Assisting in the preparation of offering memorandums and capital market materials.
  • Contract Review: Reviewing and summarizing legal contracts related to the architect, contractor, and design consultant team.
  • Design Assistance: Assisting in the design and programming of multifamily development projects.
  • Financial Analysis: Conducting financial analysis of development opportunities.
  • Market Data Analysis: Gathering, compiling, investigating, and analyzing market data to identify potential development opportunities.
  • Relationship Management: Establishing and maintaining productive relationships with local market brokers, institutional and equity partners, lenders, real estate owners, and other key stakeholders, while managing ongoing communications related to proposed development transactions.
  • Acquisition Identification: Identifying, investigating, and referring potential acquisitions and other real estate transactions to appropriate Hanover Development Partners, and assisting in preparing financial, market, and other documents required for new business pitches and RFPs.
  • Due Diligence Participation: Participating in the due diligence process on properties under contract and developing documentation and recommendations on key findings that may affect the return and financial performance of the proposed deal.
  • Entitlement Coordination: Working with Development Partners, the design consultant team, and the Hanover construction team on entitlement tasks to advance the project through the approval stage.
  • Transaction Monitoring: Monitoring and reporting on the status and progress of proposed development transactions within the assigned geographic region and establishing critical timelines and deadlines for tasks and activities related to the proposed transaction.
  • Reporting and Analysis: Completing various financial, administrative, and other reports and analyses.

3. Development Associate Responsibilities

  • Training Participation: Actively and proactively participate in the two-year training program.
  • Client Engagement: Work closely with Senior Wealth Advisors by attending client meetings alongside Wealth Advisors to learn the industry from the inside out.
  • Client Prospecting: Research and prospect potential clients.
  • Outbound Calling: Conduct outbound calls to both existing and prospective clients.
  • Skill Development: Take part in twice-daily training sessions with the Manager, Technical Training Team, and Institutional training teams to continue to be upskilled.
  • Customer Service: Ensure a consistently high level of customer service is always maintained.
  • Pipeline Management: Manage sales and meetings pipelines for both inbound and outbound sales activities.
  • Lead Generation: Discover new sales leads based on industry and account research (LinkedIn, ZoomInfo, internet research, etc.).
  • Outreach Campaigns: Create strategic outreach campaigns (calls, emails, LinkedIn, social selling, etc.).
  • Prospect Qualification: Qualify prospects/accounts through email, phone, LinkedIn, etc.
  • CRM Management: Manage prospects, accounts, and opportunities in HubSpot.
  • Sales Function Support: Support building the sales function from the ground up, working on sales materials, processes, and sales approach.
  • RFP Support: Support sales cycles and responses to client requests for proposals (RFPs).
  • Client Inquiries: Answer potential and current client questions.

4. Development Associate Job Summary

  • Meeting Scheduling: Scheduling phone/video meetings to reach out to prospects.
  • Value Presentation: Presenting the value of the firm's services to prospects.
  • Prospect Follow-Up: Follow up with prospects through HubSpot.
  • Industry Research: Identifying industries and researching potential referral sources to obtain leads.
  • Client Relationship Management: Developing and maintaining client relationships.
  • Referral Data Gathering: Gathering useful information from referral source data.
  • Database Maintenance: Maintaining the database of contact information.
  • Relationship Building: Building long-lasting, mutually beneficial relationships.
  • Program Participation: Participating in client and partner program management and development in support of the sales operations and business development teams.
  • Cold Calling: Conducting cold calls to potential partners and tracking progress in Salesforce.
  • Market Ownership: Helping to own the regional market space to grow Sollis Health's business.
  • Sales Team Engagement: Engaging with the sales team and contributing effectively to proposal design and delivery preparation.
  • Business Development Support: Assisting the sales team with business development opportunities, including pricing, capabilities, and solution development, as well as presentations to internal and external leadership.
  • Client Database Management: Maintaining an updated database of prospective and current client information.

5. Development Associate Accountabilities

  • Strategic Relationship Development: Identifies and helps to develop strategic relationships with partners or potential customers.
  • High-Level Business Conversations: Conducts high-level business conversations with C-suite executives/decision makers.
  • Appointment Setting: Successfully meets and/or exceeds monthly or quarterly appointment-setting goals.
  • Event Attendance Support: Assists with driving attendance at area marketing and sales events.
  • Pipeline Development: Assists in the development of a strong pipeline of new customers.
  • Call Forecasting: Forecasts and provides detailed feedback on each call made.
  • Data Management: Collects, enters, and maintains accurate data in CRM.
  • CRM Utilization: Consistently utilizes “Activities” in CRM.
  • Marketing and Sales Support: Supports company-wide PR, marketing, and sales initiatives.
  • Market Research: Conducts market research to support the development of new business lines, industry verticals, and target markets.
  • Vendor Management: Manages vendors in the daily execution of projects, where applicable, and proposes new vendors where appropriate.
  • Stakeholder Relationship Building: Develops day-to-day working relationships with internal and external stakeholders.
  • Service Development Support: Provides support in the development of new services or solutions by conducting desktop research and assisting with the assembly of market assessments.
  • Team Collaboration: Effectively collaborates with the team to support organizational efforts to acquire, retain, and grow accounts.
Relevant Information
What Does A Development Assistant Do?