Every career field features a required skill set for fulfillment . This is very true in land , a multi-faceted industry that relies on a mixture of individuals skills and technical knowledge. Not only must you understand the way to build strong relationships and negotiate deals, but you furthermore may need a baseline knowledge of home construction, economic trends and changing property values. 

The members of Forbes land Council have established successful careers within the industry and understand what a true estate investor or developer must do to thrive. Below, they share nine critical skills other up-and-coming professionals within the industry should hone to advance their careers.

1. Storytelling

One of the most critical skills for a developer is to have a unique unit/concept with some form of storytelling. It can be through truly unique features, such as a “starchitect" or a building associated with a famous luxury brand name. Good developers know properties need quality finishes, not just fancy appliances or “state of the art “amenities that look nice on a brochure. Such details can be a smart and logical layout, quality doors or A/C vents, faucets and thermostats that don’t look purchased straight from Home Depot. Many of the small details are not necessarily expensive but make a true difference that gives the feeling of a complete home. - Adam Redolfi, Barnes International Realty

2. Engineering

Engineering knowledge is important. Understand density rules and regulations or have experts available . Pro-forma and financial projections are necessary so a developer can balance budgets and have the foresight to plan and execute and mitigate cost overruns. - Ben Bacal, Rila Inc.

3. Structuring A Deal

Especially for a new investor, structuring a deal whereby they are not using a bank or their own cash (other than $100 deposit) or signing personally on any loans is the best route. This leaves structuring options of lease purchase or owner financing. - Chris Prefontaine, Smart Real Estate Coach

4. Organization

Being organized may be a critical skill to be a successful land investor. Real estate is a great way to make a high return on your money, but it requires you to actively manage your properties. So if the person is not interested in actively being involved in their investment, I would recommend against them becoming real estate investors. Many people do not realize this is an active investment and it will take time to really pay off. These are the two main factors that lead investors to grow frustrated and “tap out,” saying this is not for them. If they come into the opportunity fully understanding these two things, they will be much more successful in the long run. - Oliver Seidler, PropertyForce

5. Team-Building

To achieve success in land , you want to have the talents to create an honest team. There are too many tasks to try to to well by yourself. From property managers, brokers, architects, engineers, contractors and a myriad of other professionals, you must be able to vet and motivate your team to perform at the highest level. - Jason Hsiao, Shaw Investments

6. The Ability To Pass On A Deal

Most new investors want to try to to a project so eagerly that they involve themselves with margin investments and find yourself working for “free.” Take some time , don’t “under analyze,” and wait for that perfect opportunity that has enough margin for you to form money, albeit there are time delays, unforeseen repairs or other unknowns. If you are new, always increase your budget estimate by 30%, double your needed allocated time to do the project, and double your projected time to sell the home. If the deal doesn't pencil with these extra dollar and time allocations, then pass. - Anton Danilovich, TopHap, Inc.

7. Identifying Their Preferred Approach To Investing

Understanding their approach to investing. There are several ways to invest in real estate. Which lane are you comfortable in? What are your goals? - Bobby Bryant, Ask DOSS

Read more in Four Ways To Prepare Yourself For Real Estate Investing Success In 2020

8. Prudence

Every great investor must realize we are all full of our own biases. Therefore, we must instill appropriate processes to question all of our own assumptions before moving forward into any investment. Your protocols must not only measure the required external economics, but they need to also account for the interior factors we all have. The prudence of a successful investor must happen before “game time.” Prudence is premeditated, calculated and stewarded before you ever tread on the sector . With this practice in situ , you'll always move with speed and excellence at game time, which is additionally an absolute necessity. - Zach Morrow, Boron Capital

9. Patience

Have the patience to permit adequate time for due diligence, ensuring neither yourself nor your clients will jump the gun. Materialize all information required prior to making a decision, assuming time is not the biggest factor. As Elon Musk said, “Patience could also be a virtue, and I’m learning patience. It’s a tough lesson.