Manage a real estate development
A development is a layer above your projects: it groups several projects by phase and role, adds the land cost to the budget of those projects, and gives you the consolidated cost of the subdivision. On top of that you track the sale of your units or lots — from available to reserved, sold and deeded — with absorption and margin against that cost, all on one dashboard.
- Packages and Contracts consolidate every project: the same item added up, and how much you have committed with each contractor.
- A development groups several projects by phase and role; its consolidated cost is derived from those projects' budgets + the land cost.
- Projected cost = land + spent + committed; it tells you where the development's money is going.
- Each unit or lot lives in a status: available → reserved → sold → deeded.
- Absorption is units placed (reserved + sold + deeded) divided by total inventory.
- The development's margin is the sales value of the units minus the consolidated cost.
- 1
Create the development
In Developments, tap "New development". Give it a name and, when you edit it, enter the land cost; that amount is added to the subdivision's consolidated cost.
- 2
Link your projects (by phase and role)
From the development, link your existing projects, specifying their phase and their role (site development, housing, amenity). The consolidated cost builds itself from the budget, the spent amount and the committed amount of each linked project, plus the land.
- 3
Load the inventory of units or lots
On the "Units and sales" tab, add the prototypes that repeat (for example, Model A Home ×50) and the individual units are created with their identifier, area, cost and list price.
- 4
Move the status as you sell
Update each unit from available to reserved, sold and finally deeded, with its client, sale price and date. Once it leaves available, its revenue counts toward contracted revenue; at closing, it counts toward deeded revenue (money that is locked in).
- 5
Read absorption and margin
The dashboard shows absorption (placed ÷ total) with a bar by status, the sales value, the deeded revenue and the margin: sales value − consolidated cost. That way you see at a glance how much has been placed and how much the development leaves you.
- 6
Review the packages for the entire development
The Packages tab adds up the same item — masonry, structure, finishes — across all linked projects. Each row carries the spread between the most expensive project and the cheapest one: if it goes over 15% it flags it for you. That is where you negotiate once for the whole subdivision instead of project by project, and where you catch that one block is being built more expensively than the rest.
- 7
Look at your exposure by contractor
The Contracts tab groups by who is building, not by project. You see how much you have committed to each contractor across the whole development and on how many projects they work. Below the total you see what percentage of the construction budget is already under contract: what is left is what still has no owner and no locked-in price.
Frequently asked questions
Why is a contractor working on several projects highlighted?
Because it cuts both ways. Concentrating volume with one contractor gives you leverage to negotiate a better price, but it also concentrates risk: if that contractor fails, it is not one project that stops, it is every project they are on. Seeing it before you sign the next contract is exactly the point.
Can I edit the packages or the contracts from the development?
No, and that is on purpose. These two tabs are consolidated read-only views: creating and editing live in each project, which is where they have context. Here you see the whole picture to make purchasing and contracting decisions, not to enter data.
Where does the development's consolidated cost come from?
It is derived from the linked projects: it adds up their budget (the spent amount and the committed amount) and adds the land cost you entered in the development. You do not type it separately; it is recalculated from the projects.
What does each unit status mean?
Available: still for sale. Reserved: held by a client. Sold: with a signed purchase agreement. Deeded: closed, the revenue is now money that is locked in. Absorption counts reserved, sold and deeded as placed.
How is the margin calculated?
It is the sales value of the units (sale price, or the list price if it has not sold yet) minus the development's consolidated cost (land + projects). Since both sides live in Matterial, it shows up live as you go.
What if I only do the site development for a developer?
You can run that project like any other and, if the developer uses Matterial, link it to their development with the site development role. You are not required to handle sales if your role is only to build.