Real Estate is basically a immovable property comprising of land, buildings and other things attached permanently to them. It is also known as Realty or Real Property. Anything that is not affixed with land and buildings (like furnitures) are called .
In Latin, the word “real” means matter or thing.
In USA, Real Estate Business is one of the major economic activities. There are mainly two types of Real Estates :-
Home or Residential Real Estate
When a land or building is put to sale or rental to families or individuals, then it is known as Residential Real Estate Business.
Commercial Real Estate
Industries involved in the business of commercial (ie. Non-residential) component of real estate are known as Commercial real Estate. It includes building up of offices, retail space, industrial premises, hotels, malls etc.
Real Estate Business is one of the major business activities in the developed countries. Real Estate business in the developed countries accounted for $62 trillion at the end of 2002 among which residential real estate's contribution is $48 trillion and that of commercial is $14 trillion. According to the census of USA in the year 2000 the number of housing units occupied were 105million.
Real Estate Business is a booming industry in both developed and developing countries. Now-a-days it is an area with high investment opportunities.
Real Estate Business has also its highs and lows. It also has a cycle with booms and recessions. So a investment in real estate business always demands proper and thorough research.
Investing in real estate business has two additional forms :-
(a) Foreclosure Investment
To buy property from such a owner who is passing through a period of financial doldrums. This helps the buyer to make a deal which is cheap.
(b) No money down real estate investment
It is a special service given by many real estate agencies where people can make real estate investment without any verifications of credits and employment.
Real Estate business can be a profitable one if the following rules are followed :-
Comparison of investments
Optimization of the structure of the deal
Minimization of risk
Maximization of return
Real Estate Business has grown through the years in almost all developed and developing countries along with the expansion of the development process.
Real Estate Business includes :-
Home Real Estate Business
Real Estate Business Plan
Investing Real Estate Business
Commercial Real Estate Business
Small Real Estate Business
Investing Real Estate Business
Business and Real Estate
Real Estate Business Marketing
Real Estate Business Development
Real Estate Business Brokers
Please go through the links for acquiring more knowledge on Real Estate Business.
Real estate business is a form of investment as capital gains can be realized from its resale. Unlike other investments, real estate is dramatically affected by the condition of the surrounding area where the property is located. The position of the agent or broker facilitating the deal between the buyer and the seller is a fiduciary capacity and acts in the best interest if the client who can confide in him about his personal information. In a fiduciary capacity, it is the duty of the agent or broker to protect the clients' information, unless otherwise required by a court of law. Brokers have the primary responsibility of getting the assessors or appraisers and surveyors to obtain the proper value of the property or real estate and the mortgage broker finally gets the two parties of the buyers and sellers to ink the deal.
The persons engaged with the ownership and use transfers of the real or physical property can be summarized as :-
- Accountants
- Appraisers
- Mortgage brokers
- Counselors
- Brokers
- Surveyors
- Title companies