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Real estate is a legal term that encompasses land
along with improvements to the land, such as buildings,
fences, wells and other site improvements that are fixed
in location.
REAL ESTATE MARKET
With the development of private property ownership, real
estate has become a major area of business, commonly
referred to as commercial real estate. Purchasing real
estate requires a significant investment, and each
parcel of land has unique characteristics, so the real
estate industry has evolved into several distinct
fields. Specialists are often called on to valuate real
estate and facilitate transactions. Some kinds of real
estate businesses include:
- Appraisal: Professional valuation services.
- Brokerages: A mediator who charges a fee to
facilitate a real estate transaction between the two
parties.
- Development: Improving land for use by adding or
replacing buildings.
- Financing.
- Net leasing.
- Property management: Managing a property for its
owner(s).
- Real estate marketing: Managing the sales side
of the property business.
- Real estate investing: Managing the investment
of real estate.
- Relocation services: Relocating people or
business to a different country.
- Corporate Real Estate: Managing the real estate
held by a corporation to support its core
business-unlike managing the real estate held by an
investor to generate income.
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