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What is real estate?

What is real estate?

You must have overheard agents attempting to sell homes, condos, vacant land, etc. Real estate includes all of the aforementioned. The real estate industry is quite large and expanding rapidly. By 2030, financial analysts in India predict that the real estate market would be worth $1 trillion.

What are the major areas in real estate industry?

Real estate industry have 6 major areas. They are development, sales and marketing, brokerage, property management, real estate lending and professional services.

DEVELOPMENT - Real estate development includes purchasing barren land, rezoning, construction,etc. Mostly developers add value to the land. 

SALES AND MARKETING -Sales and marketing firm involves selling the buildings they created and earns a good amount of profit from it.

BROKERAGE -Brokerage firm employs brokers who will help in transaction between seller and buyer of property.

PROPERTY MANAGEMENT -Property management team helps the owner to rent out the units in their apartment. They collect rent, and check upon the maintenance of the property.

REAL ESTATE LENDERS-  Lenders are those who help in financing the property. They include banks, private lender or government institutions.

PROFESSIONAL SERVICES - There are various professionals other than lenders or brokers who are involved in this industry. They can be advocates, contractor, labourers etc.

Examples of real estate - 1 bhk building , 2 bhk building , flats, apartments, portable house, villas, Hut etc.

CAREERS IN REAL ESTATE -

1) Real estate attorney - advocates in real estate .

2)Loan underwriter - analyses the creditworthiness of borrower.

3)Home inspector- inspects the quality of property.

4) commercial brokers - creates link between buyer and seller.

5) agent -sales agent.

TYPES OF REAL ESTATE -

1) Land- Vacant barren land is first base of any real estate property.  Developers rezone the area and increase it's value and sell it.

2) Residential - It includes buildings, apartments, villas etc . Developers construct the buildings over the land and sell it.

3) Commercial- Many companies use the property for their purpose.

4) Industry - Industries use to make factories are included in real estate.







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