Real estate is composed of land, as well as the immovable fixtures that are attached to that land. Real estate also encompasses any improvements that are made to that land that are also immovable and fixed to the land. Due to the sophisticated nature of real estate, and the rise in private ownership of land, there have developed a myriad of specialties in the field of real estate. Each specialty area in the field of real estate covers a very important aspect of the field, and is necessary for the facilitation of day-to-day business transactions.
An appraisal is an and activity that seeks to obtain the value of real real estate, and is a crucial first step in any real estate business activity. An accurate estimation of a property’s estimated value is needed when determining the selling price of a given property. Real estate brokers play a very important role in the efficient and effective development of real estate transactions between parties. Professional real estate brokers are highly trained in real estate law, and other areas that are crucial to the effective and efficient facilitation of a real estate transaction.
Real estate developers improve the quality of land through the addition of structures. Property managers are very important to property owners, due to the fact that they handle of the collection of rent, maintenance duties, and other needed areas for property owners. Real estate property managers relieve property owners of much of the stress involved with efficient property management activities.