Here are few things about
the Real Estate agentsbusinessyou
would perhaps like to know if you are pursuing your career in this
field:
Various Types of Real Estate agents
There are four different
types of real estate agents. Each type of land has a unique purpose. These
are:
- Land: It is a baseline of
all types of real estate agents and is referred to an undeveloped property
or empty land. Land Developers acquire the land and then combine it with
other types of properties. This process is called an assembly. Once the
lands are combined, it is rezoned. This helps in increasing the density
and the value of the property.
- Residential: It includes
housing for singles, families, or different groups of people. It is one of
the most common types of real estate that comes under asset
class. Single-family dwelling, Multi-family dwelling, Attached
Apartment, Multi-family house, Condominium (Condo), Detached
house, Portable house, Mobile home, Villa, Hut, and many more
fall under this category.
- Commercial: It is a
property used by businesses to carry out their commercial operations such
as shopping malls, individual stores, malls, office buildings, parking
lots etc.
- Industrial: These are the
real estate's properties such as construction land, factories, research
and development center, transportation centers, logistics hubs, and
warehousing, etc.
Different process and professionals involved in the real estate
agents business:
- Development: Development
process includes buying land, rezoning land, construction of buildings,
and final sale or lease of the final product.
- Sales and marketing: The
firms involved in sales and marketing create a market for the final
product of developers, and they promote it. These firms earn a commission
on each purchase.
- Brokerage: Brokers are
mediators who help in setting the transaction between the buyers and
sellers of the real estate property. They too earn on a commission
basis.
- Property management firm:
These are the firms that help in the maintenance of properties, and they
do work like collecting rent, showing units, performing repairs, and
managing tenants, etc. They earn based on a monthly fee
usually.
- Real estate lenders:
Lenders play a significant role in the real estate industry. They are the
people who give money on interest to both developers and final buyers, and
they include Government and private banks, and credit unions. They earn on
an interest basis.
- Professional services:
Accountants, lawyers, interior designers, general contractors,
construction workers, etc. are some of the important professional services
that are part of real estate business.
Careers in Real Estate
If you are looking for
career in real estate land business then here are few options that might
interest you:
- Analyst; He does financial
analysis and finds out the valuation of properties.
- Appraiser: He is involved
in valuing properties.
- Agent: He is a sales agent
or “realtor.”
- Building Inspector: He
examines buildings.
- Home Inspector: He finds
the quality of a property.
- Loan Underwriter: He finds
out the creditworthiness of the person applying for a loan.
- Mortgage Specialist: He is
a person who approves loan applications.
Different Types of
Real Estate Agents
- Buyer's Agent: He is the
one who helps you to find the home. He helps in negotiation,
finalizing the deal, and completing the paperwork.
- Seller's (Listing) Agent:
He helps in selling home and gets you the best price.
- Dual Agent: He represents
both the buyer and the seller and works in the equal interest of
both.
- Transaction Coordinator:
He helps in all legal work such as opening the escrow account, paperwork
and signing.
- Commercial Broker: He
sells commercial properties.
- Associate Brokers:
Associate brokers assist leading real estate brokers, but they also have a
broker's license.
