Real Estate

Brief Overview on Real Estate Agents: Business

2:59 AM Lokesh kumar 0 Comments

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.