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In common law, the terms real estate and real property are mainly used and on the other hand under civil law jurisdictions, the term immovable property is used.With the growth of ownership of private properties, real estate is an important segment of business nowadays. For buying real estate, a substantial amount of investment is required and every piece of land has its own characteristics.
As a result, the real estate business has developed into various discrete segments, such as residential real estate, commercial real estate, and industrial real estate etc.
Most of the times, specialists are consulted for valuation of real estate and for ease of transactions.
Usually, the real estate business includes the following:
Appraisal: Professional valuation services
Brokerages: Providing assistances to the seller and buyers in transactions
Development: Improvement of land for usage through annexing or replacement of buildings
Property Management: Management of a property for the owners
Real Estate Marketing: Supervising the sales aspect of real estate business
Relocation Services: Moving business or people to another country
A real estate broker is a person who functions as a mediator between real estate buyers and real estate sellers. Real estate brokers function through the real estate agents who function as their salespersons. For rendering their brokerage services, they receive commissions.
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