Real estate is a broad term that includes land and any permanent structures
attached to it, such as homes. It also includes any resources that are a part of the
land, such as water or minerals. Real estate is considered to be an asset class and is commonly grouped with stocks, bonds and mutual funds as part of an investment
portfolio.
Individuals who are interested in investing in real estate often do so through a real
estate investor trust (REIT) or a pooled real estate investment vehicle. Those who
are looking to purchase a home or commercial property usually work with real estate
agents, brokers or developers.
For millions of people, their homes are their most valuable assets and are the largest financial commitment they will make in their lifetimes. As such, the real estate market is a leading indicator of an economy’s health and is a major driver of
employment in home improvement, development, lending, insurance, brokerage and
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Generally, there are three types of real estate: residential, commercial and
industrial. Residential real estate refers to housing for individuals or families and can
include everything from single-family homes to multi-family rental properties like
apartment buildings. It can also include mobile dwellings such as houseboats.
Commercial real estate, or CRE, refers to property used for business or professional
purposes and is designed to generate income. This can be done by leasing space to
other businesses or running a business on the property itself. Commercial real
estate can include everything from strip malls and office buildings to warehouses
and parking lots.
Raw land or undeveloped real estate is an area of land that is either vacant or used
for farming. It is typically less expensive than developed land and can be used for a
variety of purposes, including building homes or offices. Developers can sometimes
buy raw land and combine it with other property for development.
The construction and development phase of real estate is where the industry really
gets its feet wet. This is when architects, engineers and builders come together to
create new real estate projects. Everything from new homes to shopping centers
and apartment towers can be created during this phase.
Once the construction is complete, it’s time for the real estate agent or broker to
facilitate the sale. These professionals are often licensed by their state boards to
represent buyers and sellers in real estate transactions. They can help with
negotiating prices, conducting inspections and performing the closing paperwork.
Throughout the process, they are typically required to stay current on market trends
and legalities related to real estate. They will also conduct a final walkthrough of the
property to ensure that there haven’t been any changes made that violate the
purchase agreement.
