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ArticlesReal Estate | | Date Added: 2012-01-07 00:06:50 | Real estate is a term that is generally used to identify immovable property like land with a house or building on it. The term also includes all and any natural resources within the defined boundaries of the property.
In a business sense, real estate is a term used to define the act of buying, selling, or leasing houses, buildings or lands. Today, real estate is a booming business in several parts of the world. One of the reasons for this is the idea of private ownership of house, buildings and farms.
Change in lifestyles and mindset of people is another reason that has helped real estate grow as an industry. Earlier, people used to buy a house or building purely for accommodation purposes. But today, with increasing population and diminishing space, more people are looking at real estate as a viable investment option. Owning a house, a commercial building or even piece of land is considered to provide financial security to the person in the present scenario.
Large real estate companies and builders take up development projects, to construct a building or a house on the customer's land. A real estate agent or broker is an individual or a company that helps their customers in buying, selling or renting their property. The agent acts as a mediator between the seller and the buyer and is paid a commission when the deal is settled.
Real estate businesses usually deal with sale and purchase of commercial as well and residential properties, while some specialize in offering a particular type of service. Other services offered by real estate companies include appraisal of the property and property management. |
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