Real estate is generally stated as a real property which constitutes the land and its improvement including fixtures, buildings, roads, utility systems and structures. This real estate is one of the leading industries all around the world. This real estate can be classified into four major types such as,
These are the four general and important types found under real estate and let us see in detail:
- 1 Land
- 2 Commercial
- 3 Residential
- 4 Industrial
- 5 Real estate – examples
- 6 Entry Level Real Estate Jobs
- 7 Development
- 8 Sales and Marketing
- 9 Brokerage
- 10 Property Management
- 11 Lending Real Estate
- 12 Other Professionals in Real Estate
- 13 Other Types of Real Estate Careers Available
- 14 Salary Obtained in Real Estate
- 15 How to Get Started in Real Estate
- 16 Analyze
- 17 Learn All the Concepts Deeply
This land is considered as the baseline of all the different types of real estate properties. A land is typically referred to the undeveloped are or property and the vacant area too. Developers who are associated with real estate business will acquire an empty land and they will combine it with other properties simply called as assembly. Then they will try to rezone it which will help them to increase the value and the density of the property.
These commercial properties refer to the buildings and the land which are used by any type of businesses to carry any operations.
- Shopping mall
- Individual stores
- Office buildings
- Parking lots
- Medical centers
This is the other type of the real estate business and this residential real estate generally contains housing for the families, individuals and for group of people. This is said to be the common type of real estate and this is also categorized as the asset class by the common people and all people may be familiar with this kind. Even there is sub – classifications within this real estate business and they are,
- Single – family homes
- Town houses
- Other living arrangements
The other important kind of real estate business is considered to be this industrial real estate and it generally refers to the lands and the buildings which are basically used for the industrial activities like,
- Mechanical productions
- Research and development
Hence the above statements clearly denote the different and important types of real estate.
Real estate – examples
Here are certain specific examples which make our topic real estate still more familiar.
- When a home is designed for only one family then it is said to be single family dwelling
- When group of homes are designed for more families to live is said as multi family dwelling
- A unit or a building is connected to another then it is called as attached form
- An individual unit is build inside a multi unit building then it is called as apartment.
- When a building is build with individual units and owned by individual people then it is called condominium
- When a building is standing free and not been connected to any other things is called detached house
- There are also houses which can be moved and are portable are called portable house
- When there is building with single room then it is called villa
- When a building is constructed with bamboo, clay and mud it is called hut
These are the common examples which come under real estate business and a person indulging in a real estate business must clearly understand these terms in detail so that he can apply it for his business dealings.
Entry Level Real Estate Jobs
We have clearly discussed all the aspects about a real estate business in the above paragraphs. Now we shall make notes on important topics which may be helpful for new and upcoming business people. We are now going to discuss about entry level real estate jobs at first. Those who have plans to place their foot in real estate business can now read these notes so as to increase the carrier opportunity easily.
When an individual wants to enter into real estate business he must pick out any one of the following areas which is also considered as the entry level jobs in a real estate business and let us see what are those important areas
A new person planning to enter into real estate field must compulsorily understand about the role of a developer in a real estate business. A developer is the person who earns profit by adding additional value to the property or a land and he takes the entire risk involved in financing a project. Here a developer can earn handsome money even if the risk factors are high. So a new person who have plans to enter into real estate business can learn about this developer role which is also considered as an excellent entry level job altogether.
Sales and Marketing
The next interesting entry level job which a real estate business seeker can approach is this sales and marketing. There are individual firms too which work specially for selling and marketing a land or a property. A person can approach such firms to seek for real estate job and also a person can himself start an individual firm which will make his career bright.
The next important and interesting entry level job which all can take through in a real estate business is this brokerage work. Mostly individual people can act as a broker to sell and buy firm. He can earn commissions through such projects and also there are firms which are doing this brokerage work independently. So, it will be useful to gain knowledge about this brokerage system by join a firm.
Renting out the units in a particular building is a work done by many firm and it is called as property management. Through this managing process a firm or an individual can earn constant and fixed commission. Here few important jobs are done such as,
- Rent collection
- Showing the units
- Fixing exacts deficiencies
- Repair performing
- Tenant management
These are the important jobs carried out here and so a person who is willing to learn about real estate job can take anyone of these roles by joining a firm. Through this he can earn more money easily.
Lending Real Estate
Real estate lending is very common in real estate business and the lenders here play a major role. These lenders can also include credit unions, banks, private lenders and other governmental institutions. A person willing to take this role must get prior experience at first as it is somewhat complex than the other roles.
Other Professionals in Real Estate
Apart from the above said important roles there are many other professional roles involved with this real estate business and they are,
- Interior designers
- General contractors
- Construction workers
- Trading people
A person willing to enter into real estate business can choose anyone of these roles and he can gain enough experience regarding the real estate business and further he can brightly shine in the field.
Other Types of Real Estate Careers Available
There are wide opportunities found in a real estate business and we have discussed about many of such opportunities in the above paragraphs. Now we shall discuss about certain other types of real estate business in common.
An analyst in the real estate job will perform all the analyzing works related to finance and he will also try to make valuation of the properties.
Real estate businesses also have appraisers who try to make values upon the required property and he place report regarding his valuation based upon the property.
In real estate business this agent plays a very important role and he can also be called as the realtor. He approaches the people who seek for buying or selling lands and he refers various opportunities through which he can attain commissions.
The next important job through which real estate business runs successfully will be this business inspector job. It is the job where the buildings are examined and a result is produced which determines whether to buy the property or not. This inspector also sometimes works with the appraisers at certain situations to give exact result.
He is the broker or the agent in the real estate business who sell commercial properties all around him.
He this inspector inspects particularly the home and he concentrates on selling the homes or houses.
This job may be new for many but it is more interesting and valuable job too. Here in this job this loan underwriter analyzes the borrower’s credit worthiness.
The next important job in this real estate business is mortgage specialist. Here this specialist tries to approve the applications of the mortgages and he earns money through that.
Attorney of real estate:
This is the job which a lawyer can do and a lawyer who is specialized in the transactions of the real estate is called as a real estate attorney.
These are the various 9 important jobs which altogether work for this real estate business and a person must try to understand all these jobs. Finally a good selection can be made by choosing anyone of these different kinds of jobs in real estate business.
Salary Obtained in Real Estate
We have discussed more and more about real estate job and its types and now we shall come to an important topic which everyone seeks and in is about the real estate salary. Salary obtained in real estate business is not fixed or constant. It varies based upon the work done and the salary can be obtained as a bonus or a commission. But when a person is working in a real estate firm he can earn fixed or monthly salary. However earning individual will be more beneficial than working in a firm. It is because a person who acts as a broker, an agent or other such roles, he can earn more.
While selling a huge budget property it is sure he can earn more but when he sells low budget property he can earn less. So, it is fully based upon the work done and the nature of the property sold. But to gain more experience a person can join a firm running a real estate business and then accordingly he can earn more by starting an individual firm. Thus a person must not think about the salary at the first stage and anyhow he is going to earn more if he works hard and if he learns all the concepts deeply.
How to Get Started in Real Estate
Now coming to the point, we have learned all the aspects of real estate and now we can start doing it. Before that people can read the below said instructions to start the business efficiently.
At first try to analyze yourself that whether you are capable of facing all the issues regarding a real estate business. Then understand the current situation about the business in your surrounding and after that make decision how to start a business or to enter into the real estate environment. Analyze yourself whether you are capable of starting an own real estate business or else join a firm gain knowledge and then start an individual business.
Learn All the Concepts Deeply
As we have spoken a lot about the various branches and types of the real estate business try to learn all those concepts deeply. Gain knowledge from experienced people and then make notes of it. Move around your place and look upon the growth of a real estate business people and finally come to a decision of entering into the real estate business.
However, entering into the real estate business is really a very good idea and there are numerous scopes offered under a real estate business. So, be serious in the job then create a definite plan. Planning is important because it initiates the way for the growth. So, making clear plans regarding the startup of the business is important. After planning execute it effectively without any flaw and be ready to face all the consequences about to be faced. Finally earn more and shine brightly in the real estate business effectively.