Corporate hours is on Real estate market

Definition: Real estate is the property, land, buildings, air rights above the land and underground rights below the land. Real estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all security and about the only indestructible security.

4 Types of Real Estate

There are four types of real estate:

1. Residential includes both new construction and resale homes. The most common category is single-family homes.

2. Commercial Real Estate includes shopping centres and strip malls, hotels and offices including medical and educational buildings. Apartment buildings are often considered commercial, even though they are used for residences. That's because they are owned to produce income.

3. Industrial includes manufacturing buildings and property, as well as warehouses. The buildings can be used for research, production, storage and distribution of goods.

4. Land includes vacant land, working farms, and ranches. The subcategories within vacant land include undeveloped, early development or reuse, subdivision and site assembly.

Thinking of buying or selling a home? Between 70% and 80% of homeowners use a real estate agent or broker when buying or selling a home…

Broker Fees

The standard commission is 6%. This is usually split between the sales agent (listing agent) and buyer agent.

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