What is a Real Estate business (Vlad Doronin in NY,USA)? In simple terms, it is the business of buying and selling property, whether it is residential commercial or agricultural real estate. A Realtor is one of the people who are involved in the real estate business, a real estate agent or broker acts as a representative of sellers and buyers of real estate, and he has to ensure that the transaction is a fair one and that there are no breach of contract or any other issue arising due to miscommunication or some other reason.
So, what is the real estate business anyway? The term has different types like Condominiums, Builders and Contractors, Managers and Agents, and Investors and Principals, and so on. It is a market where different types of people come together and buy and sell different types of properties. The real estate business includes buying a piece of property, constructing and furnishing it in a way that makes it more appealing to the buyers, selling it again to different types of parties and earning money out of it.
What is Commercial real estate? It is the area used by agents, brokers, businessmen, and others in buying and selling commercial real estate. This includes office buildings, malls, industrial, agricultural, and even vacant land. This is also the area where large construction projects happen. It is a lucrative business and there are many people who are making a lot of money out of it.
What is residential realty? Residential realty is the area used for the purpose of living, like housing and its accessories. It is also known as condominium. A lot of people are interested in purchasing residential realty and they do this in order to make money out of it. When a person buys a residential realty, they are able to use the property for different purposes like housing, businesses, and even for vacationing.
What is Commercial real estate means real estate with underground rights. The underground rights are the rights given to the owner of the buildings. There are different types of these rights given to different people or companies. For example, if a building is constructed with underground rights, the people who will own the buildings will have the authority to enter people’s houses and offices and take pictures, etc.
One more thing about what is real estate business is that it is a kind of investment. People who are into this kind of business can build their own buildings that they can rent out. They can do this for a longer period of time than residential buildings.