Real estate is real property consisting of the actual buildings and land on it, and its accompanying natural resources like water, minerals or plants; and an obligation to secure the same. A real estate agent is a person who acts on behalf of a seller in relation to real estate. Real estate agents are also referred to as real estate brokers. They represent sellers of real estate and help them sell their properties by communicating with potential buyers.
Real estate investments are those that are made to buy a fixed piece of property for a definite period of time – say, a year – at a certain price. There are different kinds of real estate investments. One can invest in residential real estate, commercial real estate and industrial real estate.
The four main types of real estate include manufacturing real estate, residential real estate, commercial real estate and agricultural real estate. Manufacturing real estate includes land intended to be used in the making of a specific product, such as an aircraft, a piece of machinery, or a building. Residential real estate includes land intended to be used as a permanent residence of an individual. Commercial real estate includes real estate intended to be used for the development of real estate surrounding the property to be bought. Agricultural real estate includes real estate intended to be used for the production of food.
-Salem Advisory, LLC
