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Pursuing a Career in Real Estates - Essay Example

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Name Professor Module Date Pursuing a Career in Real Estates A business in real estate involves buying, selling or renting land with any immovable property in it like buildings and minerals. This business is recognized internationally. In the U.K., it is simply referred to as property which in turn refers to land and fixtures…
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Pursuing a Career in Real Estates
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Download file to see previous pages Title companies’ main work is to make smooth the exchange of properties between the concerned parties, doing all the work for the buyer who can be a citizen or a foreigner (Tyson and Griswold 62). Unlike the U.S., other countries have rules in regards to what property foreigners can buy. In Mexico, for example, foreigners are not allowed to own property within 50 km of the coast or 100 km from the borders unless they have a Mexican trust or Mexican corporation title. In South Asian countries like Thailand, foreigners cannot own land, but properties in it can be purchased followed by land acquisition under a lease option of 30 years. However, this land acquisition is not assured because the government still insists that land ownership by foreigners is illegal. In the Philippines real estate development is one of the fastest growing businesses (Edwards 78). This paper discusses real estate as a possible business venture and the qualities of a successful real estate agent. THE REAL ESTATE BUSINESS SECTOR As the world economies evolve, individuals and organizations have seen the need to make smart investment choices. In his book, on investing in real estate, Eldred asks, ‘What types of markets offer the best opportunities for future profits? What type of markets alleviates risks?’ (20). Questions like these are the ones that an individual asks when they wish to invest. The answer to the questions lies in the real estate industry. Real estate development has had a positive impact on economies of nations over the years. This is because land is so much a limited resource that even reclaiming it from the seas is not a sustainable option. Thus, a smart investor invests and owns part of it so as to have a bargaining chip. Furthermore, its value rarely goes down, and even if it does it does not take long for its value to shoot once again. Fields in the Real Estate Business. Private property ownership, has led to the development and growth of real estate to a significant business sector, also called commercial real estate. In reality, real estate properties are always expensive thus; they require a significant amount of investment. In addition, each piece of land has unique characteristics, which has lead to development of different fields in the industry with specialists that evaluate the real estate and facilitate the transactions. Businesses in real estate include Appraisals, where a professional determines the value of the property (Edwards 78). Second is the brokerage, where a broker is paid a fee to facilitate the transaction between the two parties. Third is development, which involves land improvement for use via replacing or adding buildings. Fourth is net leasing, which ensures tenants pay rent plus the additional expenses that are supposed to be paid by the landlord. Fifth is property management, which involves managing a property on behalf of the owner. Sixth is real estate marketing and it entails managing the sales aspect of the property. Seven is real estate investing, which entails management of the investment in the real estate. Eight is the relocation services, and as the name suggests, involves relocating business or people to different countries or regions. Lastly is the corporate real estate, which deals with management of a corporation’ ...Download file to see next pagesRead More
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