Whys and Whats of Real Estate and Our Theme Song

Basically, real estate is defined as land and anything that is permanently affixed to it (buildings, fencing, as well as items attached to the buildings: plumbing, electricity, etc.). Most real estate agents deal with three major types of real estate: vacant land, commercial properties and residential properties.

Whether a potential home owner, seller or investor; it is imperative to understand what real estate is. Before consulting an agent, you need to know what your needs and desires are so that you can find an agent that specializes in your particular area. Take a break before we get into it for our theme song:

Vacant Land

The price and property size can be quite large and profitable for the agent and seller. Farms and ranches generally fall into this category; but uninhabited lads barren of structures within urban areas also fall into the category. With the influx of urban revitalization, sellers are finding financial success in selling their lots to developers with the assistance of knowledgeable agents.

Commercial Properties

This type of real estate can consist of empty land that has been zoned for business use, or an existing building that currently or previously played host to a business. The valuation of commercial property is quite complex and requires the assistance of an agent. The valuation includes: historical revenue, cash flow with previous owners as well as the potential once current owner perks have been removed (if applicable), the income potential of the property, and more.

Residential Properties

Since the 2000 US Census, it has been determined that there are greater than 105 million [occupied] housing units within the United States. These statistics make this the most profitable type of real estate for sellers. Combine this with vacation homes, condominiums, duplex housing and more, the buying and selling potential is astronomical. Long gone are the days that the consumer could ONLY purchase or sell a single family home. Consumers can own a duplex and rent the additional unit and more.

Consumers can also be assisted by a qualified real estate professional with purchasing residential properties for the sole purpose of renting multiple units to others.

Overview

Should you find yourself in need of assistance with the liquidation of real estate that is a part of familial estate, an agent will be able to assist you as well. Moreover, a licensed agent should be consulted regarding any questions or needs that fall into the realm of real estate. As attractive as it may appear, financially, to buy or sell property on your own; it will not be as profitable as having a trained professional on your team.

Want some more heavy lifting on Real Estate: http://www.investopedia.com/terms/r/realestate.asp