Real estate
is a legal term (in some jurisdictions, notably in the USA, United Kingdom, Canada, and Australia) that encompasses land along with anything permanently affixed to the land, such as buildings, specifically property that is stationary, or fixed in location.
Real estate law
is the body of regulations and legal codes which pertain to such matters under a particular jurisdiction. Real estate is often considered synonymous with
real property
(also sometimes called
realty
), in contrast with personal property (also sometimes called
chattel
or
personalty
under
chattel law
or
personal property law
).
However, in some situations the term "real estate" refers to the land and fixtures together, as distinguished from "real property," referring to ownership rights of the land itself.
The terms
real estate
and
real property
are used primarily in common law, while civil law jurisdictions refer instead to immovable property.
Frank
asked:
"I want to work in commercial real estate. I am working in Hotel Management at the moment, but think commercial real estate is interesting. Im young enough where a career change is not out of the question. What types of things do employers look for? Is there a high demand for people in commercial real estate?"
Question posted courtesy of:
Lars Ulrich replied:
"Actually, what matters in real estate business is not your background but your connections. I am not however telling you that educational background or work experiences are dispensable. What I mean is, they are just secondary. Well, if you have a target market or list of people who are planning to buy real estates, then grab the opportunity. Real estate is one of the most rewarding careers. Remember that in establishing yourself in the real estate business, you should start with proper motivation and patience. By the time you start real estate, you might even need to work extra hours in order to establish a network of clients. What matters in real estate is your connection, patience and ability to mutually satisfy your objectives and your clients' demands.I suggest that you have a short study of real estate. This will be of help in your chosen career. You can either study by yourself (buy real estate book) or enrol yourself to short term courses that focusses on real estate.Good luck to your career shift!Cheers"
Tosin o
asked:
"I am 22 years old and looking to get in the commercial real estate industry, preferably the leasing aspect. What would be fundamentally required for a person as young as me to be even considered for a job in a large commercial real estate firm? Considering I have a real estate agents license, what else would be needed or would interest a company in hiring someone so young? In other words, how can I get my foot in such an industry, thus giving me a chance to work my way up?"
Question posted courtesy of:
kemperk replied:
"You did not volunteer where you are butI am betting 95% of the commercial officesin any city will welcome you.Make sure you are studying business andesp commercial real estate during your sparetime.If you are in AZ, I will hire you immediately.Remember, there is a HUGE differencebetween working for a "company" as anemployee and a real estate officewhere you are a 100% commissionedagent."
Ben V replied:
"Commercial is an amazing opportunity and it's also a lot of hustling. You'll work your tail off and likely do quite well.I would recommend getting your CCIM certification. It will take you some time as you're just getting into the industry, but the CCIM designation is almost like getting a graduate level degree. It's a lot of work, but will set you apart from the field - as well as teach you how to do what it takes to succeed in the industry.Follow this link to get more info on how to get your CCIM:The best way to get into a large office is to put together your resume, a cover letter as to why you want to do what you want to do, dress nicely (tie and slacks bare minimum) and walk into your local Marcus and Millichap, CBRE, Cushman Wakefield, and so on. If you're in Texas, consider Keller Williams as well. Outside of TX they don't have as much of a presence in commercial. Stay away from REMax commercial in most areas. Depending on where you are, they're mostly considered the scrubs of the commercial real estate industry.Best of luck"
sophieb replied:
"work your way up to what?"
Umokay
asked:
"Can you simply go to one of those week-long real estate schools like residential real estate licensing? And what are the qualities that help a person succeed in commercial real estate sales? Is this a young person's game? Can you start and succeed at middle age? Would like to bank 70k-100k? Is this reasonable?"
Question posted courtesy of:
linkus86 replied:
"In most states the licensing for a commercial Realtor is exactly the same as it is for a residential real estate license. Just getting licensed isn't going to allow you to walk into a 70k-100k/yr job, but will likely see that or more if you know what you are doing. Being a Realtor is a 100% commissioned job and it takes time to build your business. Amongst the successful commercial Realtors I know, like my brother, they all have the CCIM designation which is what they refer to as the PhD of commercial real estate. As far as starting in middle age depends alot on how well you have networked thus far. The majority of commercial Realtors I know are between the ages of 33-60."
nickhinkle
asked:
"At first i was thinking of becoming a residential real estate agent but then, someone told me about commercial real estate and i was wondering would that be a better career choice and does it work the same as residential. If so, that would be major commision on a $40 million building and that would be a better route i would love to take."
Question posted courtesy of:
ctcutie95 replied:
"My father is a commercial real estate broker and he has definetly made a very successful living off of it. I dont know exactly how much comission he makes, but I have heard he has made 4 million before on one building, I dont know if that is the highest he has made on one building though. He has sold 70 million dollar buildings before. It definetly makes you much more than residential real estate. And the market doesnt get bad for commercial. It is a better market and a smarter choice."
PIE R SQUARED replied:
"Commercial real estate agents usually make more than residential BUT there is a long wait for your first commission the commissions are few and far between but they are larger."
Roxann Colter
asked:
"The CMBS market is paralyzed and the CMBX says prices will fall 23 percent over the next three years. There are a lot of interest only commercial real estate mortgages in CMBS portfolios and many will begin amortizing this year. If a recession is upon us and those borrowers can't meet their debt service requirements under the new amortization - it seems to me we have a repeat of what is happening in the subprime universe."
Question posted courtesy of:
R8derMike replied:
"You have made a good point, as always.It does seem that the U.S. is headed down that road."
dlotterer1 replied:
"The commercial real estate market is much broader and dynamic than the residential market. There are many property types, whose valuations seldom move in unison. The basic property types are: retail, office, industrial and multifamily residential. The health of each of these markets is determined, to a large extent, by supply and demand. Supply is measured by vacancy rates, while demand is a function of the underlying business climate.A recession hurts demand, however these markets are very slow to react. In our current economy, the issues we have seen have been largely on the consumer side. Corporate borrowing tends to be more conservative and more heavily scrutinized by the banking industry.I expect that the commercial market will remain stable through this downturn and not experience the foreclosures and value deflation that we've seen on the residential side."
(AP) Regulators on Friday shut down Silver State Bank, saying the Nevada bank failed because of losses on soured loans, mainly in commercial real estate and land development.
Stanton, Calif., (June 16, 2008) – Seal Beach, California-based Heslin Becker Properties, LLC, a full-service commercial real estate acquisition and development firm, recently acquired a 30,000 square-foot former Albertson’s building in Stanton, Calif. This transaction marks the company’s second purchase of an Albertsons property in Stanton.
Gurgaon is the hot destination for real estate development in India. The real estate developers and real estate investors are much interested in investing in the booming real estate market in Gurgaon. We Affinity Solutions Pvt Ltd Provide best deals in DLF Phase- Gurgaon real estate as you can buy commercial, residential plots, flats, office space.
Having property in Gurgaon is beneficial in respect to prices, rental income and security. The prices of residential as well as commercial real estate has been increased at a fast pace. It's been over 60 years, since the DLF Group has been providing us its exceptional real estate services. DLF has over 224 million sq. ft.
LOS ANGELES (October 2, 2008)— Commercial real estate investment banking firm, George Smith Partners, Inc. has formed the Lender Services Group to effectively market and sell lenders’ assets in an accelerated format, while focusing on the highest recovery for the lending institution.
