One of the most successful businesses in the construction industry is real estate. This industry covers many different aspects of the property such as marketing, development, appraisal, leasing, and the management of commercial, agricultural, residential, and industrial properties. The real estate industry does fluctuate a lot, depending on the country’s economy. Simultaneously, it remains consistent as people always need homes, and businesses need commercial space.

What is real estate?

Real estate can include property, land, buildings, fixtures, roads, structures, and utility systems. Furthermore, real estate also refers to making, buying, and selling property. Real estate property is different from personal property. The latter includes things that are not permanently attached to the land, such as vehicles, boats, furniture, and farm equipment.

What are the types of real estate?

There are several different types of real estate, each with a unique purpose and utility. These include land, industrial, residential, and commercial.

What is residential real estate?

Residential real estate

includes the construction and resale of new buildings. It consists of housing for individuals and families. A common category of residential real estate is single-family houses. Other residential real estates include co-ops, townhouses, condos, triple-deckers, high-value houses, duplexes, vacation homes, and multi-generational homes.

What is commercial real estate?

Commercial real estate includes the construction of shopping centers, strip malls, educational institutions, medical buildings, hotels, and offices. In some cases, apartment buildings are often considered commercial since they are owned to produce income. In addition, commercial real estate includes any property used exclusively for business purposes, such as gas stations, grocery stores, apartment complexes, hospitals, hotels, offices, parking facilities, restaurants, shopping centers, stores, and theaters.

What is industrial real estate?

Industrial real estate
includes manufacturing buildings and property, as well as warehouses. There can be various uses for industrial buildings such as production, research, storage, and distribution of goods. Some buildings that distribute goods are considered to be commercial real estate. The classification is necessary because zoning, construction, and sales can be handled differently for this type.

What is land real estate?

The land is the baseline for all types of real property. Land refers to undeveloped property and vacant land. Land can either mean vacant land, working farms, or ranches. Moreover, developers acquire land, rezone, and assemble it with other lands to increase the value of the property.
Moreover, there are several job opportunities that real estate offers. Now that we know all about the types of real estate, let’s see how the industry works.

How does the development sector of real estate work?

Real estate is the process of purchasing raw land, renovating, and constructing buildings. In addition, it also includes the sale , and lease of finished products. Real estate developers make buildings, rezone the area, and add improvements to increase the value of the land. They earn by making profits over these lands.

How does the marketing sector of real estate work?

There are marketing firms that focus primarily on sales and marketing of the buildings. They work with developers to sell buildings and units that they create. These firms earn by creating all marketing material and using sales agents to sell completed units.

What part is played by the realtors in this work?

A brokerage firm has a team of real estate agents or realtors as employees. These real estate agents help in communication between the buyers and the sellers of property. One aspect of their job includes the need to represent either party and help them achieve the sale or purchase with the best possible team.

In real estate, what part is played by property managers?

Property management firms may seem small but they play a role in helping real estate owners rent out the units in their buildings. Some of their many jobs include collecting rent, fixing problems, performing repairs, showing units, and managing the tenants. They earn by charging a fee which is a percentage of the rent to property owners. Quite naturally, people will always need shelter and places to work and real estate professionals are the ones who help them find homes, commercial spaces, and other properties.

The whole point of a real estate agency is to help clients succeed in buying an affordable apartment for them. There will always be more competition for real estate jobs but opportunities in the real estate business will never run out. To ease your property hunt, one of the leading real estate development companies in Nairobi and Kenya is the impala developers. They help you find the property that is right for you and fulfills all your requirements