Real Estate Sector
1- Introduction
1- Property management
2- Marketing and brokerage
3- Real estate development
1-Introduction
The real estate sector is an intersection of several sectors, with banks often involved in financing. Additionally, the construction and architecture sector plays a significant role in this industry.
There are three main areas within the real estate sector, which include:
1- Property management
2- Marketing and brokerage
3- Real estate development
1- Property management
Property management involves acting on behalf of the property owner, such as maintaining the properties, addressing any violations or infractions, ensuring regular building maintenance, and collecting rent payments in case of tenants. This is typically done in exchange for a financial fee, which is usually a percentage of the property’s price.
2- Marketing and brokerage
Working with sellers and buyers involves searching for a suitable buyer or tenant for the property in the market based on price, location, and requirements. Finding the buyer or tenant is done by offering the price or advertising through websites, real estate offices, or property platforms. They receive a commission for brokerage, which is a percentage of the selling price.
3- Real estate development
Land development involves creating new layouts and developing remote areas to allocate residential, commercial, and industrial zones for investment purposes. Revitalizing old housing aims to make them suitable for investment for sale or rent. The construction sector intersects in this field, typically with commercial objectives. Additionally, the banking sector intervenes to finance large projects, with profits distributed between the developer and the bank. Sometimes, investment takes the form of stocks, with an annual return based on the owned shares.