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What is Real Estate?

Real estate is a type of property that consists of land and the buildings on it, as well as the natural resources of the land, including air, water, and minerals. It also includes rights to the use of the land, such as for farming or commercial development. Real estate can be divided into two main categories: residential and commercial.

Residential real estate is property that is used for housing, such as houses, apartments, and townhouses. Commercial real estate is property that is used for businesses, such as office buildings, retail stores, and industrial facilities.

There are a variety of other types of real estate, such as undeveloped land, vacation homes, and timeshares.

How Does Real Estate Work?

The real estate market is made up of buyers, sellers, and brokers.

Buyers are people or businesses that are looking to purchase property.

Sellers are people or businesses that are looking to sell property.

Brokers are people who facilitate the buying and selling of property. They are paid by the seller or the buyer, depending on the situation.

There are two main ways to buy and sell real estate: through a real estate agent or through a real estate broker.

When you buy or sell real estate through a real estate agent, the agent represents you, the buyer or seller, in the transaction. The agent works to get the best deal for you and handles all the paperwork.

When you buy or sell real estate through a real estate broker, the broker represents the seller or the buyer, depending on the situation. The broker gets the best deal for the person they are representing and handles all the paperwork.


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