Main Types of Real Estate

Real estate is real property consisting of the structures and land on it, and its accompanying natural resources like water, plants or minerals; immovable real estate, that is, land that is not fit for use and occupation other than residential, domestic or office purposes; a contract for the sale of such real estate, buildings or homes, and the persons involved in the transfer of ownership. Real estate brokers represent real estate buyers and sellers. They arrange transactions in real estate for their customers. Brokers play an important role in the buying and selling of property by acting as intermediaries between the parties.

In the United States, real estate brokers deal mainly in commercial real property, which includes apartment buildings, office buildings, warehouses, shopping centers, hotels, motels, agricultural lands, and other types of real estate owned by individuals, businesses and governments. A number of brokers also deal in residential real estate. They arrange the purchase of land for development of residential properties and repair and improvement of existing residential properties.

Agriculture is one of the main types of real estate handled by real estate brokers. This involves the farming of land for agricultural purposes, to produce food; protecting the land from erosion, flooding, erosion by animal or human activities, etc., and the leasing arrangements for the production of crops, livestock, etc. The principal crops grown on farm land are oats, hay, corn, wheat, vegetables and fruit. Other agricultural properties include hay fields, pastures, fences, and irrigation systems, with the main types of these systems being cropland, arable land, barns, dairy farms, horticultural, poultry farms, tobacco, walnut, sugar, orange, potato, rubber, and wool.