Six Areas of Responsibility of Property Management and Real Estate Professionals

Real estate is the description of any real property you see with a lot of attached properties, where the value of the real estate has increased over time. Real estate is also property consisting of the structures on it and the accompanying land, and its accompanying natural resources like water, crops or other natural features; and immovable real estate of this kind, buildings or houses in general. Properties that are not attached to any physical structure can be termed as personal real estate. You have the legal title to real estate, so that when you sell it, you get full legal ownership of it.

The two basic categories of real estate are either residential real estate or non-residential real estate. In case of residential real estate, this includes the land on which the houses are built; the structure on the land including the houses, their foundation and other related buildings, and the enclosing lands used for the construction of the houses; and also the landowner’s right to use the surrounding areas for agricultural purposes. Non-residential real estate, on the other hand, includes the real property owned by a government institution, like schools, hospitals, shopping malls and other similar places. Normally, the price of a real estate property does not include the value of the buildings built on it but includes only the value of the land on which the structures are situated. Thus, one can buy and sell real estate property without having to worry about the value of the buildings which he has built upon it. This is the main reason why real estate as a whole is sold at a higher price.

There are several firms that deal in real estate and these firms employ real estate professionals who can help property owners maintain and manage their properties. These firms have six areas in which they concentrate. These are customer service, property management, financing, advertising, compliance and marketing.