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Real Estate definition

Exactly as it sounds, it is real properties, connected to the ground somehow. The term is generally synonymous with real property and immovable property. Land and anything permanently affixed to it, such as buildings, fences, trees, light fixtures, plumbing, heating fixtures and other items attached to the structure. Personal property is not attached and is not normally considered real estate. Real estate may refer to rights in real property as well as the property itself. It derives instead from the feudal principle that in a monarchy, all land was considered the property of the king. Thus originally the term real estate was equivalent to "royal estate", "real" originating from the French "royale", as it was the French-speaking Normans who introduced feudalism to England and thus the English language; cognate to Spanish "real". With the development of private property ownership, real estate has become a major area of business. Today it is most familiar with a business which provides services of selling, buying and renting different kinds of properties. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields. Specialists are often called on to valuate real estate and facilitate transactions. Some kinds of real estate businesses include:

• Appraisal - Professional valuation services
• Brokerages - Assisting buyers and sellers in transactions
• Development - Improving land for use by adding or replacing buildings
• Property management - Managing a property for its owner(s)
• Relocation services - Relocating people or business to different country

Within each field, a business may specialize in a particular type of real estate, such as residential, commercial, or industrial property. In addition, almost all construction business effectively has a connection to real estate.
 
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