Real estate is a very influential segment of our economy, as we discovered after the real estate bust of 2007. It seems that when the real estate market is flourishing, the economy flourishes, and when the real estate market crashes, the economy also crashes. There are many industries tied to the success or failure of the real estate market.
With a real estate license, you can sell many types of real estate, including residential, commercial, industrial, agricultural, and even businesses. Your real estate license also allows you to manage real estate for absentee owners.
It takes knowledge and understanding of all aspects of the real estate transaction, from marketing homes you list to negotiating contracts to understanding the role of appraisers, home inspectors, and closing agents. Real estate licensees must move a customer or client from the beginning to the end of the transaction understanding all the possible issues that could occur along the way.
Another area of real estate that some find fascinating is land development and construction. Land development and construction is a specialty area that requires additional knowledge and understanding. Subdivision development requires local approval of a subdivision plat map and other hoops a developer must go through before construction begins.
The local, State and federal governments all play essential roles in real estate. We will walk you through how each plays a role in our real estate market.
The National Association of REALTORS© is one of the largest trade associations in the world. They help protect consumers and REALTORS© by introducing and lobbying for legislation that enhances our industry. Many real estate licensees are members of this association. You will also learn about other professional organizations that may help you become more proficient in your business.
