How real estate works?

To understand how real estate works we should understand what is real estate. Real estate is a big industry that consists of land, buildings, roads, utility systems etc. This also includes the title of ownership, improvements, and natural resources like minerals, plants, animals and water. This diverse industry can be classified into different parts. The value of the real estate industry is rising every day. Therefore, people are making profits by buying and selling properties. Since everyone wants to possess land or wants to deal with land, this industry will grow more in the upcoming years. Let us now understand how real estate works.

How does real estate work?

After doing a little bit of research, I feel real estate can be broken down into two primary parts that connect the buyers and sellers. The two primary parts are:

• Real Estate Agents

• Real Estate Platforms

What are real estate agents?

In simple words, real estate agents are brokers who connect the buyers and sellers, tenants and landlords. When we are purchasing a property, we can't just stand in front of the house and wait for the owner to make a deal :P Is it? So, to approach the owner we can contact a broker who can help us talk to the owner. The agents also help the owner to find genuine buyers. Again, we can't sell or rent our property to someone we barely know. So that's where we need a broker who can help us out. The broker helps in negotiation and after connecting buyers with sellers, or tenants with landlords they can get a good commission.

What are real estate platforms?

Nowadays with digitalization, you can actually check or list your property online and directly connect with buyers or sellers. No need to visit a broker and spend a chunky amount. There are so many diversified real estate platforms such as NoBroker, Housing.com, Magickbricks, and Makaan.com. Amongst them, NoBroker is the top real estate platform in India. It is the most genuine and trustworthy platform where millions of users connect every day. Other ways to connect directly are Facebook groups, Telegram, and Whatsapp.

What type of properties do real estate platforms deal with?

• Commercial Real Estate

• Residential Real Estate

• Industrial Real Estate 

• Land

I hope I was able to clear the doubt regarding how real estate works.

I have come across an answer on how to start real estate business. If you want to join this industry you can also read the answer to that question. It will enrich your knowledge. 

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