Real estate is real property that consists of land and improvements, which include buildings, fixtures, roads, structures, and utility systems. Property rights give a title of ownership to the land, improvements, and natural resources such as minerals, plants, animals, water, etc.

There are several types of real estate, each with a unique purpose and utility. The main categories are:


#Residential
#Commercial
#Land
#Industrial

#Residential
 Residential real estate consists of housing for individuals, families, or groups of people. This is the most common type of estate and is the asset class that most people are familiar with. Within residential, there are single-family homes, apartments,Villa, townhouses,Flats,and other types of living arrangements.


#Commercial
Commercial property refers to land and buildings that are used by businesses to carry out their operations. Examples include shopping malls, individual stores, office buildings, parking lots, medical centers, and hotels.



#Land
Land is the baseline for all types of real property. Land typically refers to undeveloped property and vacant land. Developers acquire land and combine it with other properties (called assembly) and rezone it so they can increase the density and increase the value of the property.


#Industrial
Industrial real estate refers to land and buildings that are used by industrial businesses for activities such as factories, mechanical productions, research and development, construction, transportation, logistics, and warehousing.


Examples of Real Estate

let’s explore some specific examples of different types of real property.

#Single-family dwelling – Any home designed for only one family

#Multi-family dwelling – Any group of homes designed for more than one family

#Attached – Any unit that’s connected to another (not freestanding)

#Multi-family house – Often seen in multi-story detached buildings, where each floor is a separate apartment or unit.

#Apartment – An individual unit in a multi-unit building. The boundaries of the apartment are generally defined by a perimeter of locked or lockable doors. Often seen in multi-story apartment buildings.


Overview of Real Estate Industry
Let’s explore how the industry works  The real estate industry can be divided into several different areas:

Development
Sales and marketing

Professional services (law, accounting, etc.)
Let’s look at each of these 3 areas of the industry in more detail.

 #1 Development
Real estate development is a process that involves the purchase of raw land, rezoning, construction and renovation of buildings, and sale or lease of the finished product to end users. Developers earn a profit by adding value to the land (creating buildings or improvements, rezoning, etc.) and taking the risk of financing a project. Development firms create a new product, which can be thought of as the “primary market” or generation of new inventory.

 #2 Sales and marketing
Sales and marketing firms work with developers to sell the buildings and units they create. These firms earn a commission for creating all marketing material and using their sales agents to sell the inventory of completed units. These firms typically focus on new units.
 
#3 Professional services
There are a variety of real estate professionals who work in the industry and help make it function. The most common examples (other than the ones listed above) are accountants, lawyers, interior designers, stagers, general contractors, construction workers, and tradespeople.