Real Estate

Real estate is a legal term which comprises of land with anything permanently attached to the land like building. Real estate is often considered synonymous with property but it is in contrast with personal property However, for technical purposes, people refer to the land and fixtures themselves, from real property, referring to ownership rights over real estate. The terms real estate and real property are used primarily in common law.In previous years economists have agreed that the lack of proper real estate laws can be a significant impediment for investment in developing countries. In most societies, rich or poor, a major part of the total wealth of people is in the form of land and building. In most advanced countries, the main source to raise capital used to purchase and improve land and buildings is mortgages -- bank loans for which the real property serves as a collateral security.Banks and financial institutions are ready to grant such loans at favorable rates in large part because if the borrower can not make payment the bank can foreclose, that is, file a court action so that the bank takes the property and sells it to recover their money . But in developing countries there is no effective mortgage loan industry as such either they do not exist at all or they are only available to members of privileged social classes.

Real estate is derived from the feudal principle that in a monarchy that is all land was considered the property of the king. Originally the term real estate was equivalent to "Royal Estate".The word "Real" originating from the French word "Royale

Real estate has become a significant area of business. Investing in real estate asks for a significant investment.Each piece of land has unique characteristics, the real estate industry has evolved in cities such as Vancouver, British Columbia which have experienced remarkable growth in real estate prices . Various kinds of real estate businesses include:

• Brokerages which assists buyers and sellers in transactions
• Real Estate Marketing- Managing the sales side of the property business
• Development which improves land for use by adding or replacing buildings
• Property management which includes managing a property for its owner
• Appraisal - Professional valuation services
• Relocation services which includes relocating people or business to different country