Real Estate Essay

2359 Words 10 Pages
REAL ESTATE MANAGEMENT: 1990s AND BEYOND

TABLE OF CONTENTS

Introduction

Expansion and Diversity

Human Resources Management

Conclusion

References

REAL ESTATE MANAGEMENT: 1990s AND BEYOND

BY Clark Jones

INTRODUCTION

The Journal of Property Management (1998) reports that real estate has been freed up by certain laws in the 1990s, most importantly, the relaxation of the Glass-Steagall Act of 1933, allowing market access to real estate by banking institutions; the Taxpayer Relief Act of 1997, allowing property owners indefinite tax deferral on the sale of property (an estimated $91 billion to reinvest in real estate); and the 1998 appropriations bill which cuts housing costs by introducing
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These may include listing, investment in, and sale of private, public and commercial properties; forming alliances, acquiring or merging with trusts, construction companies, security companies, and other vendors. The structure of these alliances, acquisitions and mergers will operate like a financial portfolio, used to both diversify the real estate management company and to reduce costs of operation at the same time.

Real estate laws vary from state to state, therefore, they will not be addressed except to note that laws govern real estate as well as business operations. However, real estate ethics have a great deal to do with laws. Some of the laws that affect ethical conduct include human resource/vendor payment and relationships, property valuation, appraisal, property inspections, and business management practices. Ethics for real estate agents and management require fair treatment of both the buyers and sellers of real estate whom the company represents. Property management ethics include such issues as security, safety, nontraditional services, and related concerns. Vendor ethics include all of these issues. For this reason, legal contracts between the management company and these resources are answerable to various sets of laws.

Modern real estate management firms, like other companies, must continuously conduct marketing analyses, be aware of cycles and trends, establish public relations

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