The Success Of Real Estate Industry

982 Words Apr 21st, 2016 4 Pages
Real estate is made up of land (all of the natural parts of land such as trees and water) and all permanently attached fences and buildings. People use real estate for many different things, including retailing, offices, manufacturing, housing, ranching, farming, churches, and entertainment. The success of real estate depends on many related factors such as the state of the economy, demographics, transportation, management expertise and style, government regulations and taxes, location, and climate. According to the Dictionary of American History, the objective of those in the real estate industry is to create value by developing land or structures to sell or to lease or by marketing real estate parcels and interests. The real estate industry is a very big employer of citizens, simply because so much goes into real estate. It has employees in many different areas including (but not limited to) architects, designers, developers, landscapers, engineers, abstractors, attorneys, surveyors, appraisers, market experts and researchers, financial guides, construction workers, sale and leasing employees, managers, office workers, and building and grounds maintenance workers. By the end of 2001, over 1,000,000 were employed in the real estate industry, according to the Dictionary of American History.
Real estate is extremely sensitive to changes in the economy and also contributes to those changes. The combination of a capitalist economy and a fluctuating population makes the…
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