What is real estate?

Real estate is one of the biggest industries on the planet. It’s the business that’s always booming. Property is the one thing that just never stops selling or renting, regardless of the time of year, current ‘trends’, or any other factor which most businesses rely on. Property relies on itself. Depending on the demand, location, and quality, prices will go up and down, but eventually, every single property on the market is either sold or rented! 

In real estate there are three main character groups; 

Each of the following characters play a very important role in the real estate industry;

The Owner, who owns the property and feeds the market, either through investment or inheritance, and wants to either sell it or rent it out. In real estate, the owners are winners, same as the players from casinos such as betboss.com.

The Client, or Tenant, the average customer or investor, searching for a property to buy or rent.

The Agent, or Agency, the one who advertises the owner’s properties and finds the right client to match with the property, closing the deal for the property to be sold or rented.

There are also three main sectors;

Each sector defines a means of business between property owners and clients, as we know, properties can be either sold or rented. These means of business divide into three main sectors, each sector dividing into commercial or residential.

Sales, Which can be split into residential and commercial sales. Residential sales are scenarios where a client is looking to buy accommodation, for example buying a house, a villa or an apartment, while commercial sales are where business related properties are sold, for example offices, shops, warehouses etc… When it comes to sales, it’s one of the most difficult sectors in the business, as clients are a lot pickier when they have hundreds of thousands on the line, and it takes a lot more effort and paperwork to close a sale. However, Sales are always better and more dear for the client, the owner, and the agent.

Short Lets, where properties are rented for short periods of time (6 months or less), and can also be both residential and commercial. Short lets are mostly common with tourists or people working on the go, these are usually more expensive than long lets.

Long Lets, where accommodations or commercial properties are rented for one year or more. This is where the business booms. More people afford to rent than to buy. A lot more. This means that there’s numerous new clients popping up everyday looking for a place to rent, whether they just moved to your country to stay and need a good private place to stay, or maybe a local’s contract has recently ended and they would like to look for something a bit cheaper or higher quality. There’s lots of possibilities with long lets.

Overall, with real estate, the possibilities are endless, it all depends on YOU. Whether you have money to invest and want to become a property owner and start selling or renting out property, or whether you want to become an agent to boost the market and make some good commission, or whether you just want to buy a beautiful home for your future family. All I can say is, It’s a thrilling business, and it will never die.