Real estate is "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; (also) an item of real property; (more generally) buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings, or housing.In the laws of the United States of America, the 'real' in 'real estate' means relating to a thing (res/'rei', thing, from O.Fr. 'reel', from L.L. 'realis' 'actual', from Latin. 'res', 'matter, thing'), as distinguished from a person. Thus the law broadly distinguishes between 'real' property (land and anything affixed to it) and 'personal' property or chattels (everything else, e.g., clothing, furniture, money). The conceptual difference was between 'immovable property', which would transfer title along with the land, and 'movable property', which a person could lawfully take and would retain title to on disposal of the land.With the development of private property ownership, real estate has become a major area of business, commonly referred to as commercial real estate. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields. Specialists are often called on to valuate real estate and facilitate transactions. Some kinds of real estate businesses include:
Appraisal: Professional valuation services
Brokerages: A mediator who charges a fee to facilitate a real estate transaction between the two parties.
Development: Improving land for use by adding or replacing buildings
Property management: Managing a property for its owner(s)
Real estate marketing: Managing the sales side of the property business
Real estate investing: Managing the investment of real estate
Relocation services: Relocating people or business to a different country
Corporate Real Estate: Managing the real estate held by a corporation to support its core business—unlike managing the real estate held by an investor to generate income .
Within each field, a business may specialize in a particular type of real estate, such as residential, commercial, or industrial property. In addition, almost all construction business effectively has a connection to real estate.