Introduction to the Real Estate Business - PowerPoint PPT Presentation

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Introduction to the Real Estate Business

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Introduction to the Real Estate Business What are some career possibilities in real estate? Brokerage Broker or Salesperson Appraisal Property Management Financing ... – PowerPoint PPT presentation

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Title: Introduction to the Real Estate Business


1
Introduction to the Real Estate Business
2
What are some career possibilities in real estate?
  • Brokerage
  • Broker or Salesperson
  • Appraisal
  • Property Management
  • Financing
  • Development
  • Home Inspection
  • Counseling / Consulting
  • Education

3
What are the major trade organizations?
  • National Association of Realtors
  • Appraisal Institute
  • American Society of Home Inspectors
  • CCIM Institute (Certified Commercial Institute
    Member)
  • Institute of Real Estate Management
  • Many Others

4
Types of Real Property
  • Residential
  • Commercial
  • Industrial
  • Agricultural
  • Special Purpose
  • Each of these can be divided into the sales v.
    the rental (leasing) market.

5
The Real Estate Market
  • Driven by supply and demand
  • Uniqueness and immobility are the two
    characteristics of real estate that have the most
    impact on demand.
  • Other factors affecting demand
  • population
  • demographics
  • employment and wage levels
  • consumer confidence and emotions

6
What factors affect supply the most?
  • labor and material costs
  • selling prices
  • transfer costs
  • development and transfer costs and difficulty

7
How can government affect supply and demand?
  • Effect on interest rates
  • Zoning
  • Development regulation
  • Growth restrictions
  • Environmental regulations
  • Fiscal policy
  • Regulation
  • Fannie Mae and Ginnie Mae

8
Assignment
  • Real the two articles available from the class
    website.
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