subject: Three Basic Types Of Real Estate [print this page] Jobs in real estate are growing in popularity, and interest in the different types of real estate is even growing among the general public. For anyone who is considering going into real estate for a career or who just want to be more knowledgeable about the subject, it's important to first understand what the different types of real estate are. The three basic types of real estate are vacant land, residential property, and commercial property.
The first major type of real estate is vacant land. Vacant land can include cleared fields or tree-covered properties. Generally speaking, land real estate is much larger than houses, buildings, and other types of real estate. And depending on how large the land is and where it is located, vacant land real estate can be quite expensive. Several different types of people are interested in vacant land real estate, including ranchers and farmers, who typically purchase larger plots of land conducive to growing crops and raising animals. Smaller land plots are usually sold to individuals and couples looking to build a house or building on the land.
By far the most popular type of real estate is residential property, which makes sense because residential properties include most buildings that people live in. Specifically, residential properties include houses, apartment complexes, condominiums, duplexes, vacation homes, and more. Many real estate agents specialize in buying and selling one of these specific types of residential properties, and it's important to note that the particulars about buying and selling these properties can differ greatly depending on the specific type of residential property.
The third most common type of real estate is commercial property.
Commercial properties can include both land set aside for commercial use and buildings specifically used for business purposes. Commercial properties are a part of most people's life because they include most of the buildings where people go to work. In general, business owners and corporate professionals are the people who are most interested in the buying or selling of commercial properties.
Professional realtors, auctioneers, and everyday people are interested in real estate. The above types of real estate are the three most general types of real estate that people come in contact with every day. And once people know more about the different types of real estate that are available, they will be ready to learn more about details of buying and selling real estate.
