The Four Categories of Real Estate

Understanding the basics of real estate requires a vast knowledge of all topics in which it covers.  The Chicago Real Estate Institute offers the necessary courses needed to help all who seek licensure as an agent.  Providing both leasing agent and broker options that are flexible, affordable, and real-time virtual classes taught by industry leading real estate professionals.  The importance of attaining the understanding, expertise, and tools of real estate needed to begin a profitable career in the market starts here.

Residential Real Estate

      An efficient way to begin building your knowledge on real estate is being cognizant of the four types of real estate.  Starting off with the most common type being Residential real estate.  This included categories range from townhouses, single-family homes, condominiums, multi-family properties, cooperatives, and duplexes. 

Commercial Real Estate

      The second type of real estate is Commercial real estate.  This category covers properties that are solely for businesses.  Some relevant examples of this can be shopping centers, parking facilities, gas stations, etc.  Commercial real estate can also include owned residential units within the commercial property as well.

Industrial Real Estate

      Industrial real estate is the third category in real estate.  Generated to accommodate to activities that cover production, assembly, warehousing, storage, and related projects.  This type of real estate is categorized on its own due to the different subjects that are integrated with the sale such as zoning, permits, construction, etc.

Land – Farms, Ranches, Subdivisions

      Lastly, the fourth type of real estate is Land.  Differing from the other three types, Land can be considered real estate without buildings and is appointed as such by predetermined spatial boundaries.  More commonly referred to as unoccupied areas.  Additionally, functioning farms and ranches are classified under Land as well. You can can click here to continue learning about farm and lawn care.