Real estate deals involve many aspects of dealing with real estate property. One of the most important things to note when buying real estate property is to know your goals. There are different types of real estate property, and knowing these different types will help you decide on the correct type of real estate property for you. Below are some common real estate properties and their types.
The first type of real estate property is immovable real estate property. Immovable real estate property includes the buildings and land on it and its attached natural resources like water, plants, or minerals; immovable land of this kind is usually on a large piece of land. Because of the immovable nature of real estate property, you need to have a reliable broker. We can help you get the best real estate property and act as a liaison between you and the property seller.
Another type of real estate property is the non-immovable asset class. Non-immovable assets include items like fixtures and furniture. Furniture and fixtures include the sofas, chairs, desks, etc., that you use in your office or home. Office property has items like computers and related equipment, office supplies, printers, etc.
The third type of real estate property is commercial property. Commercial property includes any buildings and land used for business purposes, like offices, stores, warehouses, shopping malls, etc. Some examples of commercial real estate include apartment buildings, industrial real estate, and leasehold improvement property.
The fourth type of real estate is residential property. It can either be a single-family residence or a multi-unit apartment building. Single-family homes include apartments, condominiums, townhomes, and mobile homes. Multi-unit dwellings include multiple unit dwellings, townhomes, and condominiums and are sold on a stand-alone basis. A residential tenant will pay a base rent to a landlord and is responsible for maintaining the premises. Tenants can also buy their plot of land within the property and are free from all obligations to the property owner.
The fifth type of real estate is commercial real estate. This is where you deal with businesses, like stores, restaurants, and offices. You would need to find a broker capable of handling industrial real estate deals and finding tenants to fill vacant positions. Since most business deals are done contractually, the broker’s role is crucial. He has to ensure that the lease agreement is strictly followed and that the tenant is hired for a vacant position.
To get the best real estate agent, you must find a strong background in commercial real estate. You can do this by checking his experience in leasing, his background as a leasing agent, and his record on vacancies. You can check the vacancy rates that he has with other clients. If he has had good experiences with a particular broker, he would likely have good experiences with others.
Another essential factor that you should consider is the accessibility of the broker. If he is available around the clock, you can be assured of his expertise in dealing with residential and commercial real estate property. Check out his clientele, too, and check if any of them has similar properties to offer. For example, if your broker happens to own a large number of retail properties, then he would surely know about vacant positions in nearby properties. Therefore, you should go with him even if you have several properties of your own.