“Real estate” as a term includes both land and any permanent improvements attached to the land, whether natural or man-made – from buildings and homes to fences and bridges. The real estate industry deals with everything related to this property, including its development, appraisal, marketing, selling, leasing, and management. It can encompass both commercial, industrial, residential, and agricultural properties.
More than just bricks and mortar, real estate is a crucial industry which underpins the rest of the business world, and is usually viewed as an early indicator of regional economic well-being. While the fortunes of the industry are tied to national and local economies, people will always need homes and businesses will always need office space, so the industry is blessed with a consistency which is uncommon elsewhere, and has consequently become one of the most lucrative in the world today.