What is Real Estates?

 

 What Is Real Estate? 

Real estate is the land along with any permanent improvements attached to the land, whether natural or man-made including water, trees, minerals, buildings, homes, fences, and bridges. Real estate is a form of real property.  

Types of Real Estate

There are four main types of Real Estates. This include;

1.)Commercial Real Estate (CRE) 

Commercial real estate can be defined as property used for business purposes. 

This may include;

•Office Space 

Office space includes; suburban office parks, medical centers and urban office towers. 

•Retail Space

This entails fast food outlets, neighborhood strip malls, and regional power centers. 

•Apartment Buildings

Smaller Multifamily Property with five or more units can also be included in this. 

•Mobile Home Parks

•Leisure and hospitality property

•Self-storage and mini-storage facilities 

•Parking lots and garages

•Grocery stores and gas stations

•Movie theatres 

2.) Residential Real Estates

This are properties that serve as housing or a dwelling and encompass single-family, duplexes and other multi-family homes. 

•Single-family houses

•Condominiums

•Cooperatives (Co-op)

•Townhomes

•Duplex

•Triplex

•Fourplex

•Mobile homes 

3.) Industrial Real Estates

Industrial Real Estates refers to properties used to develop, manufacture, or produce goods and products, as well as logistics real estate that supports the movement and storage of products and goods.

•Manufacturing

•Data server centers for companies 

•Power plans and solar generating stations 

•Production facilities and food processing centers 

•Freezer and refrigerated storage facilities 

•Storage warehouses and distribution centers 

•Research and development parks 

4.) Land Real Estates

This entails purchasing of vacant or raw land for future development and for natural resources rights such as mineral, water, or air rights in urban areas.

•Undeveloped raw land

•Recreational parcels for camping, hunting, and fishing

•Farms and ranches

•Timberland

•Orchards

•Planned urban development (PUD) for residential or commercial development

•Lots in a subdivision 

Benefits of a Real Estate. 

What is the benefit of a real estate sales team A Real Estate Sales Team can be a powerful tool for brokers and experienced agents. It can provide invaluable guidance and mentorship to less experienced real estate agents. So a Real Estate Team is not a bad idea, but the FREC Rules do not allow an agent to supervise another agent. Only brokers are allowed to supervise agents under those Rules.

How do I document my agreement with other agents You can create a Real Estate Sales Team with two levels of agreements. The first level is with the agents who will be members of the Team. The second level is between the broker and the team leader and team members. 

The first level by and among the team members covers the commission split and the roles of each party. Commission splits are well established in the real estate industry. These commonly occur when the buyer and the seller have separate agents. In that case, each agent usually takes half of the sales commission. In the Real Estate Sales Team model, team members can share their commission with the members and team leader.

The team member agreement should also define the role and the relationship of each party. It may also include provisions like noncompete and nondisclosure arrangements to protect the integrity of the Team.

The second level agreement with the broker is a three-party contract including the team leader and team members. Its purpose is to document the supervision of the broker and address the commission split arrangement by and among the team.

Where can I get a Real Estate Sales Team agreement Real estate agents know that real estate transactions in Florida must be in writing. So they recognize the value of a properly prepared legal contract. A skilled and experienced attorney should draft the Real Estate Sales Team agreements. The underlying purpose of the contracts is to document the team relationship, protect business interests, and create a for benefit for all team members. A poorly drafted agreement may be unenforceable. The effect of that may undo the entire operation and create more problems. For example Free Web Content, non competes are strictly interpreted under Florida law. Only an expert lawyer will know how to create a solid and enforceable noncompete.

Conclusion 

Creating a Real Estate Sales Team can be a tremendous benefit for agents and brokers. A skilled attorney can properly craft the documents necessary to structure the relationship. As a real estate agent your reputation and your skill in developing and securing new listings is the core of your business. You can benefit from this structure and should have it done properly to avoid problems. David Steinfeld has successfully created Real Estate Sales Teams. He can assist you with creating your Team.