Copyright © Philip M. Parker, INSEAD. Terms of Use.
Definition: Real Estate |
Real EstateNoun1. Property consisting of houses and land. Source: WordNet 1.7.1 Copyright © 2001 by Princeton University. All rights reserved. |
| Domain | Definitions |
Computing | Real estate n. May be used for any critical resource measured in units of area. Most frequently used of `chip real estate', the area available for logic on the surface of an integrated circuit (see also nanoacre). May also be used of floor space in a dinosaur pen, or even space on a crowded desktop (whether physical or electronic). Source: Jargon File. |
Finance | Land and all physical property on, below or attached to the land. Houses, sewers, trees and fences are all real estate. (references) |
Source: compiled by the editor from various references; see credits. | |
(From Wikipedia, the free Encyclopedia)
Real estate, is real property consisting of land, anything permanently affixed to the land (i.e., buildings), and those things attached to the buildings (including such things as lighting fixtures, window coverings, built-in appliances, etc.).
The term "real estate" was derived from "royal estate", real meaning royal in Spanish. A more modern US term is realty. A person dealing in real estate is usually called a real estate agent; those United States real estate agents who are members of the National Association of Realtors call themselves Realtors, a trademarked term which the NAR claims may not be used to refer to real estate agents who are not members. (In the United Kingdom the offices and staff are just 'estate agents'.) In civil law jurisdictions the term is immovable property.
Because such property is essential for industry or other activity requiring a lot of fixed physical capital, economics is very concerned with real property and rules regarding its valuation and disposition, and obligations accuring to its owners. In economic terms, real property consists of some natural capital (or land, one of the factors of production especially in agriculture), and infrastructural capital (the buildings, water and power lines, and other improvements necessary to make real property useful for some human purpose). Other fixed physical assets, indistinguishable economically from infrastructure, such as machines, may be stored on real property and may require natural or infrastructural attributes (such as running water for a turbine or an isolated location to allow loud noise emissions) hard to duplicate even nearby.
Accordingly, real estate tends to be difficult to evaluate in terms of commodity markets - each piece is unique and has unique advantages and drawbacks. What is more, zoning laws and severability requirements vary so much that the law regarding real estate is among the most complex law there is. Specialists are usually required to valuate, broker or sell real estate. Real estate businesses divide into several broadly stated types:
Brokers attempt to match available properties with buyers. They usually retain a monopoly access to a multiple listing service in order to share information with other brokers. Agents work for brokers. The basic profits are a 6% fee on the purchase price. 3% of the fee goes to the broker listing the property, and 3% to the broker locating a buyer.
Commercial Real Estate businesses rent buildings and parking lots to other businesses. Businesses usually make excellent tenants. They pay on time, and generally fulfill contractual obligations. The difficulty is that it can be difficult to find commercial tenants. Some commercial real-estate owners specialize in small retail properties, and place their own businesses, usually franchises, in their own real estate. Basic profits come from the fact that a building that sold for $100 a square foot may rent for $1 per square foot per month. To increase ROI, commercial landlords place a mortgage with a lender. A major source of cash is that they borrow the cost of the building, but must depreciate it. Most landlords reinvest the cash allocated for depreciation, growing their assets.
Apartment Buildings are usually owned by businesses. The management and upkeep costs are much larger than commercial real-estate, but the business has far less difficulty finding tenants. To increase ROI, commercial landlords place a mortgage with a lender. Basic profits come from the fact that a building that sold for $100 a square foot may rent for $1 per square foot per month. A major source of cash is that they borrow the cost of the building, and invest the cash allocated for depreciation. The standard way of coping with the management problems is to retain professional managers certified for residential real estate.
Developers build on land, thereby increasing its value. Developers are extremely concerned with providing useful buildings and structures. Useless buildings have no value, which means they can't be sold or rented. The basic profits come from the fact that rural land sells for about $1200/acre in the U.S., and converts to 43,560 square feet of building that can be sold for $100/sq. foot, or rented for about $1/sq.foot. However, the building can only sell if it's in the right location, has utilities, construction costs can be managed, and the project completes on time. The standard solution to the construction problems is to retain a registered professional engineer who specializes in supervision of construction, and involve this person before purchasing the land. The standard solution to the salability problems is to retain an architect to design an attractive development. Many developers retain ownership of profitable rental properties.
See also: condominium List of real estate topics
Source: adapted by the editor from Wikipedia, the free encyclopedia under a copyleft GNU Free Documentation License (GFDL) from the article "Real estate."
| The following table is compiled from various sources, across various languages. When English abbreviations or acronyms come from a non-English source, this is noted. | |||
| Entry | Source | Expression | Field |
| REMIS | English | Real Estate Management Information System | Computer - Computer - Computer - Computer - Computer - (GREP, EMACS, ...) |
Source: compiled by the editor, based on several corpora (additional references). | |||
Synonym: Real EstateSynonym: realty (n). (additional references) |
| Context | Synonyms within Context (source: adapted from Roget's Thesaurus). |
Land | Acres; real estate. (property); landsman. |
Property | Landed property, landed real estate property; realty; land, lands; tenements; hereditaments; corporeal hereditaments, incorporeal hereditaments; acres; ground; (earth); acquest, messuage, toft. |
| Source: adapted from Roget's Thesaurus. | |
| Domain | Usage | |
Screenplays | One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. (Wall Street; writing credit: Stanley Weiser and Oliver Stone. Starring Charlie Sheen as Bud Fox, Michael Douglas as Gordon Gekko, and Martin Sheen as Carl Fox.) Real estate. (A Charlie Brown Christmas; writing credit: Charles M. Schulz) Yeah, a bunch of real estate for sale at close-out prices man! (Day of the Dead; writing credit: George A. Romero) We struck it rich in real estate, making Paris ugly. (Nelly & Monsieur Arnaud; writing credit: Jacques Fieschi; Claude Sautet) No, let's save that for when we sell real estate. (SpongeBob SquarePants; writing credit: Leonardo Fasoli; Patrizia Fassio) | |
Lyrics | Now Paul is a real estate novelist ("Piano Man"; performing artist: Billy Joel) | |
Movie/TV Titles | Real Estate (1973) | |
Source: compiled by the editor from various references; see credits. | ||
| Domain | Title | ||
References |
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Books |
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Periodicals |
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Theater & Movies | |||
High Tech |
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Consumer Goods | |||
Source: compiled by the editor from various references; see credits. | |||
| Thumbnail | Description & Credit |  | More of Illinois' prime farmland soils are converted from agriculture to real estate property every day. This field near Peoria, Illinois has produced its final crop.Credit: Bob Nichols. |
Source: compiled by the editor from various references; see credits. | |||
| Author | Quotation |
Nathaniel Hawthorne | Death possesses a great deal of real estate, namely the graveyard in every town. |
Source: compiled by the editor from various references. | |
| Subject | Topic | Quote |
Business | Several real estate developers have also entered the market with funds. (references) | |
The new era of real estate development can be divided into three periods. (references) | ||
In particular, these effects have been felt by the Taiwan real estate sector. (references) | ||
Civil Liberties | Syria | Recognized religious groups receive free utilities and are exempt from real estate taxes and taxes on official vehicles. (references) |
China | Newspapers and magazines appeared to be increasingly bold in their economic reporting--particularly on finance and real estate issues. (references) | |
Iraq | In 2000 the director of the Real Estate Registration Department stated that pursuant to the decree, the Government confiscated the property of a number of persons. (references) | |
Discrimination | Belize | These occupations include fishing, souvenir manufacturing, sightseeing tours, accounting, insurance, real estate, and legal services. (references) |
Economic History | India | Indian real estate portal. (references) |
Bahrain | Services (31% of GDP): Banking, real estate, insurance. (references) | |
Human Rights | Yugoslavia | On November 2, Minister Batic announced the dismissal of 128 judges and 69 magistrates on the grounds of general incompetence; of these, 58 were accused of involvement in electoral fraud, political trials, and the illegal expropriation of real estate. (references) |
Political Economy | THE BAHAMAS | This has stimulated the second home/vacation home market and revived the real estate sector. (references) |
REPUBLIC OF KOREA | For the first time in modern Korean history, foreigners now may purchase property and real estate. (references) | |
Trade | Romania | VAT generally applies to the supply of goods, transfer of real estate, and services. (references) |
Kenya | These institutions normally invest their funds in real estate and listed securities. (references) | |
Ghana | Other than real estate, NBFIs have provided little medium- and long-term finance to the economy. (references) | |
Travel | Ghana | Enterprises in real estate and agro-processing activities enjoy a tax holiday of 5 years. (references) |
Romania | Office space is also available from the many real estate agencies active in all major cities. (references) | |
Netherlands | It might be necessary to engage a real estate agent (makelaar), although their fees are high. (references) | |
Women | Congo | Women are required by law to obtain their spouse's permission before engaging in routine legal transactions, such as selling or renting real estate, opening a bank account, accepting employment, or applying for a passport. (references) |
Worker Rights | Russia | The majority of its income comes from sources other than dues, such as rental income, sale of real estate, and fees for member services. (references) |
Source: compiled by the editor from ICON Group International, Inc.; see credits. | ||
| Speaker | Term | Phrase(s) |
Harry S. Truman | 1945-1953 | The prices of real estate, which cannot now be controlled under the law, are rising rapidly. |
George Bush | 1989-1993 | Real estate has led our economy out of almost all the tough times we've ever had. |
Source: compiled by the editor from various references. | ||
| Country | Name | Country | Name |
| Canada | Canadian Real Estate Investment Trust | Finland | Polar Real Estate Corporation |
| Germany | Adler Real Estate AG | Greece | N.B.G. Real Estate Development Co. |
| Japan | ANA Real Estate Co., Ltd. | USA | Alexandria Real Estate Equities, Inc. |
| (more examples...) |
Source: compiled by the editor from Icon Group International, Inc.
Expressions using "real estate": entailing of real estate ♦ real estate administrative services ♦ real estate agency ♦ real estate agent ♦ real estate broker ♦ real estate closing ♦ real estate credit company ♦ real estate developer ♦ real estate fund ♦ Real Estate Investment Trust ♦ real estate investments trust ♦ real estate loan ♦ real estate manager ♦ real estate market ♦ real estate office ♦ real estate owner ♦ real estate property ♦ real estate tax ♦ real estate trust ♦ register of real estate ♦ tax on real estate. Additional references. | |
| Source: compiled by the editor from various references; see credits. |
| The following statistics estimate the number of searches per day across the major English-language search engines as identified by various trade publications. Hyperlinks lead to commercial use of the expression at Amazon.com. |
| Expression | Frequency per Day |
real estate | 65,496 |
real estate listing | 8,479 |
florida real estate | 5,295 |
prudential real estate | 3,634 |
real estate agent | 3,202 |
las vegas real estate | 2,987 |
louisville real estate | 2,724 |
colorado real estate | 2,360 |
century 21 real estate | 2,284 |
real estate school | 2,171 |
| Source: compiled by the editor from various references; see credits. | |
| Language | Translations for "real estate"; alternative meanings/domain in parentheses. | |
Albanian | qymyr me cilësi të keq, pasuri i patundshme (realty), pasuri e patundshme. (various references) | |
Arabic | عقار (drug, realty, soporific), أملاك ثابتة أراضى. (various references) | |
Bulgarian | недвижимо имущество (tenement), недвижим имот (immovables, real property). (various references) | |
Chinese | 房地" , 不動" (immovable property, immovables). (various references) | |
Czech | realitní kancelář, nemovitost (property, realty, tenement). (various references) | |
Danish | jordbesiddelse (estate, landed estate, landed property, real property), grundejendom (estate, landed estate, landed property, real property), fast ejendom (estate, immovable assets, immovable property, landed estate, landed property, real property). (various references) | |
Dutch | vast kapitaal (immovable property, property, realty), onroerend goed (estate, immovable tangible), grondeigendom (estate, land, landed estate, landed property, real property). (various references) | |
Finnish | kiinteistö (estate, immovable property, property, real property, realty). (various references) | |
French | immobilier, biens immobiliers (realty). (various references) | |
German | Immobilien (estate, immovable property, immovables, property). (various references) | |
Greek | κτηματική περιουσία (realty), έγγειο κεφάλαιο, ακίνητη ιδιοκτησία (estate, landed estate, landed property, real property), ακίνητα (immovable property, immovably, property, realty), ακίνητο (estate, landed property, property, real property). (various references) | |
Hebrew | מקרקעין (immovables, land, realty). (various references) | |
Hungarian | ingatlan (immovable, immovable estate, messuage, property, realty, tenement). (various references) | |
Italian | beni immobili (immovable property, property, realty). (various references) | |
Japanese Kanji | 不動" . (various references) | |
Japanese Katakana | ふどうさ". (various references) | |
Manx | cooid hallooin. (various references) | |
Pig Latin | ealray estateay.(various references) | |
Portuguese | bens imóveis (chattel, immovable property, property, realty, tenement). (various references) | |
Romanian | avere imobilã. (various references) | |
Russian | недвижимое имущество (chattels real, immovable property, immovables, realty). (various references) | |
Serbo-Croatian | nekretnina (immovables, possessions, realty). (various references) | |
Spanish | bienes raíces (estate, immovable assets, landed estate, landed property, real assets, real property, realty). (various references) | |
Swedish | fastighet (estate, house property, house-property, landed estate, landed property, premise, real property), fast egendom (immovable property, immovables, property, real property, realty). (various references) | |
Turkish | taşınmaz mal (immovables, real estate property, realty), gayrimenkul (landed estate, landed property, real estate property, realty), emlâk (demesne, estate, property, real estate property, realty). (various references) | |
Ukranian | нерухомий (fixed, immobile, immovable, motionless, moveless, quiet, sedate, set, stationary, still, unmoved). (various references) | |
| Source: compiled by the editor from various translation references. | ||
Misspellings | |
"Real Estate" is suggested in spellcheckers for the following: realestate. (additional references) | |
| Source: compiled by the editor, based on several corpora (additional references). | |
Scrabble® Enable2K-Verified Anagrams | |
| Words within the letters "a-a-e-e-e-l-r-s-t-t" | |
-2 letters: alertest, resettle, stearate, teaseler. | |
-3 letters: aerates, elaters, estreat, letters, rattles, realest, relates, release, reslate, restate, retaste, settler, starlet, startle, stealer, sterlet, stratal, teeters, trestle. | |
-4 letters: aerate, alates, alerts, altars, alters, aretes, artels, astral, attars, easter, eaters, elater, elates, estate, estral, larees, laster, latest, latter, lattes, leaser, letter, ratals, ratels, rattle, reales, reatas, relate, relets, resale, reseal, reseat, retest, salter, sealer, seater, settee, setter, settle, slater, staler, statal, stater, stelae, stelar, strata, streel, street, talars, talers, tarsal, taster, tatars, taters, teasel, teaser, teeter, terete, testae, testee, tester, tetras, treats. | |
-5 letters: alate, alert, altar, alter, areae, areal, areas, arete, arles, artal, artel, aster, atlas, attar, earls, easel, eater, elate, erase, ester, laree, lares, laser, later, latte, lears, lease, least, leers, leets, rales, ratal, ratel, rates, reals, reata, reels, reest, relet, resee, reset, saree, seral, setae, setal, slate, sleet, stale, stare, start, state, steal, steel, steer, stela, stele, stere, taels, talar, talas, taler, tales, tares, tarts, taste, tatar, tater, tates, teals, tears, tease, teats, teels, telae, teles, terse, tesla, testa, tetra, treat, trees, trets. | |
| Words containing the letters "a-a-e-e-e-l-r-s-t-t" | |
+4 letters: terephthalates. | |
+5 letters: alternativeness, repeatabilities, tractablenesses. | |
| Source: compiled by the editor from various references; see credits. SCRABBLE® is a registered trademark. All intellectual property rights in and to the game are owned in the U.S.A and Canada by Hasbro Inc., and throughout the rest of the world by J.W. Spear & Sons Limited of Maidenhead, Berkshire, England, a subsidiary of Mattel Inc. Mattel and Spear are not affiliated with Hasbro. | |
Hexadecimal (or equivalents, 770AD-1900s) (references)52 65 61 6C 45 73 74 61 74 65 |
| Leonardo da Vinci (1452-1519; backwards) (references)
|
Binary Code (1918-1938, probably earlier) (references)01010010 01100101 01100001 01101100 00100000 01000101 01110011 01110100 01100001 01110100 01100101 |
HTML Code (1990) (references)R e a l   E s t a t e |
ISO 10646 (1991-1993) (references)0052 0065 0061 006C 0045 0073 0074 0061 0074 0065 |
Encryption (beginner's substitution cypher): (references)527167782398586678671 |
| 1. Definition 2. Synonyms 3. Crosswords 4. Usage: Modern | 5. Usage: Commercial 6. Images: Slideshow 7. Images: Photo Album 8. Quotations: Familiar | 9. Quotations: Non-fiction 10. Quotations: Speeches 11. Names: Company Usage 12. Expressions | 13. Expressions: Internet 14. Translations: Modern 15. Abbreviations 16. Acronyms | 17. Derivations 18. Anagrams 19. Orthography 20. Bibliography |
Copyright © Philip M. Parker, INSEAD. Terms of Use.
