Provided by George S. May International Company 

 REAL ESTATE GUIDELINES AND RESOURCES

REAL ESTATE OVERVIEW

In its simplest terms, real estate is land. However, there is much more to the real estate industry as it has developed through the years. Real estate today refers to the buying, selling, renting, leasing, and management of commercial, residential, agricultural, and other kinds of property, including all the functions that support such activities, including areas like appraising and financing. People who work in the real estate industry often have in-depth knowledge of real estate markets and of contracts, laws, and tax regulations that apply to real estate transactions.

Some of the greatest fortunes in U.S. history have been made in real estate. John Jacob Astor traded in his empire of beaver pelts for a gamble on uptown Manhattan real estate and in the process became the richest man in America. Arthur Levitt's own real estate community development following World War II virtually created the modern suburb. Developers today, such as Sam Zell and Donald Trump, have made fantastic fortunes on real estate gambles.

The real estate market has undergone dramatic changes in recent years because of real estate investment trusts (REITs) that have become major sources of financing for property acquisition and development.

As more and more families invest their savings in REITs, the wild swings of value, which often stereotype real estate tycoons, are lessened. Wall Street and REITs have had a stabilizing effect on the industry. Finally, mergers and acquisitions have increased the size and scope of firms involved in real estate, with companies like brokerage and hotel franchisers becoming involved.

Even though REITs are bringing some stabilization to real estate, the overall industry is slow to change because much of it is controlled by private individuals. The industry's unpredictable cycles and geographic markets, makes it difficult to manage by modern organizational standards.

Real Estate Associations
National Association of Realtors | Coalition of Commercial Real Estate
Associations | The International Real Estate Federation | RE Buz

Real Estate Books
First Multiple Listing Service | National Association of Realtors Bookshelf |
Wealth of Information REcampus Bookstore

Real Estate Magazines
The Apartment Professional | Building Operating Management | Buildings |
Business Facilities | More Real Estate Magazines

This information is compiled and provided by May International.