Important real estate terms
Important real estate terms
Real estate Developer:
a person or a commercial company whose task is to develop a specific area or site or rebuild an existing building and modernize it, their main interest is in the financial and mathematical aspects of projects, which include under their list malls and commercial institutions.
The real estate developer contracts with construction contractors with providing the entire financing for the project, such as residential cities or large residential compounds, until its completion and we find that the real estate developer spends his time between searching for suitable places for development and dealing with financial institutions and banks, as well as construction offices and contractors, we find that the skills are the main requirement for the developer is the financial and economic aspect of the project, unless he gets involved into great financial risks if he lacks these skills.
Real estate development companies:
They are mostly companies because it is difficult for individuals to bear the costs and time and their task is to advance and raise the level of urban communities in certain areas and these companies can be considered a type of real estate development company or part of its tasks, but here they are mainly meant at residential projects or Resorts and hotels, as mentioned above, with these tasks, there must be provided with the skills of the economic and financial aspect and the ability to finance or provide sources of funding for these projects, so it is difficult for the individual to bear all this alone.
Real estate company:
it is a term that is not completely obvious when we describe it as a company, since all companies working in the real estate field carry this name and it is customary for this description to be inclusive of either a developer or a real estate marketer or both.
Real estate Brokerage company / brokerage:
It is a company that acts as a negotiator between the seller and the buyer, and it often has a number of brokers (individuals) or branches that use them to provide their services, which are in return for a commission agreed in advance with the two parties, but there has been a confusion and misunderstanding in this name between individuals and institutions, but it is widely spread anyway and needs social communication skills and constantly monitoring the real estate market to identify the available real estate opportunities and changes in the region in which it is active, such as establishing transportations projects or vital projects and of course selling and negotiation skills.
Real estate broker / Broker:
It is a free person or with a small office, works independently or with a brokerage company, mostly with a specific geographical zone or simply a region that he does his work within it only . This type is also very widespread and depends on communication and negotiation skills, sometimes the skill of insisting is very needful in this field.
Real estate marketing companies:
It is one of the most misunderstood terms in which it has become a name for brokerage companies, but the base for it is for two points: firstly, preparing pre-construction marketing studies, secondly : preparing promotional campaigns for the real estate development companies and there is also another activity that may be done by the real estate marketing companies, which is the publicity of a certain brand or real estate trademark, and of course this type of company needs a good marketing team as well as a great degree of understanding the nature of buyers in the target areas.
Real estate investment companies:
Here, We have two different levels under the name of real estate investment companies in Turkey, the first type: is for that company only participate or finance projects either existing or under construction, and its role is only the financial side and follow-up with it. The second type: often it is an individual person not a company, it is to study the market and the conditions of the owners in the target areas and to buy or finance properties in those areas , thus benefit from monthly or annual returns on those properties. Therefore, there is confusion and misuse of the name of real estate investment companies when describing real estate development companies.
Real estate analyst:
a person or a company, his task is to prepare statistics, feasibility studies and market studies, which he provides for those who bear the costs of real estate constructions and this field requires a high level of economic and financial analysis skills, as well as data analysis and how to undertake market studies.
