residential or commercial properties. The real estate companies also deal in old properties, which is also a profitable business for them.
These companies generally purchase a large plot, then follow a definite plan which is based on the character of that plot. While, creating the development plan the companies consider several factors like, the locality, availability of the necessary services, value of the land, neighborhood and obviously the market of that particular region. Once the plan is decided, the construction process starts, and according to the plan, houses, markets, hotels, or complexes are built.
Sometimes the purchasers are decided first and then the projects are developed or the owner of the plot hires the companies to develop the plot of land. In other cases, these companies use their agents or the real estate brokers for the marketing of the developed properties. These companies also sell undeveloped plots of land but there are a few clients who agree to face the hazards of developing such plots into a house or something else.
The real estate companies also play the role of a broker when they confirm a deal between a property-seller and a property-buyer. In the process, the companies use to earn a good amount of money as the commission for their professional services. These companies also buy old properties, then renovate them and then sell them to new buyers. This process also helps the companies in earning higher profits.
The real estate sector promises high potential. The need for houses are increasing and it is expected to increase in future. The population of the world is growing at a rapid rate but the use of land cannot be stretched beyond a point. So, it is necessary to use a plot of land very wisely and to full extent. In order to do this, experts of the profession are needed and there arises the need of the real estate companies. Although, at some places the real estate sector is not doing well, but generally the sector is performing well.
Again the sector not only provides residential or commercial properties, but also generates employment opportunities. Experts from various fields are needed in the sector. The sector needs good architects, engineers, surveyors, landscape designers, good masons, labors, etc.