Real estate agents are very territorial when it comes to their real estate location and type. Even if the location is only a town away from other real estate agents in town, each can still specialize in the same type of property. Luckily, for many real estate agents there are different types of real estate properties they can choose to show and sell; however, they must need the proper education and license to do so.
AGRICULTUAL PROPERTY – Agricultural property is farms, ranches, land, orchards, and timberlands. This type of property requires a licensed agricultural real estate agent in order to sell to buyers. In addition, churches, cemeteries, schools, and government owned land are “special-purpose” properties.
INDUSTRIAL PROPERTY – Industrial property, confused with commercial property, is warehouses, factories, power plants, and land in industrial districts, industrial property also has special real estate agents who specialize in industrial property.
COMMERCIAL PROPERTY – Commercial property gets confused with industrial property because sometimes businesses start their business in a building that is considered industrial property (however, the city must approve of this). Commercial property is shopping malls and centers, offices, parking facilities such as parking garages and car pool stations, hotels, motels, and theaters. With commercial property comes zoning laws and certain restrictions, which is why anyone looking for commercial property should hire a professional commercial real estate agent who can answer any questions for commercial properties.
RESIDENTIAL PROPERTY – The most common throughout the real estate industry would be residential real estate. Residential real estate is exactly how it sounds, anything where a person can live; townhomes, single-family homes, multi-family homes (if less than five unites in the building), duplexes, etc. Apartments are not considered residential property because there are more than give unites in the building (any building with more than five unites is considered commercial property). As many people already know, residential property is for sale in rural, urban, or suburban areas.
As you can see, you must do your research before diving into a property of any sort. Many laws and restrictions come with buying a property, whether the property is residential property for sale, or agricultural property for sale.