Real Estate Business
In Australia the intermediary is referred to as a real estate agent or real estate representative or the agent. A real estate transaction is the process whereby rights in a unit of property (or designated real estate) is transferred between two or more parties, e.g. in case of conveyance one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred, the amount of money being exchanged, and government regulations. There have been various studies to detect the determinants of housing prices to this day, mostly trying to examine the impacts of structural, locational and environmental attributes of houses.
Conventions and requirements also vary considerably among different countries of the world and among smaller legal entities (jurisdictions). The mentioned research action ‘Modelling Real Property Transactions’ investigated methods to describe selected transactions in a formal way, to allow for comparisons across countries / jurisdictions. Real estate transactions: subdivision, conveyance, and mortgaging, as they are performed in the five Nordic countries are described in some detail. In more abstract terms, a real estate transaction, like other financial transactions, causes transaction costs. A translation into English is available for the Danish part. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization. Annamoradnejad, Rahimberdi; Annamoradnejad, Issa; Safarrad, Taher; Habibi, Jafar (2019). “Using Web Mining in the Analysis of Housing Prices: A Case study of Tehran”. Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may apply. United Nations System of National Accounts. By using this site, you agree to the Terms of Use and Privacy Policy. Real Estate Institute of Australia (REIA). 2019 5th International Conference on Web Research (ICWR).
Real estate business is the profession of buying, selling, or renting real estate (land, buildings, or housing). It is common practice for an intermediary to provide real estate owners with dedicated sales and marketing support in exchange for commission. In North America, this intermediary is referred to as a real estate agent, real estate broker or realtor, whilst in the United Kingdom, the intermediary would be referred to as an estate agent.
Ten thousand people visited the building on opening day. Early in its existence, the General Motors Building’s window-washing union went on strike for more than a month, and the facade became dirty. Three of the stores in the plaza had opened by October 1969, when one of the retail spaces, leased to a Longchamps, caught fire and was nearly destroyed. Initially, 3,027 GM workers took up about half the building’s space. During this time, the building was used as a filming location for the 1969 movie Cactus Flower; under an agreement with the union, the film crew threw eggs at the facade to dirty the facade again after filming was completed.
Macklowe personally pledged $1 billion, as well as interests in the GM Building and eleven other properties, as a guarantee. The GM Building was sold in May 2008 for an estimated $2.8 billion to a joint venture between Boston Properties, Goldman Sachs Real Estate Opportunities Fund (backed by funds from Kuwait and Qatar), and Meraas Capital (a Dubai-based real estate private equity firm). Such a sale would generate tens of millions of dollars in tax revenue for the city government and the Metropolitan Transportation Authority due to its high price. By February 2008, the Macklowe Organization had no way to refinance the debt from the previous year. At the same time, Macklowe put the GM Building on the market for between $3.2 and $3.5 billion. Macklowe received an extension on his loans to avoid foreclosure of the GM Building.
