The simple definition for the real estate industry is the business of land transactions. However, it is much more complicated than that.

The real estate industry involves many different issues including:

• Construction
• Banking
• Subdivision matters
• Foreclosure
• Tax law
• Zoning
• Eminent domain

Modern real estate practice requires experience in a broad range of business negotiations. On the commercial level, the successful real estate businessperson is necessarily an individual with a deep understanding of real estate markets including the contracts, laws, economic forces, and tax regulations that impact real estate transactions.

On the consumer level, the purchase of real estate often represents one of the most significant milestones of an individual’s life in achieving the American dream of home ownership. As the real estate industry continues to evolve, it maintains its status as one of the most important components of the economy on both a national and local level.