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Land and all physical property on, below or attached to the land. Houses, sewers, trees and fences are all real estate.Real estate or immovable property is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings.
Real estate is often considered synonymous with real property (also sometimes called realty), in contrast with personal property.With the development of private property ownership, real estate has become a major area of business. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields.One who is licensed by the state to carry on the business of dealing in real estate. A broker may receive a commission for his or her part in bringing together a buyer and seller, landlord and tenant, or parties to an exchange.