S1212 - Real estate and farm management including appraisals, property management (no caretaking)

Operational Details
Real estate agents and salespersons act as the middleman or agent in the sale or purchase of houses, apartments, commercial buildings, land and other real estate holdings. A real estate business employs commissioned sales staff, appraisers, office staff and management.

Agents or sales staff solicit property sales listings from prospective vendors. They assist the vendor by establishing a selling price, advertising the property, listing it with the multiple listing services and conducting open houses with prospective buyers. They also assist the buyer in selecting, visiting, inspecting and making an offer on real estate holdings. The agent or sales person also gives advice on current market conditions, prices, mortgage, legal requirements and related matters. Finally an offer to purchase may be presented and, if successful, a sales agreement is drawn up for approval of the seller and purchaser. Realtors may also rent or lease out properties on behalf of clients.

Farm management provides planning and organizational expertise to the farming client. They are responsible for ensuring the farm is operating efficiently and is financially viable. It might also involve purchasing and paying bills on behalf of the farmer. Incidentally, a farm management firm may rent out or collect rent on behalf of the farmer. Maintaining and repairing the property might also be involved. It could also include the hiring of subcontractors to provide services on a working farm.

Property management basically refers to the operation of buildings and covers employers who rent space for commercial and personal occupancy. Renting out the space and collecting rents are the major focus of this industry. It does not include repairs, maintenance of a building or landscaping and lawncare around the facilities.

SIC Codes
000000691 - Real estate
000000692 - Farm management/appraisals
000000693 - Property management