The NATIONAL ASSOCIATION OF REALTORS, The Voice for Real Estate®, is the world’s largest professional association. Founded in 1908, NAR has grown from its original nucleus of 120 to over 1.3 million members today. NAR is composed of REALTORS who are involved in residential, commercial and land real estate as brokers, salespeople, property managers, appraisers, counsellors and others engaged in all aspects of the real estate industry. The term REALTOR is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS and subscribes to its strict Code of Ethics.
Members who belong to any one local associations/boards of the state and territory associations of REALTORS are automatically eligible to become a NAR India Member to enhance their expertise and network with other professionals globally.
If you’re not a member of the local state association then becoming a member with NATIONAL ASSOCIATION OF REALTORS will not be possible and if you have joined with any local state association then one becomes eligible to take advantage of all the benefits of membership – including accessing the member ONLY parts of our site. Membership in a local association automatically extends your membership to the state association and national association. As a member, you are the voice for NAR – it is your association and it exists to help you increase your business opportunities.
A real estate agent is a REALTOR, when he or she becomes a member of the NATIONAL ASSOCIATION OF REALTORS through its local state association. The term “REALTOR” is a registered collective membership mark that identifies a real estate professional who is a member of his State Local Association which directly comes under the NATIONAL ASSOCIATION OF REALTORS and abides by its strict Code of Ethics and Standards of Practice.
In India, the NAR has its annual convention in the month of July, every year. Chennai Real Estate Agents Association has successfully completed its convention in the year July 2010 and has created a great awareness among its consumers in Chennai and whole of Tamil Nadu and has made everyone to understand the real value of working with REALTORS. From their voluntary adherence to a Code of Ethics to their incomparable knowledge of real estate processes, REALTORS are the experts of residential and commercial property transactions.
The Planning Commission of India defines “REAL ESTATE” as land, including the air above it and the ground below it, and any buildings or structures on it. It is also referred to as REALTY. In simple words property consisting of land and anything fixed, immovable or permanently attached on it, along with its appurtenances, buildings, fences, fixtures, roads, natural resources such as crops, minerals, or water; immovable property of this nature, surface rights which can be bought, leased, sold or transferred together or separately; an interest vested in this; (also) an item of real property or realty; (more generally) buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings, or housing.
It is impossible to know when the first real estate transaction took place. Perhaps someone offered his seat to someone else in exchange for a morsel of food. One can only speculate. There have been several ideas and technologies that have advanced the practice of real estate throughout the years.
Complex tools like mortgage securitization now have an outsized influence on our economy, but such tools are built out of some simple traditions that carry on to this day.
A title, in modern parlance, is a document that shows proof of ownership of a piece of real property. It confers on the owner a set of rights and responsibilities regarding the property. When you buy a house and the deal closes, the old owner gives you the title. In the distant past, kings owned entire countries by divine right. They conferred titles, such as lord or duke, on favoured nobles in exchange for their allegiance and military aid. These titles came with hereditary holdings of real property, land, manors, and the peasant labour that occurred therein. Titles have since transformed into legal documents, but the idea behind a title remains the same. Deeds are similar to titles, but may confer less than full ownership to its holder. These terms (title, deed) are thousands of years old. When you buy a piece of property, you become lord of the manor in more than just a manner of speaking.
A mortgage is a unique loan product, designed specifically for real estate. The loan is based on collateral represented by a piece of property. A mortgage is essentially a loan that must be paid back in a set number of payments in a set amount of time. For example, a 30-year mortgage might have 360 monthly payments, each one the same amount, from the first to the last. As each month passes, the amount of interest paid decreases while the amount of principal paid increases. There are adjustable rate mortgages and pre-payment plans, but the idea of the mortgage as a fixed agreement remains. Failure to meet even one of the agreed upon payments can give the lender the right to evict the borrower and foreclose on the property. Nowadays, it is the rare individual who can afford such a large investment without a mortgage.
Mortgages have been around since at least the 15th century, when the word was coined. The idea probably predates the word. Mortgages used to be reserved for nobility who would use the proceeds from their land to keep the land in their family. Mortgage lending began on a much wider scale in the middle of the 19th century, after the Industrial Revolution democratized wealth to a great degree. Lenders began offering mortgages, making land ownership much more widely available to the average person. In the United States, government guaranteed loans, and developers such as William Levitt made home ownership synonymous with prosperity following the Great Depression.
Securitization is the process by which lenders collect many loans into a single financial product. They then sell off percentages of this product to different buyers. This aggregation of risk (a single homeowner might default on a loan, but the other loans in the product support its value) seemed to insure against the possibility that loans were risky investments.
The opposite has proven to be the case, when low interest rates and loosened regulation led to a housing bubble in recent years, these securitized pools of loans threatened the world economy. Although securitization continues, increased regulation could decrease the possibility of bubbles in real estate markets in the future. It might not succeed. What does remain clear is that real estate continues to be the preferred investment for families to hold and increase their wealth. The future looks safe for real estate.
A career in real estate can be deeply satisfying as well as monetarily rewarding. There are many different job descriptions in the real estate industry. Many involve working outside of the standard office paradigm, helping people make the biggest decision of their lives and having the opportunity to grow professionally. The popularity of a career in real estate has not dimmed even as the real estate market in the United States and beyond has been buffeted by a series of unprecedented shocks. If you were thinking about obtaining a real estate degree, it would behove you to consider the benefits of a real estate career.
Real estate professionals are often attracted to the industry by the promise of prosperity. Real property is a huge investment mainly because it is expensive. When real property is sold, a commission of even a couple percent can be a sizable sum. The salaries are high when compared with other professional careers. It is also highly variable, as many brokers make substantially more in commissions than others, depending on their ambition, knowledge, and ability. Many real estate professionals are also able to take advantage of their own knowledge of markets to invest successfully in property. They can increase their earnings by flipping houses, buying property to manage, or managing property for others. The money in itself can be enough of a reason for some people to choose a career in real estate. There are others.
Real estate professionals enjoy status in the community. Their faces are printed on billboards, flyers for property, and at bus stops. Because they have helped people with their most important investments, they are trusted figures to many. Their relatively high earnings allow them to become benefactors in the community. They also act as teachers, advising first- time buyers on how to make a successful investment. All of these factors contribute to the importance of real estate workers in their neighbour hoods.
Being a broker is not a 9-to-5 job. Open houses are often held on weekends or evenings to allow working people the opportunity to attend. Appointments to view properties or show them to clients can be scheduled at almost any time. This lack of orthodoxy in scheduling could add up to greater freedom with one’s time. Selling a particular property sometimes takes a lot of work, but often takes very little depending on the buyers and sellers. This leaves real estate professionals a lot of flexibility and freedom to set their own pace, hours, and income. Some brokers are content to handle a few properties at a time while others hold classes to drum up extra business. The autonomy that this kind of work allows suits a certain temperament.
There is a lot of personal satisfaction to be gained through a real estate career. First and foremost, real estate is about helping people. Brokers are educators, lending their knowledge and expertise to clients. They often give classes on the home-buying process for first-time buyers. Buying a home can be a crucial event in a person’s life, a milestone like graduating from school or getting married. Helping people achieve this milestone is a fantastic reward in its own right. Real estate is also an intellectual challenge. Markets are volatile creatures that require skill and acumen to understand. Properties are about more than just numbers, however. Selling properties also requires aesthetic intelligence, also known as taste, to succeed. By using these skills, professionals can succeed in matching buyers with properties. A closing is one of the most satisfying accomplishments available to a broker. Satisfaction from a job well done could be the biggest advantage of them all.
This a multifaceted business, encompassing activities that range from the renovation and re- lease of existing buildings to the purchase of raw land and the sale of improved land or parcels to others. Developers are the coordinators of the activities, converting ideas on paper into real property.
Developers buy land, finance real estate deals, build or have builders build projects, create, imagine, control and orchestrate the process of development from the beginning to end. Developers usually take the greatest risk in the creation or renovation of real estate-and receive the greatest rewards. Typically, developers purchase a tract of land, determine the marketing of the property, develop the building program and design, obtain the necessary public approval and financing, build the structure, and lease, manage, and ultimately sell it. Developers work with many different counterparts along each step of this process, including architects, city planners, engineers, surveyors, inspectors, contractors, leasing agents and more.
|1 sq. inch||0.0069 sq. ft|
|1 sq. ft||144 Sq. Inches|
|1 sq. ft||0.1111 sq. yds|
|1 sq. yard||0.0002 acre|
|1 sq. chain||484 sq. yards (or) 0.1 acre|
|1 chain||66 feet (or) 4 rods (or) 100 links (or) 20.1168 mtrs|
|1 sq. meter||1.190 sq. yards|
|1 meters||3.280833 ft = 39.37 inches|
|1 kilo mtr||1000 mtrs.|
|1 mile||5280 ft.|
|1 sq. mile||27878400 Sq.ft = 640 Acres = 259 Hectares|
|1 Are||2.47 cents|
|1 Acre||0.0015 sq. mile|
|1 Acre||0.01 hectare|
|1 Acre||10 Sq. Chains|
|1 Acre||100 cents|
|1 Acre||4840 sq. yds = 160 sq. poles (or) perches (or) rods|
|1 Acre||4067.23 sq. mtr|
|1 Acre||43,560 sq. feet|
|1 Acre||18 grounds 436 sq. ft|
|1 Acre||40 Gunthas|
|1 Acre||0.405 hectare|
|1 Hectare||2.47 acres (or) 1,07,639.1 sq. ft|
|1 Kuzhi||144 Sq.ft.|
|3 Kuzhis||1 Cent|
|1 kaani/chawny||132 cents|
|1 Cent||435.36 sq. Ft|
|1 cent||40 sq. meter|
|1 Ground||5.5126 cents.|
|1 Ground||2400 sq. Ft|
|1 Guntha||121 sq. yds = 101.17 sq. mtr|
|1 Guntha||33 ft. x 33 ft. = 1089 sq. ft|
|1 Dhur||16.9 sq. meters|
|1 Link||7.92 inches = 0.66 ft = 0.2017 mtr.|
|1 Kutta||720 sq. ft|