Annotation

The work defines the notion of real estate activities, describes the duties of a real estate agent, his/her advantages and disadvantages in entrepreneurship activity. The absent or improper legal base for performance of real estate agencies in Ukraine causes the necessity to determine their status and level of responsibility before the clients referring to the current Law of Ukraine “On real estate activities”.

In the world practice, a real estate agency is defined as an organization (enterprise, institution), which provides intermediary services while completing transactions at the real estate market. A person, working at a real estate agency, is called a real estate agent or realtor.

The research describes the services, provided by professional realtors, namely informational (supply of a client with the information about all possible proposals at the market of real estate, demonstration of objects, agreement with notary, supply of transportation and room for negotiations), consultation (about all juridical, technical and economic aspects, related with real estate objects and advisory for clients), intermediary transactions and trading activity.

The author gives characteristics of a real estate agent as a specialist, who is well-educated in the juridical field, legal support of deals on real estate, architecture, construction, evaluation of technical conditions of real estate objects, property rights and business. A real estate agent is competent about management of real estate, fundamentals of accounting and taxation, and has some knowledge about building materials, marketing of real estate market, and English.

Along with real estate (business) activities, there is also property development, which takes and important position at the market of real estate objects. Property development as a form of business activity is manifested in the investment process of creation of real estate objects, including choice of participants, projecting, construction, financing, management, etc.

The article highlights importance of property development as a qualitative transformation of real estate, securing growth of its price, and as professional activity on organization and management of property development processes, which include some stages of development.