Buying and selling of own real estate

NACE v2.1 Code: M68.11

About buying and selling of own real estate

NACE code 68.11 covers the buying and selling of own real estate. This industry plays a crucial role in the broader economy, facilitating the transfer of property ownership and enabling individuals and businesses to acquire the physical spaces they need to live, work, and operate. As a key component of the real estate sector, the buying and selling of own real estate is closely tied to broader trends in the housing market, commercial development, and overall economic activity.

Production process

The main production techniques in this industry involve the marketing, negotiation, and facilitation of real estate transactions. This includes activities such as listing properties for sale, showing properties to prospective buyers, negotiating sales contracts, and completing the legal and financial aspects of property transfers. Real estate professionals, such as real estate agents and brokers, play a central role in these processes, leveraging their expertise and networks to connect buyers and sellers.

Production inputs

The primary inputs required for the buying and selling of own real estate include the properties themselves, which can range from residential homes to commercial buildings and land. Real estate professionals also rely on various tools and technologies, such as property listing platforms, market analysis software, and legal and financial documentation, to support their work. Additionally, this industry requires access to a pool of potential buyers and sellers, as well as a functional legal and regulatory framework to govern real estate transactions.

Production outputs

The main output of the buying and selling of own real estate industry is the successful transfer of property ownership. This can involve the sale of 68.10 Buying and selling of own real estate, as well as the sale of 68.20 Renting and operating of own or leased real estate. The properties sold through this industry are then consumed by a wide range of other NACE codes, including 41.10 Development of building projects, 68.31 Real estate agencies, and 68.32 Management of real estate on a fee or contract basis.

Revisions to 68.11

Classification codes are adjusted frequently. The code may have been revised or replaced between system versions. The table below shows the history (newest to oldest) of the code 68.11. The most recent 1 version of this code (68.11) is in the NACE v2.1 system (this version):

This page shows the most recent version of code 68.11.

Family tree for buying and selling of own real estate

    graph LR
    A["<a href='/classifications/nace/v2-1/M'>M: REAL ESTATE ACTIVITIES</a>"]
A --> B["<a href='/classifications/nace/v2-1/M/68'>68: Real estate activities</a>"]
B --> C["<a href='/classifications/nace/v2-1/M/68/1'>68.1: Real estate activities with own property and development of building projects</a>"]
C --> D["<a href='/classifications/nace/v2-1/M/68/11'>68.11: Buying and selling of own real estate</a>"]

    C --> E["<a href='/classifications/nace/v2-1/M/68/12'>68.12: Development of building projects</a>"]

    

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