Real estate activities on a fee or contract basis
NACE v2.1 Code: M68.3
About real estate activities on a fee or contract basis
NACE code 68.3 covers real estate activities carried out on a fee or contract basis. This industry plays a crucial role in facilitating the efficient functioning of the broader real estate market. Real estate agents, brokers, and managers operating under this code provide essential services to both buyers and sellers, helping to match supply and demand and ensuring smooth transactions. As a key intermediary in the real estate ecosystem, this industry contributes significantly to economic activity and growth.
Production process
The main production techniques in this industry involve the provision of professional services related to real estate transactions. This includes activities such as the listing and marketing of properties, negotiating sales and rental agreements, conducting property valuations, and managing rental properties on behalf of owners. Real estate professionals leverage their expertise, market knowledge, and networking capabilities to connect buyers and sellers, as well as landlords and tenants.
Production inputs
The primary inputs required for this industry are skilled real estate professionals, such as agents, brokers, and property managers. These individuals must possess in-depth knowledge of the local real estate market, relevant laws and regulations, and effective negotiation and customer service skills. Additionally, this industry relies on access to up-to-date information on property listings, market trends, and financing options.
Production outputs
The main outputs of this industry are the successful facilitation of real estate transactions and the effective management of rental properties. The services provided by real estate professionals under NACE code 68.3 are consumed by a wide range of other industries, including 41.1 Development of building projects, 68.1 Buying and selling of own real estate, and 68.2 Renting and operating of own or leased real estate.
Revisions to 68.3
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 68.3. The most recent 1 version of this code (68.3) is in the NACE v2.1 system (this version):
This page shows the most recent version of code 68.3.
Older versions
Family tree for real estate activities on a fee or contract basis
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/68/3'>68.3: Real estate activities on a fee or contract basis</a>"]
B --> D["<a href='/classifications/nace/v2-1/M/68/1'>68.1: Real estate activities with own property and development of building projects</a>"]
B --> E["<a href='/classifications/nace/v2-1/M/68/2'>68.2: Rental and operating of own or leased real estate</a>"]
C --> F["<a href='/classifications/nace/v2-1/M/68/31'>68.31: Intermediation service activities for real estate activities</a>"]
C --> G["<a href='/classifications/nace/v2-1/M/68/32'>68.32: Other real estate activities on a fee or contract basis</a>"]
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