The mortgage banker maintains relationships with a large group of financial institutions so that he or she can match each project with an appropriate lender. Mortgage banking companies are generally either privately owned or subsidiaries of bank holding companies. Real estate lending officers focus on lending funds for construction work. Permanent lenders provide long-term mortgage financing, which repays the construction lender, for major real estate projects when construction is complete and certain leasing goals have been reached. All major insurance companies have real estate lending departments.
Most property is sold or leased with the aid of a real estate agent who is employed by a broker.
In California, real estate agents and brokers must be licensed by the Department of Real Estate. Some of the agents and brokers duties include finding potential buyers and lessees for listed property, showing property, and negotiating sale or lease terms agreeable to both parties. Agents generally specialize in either residential or commercial properties. Commercial brokers work with corporations looking to buy or lease facilities as well as anyone wishing to buy investment properties. Commercial agents analyze property values, income-producing capabilities, and other market conditions to structure acceptable lease or purchase terms.