This report provides a comprehensive overview of the real estate industry, encompassing its various facets. It begins by defining real estate and its different types, including commercial, residential, industrial, and land. The report then delves into the core activities within the industry, such as property development, buying, and selling, highlighting the roles of real estate agents and their responsibilities in assisting clients. It further explores various business ownership models, agency structures, and the services offered, including marketing, sales, and leasing. The report also discusses the roles and responsibilities of agency staff, emphasizing consumer protection, ethical practices, and workplace relations. Legislative liabilities and responsibilities are examined, including adherence to common law, equity law, and statutory law, with a focus on consumer protection and privacy. The report references key legislation, such as the Estate Agent Act, and outlines strategies for maintaining compliance. Furthermore, it addresses client service standards, risk management, and relevant penalties for non-compliance. The report concludes with an analysis of required skills and knowledge for success in the real estate industry, including communication, literacy, and numeracy skills.