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The reason for this is that people or business houses that own property hire a real estate agent to buy or sell property for them or manage their properties for them or rent their properties for them. Like any other business, real estate business houses need a license to operate their business. Different countries have different laws for setting up and running a real estate business. Certain colleges teach real estate business as a special subject. People who run or work in the real estate business also maintain close links with mortgage companies and other financial institutions.