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The legal requirements for setting up a real estate business differ from country to country. The real estate business in taught as a special subject in certain colleges. People who run or work in the real estate business also maintain close links with mortgage companies and other financial institutions. As transfer of property ownership and renting of property requires certain legal agreements to be fulfilled, real estate businesses also have links with legal firms. Knowing the current market prices of property in the areas where a real estate agent operates is essential for them.