Tools commonly used in the Estates industry for day-to-day tasks and operations.

• Property management software
• Accounting software
• Landscaping equipment (e.g. lawn mowers, hedge trimmers)
• Cleaning supplies
• Security systems
• Pool maintenance equipment
• HVAC systems
• Irrigation systems
• Power tools (e.g. drills, saws)
• Hand tools (e.g. hammers, screwdrivers)
• Paint and painting supplies
• Lighting fixtures and bulbs
• Plumbing supplies
• Electrical supplies
• Fire safety equipment
• Pest control supplies
• Furniture and decor

Common products and services typical of NAICS Code 531311-12, illustrating the main business activities and contributions to the market.

• Luxury estates
• Historic estates
• Celebrity estates
• Private island estates
• Equestrian estates
• Waterfront estates
• Mountain estates
• Vineyard estates
• Gated community estates
• Golf course estates

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Certified Property Manager (CPM): A certification offered by the Institute of Real Estate Management (IREM) that recognizes expertise in property management. The certification requires a combination of education, experience, and passing an exam. The CPM certification is recognized internationally.
• Accredited Residential Manager (ARM): A certification offered by the Institute of Real Estate Management (IREM) that recognizes expertise in residential property management. The certification requires a combination of education, experience, and passing an exam.
• Certified Apartment Manager (CAM): A certification offered by the National Apartment Association (NAA) that recognizes expertise in apartment management. The certification requires a combination of education, experience, and passing an exam.
• Fair Housing Certification: A certification that demonstrates knowledge of fair housing laws and regulations. The certification is offered by various organizations, including the National Apartment Association (NAA) and the National Association of Residential Property Managers (NARPM).
• Real Estate License: A license required by all states to practice real estate. The requirements for obtaining a license vary by state but generally include completing a certain number of hours of pre-licensing education, passing a licensing exam, and completing continuing education courses.

A concise historical narrative of NAICS Code 531311-12 covering global milestones and recent developments within the United States.

• The Estates industry has a long and rich history dating back to ancient times. In ancient Rome, wealthy citizens owned large estates that were managed by slaves. During the Middle Ages, feudal lords owned vast estates that were worked by serfs. In the United States, the Estates industry began to take shape in the late 19th century when wealthy families began to purchase large tracts of land for recreational purposes. The industry continued to grow throughout the 20th century, with the development of gated communities, luxury resorts, and private clubs. In recent years, the industry has been impacted by the rise of vacation rental platforms like Airbnb and the increasing popularity of experiential travel. In the United States, the Estates industry has undergone significant changes in recent years. The 2008 financial crisis had a major impact on the industry, with many high-end properties going into foreclosure. However, the industry has since rebounded, with a growing number of wealthy individuals investing in luxury real estate. The industry has also been impacted by changing consumer preferences, with many buyers seeking out properties that offer unique experiences and amenities. In response, many Estates developers have begun to incorporate features like private golf courses, equestrian facilities, and wellness centers into their properties.

The anticipated future trajectory of the NAICS 531311-12 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Estates industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for luxury properties and the growing number of high net worth individuals. The industry is also expected to benefit from the increasing popularity of vacation homes and the trend towards sustainable and eco-friendly properties. However, the industry may face challenges due to the increasing competition from online platforms that offer short-term rentals and the impact of the COVID-19 pandemic on the travel and tourism industry.

Recent groundbreaking advancements and milestones in the Estates industry, reflecting notable innovations that have reshaped its landscape.

• Virtual Property Tours: With the COVID-19 pandemic limiting in-person property tours, many real estate companies have started offering virtual property tours to potential buyers and renters. This has allowed the Estates industry to continue operating during the pandemic and has made it easier for buyers and renters to view properties remotely.
• Smart Home Technology: Many luxury properties now come equipped with smart home technology, which allows homeowners to control various aspects of their home, such as lighting and temperature, through their smartphone or other devices. This technology has become increasingly popular in recent years and has helped to differentiate luxury properties from other types of properties.
• Sustainable Properties: There has been a growing trend towards sustainable and eco-friendly properties in recent years, with many buyers and renters looking for properties that are energy-efficient and environmentally friendly. The Estates industry has responded to this trend by building more sustainable properties and retrofitting existing properties to make them more eco-friendly.
• Co-Living Spaces: Co-living spaces, which are shared living spaces that offer private bedrooms and shared common areas, have become increasingly popular in recent years, particularly among millennials and Gen Z. The Estates industry has responded to this trend by building more co-living spaces and offering them as an alternative to traditional apartments and houses.
• Luxury Amenities: To differentiate themselves from other types of properties, many luxury properties now offer a wide range of amenities, such as private pools, home theaters, and personal chefs. These amenities have become increasingly important to high net worth individuals and have helped to drive demand for luxury properties.