It has a great influence on the Australian economy. There are various units and services in this sector. These are residential, commercial building and other infrastructural constructions.The housing sector is a growing sector. It is attracting lots of new players and competitors. Real estate services require low investment. The entry of the barrier is low for consultancy services. The demand for own houses is increasing every day. In this competitive and profitable environment, every company operating has to provide the best services to its customers. It has to serve the customer in such a way that it will be a repeat and loyal customer forever and advocate the services of the company. To strengthen its position companies need to have a strong information management system and a good human resource capital.The report is prepared for the understanding of the business environment of real estate business. Real Estate business is a competitive business. It has to work in a regulatory framework and provide customers with the best services. There are three main factors of the Real Estate business.This is the group which creates demand in the market. There is various kind of requirement related to property. People need the property for housing or business purposes. They can buy properties according to their requirement or take it on a rental basis for a specific period of time. This group contacts good real estate service, provider.These are the supply side of the Real Estate industry. They offer their property on rental or sale for housing or business purposes. This group again register themselves with some real estate industry for their properties.Legal framework and regulatory bodies for various services are required to be consulted or informed about any new sale or purchase of the property. There are certain rules and regulations in this regard which need to be fulfilled. The regulatory and legal framework should be always taken care of for any deal.