Compare the activity, then the code
NAICS Code for Real Estate
“Real estate” describes several activities. First separate acting for buyers, sellers or renters from acting as the lessor of property; then check management, appraisal or another specific service.
2022 U.S. NAICS Census records checked
The activity changes the answer
Which work does the business primarily do?
Compare the service or product itself. The business name alone does not settle the classification.
Offices of Real Estate Agents and Brokers
The establishment acts as an agent or broker selling, buying or renting real estate for others.
Check the boundaryArranging a rental for an owner differs from acting as the lessor yourself or primarily managing the property. The word “rental” alone does not settle the role.
Read the official definitionLessors of Residential Buildings and Dwellings
The establishment acts as lessor of residential buildings or dwellings, such as homes or apartment buildings.
Check the boundaryThis includes owner-lessors and establishments renting property and subleasing it to others. They may manage the property themselves; managing for another owner is the 531311 comparison.
Read the official definitionLessors of Nonresidential Buildings (except Miniwarehouses)
The establishment acts as lessor of nonresidential buildings, except miniwarehouses and self-storage units.
Check the boundaryCommercial owner-lessors and sublessors can be included, as can full-service office space. Property management for others, self-storage and operating a warehouse are separate activities.
Read the official definitionTake the candidates into the Finder
Open the official records side by side and download a source-backed shortlist.
When to investigate another classification
These activity differences take the comparison beyond the starting candidates.
Managing residential real estate for others
531311 · Residential Property ManagersThis is a management-service activity, rather than residential ownership or subleasing. Use the property-management guide for the residential/nonresidential and staffed-support comparison.
Census recordManaging nonresidential real estate for others
531312 · Nonresidential Property ManagersOffice or retail property management for others has its own industry. Staffed facilities support is a separate boundary examined in the property-management guide.
Census recordRenting miniwarehouse or self-storage space
531130 · Lessors of Miniwarehouses and Self-Storage UnitsSelf-storage is explicitly excluded from the general nonresidential-lessor industry.
Census recordActing as lessor of other real-estate property
531190 · Lessors of Other Real Estate PropertyCompare this branch for real-estate property other than buildings, such as land or certain other property; it is not the default for every landlord.
Census recordEstimating the fair market value of real estate
531320 · Offices of Real Estate AppraisersAn appraisal service differs from brokerage, leasing and management.
Census recordAnother real-estate service after the named industries are excluded
531390 · Other Activities Related to Real EstateThe definition excludes lessors, agents and brokers, property managers and appraisers. Its examples include real-estate escrow agencies and listing services; title research and title-insurance work have further exclusions.
Census recordSubdividing and developing land
237210 · Land SubdivisionPreparing land for subsequent sale as building sites is a construction activity. Owning real estate does not turn land development into a lessor service.
Census recordFollow the decisive activity
Worked classification examples
Illustrative businesses for comparison, rather than individual filing advice.
A brokerage represents a homeowner in a sale
It sells real estate for another party, matching the agency or brokerage role.
Compare 531210 · Offices of Real Estate Agents and BrokersAn establishment owns apartments, leases them and handles their upkeep
The residential lessor may manage the property itself. Those management tasks do not by themselves change the primary lessor activity.
Compare 531110 · Lessors of Residential Buildings and DwellingsA business rents residential property and subleases it to tenants
Census includes residential sublessors; ownership is not required for this lessor role.
Compare 531110 · Lessors of Residential Buildings and DwellingsAn establishment leases office buildings to tenants
The buildings are nonresidential and are not miniwarehouses or self-storage units.
Compare 531120 · Lessors of Nonresidential Buildings (except Miniwarehouses)A specialist estimates a commercial property’s fair market value
The primary service is real-estate appraisal, rather than leasing or brokerage.
Compare 531320 · Offices of Real Estate AppraisersA service manages apartments on behalf of their owners
It manages residential property for others. Continue to the focused management guide rather than treating it as an owner-lessor.
Compare 531311 · Residential Property ManagersAn operator rents individual self-storage units
Self-storage has a separate lessor industry and is excluded from 531120.
Compare 531130 · Lessors of Miniwarehouses and Self-Storage UnitsRead the classification behind the comparison
Official definitions and hierarchy
The wording below is from the U.S. Census Bureau’s 2022 records. Activity explanations above are from BiznTools.
531210Offices of Real Estate Agents and Brokers
2022 U.S. NAICS Census records checked
This industry comprises establishments primarily engaged in acting as agents and/or brokers in one or more of the following: (1) selling real estate for others; (2) buying real estate for others; and (3) renting real estate for others.
Open 531210 in the Census referenceHierarchy, activity phrases and cross-references
Official hierarchy
- 53Real Estate and Rental and Leasing
- 531Real Estate
- 5312Offices of Real Estate Agents and Brokers
- 53121Offices of Real Estate Agents and Brokers
- 531210Offices of Real Estate Agents and Brokers
Selected official activity phrases
- Agencies, real estate
- Agents, real estate
- Auctioning real estate for others (i.e., agents, brokers)
- Brokerages, real estate
- Brokers' offices, real estate
- Buyers' agents, real estate, offices
- Buying agencies, real estate
- Buying real estate for others (i.e., agents, brokers)
531110Lessors of Residential Buildings and Dwellings
2022 U.S. NAICS Census records checked
This industry comprises establishments primarily engaged in acting as lessors of buildings used as residences or dwellings, such as single-family homes, apartment buildings, and town homes. Included in this industry are owner-lessors and establishments renting real estate and then acting as lessors in subleasing it to others. The establishments in this industry may manage the property themselves or have another establishment manage it for them.
Open 531110 in the Census referenceHierarchy, activity phrases and cross-references
Official hierarchy
- 53Real Estate and Rental and Leasing
- 531Real Estate
- 5311Lessors of Real Estate
- 53111Lessors of Residential Buildings and Dwellings
- 531110Lessors of Residential Buildings and Dwellings
Selected official activity phrases
- Apartment building rental or leasing
- Apartment hotel rental or leasing
- Apartment rental or leasing
- Building, apartment, rental or leasing
- Building, residential, rental or leasing
- Cottage rental or leasing
- Duplex houses (i.e., single-family) rental or leasing
- Dwelling rental or leasing
Official cross-references
- Managing residential real estate for others--are classified in U.S. Industry 531311, Residential Property Managers; and
- Providing short-term lodging in facilities, such as hotels, motels, casino hotels, and bed-and-breakfast inns--are classified in Industry Group 7211, Traveler Accommodation.
531120Lessors of Nonresidential Buildings (except Miniwarehouses)
2022 U.S. NAICS Census records checked
This industry comprises establishments primarily engaged in acting as lessors of buildings (except miniwarehouses and self-storage units) that are not used as residences or dwellings. Included in this industry are: (1) owner-lessors of nonresidential buildings; (2) establishments renting real estate and then acting as lessors in subleasing it to others; and (3) establishments providing full service office space, whether on a lease or service contract basis. The establishments in this industry may manage the property themselves or have another establishment manage it for them.
Open 531120 in the Census referenceHierarchy, activity phrases and cross-references
Official hierarchy
- 53Real Estate and Rental and Leasing
- 531Real Estate
- 5311Lessors of Real Estate
- 53112Lessors of Nonresidential Buildings (except Miniwarehouses)
- 531120Lessors of Nonresidential Buildings (except Miniwarehouses)
Selected official activity phrases
- Amusement facility rental or leasing
- Arena, no promotion of events, rental or leasing
- Auditorium rental or leasing
- Bank building rental or leasing
- Banquet hall rental or leasing
- Building, nonresidential (except miniwarehouse), rental or leasing
- Commercial building rental or leasing
- Concert hall, no promotion of events, rental or leasing
Official cross-references
- Acting as lessors of buildings used as residences or dwellings--are classified in Industry 531110, Lessors of Residential Buildings and Dwellings;
- Renting or leasing space for self-storage--are classified in Industry 531130, Lessors of Miniwarehouses and Self-Storage Units;
- Managing nonresidential real estate for others--are classified in U.S. Industry 531312, Nonresidential Property Managers;
- Providing a range of office support services, such as mailbox rental, other postal and mailing (except direct mail advertising) services, document copying services, facsimile services, word processing services or on-site personal computer rental, that are not providing office space--are classified in Industry 56143, Business Service Centers;
- Managing and operating arenas, stadiums, theaters, or other related facilities and promoting and organizing performing arts productions, sports events, and similar events at those facilities--are classified in Industry 711310, Promoters of Performing Arts, Sports, and Similar Events with Facilities;
- Operating public and contract warehousing and storage facilities (except self-storage)--are classified in Industry Group 4931, Warehousing and Storage; and
- Providing colocation services (i.e., rental of server and networking space in data centers)--are classified in Industry 518210, Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services.
Check the original source files
Definitions, titles, activity phrases and exclusions come from the same 2022 U.S. edition.