Existing introductory to real estate principles textbooks emphasize four primary orientations in varying degrees:
- Residential real estate brokerage
- Legal treatment presented in separate, freestanding chapters
- Bias towards residential property
- Dominant orientation to local real estate rather than considering larger forces
The approach taken in Property Knowledge reflects:
- All professional functions, not just residential brokerage
- All property types — not just residential
- Addressing the subject from the buy-side — consumers of property goods and services — as well as the sell-side — providers of property goods and services, which orientation tends to be the dominant of most existing textbooks.
- Concentrating on the important role of real estate as a factor of production in business enterprises.
- The strategy perspective as contrasted to a transactions perspective, without much attention to the larger context and ongoing process considerations, context, and factors that influence transactions.
- Consideration of motivations for transaction plus negotiating tactics to get the best deal.
- Addressing legal topics in an integrated manner, emphasizing the importance of considering the forces that influence legal aspects and their implications.
- Considering how technology has shaped the evolution of the property discipline.
- Considering explicitly the implications of social networks — Facebook, Twitter, LinkedIn, etc. — which are appropriately viewed as both complements to and substitutes for tangible property.
- Emphasis on the important implications of business arrangements and compensation structures, as they influence participants’ motivations and therefore behavior.
Considering that working with a real estate broker is one of a number of ways properties can be sold — rather than concentrating exclusively on that form of transaction.