How does Property Knowledge differ from other principle textbooks in approaching the subject?

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Existing introductory to real estate principles textbooks emphasize four primary orientations in varying degrees:

  1. Residential real estate brokerage
  2. Legal treatment presented in separate, freestanding chapters
  3. Bias towards residential property
  4. Dominant orientation to local real estate rather than considering larger forces

The approach taken in Property Knowledge reflects:

  1. All professional functions, not just residential brokerage
  2. All property types — not just residential
  3. 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.
  4. Concentrating on the important role of real estate as a factor of production in business enterprises.
  5. 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.
  6. Consideration of motivations for transaction plus negotiating tactics to get the best deal.
  7. Addressing legal topics in an integrated manner, emphasizing the importance of considering the forces that influence legal aspects and their implications.
  8. Considering how technology has shaped the evolution of the property discipline.
  9. Considering explicitly the implications of social networks — Facebook, Twitter, LinkedIn, etc. — which are appropriately viewed as both complements to and substitutes for tangible property.
  10. 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.

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