Critical Real Estate Theory

By
Real Estate Broker/Owner with Beam & Branch Realty TREC #547752

Lately, there has been a lot of talk about the Critical Race Theory. While there are many thoughts regarding this theory, the purpose of this post is not to discuss that particular thought process but to take a look at what I call the Critical Real Estate Theory.

 

It is important to note that a "theory" is not a law. A theory is made up of various schools of thought regarding possible scenarios or a particular outcome. Therefore, a Critical Real Estate Theory is a school of thought regarding the cyclical real estate market.

 

What is really interesting is the fact that real estate as we know it today, is a relatively new field. Over my lifetime, I have witnessed the industry move from the days of mimeographed books of listings held in each office, to now up-to-the-minute real estate data in the palm of our hands.

 

Along with the technological advances, we have seen the advent of real estate teams, various types of brokerage models, and even the possibility of no-agent transactions.

 

My theory has to do with the fact that real estate is and always will be about people. With this in mind, new fandangled systems, technology, and fancy programs will never replace the human interaction that is needed in real estate. Therefore, a critical real estate theory is one that states, "real estate is the process of marketing, purchasing, selling, and managing real property transactions."

 

While great systems and technology will enable agents to do their jobs effectively, these can never replace the all-important aspect of human interaction. Being able to pick up the phone and reach an agent to discuss one's concerns, ideas, etc. should never become obsolete. Home-buying involves an emotional aspect. Due to this fact, people matter and always will.

 

So my theory is that no matter how far we advance, our field of real estate will always need to circle back to people, people, people. The Critial Real Estate Theory means those of us in this industry must not forget who we serve and to keep this point in the forefront of our minds.

Posted by

Beam & Branch Realty       

"Have you fully lived today?"

   Paula L. McDonald ~ REALTOR®, 

        Granbury, Texas 

 936-203-0279 Direct

Selling Hood County and surrounding areas!

PaulaMac59@gmail.com 

      CNE

Houzz      

 John Maxwell

Farm & Ranch

 


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Copyright 2021 Paula McDonald

Comments (11)

Shayne Stone
Champion Real Estate Group - Missouri City, TX
"Your Rock Solid Choice Realtor"

Great information!  Thanks for sharing and have a wonderful day!

May 03, 2021 08:12 PM
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Paula.

No doubt about it, this business is all about the interaction between two parties.  

May 04, 2021 12:40 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Paula. Like your line of thinking in the age of artificial intelligence. Enjoy your day 

May 04, 2021 04:48 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

I agree. This business is definitely all about people. Technology is just an aid (or a hindrance).

May 04, 2021 05:21 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

It is a people business, and as you mention gets very emotionally charged at times. Sometimes, being the calm in the storm, is one of the most important aspects of our job. 

May 04, 2021 07:08 AM
Paula McDonald, Ph.D.
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

Thank you all. I never want any of us to forget that the people we serve keeps this business alive.

May 04, 2021 07:40 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Paula,  Technology and the various tech tools used in business today are just that. Tools to use in and on the business. 

People are what make our business and keep us in the real estate business. 

It is all about the people and how we serve them. 

 

May 04, 2021 09:06 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Love your post about Critical Real Estate Theory Paula McDonald, Ph.D.. This is a people industry and always will be!

May 04, 2021 11:11 AM
Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Real estate is all about relationships and always has been and will continue to be for a very long time.

May 05, 2021 04:12 PM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Like you, I remember when the MLS was a book published once a week, and delivered to our office door on Saturday mornings.  There have been many changes in the 40 years I've been a Realtor.  Heck, I remember when a fax machine seemed like a gift from the gods.

May 05, 2021 06:42 PM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Paula, on having this blog FEATURED in the Old Farts Club group!  

May 05, 2021 06:43 PM