Friday, February 28, 2014

Words Mean a Lot

Wikipedia defines real estate as the following: Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; (also) an item of real property; (more generally) buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings or housing."[1]

Fair enough but I’ve always been a curious person and sometimes the words that we use every day don’t make a lot of sense to me. “Real estate” is a perfect example. I mean, why do we call it real estate? Certainly none of us are in the business of selling a “fake” estate to anyone and who would invest their hard earned money in anything that didn’t really exist?

Just the other day I was on my way to a closing and I found myself thinking about the day and what was ahead of me when I realized that I was going to what is called a “closing”. A closing? Why? While it is the end of an era for the seller and they are “closing” a chapter of their lives, what about the buyer? They are beginning a anew and buying a home is an exciting event and indeed they are “opening” a new chapter in their lives, right?

I also find it interesting that we deal with many different types of properties every day in our line of work and each of them has a name to describe the type of structure. What should we call a single family home if 2 different families live in it? What about a group of “town” homes that are located 30 miles away from the nearest city? Surely we all get excited when a new housing “development” is being built but why is it still called a development long after its completion? Everything new that occurs is a “development” right”? And what about a housing community that is 50 years old? Would that be called an “old” development? There’s no such thing!

My final thought during the drive to the closing was how lucky I truly was. I have the best job in the world and I never even have to worry about getting a speeding ticket if I’m late. I mean after all, I am an “agent” and what fellow officer would want to deal with that?

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