The final Chapter looks into the future of real estate vocabulary and terminology based on the "Premifuture" word derivative of the "Premises Word Ecosystem." Numerous new words are introduced, in line with industry changes. The book [audiobook] is further summarized as follows:
The Premise for Premises: Thinking Inside the Real Estate Box (“P4P”) is an easy-to-read, booklet that updates industry terminology to reflect today’s operating environment. P4P is a handy reference manual for any real estate book collection, backpack, briefcase, or glove compartment.
Real estate terminology needs more consistency, including wording such as realty, property, owner, square foot, monthly rent, billboard sign, location, lease contract, and site. P4P disrupts thought leadership by “thinking inside the real estate box” as follows:
1. Redefine the wording real estate [or realty] property in more holistic terms, by introducing "premises" as the main theme for vocabulary usage.
2. Create a Premi-[ses] Word Ecosystem by integrating with the 3 P’s of Real Estate: People, Place, and Project. These words are the building blocks of any project endeavor.
3. Provide additional “premi-“ vocabulary for expanding and future-proofing the word ecosystem.
Technology, regulations, demographic shifts, and countless other factors dramatically impact realty premises usage. Grasping, instead of fearing change, leads to success. Real estate vocabulary needs to capture these changes. That’s the Premise of Premises!
Read on and learn more about the real estate premises word revolution!
Published by The Real Estate Capital Institute® www.reci.com.
Word development by the WordMfg.com.
All Rights Reserved, 2020.
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