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End of Chapter 1 Questions and Answers

End of Chapter 1 Questions and Answers - End of Chapter 1...

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End of Chapter 1 Questions and Answers 1. Is real estate a discipline? Look up the word “discipline” in the dictionary and see how well real estate fits. Can you name a discipline? Why is it hard to name a pure discipline within business? Answer: According to www.Dictionary.com 1) “Training expected to produce a specific character or pattern of behavior, especially training that produces moral or mental improvement.” 2) “A set of rules or methods, as those regulating the practice of a church or monastic order.” 3) “A branch of knowledge or teaching.” This last definition seems to imply real estate is a discipline until itself as it is often taught as a separate subject, yet it is not a discipline in the same sense as physics or chemistry where there are a set of unique rules that only apply to that field. Real estate requires the application of known truths or rules borrowed from economics or finance or law and so that is where the confusion comes into play. Real estate is an applied field but it is not a pure discipline.
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