We as human beings define ourselves in the context of place. Commercial real estate reflects the location we work and breeds an environment where our memories are cultivated. We find comfort in feeling rooted somewhere, and the location in which we do business is often what shapes our happiness and our experiences in the workforce. Real estate becomes a mirror to reflect our principles and ideals for business life, making it much more than just a financial investment.
If you happen to research the origin of the word “real,” you’ll discover that it originated sometime between the early 14th and mid 15th century. The meaning comes from late middle English, as legal jargon meaning “relating to things, especially real property” and the Late Latin realis, meaning “actual.” “Genuine” is the definition that was recorded a bit later on in history.
“Estate,” interestingly, came from the Latin term status, meaning “state or condition, position, place.” The original, medieval use of the phrase “real estate” was to recognize property designated as “real” i.e. land and the infrastructure connected to this land. This “real property” differed from personal property like clothing and other possessions. An alternative theory is that “real” was an alteration of the word “royal”, ascribing much of the land in the middle ages to royal ownership.
Just as language has evolved alongside civilization, the meaning of “real estate” has been reinterpreted throughout the ages. Instead of wealthy medieval monarchs owning the land, these days it’s the government that does so. Yet an element of this older meaning that resonated with us was the notion of genuineness and a sort of authenticity. The fact that real estate goes beyond personal ownership holds meaning today, especially when it comes to commercial property management. Our real estate licenses are intended to serve the community at large, transcending just the individual.
Studying real estate throughout the past helps us navigate our business toward the future. Real estate is about way more than just facilitating financial transactions. It’s about genuineness and honesty in the business sphere, and providing all the resources we can to make our clients happy!
Read more about the etymology of “real estate” HERE.