What does real estate mean?
We use many words in our daily speaking routine. However, we have no information about the origins of many of the words we use. Real estate is just one of those words. This expression, by definition, refers to the ownership of land, the place where it is located, and the structure built on this area.
Realis is a Latin term that expresses whether something “exists” or is “true.” The word real is used in Middle English to refer to immovable property (such as a house, building, or structure) rather than property such as clothing or furniture.
The term real estate has its origins in Latin, and even French when studied in more detail. This expression is derived from the Latin word status, which means condition, the French derivative is estat. The current English equivalent of this expression is property or the proceeds of an individual and his possessions.
The first appearance of the term real estate was in London. After the Great Fire of London in 1666, many properties in London were destroyed. This situation created a great need for housing in 1670. The first use of the term real estate coincides with this period. The expression real estate has continued to be used with the same meaning ever since.
How is the history of real estate?
Early in human history and for a long period thereafter, people defined their living spaces by moving with four-legged food sources. This led to people living a nomadic life for centuries. This is the situation reached by the people who lived in that period. until today; We can find cave drawings, materials such as tools made of stone and wood, and similar traces they left behind.
Over time, humanity gradually abandoned its hunter-gatherer lifestyle. This is known to have happened between 30,000 and 15,000 BC by researchers. This development has occurred regionally, not globally. Today, hunter-gatherer societies still exist in some parts of the world.
Although the transition to an agricultural society was a regional development at the time, it later became a way of life favored by the majority of humanity. With this development, people's need to have a home arose. Human history evolved from nomadic tribes and moved to sedentary life. This situation, along with the rise of private property and land ownership, formed the basis of today's estate system.
Agrarian society advanced rapidly. With the need to cultivate and manage fertile lands, a system of chieftaincy developed. In this system, the tribal leader can settle disputes, distribute land, and demand payment from all members of the tribe. Gradually, there was a transition to a more systematic lifestyle. Large forts were built, irrigation canals were built, high-yielding farming methods were developed, and temples were constructed.
Groups developing with the help of a hunter-gatherer system maintained their current system, but famine and poor living conditions prevented their populations from becoming overcrowded.
As the agricultural villages formed by settlers grew, prominent families continued to maintain their lineage and property. In this way, pharaohs, kings, and leaders of other feudal dynasties appeared on the stage of history.
This situation manifested itself in two different ways in most countries: rent and taxes. All people living within the borders of the kingdom had to pay taxes. In addition, people living in the kingdom had to fulfill many other responsibilities such as military service. The rulers who imposed these and other demands owned the land by inheritance and military force. Over time, the general level of wealth rose thanks to trade with other kingdoms, leading to the formation of a merchant class.
This led to the creation of shops and farmless homes, which were bought, sold and rented. Thus, merchants became the first to gain wealth and status among the people. Although the merchants did not own the land, they became the owners of the properties on it.
The concept of aristocracy disappeared over time, and was replaced by the concept of politics. The existing lands were divided into small plots that were sold on the free market. During this process, the people who had enough money to buy title deeds were either merchants or ancient aristocrats. As for the peasant segment, it has not made much progress in society among the agricultural tribes for 30,000 years.
People were divided into different categories such as middle class, blue collar, and white collar, according to their income status and occupations. With the changes happening around the world, people now have homes and cars.
It took a long time for the real estate industry to emerge and take its current form. The industry was not active in service as we know it until the early twentieth century. The sector took its present form at the end of the nineteenth century. In keeping with the work done by the National Association of Realtors, the National Association of Realtors was created. As a result, the real estate industry took its current form, undergoing a series of evolutionary changes that included sales and other details.