A definition of the body of knowledge for real estate: reconceptualizing the discipline and delineating the jurisdictions of its practice

Abstract

Purpose

Following calls at different times in the United States for the definition of the body of knowledge (BOK) of real estate discipline, this briefing sets out to define the intellectual boundaries of real estate and applies the definitional concept to map out the scopes of real estate professions and real estate valuation vocation

Design/methodology/approach

The study essentially uses a literature review to draw out definitional issues that have been tackled before. It reviews calls that have been made in the past for a definition of the BOK of the real estate discipline. Further, it reviews past attempts at definition to reveal why they failed at the definition project.

Findings

The study found three key suggestions made in the past: that there is a need to define real estate’s BOK, that there is a need to use a “central structure” to define the BOK of real estate, and that definition of the BOK of real estate should rely on the activity nodes that constitute real estate. The study has relied on these three key ideas to define real estate as the science of value creation, distribution and sustenance in built space.

Practical implications

The definition of the BOK will help in curriculum development for real estate education. It will help faculties and departments to single out what fits into the real estate curriculum and what does not fit in.

Originality/value

A definition of the BOK for real estate: reconceptualizing the discipline and delineating jurisdictional boundaries of its practice.

Citation

K'Akumu, O.A. (2024), "A definition of the body of knowledge for real estate: reconceptualizing the discipline and delineating the jurisdictions of its practice", Journal of European Real Estate Research, Vol. 17 No. 3, pp. 475-491. https://doi.org/10.1108/JERER-06-2024-0047