Real Estate Science: The Rise of a New Scientific Field of Study

Who I amReal Estate Science:The Rise of a New Scientific Field of Study

Corey LeongExecutive DirectorGlobal Real Estate And Technology Consortium (GR8C)

REEA 2012 Annual Conference

Who I amSession Topic:

Real Estate Science:The Rise of a New Scientific Field of Study


Next: Session ObjectivesREEA 2012 Annual Conference

Who I amSession Objectives:

1. Explain major concepts of Real Estate Science (Re-Sci) and its key characteristics

2. Identify the reasons why Re-Sci is necessary as an academic and scientific field of study.

3. Identify potential use cases for Re-Sci and its future role in the Real Estate Industry.


Next: My current and past rolesREEA 2012 Annual Conference

Who I amMy current and past roles:

○ GR8C Executive Director, Researcher

○ UCF Graduate Student Nonprofit Mgmt and Computer Science

○ Former Florida RE Licensed Salesperson, Broker and Instructor


Next: The GR8CREEA 2012 Annual Conference

Who I amThe GR8C

○ Nonprofit Science Organization○ Located in Orlando, Florida○ Our Mission Statement

"To promote the education, operation, and use of the World Wide MLS(tm) to its fullest potential by developing protocols, specifications, and standards for the benefit of all people throughout the world."


Next: Before we beginREEA 2012 Annual Conference


Before we begin:

Research Paper : http://papers.coreyleong.org

Slides: http://slideshare.net/coreyleong


Next: Let's BeginREEA 2012 Annual Conference


Let's Begin >>>


Next: What is Real EstateScience?REEA 2012 Annual Conference

Who I am

What is Real Estate Science?


Next: The GR8CREEA 2012 Annual Conference

Who I amSimple Definition


Next: Real Estate Science = Property KnowledgeREEA 2012 Annual Conference

Who I am

Real Estate Science = Property Knowledge


Next: Origins of Real Estate DomainREEA 2012 Annual Conference

Who I amOrigins of Real Estate Domain


Next: The Real Estate Domain ExtendedREEA 2012 Annual Conference

Who I amThe Real Estate Domain Extended


Next: The RE Domain ProblemREEA 2012 Annual Conference

Who I amThe RE Domain Problem

● Because of the major influences of the Internet and WWW, the RE Industry is affected.

● RE Industry participants continue to adopt new internet and web technologies.

● RE traditional processes are affected and change.


Next: Effects of Internet and WWW VisuallyREEA 2012 Annual Conference

Who I amEffects of Internet and WWW Visually


Next: Old ways New waysREEA 2012 Annual Conference

Who I amOld ways New ways

Physical Maps Google MapsMailing Documents Email AttachmentsMLS Books Online MLSsSatellite Photos Google EarthNewspaper ads Online adsWork in Office Mobile Office


Next: RE Domain Missing Technical SubdomainREEA 2012 Annual Conference

Who I amRE Domain Missing Technical Subdomain


Next: Origins of the Internet and WWWREEA 2012 Annual Conference

Who I amOrigins of the Internet and WWW


Next: Origins of Computer Science (CS) DomainREEA 2012 Annual Conference

Who I amOrigins of Computer Science (CS) Domain


Next: CS DomainREEA 2012 Annual Conference

Who I amCS Domain


Next: Benefits connecting RE to CSREEA 2012 Annual Conference

Who I amBenefits connecting RE Domain to CS Domain

● The CS domain fills the technical void within the RE Domain.

● Possibilities to resolve current RE inefficiencies.

● Possibilities of new RE technologies.

● Other undiscovered possibilities?


Next: Creating the Re-Sci DomainREEA 2012 Annual Conference

Who I amCreating the Re-Sci Domain


Next: Are we finished defining Re-Sci?REEA 2012 Annual Conference

Who I amAre we finished defining Real Estate Science?Does this mean we are real estate scientists?


Next: Two more requirements are neededREEA 2012 Annual Conference

Courtesy of AMC

Who I amBesides connecting RE Domain and CS Domain, two more requirements are needed for Re-Sci.

1. The Scientific Method

2. Computer Simulation


Next:REEA 2012 Annual Conference

Who I amThe Scientific Method


Next: Benefits of the Scientific MethodREEA 2012 Annual Conference

Who I amBenefits of the Scientific Method:

● Open formation of hypotheses.

● Open testing and experimentation of hypotheses.

● Open community retesting and discussions.


Next: Re-Sci InfoModelREEA 2012 Annual Conference

Who I amRe-Sci InfoModel


Next: Re-Sci InfoModelREEA 2012 Annual Conference

Who I amRe-Sci InfoModel


Next: Computer SimulationREEA 2012 Annual Conference

Who I amComputer simulation


Next: Benefits of computer simulationREEA 2012 Annual Conference

Who I amBenefits of computer simulation

● Testing models objectively and abstractly.

● Replicating a phenomenon.

● Gaining better a understanding from results.


Next: Real Estate Science is comprised ofREEA 2012 Annual Conference

Who I amReal Estate Science is comprised of:

1) RE Domain + CS Domain

2) The Scientific Method

3) Computer Simulation


Next: Real Estate Science VisuallyREEA 2012 Annual Conference

Who I amReal Estate Science visually:


Next: Using Re-Sci, Identify RE PhenomenaREEA 2012 Annual Conference

Who I amUsing Re-Sci, Identify RE Phenomena

Potential Use Case Examples:

1. Request/Receive Listing Information

2. List and Spray Advertising

3. Decoupling Services


Next: Request/Receive Listing Info PhenomenonREEA 2012 Annual Conference

Who I amRequest/Receive Listing Info Phenomenon


Next: Request/Receive Listing Info HypothesisREEA 2012 Annual Conference

Who I amRequest/Receive Listing Info Phenomenon

Hypothesis:

"Is there a more efficient way to request and receive listing information over the Internet?"


Next: Request/Receive Listing Info ModelREEA 2012 Annual Conference

Who I amRequest/Reply Listing Info Model


Next: Request/Receive Listing Info ProtocolREEA 2012 Annual Conference

Who I amRequest/Receive Listing Info Protocol


Next: List and Spray PhenomenonREEA 2012 Annual Conference

Who I amList and Spray Phenomenon


Next: List and Spray HypothesisREEA 2012 Annual Conference

Who I amList and Spray Phenomenon

Hypothesis:

"Is there a more efficient way to syndicate listings?"


Next: List and Syndicate ModelREEA 2012 Annual Conference

Who I amList and Syndicate Model


Next: List and Syndicate ProtocolREEA 2012 Annual Conference

Who I amList and Syndicate Protocol


Next: Unnamed Property Listings PhenomenonREEA 2012 Annual Conference

Who I amUnnamed Property Listings Phenomenon


Next: Unnamed Property Listings HypothesisREEA 2012 Annual Conference


Hypothesis:

Can naming numbered listings aid in searching and advertising properties?

Next: Unnamed Property Listings ModelREEA 2012 Annual Conference




Next: Unnamed Property Listings ProtocolREEA 2012 Annual Conference



Next: Other PhenomenaREEA 2012 Annual Conference

Who I amOther Phenomena

1. Listing ads on Social Web (Realespam)

2. Advertisement content (FUD)

3. Web Services (M2M)


Next: In conclusionREEA 2012 Annual Conference

Who I amIn conclusion:

Internet and Web technologies continue to evolve and affect the RE Industry.

RE Industry participants ongoingly adopt these new technologies.

RE traditional processes are affected and change.




Real Estate Science is comprised of:

1. RE Domain + Computer Science Domain

2. The Scientific Method

3. Computing Simulation




Potential benefits of Re-Sci:

● Research and study RE phenomena

● Increase our knowledge of RE

● Create a public forum for discussing findings


Next: Call to Participate in Re-SciREEA 2012 Annual Conference

Who I amCall to Participate in Re-Sci

Facebook: http://facebook.com/realestatescience

Google+:http://goo.gl/M90Yj

ResearchGate:http://researchgate.net/topic/Real_Estate_Science/

Twitter: @rescience


Next: Thank you for your supportREEA 2012 Annual Conference


REEA 2012 Annual Conference

Thank you for your support!

For questions and comments:

twitter: @coreyleong, @gr8cemail: [email protected]: +1.407.584.7828