01 · Before the internet
Pre-Internet
Assumptions shaped by physical access, scarce information and manual coordination.
- Property discovery depends on local agents, signs, newspapers and personal networks.
- Valuation relies heavily on comparable sales and local professional judgment.
- Buyers visit properties physically before making serious decisions.
- Transactions require many manual handoffs between brokers, lawyers, lenders and inspectors.
- Developers build first and learn about demand later.