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"Global DealMaking with the Global Real Estate Project"


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Dr. Mark Levine Photo
8/6/99 Interview with Dr. Mark Levine

Burns School of Real Estate, University of Denver
2020 South Race St, BA 216
Denver, CO 80208
Biography

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Introduction to the Global Real Estate Project

  1. Members of the Burns School of Real Estate, Daniels College of Business at the University of Denver recognized a void of collected information about international Real Estate.
  2. Eight to ten years ago, the web site was developed to provide one source of information relevant to Real Estate about various countries; coverage of about 85 countries is organized under 14 different sections for each country.
  3. Section headings include geography, history, people and culture; of particular interest to Realtors are sections 8 and 9, which deal with real property issues and trends.
  4. Information is kept as current as possible through the efforts of faculty and graduate students and through the support of such resources as Microsoft's Encarta CIA World Fact Book, Martindale Hubble and major Real Estate firms.
  5. Developing the contacts to acquire the information for the project took years; cooperation had to be enlisted from each of the firms and organizations that have contributed; they were approached if they logically had information that would be desirable to include.
Benefits for Doing Real Estate Business

  1. The site offers Realtors and their clients a convenient, single source of information; the standardized format facilitates the comparison of data.
  2. Understanding a country's history and culture prepares you to do business there.
  3. Practical information - such as whether metric or English measurements are used and the days and times business is conducted - also impacts your ability to do a transaction.
  4. Links to Real Estate professionals and organizations in the countries and to Real Estate firms and other US firms that do business in the various countries are provided; the site also links to Realtor.com.
How the Global Real Estate Project Functions

  1. Updating is a constant process; each country is updated at least once a year; those with major changes are given greater focus; new countries are periodically added.
  2. The site can now handle increased traffic; originally, traffic volume needed to be moderated to prevent the servers from being overwhelmed. 3
  3. . Access is free to the brokerage community and to the general public; funding has come primarily from the University of Denver, the National Association of Realtors and the Reaume Foundation.
  4. In addition to Real Estate professionals, large corporations and visitors from English-speaking countries outside the US are heavy users of the site; traffic is heavy from areas where interest in Real Estate investment is high, such as Europe, Japan and South Korea.
The Realtor's Need for Information Beyond Real Estate

  1. When doing business internationally, understanding the background of a country, particularly cultural issues is crucial; deals can be lost if clients are offended, even if the offense is unintentional.
  2. Subtle matters that can influence business relationships include style of dress and mannerisms; concepts about numbers and physical situation that are unfamiliar to US thought are important in Asian cultures.
  3. The Global International Project is useful for any business or vacation traveler as well as for Realtors; its international information is well-organized, updated and comprehensive, plus easy to access and free of charge.
Site Navigation

  1. The Global Real Estate Project web site is designed to be "user friendly" for people who are not technically oriented.
  2. Even complete novices can manage the simple, point-and-click layout with easy- to-understand menus; pictures are frequently used.
Favorite Resources on the Internet

  1. The top professional Real Estate organizations have good sites: CCIM, CREA, MAI, CPM, etc.
  2. For legal information, try Lexis Nexis and Westlaw.
Where Internet Connectivity is Taking Real Estate

  1. The days of Realtors having exclusive information are gone; years ago, 90% of the job was finding information, but now the information is readily available.
  2. The game has shifted from finding to analyzing information; the experts in Real Estate will be those who do a better job with analysis.
Contact Information for Dr. Mark Levine:

(v) 303-871-2142
(f) 303-871-2971
(e) mlevine@du.edu
(w)www.du.edu/~mlevine/


Real Estate Sites & Tools in this Briefing:

The Global Real Estate Project
www.ccim.com
www.car.org
www.appraisalinstitute.org
www.irem.org
www.lexis-nexis.com
www.westlaw.com