Download Norm`s presentation - International Real Property Foundation

World on FIRE
Real Estate Markets and Sustainable Development:
Property Rights and Access to Credit Around the World
April 29, 2008
Washington, DC
Mission
……create viable, private real estate
markets worldwide which are
essential for strong democracies and
developing economies.
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Improved Standards of Living
Improved Domiciles
Opportunities for Wealth Creation
Through Private Property Ownership
Property Rights &
Access to Credit for the Poor
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Formation of civil society
organizations, i.e. associations
Establishment of appraisal programs
create standards for real property
values
Partnerships with government
professionalize the real estate
industry
U.S. Real Estate Success
Shared with Emerging Markets
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Though 2007 was a challenging year for
housing with activity far below normal,
historically on average, one can anticipate
the contributions housing has to the GDP
in the USA.
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20% of GDP are accounted for by housing
1.5 million housing starts per year
5.3 million Existing Home Sales per year
900,000 New Home Sales per year
68% homeownership rate
Home equity is the largest source of wealth for
most Americans
U.S. Example – Real Estate’s
Affect on the Economy
Improving and facilitating the process and arrangements by
which real estate is owned, bought, leased, developed,
financed and transferred, encourages private investment,
generates jobs and economic growth and raises the
standard of living. US data follow:
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Job creation - U.S. Experience
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1,000 homes
2,448 jobs
$79.4 million wages
Existing sales - $132.5 Billion
Repairs - $34.5 Billion
Tax base creation
• 70% of local taxes from Real Property
• Income taxes - state and local
• Sales tax on goods and services
Critical Elements
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Laws
Systems
Standards of Practice
Know How
Conflict Resolution
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Information
Transparency
Market Place
Outcomes of IRPF Programs
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Professional Associations
Professional Standards
Brokers, Appraisers, Property
Managers, Executive Officers
Lobbying, Libraries, Licensing
Courses
Brokerage Management, Association Development,
Executive Officer Training, Appraisal, Property Management,
Marketing, MLS’s, Lobbying, Strategic Planning, Investment
Real Estate, etc. Attendees include private and public
sector players.
Outcomes of IRPF Programs
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75 Trade Associations
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20+ Countries
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150,000+ Real Estate Professionals
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Partnership with USAID
Crossroads
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Body of Knowledge Transferable
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Emerging Market Needs Universal
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Needs Remain particularly in Africa
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USAID Encouragement
A Redefined Scope
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International Versus Central Europe
Eastern European Real Property Foundation becomes
International Real Property Association
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All Impediments to Sound Markets
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Integrated Solutions
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USAID Market Assessments
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Strategic Relationships
Strategic Relationships
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Solution Focused
Related Industry Groups and Dedicated
Problem Solvers
Recent Examples:
Services Sector Education and Training Authority – South Africa
National Housing Bank - India
Pragma – Ukraine
Shore Bank - Azerbaijan
Appraisal Institute
Urban Land Institute (ULI)
Association of Real Estate License Laws Officials (ARELLO)
REALTOR Institutes, Societies and Councils: CCIM, IREM, CRB, CRS
IRPF’s Activities in South Africa
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Partnership with Services SETA, government of
Republic of So. Africa
Tremendous Need for training programs for
Previously Disadvantaged Individuals (PDI’s)
• CRB, CRS, IREM
• Lobbying and Advocacy
• Train the Trainer
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Strengthening of Institute of Estate Agents of
South Africa
IRPF’s Activities in Ukraine
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Successful Brokerage Training;
Licensing
Assistance with credit access leads to
additional mortgages
Progress in strengthening real
property association institutional
capacity and cooperation
IRPF’s Activities in Azerbaijan
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Brokerage Office Management and
Sales Training
Increase in number of mortgages
through development of Mortgage
Toolkits.
Questions?
Norman Flynn, President and CEO
IRPF
430 N. Michigan Ave.
Chicago, IL USA
(312) 329-8692
[email protected]