Start Date
09/17/2024
End Date
09/20/2024
Description
We live in a world of unprecedented uncertainty. So as real estate practitioners, having a “crystal ball” to anticipate the future is crucial to success. To cope with risks, we need to build solid investment strategies based on locally distinct factors. In this course, we will explore the real estate cycle in-depth – what its drivers are, the difference between physical, psychological and financial cycles, and the factors that drive other investors to enter or exit a particular market.
September 2024’s session will continue to focus on inflation - the most-discussed risk in recent years. We will dedicate a full session to understanding why inflation happens and which tools we can use to hedge our real estate investments from inflation.
We will explore how to take advantage of both expansions and recessions, how to prepare our projects for the next cycle, and how to anticipate and outmaneuver competitors. We will also learn how to assess, measure, and mitigate the risks when we enter a new market, either in our own country or abroad.
We will discuss externalities - factors unrelated to real estate that could affect our projects either in a negative or a positive way, including market transparency and corruption, governmental intervention, inflation, currency exchange risks, political and economic risks, interest rate fluctuations, and demographic changes. As real estate practitioners we need to understand this entire picture to design and implement the right project for a particular market.
In the second part of the program, we will address best practices for negotiating international deals, including different negotiation tactics and strategies, common mistakes, understanding your counterparty’s position and Best Alternative to a Negotiated Agreement (BATNA), and the unique challenges that cross-border negotiations pose. We will learn about the three layers of negotiation: rational, emotional, and identity. The participants will engage in several interactive negotiation exercises where they will be able to practice newly learned negotiation tools.
Location
Cambridge, MA
Distance Learning
No
Course Equivalency
No
Subjects
Business Practices / Contracts / HR
Development Trends
Health, Safety and Welfare
No
Hours
28.0
Learning Outcomes
Participants will learn how to protect investments – theirs and their clients - from risks while discussing: currency and inflation hedging; leverage; cross border portfolios; and the most efficient investment structures.
Understand how to create and contribute to a successful real estate investment strategic plan in local as well as international markets.
Learn the theory behind the real estate cycle in order to anticipate its behavior and make rational investment and design decisions.
Understand the different external factors that can affect real estate investments around the world.
Learn how to protect investments from risks while discussing inflation hedging techniques, currency hedging, leverage, cross-border portfolio, and the most efficient investment structures.
Understand negotiation dynamics to prepare yourself, your organization, or on behalf of your client to understand parties’ respective interests, claim and create value, and resolve differences to close a deal.
Create your own strategic plan to be ready when you are sitting down at the negotiation table.
Understand how different cultural environments can shape the design and development process of our projects.
Instructors
Fernando Levy Hara, Tobias Just
Course Codes
IRES IP
Provider
Harvard University Graduate School of Design - Executive Education