|
|
|
Published by the CIPS Network of the National Association of REALTORS®
Third Quarter 2005
A Global Real Estate Forumla for Success
By Carmela J. Ma, CIPS, CCIM
In twenty-first century America, we have no excuse for being ignorant of global forces, or of the underlying factors that control societies. Education, such as that offered by the National Association of REALTORS®’ Certified International Property Specialist (CIPS) program, examines the perspectives of global cultures, religions, and social idiosyncrasies. In order to bridge the gaps between peoples, these courses offer detailed information on how to succeed in the business of international real estate.
Increasingly, around the world, property ownership has become the avenue to success. As we go further into global real estate, our awareness of the forces that have dominated minds for centuries, and in some cases still hold individuals prisoner, becomes an essential test of where to invest our hard earned capital. Without a context in which to identify them, culture, religion, and elitism can be debilitating prisons for individual thought forever. Understanding can only be found in a world where all varieties are allowed to flourish in the free cultural, religious and political marketplaces. We must understand the world and understand ourselves in the world.
When I was introduced to it, I became immediately aware that NAR’s CIPS program was a wonderful adventure into enlightenment for people new to the world of global real estate. Writers and researchers examining the mores and manners of continents, countries, and cultures had already done fabulous work. Having traveled much of the world doing business, and already an instructor for the CCIM Institute (Certified Commercial Investment Member), I discovered, within the CIPS courses, a focus on the elements that make the world tick. My experiences were in sync with their conclusions—a rare occurrence in my life and travels.
Understanding and money are elements that go hand in hand. How to make a handshake or a bow a positive thing is a noble undertaking. Curricula like the CIPS Network courses raise our awareness without our having to wade through every one of the world's muddy trenches. This was revolutionary to me and I have been a strong supporter of the CIPS designation ever since I found it.
Teaching the courses in many parts of the world, I have always been fascinated to see the people respond to their profiles within the CIPS Institute material. Overall, they are pleased with the interpretation—it is sensitive and generous. Even more intriguing to witness is the world's fascination with the U.S. Our success formula seems a mystery to other societies—understandable in certain areas where underlying local forces maintain a national status quo.
Global or national financial institutions selling "pie-in-the-sky"—short-term profit—cause hesitance in my mind. Often, in the financial world, history repeats itself. If you are an investor, focus on reality-not the roulette wheel. "Pie-in-the sky" history is well known: If you play in a corrupt market, you are going to be burned.
There are nations in which I will not teach, let alone invest, because of what I know about their history and politics. This usually adds up to "putting in the fix and getting the dirt." In my travels and investments, I have mostly won. When I lost, it was because of corruption, or political, social or religious unrest.
In my view, from this chair, I advise you to focus on winning. Avoid those negative forces and elite groups who have plagued generations with their greed and lust for personal power. They are still out there, hoping to gather even more authority.
Here are the three "secrets" of investment to which I adhere for my clients and myself:
Secret #1: When government agencies or corporate fundraisers elicit your money with a promise of short-term windfalls, things are not proper—if you do invest you are feeding an often corrupt, elitist group.
Secret #2: Any country that does not acknowledge intellectual property rights does not deserve the time of day, let alone your investment. Avoid them.
Secret #3: Once you understand the cultural, political, and military elements that compete for "market share of world dominance," apply them to a global map. Audit all promises of financial heaven. Try to see through the smoke screen of culture, and the like, so you are better able to make the right steps toward a secure future.
The world is a complicated place. Negative forces are always fighting for personal, political, and financial supremacy. A truly global marketplace can only be achieved through understanding within each and every community, and by replacing prejudice and corruption with fair play in the global view. Those who blindly follow or refuse to recognize these risks are destined for shearing. They will be left by the roadside as the washing of hands marches on.
All parts of the world are looking for investors. I have and will continue to look for investment in any area that presents a community free of war, starvation, corruption, and mayhem. If any of these four elements are present, understand it is going to be a bad investment. Some are still being led in by political, cultural, or religious Judas Goats. By understanding the world, understanding ourselves as individuals, and relating to all elements of global societies, we might have a chance to solve these problems that threaten everyone's security, finances and goodwill. It is the global real estate formula for success.
If you haven't done it already, look into NAR's CIPS program—it is truly global.
More articles >> |
|
