Field Guide to Terrorism and Real Estate
(Updated October 2008)
Due to the events of September 11th, it is important that REALTORS® are informed about terrorism and it's impact upon the real estate industry. This field guide discusses current issues pertaining to this topic, as well as proactive measures that can be taken to ensure that properties are safe and secure. (A. Siudzinski, Information Specialist)
Every Business Should Have an Emergency Plan
I. Plan To Stay In Business
Be informed
Have a continuity plan in place for the business
Have an emergency plan and emergency supplies
Have either an evacuation plan or a shelter-in-place plan
Make fire safety part of the plan
Prepare for medical emergencies
II. Talk To Your People
Involve co-workers
Practice the plan
Promote preparedness
III. Protect Your Investment
Invest in insurance coverage
Prepare for utility disruptions
Secure facilities, buildings, and plants
Assess building air protection
Improve cyber security
For further details please visit the U.S. Department of Homeland Security's website, www.Ready.gov.
Terrorism & the Real Estate Industry
Terrorism Insurance: Status of Efforts by Policyholders to Obtain Coverage, (United States Government Accountability Office, Sept. 2008).
Using design to defeat crime and terrorism, (Homeland Security Today, Sept. 30, 2008).
The Terrorism Risk Insurance Act: A Federal Backstop of Prevention, (www.buildings.com, Jan. 2008).
Fear of terrorism=higher vacancy rates in tall buildings?, (Foreign Policy, June 18, 2008).
A Comeback Story: Real Estate Rebounds After 9/11 As Companies See Manhattan As the Place to Be, Not to Fear, (Wall Street Journal, Sept. 2006). Q
Anti-Terrorism and US Real Estate Lending, (Real Estate Finance, Apr. 2005). Q
Architects: Enhancing Security and Aesthetics, (Realty Times, June 23, 2005).
9/11 reassessments of urban location costs and risks, (Real Estate Issues, Summer 2003). Q
Survey: Terrorism cost real estate $10.5 billion, (South Florida Business Journal, Sept. 10, 2002).
Terrorism & Property Management
Pricing terrorism: Insurers gauge risks, cost, (Wired, June 23, 2008).
Antiterrorism security measures for commercial buildings: inspection and appraisal guidelines, (Appraisal Journal, Fall 2007). Q
Leaving No Loopholes for Terrorist Financing: The Implementation of the USA Patriot Act in the Real Estate Field, (Vanderbilt Law Review, July 2006). Q
Landlords Seek to Balance Security With Access; Tenants Shun Inconvenience As Building Owners Grapple With Possibility of Terrorism, (Wall Street Journal, July 27, 2005). Q
Is your tenant a terrorist?, (REALTORS® Commercial Alliance Report, Fall 2004).
Maximum Security, (National Real Estate Investor, Aug. 2004). Q
The 9/11 impact on trophy and tall office properties, (Journal of Real Estate Portfolio Management, Summer 2003). Q
Useful Websites
Homeland Security Awareness Campaign, (http://www.usc.edu/schools/sppd/research/centers/create.html). "The Homeland Security Center for Risk and Economic Analysis of Terrorism Events (CREATE) is the first university center of excellence funded by the U.S. Department of Homeland Security. An interdisciplinary national research center based at the USC School of Policy, Planning, and Development and the USC Viterbi School of Engineering, the center comprises a team of experts from across the country. CREATE's mission is to improve the nation's security through the development and application of tools for assessing the risks and consequences of terrorism."
Federal Emergency Management Association (FEMA), (Fema.gov). - FEMA's mission is to lead the effort to prepare the nation for all hazards and effectively manage federal response and recovery efforts following any national incident.
U.S. Department of Homeland Security, (www.dhs.gov). - The Department of Homeland Security consolidates 22 agencies and 180,000 employees, unifying once-fragmented Federal functions in a single agency dedicated to protecting America from terrorism.
MIPT National Memorial Institute for the Prevention of Terrorism, (www.mipt.org). - The National Memorial Institute for the Prevention of Terrorism located in Oklahoma City is dedicated to preventing terrorism or mitigating its effects.
eBooks & Other Resources
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Before Disaster Strikes: Developing an Emergency Procedures Manual, (Chicago, IL: Institute of Real Estate Management, 2005). HC 62 In7bd
9/11 Commission Report, (New York, NY: W.W. Norton & Company, 2004). HV 6431 N21
Risk Management in the Post 9/11 world, (Chicago, IL: Institute of Real Estate Management, 2005). HC 6431 In7r
Preparing for terrorism: a property manager's guide, (Chicago, IL: Institute of Real Estate Management, 2002). HV 6431 In7p
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to Disaster Preparedness/Disaster Recovery
>> Have an idea for a new Field Guide? Click here to send us your suggestions!
The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
E-mail 
