Dallas, Texas, April 22, 2010 – On April 9 at the Westin Galleria Hotel, The Real Estate Council (TREC) hosted a General Membership Meeting that featured a panel of local commercial real estate experts who have worked in the international arena investing, developing and building relationships and businesses. Moderated by TREC’s program chair Gene Sanger of Hunt Realty Investments, the panel included James C. Oberwetter, former U.S. Ambassador to Saudi Arabia and president of the Dallas Regional Chamber of Commerce; Todd Platt, CEO of Hillwood Development Corporation; and Joshua Brown, senior managing director of Eastdil Secured.
Oberwetter said, “Take the time to understand the customs and the nature of the place you want to do business. In diplomatic circles, just like business circles, people want to know what makes you tick.”
The panelists discussed their views on international relations, international development and international capital:
1. High barriers to entry. Establishing relationships is very timely and very difficult.
2. Tons of international money on the sidelines at this time. International investors are investing less in the U.S right now and waiting for CRE market to be a better investment.
3. Far East is the most accessible currently, due to their similar business models and customs.
4. Find the right partner that will allow you to transact business.
5. Business in different countries takes an exponentially greater amount of resources than local business.
Sanger summed up the discussions by saying, “This isn’t a smash and grab operation. You have to take the time and make the effort to building these relationships if you want to do business.”
About TREC:
Founded in 1990, The Real Estate Council (TREC) is a dynamic organization of approximately 1,600 commercial real estate professionals representing more than 500 companies in the Dallas area.
TREC pursues industry advocacy efforts on local and statewide public policy issues and works to improve the quality of life in Dallas with impact initiatives that address housing, education, economic development and the environment. Since 1990 TREC’s investments in the community have totaled $75 million in pro bono professional expertise and added asset value supported by $7 million in cash.
TREC is a leader of efforts shaping the future of Dallas including the original $1.5 million investment that spearheaded Woodall Rodgers Park, as well as $6.3 million in pro bono legal and title services and $250,000 in funding that helped create Dallas’ Urban Land Bank. Find out more at www.recouncil.com or by calling 214.692.3600.