The Real Estate Competency Course
Facility managers have found themselves in the center
of a new organizational function—managing the
company's real estate as an asset. As a facility manager,
you will be called upon to provide real estate expertise
whenever your company considers relocating, adding space
or disposing of a property. To do this, you need to
understand real estate principles and practices. Learn
how to plan the acquisition, development and disposal
processes; understand how to develop, implement and
maintain the real estate master plan; evaluate and recommend
actions on options and alternatives to the master plan;
and evaluate and recommend actions on development decisions.
Learning Objectives
Part 1: Understanding the Basics of Real Estate
This part addresses the basics of real estate including
formulating an inventory of real estate holdings, understanding
highest and best use studies and analysis, the six types
of present value pertaining to time value of money and
understanding basic depreciation and rules for capital
gain taxes. Objectives include:
- Understand highest and best use studies and analysis
- Calculate the six types of present values pertaining
to time value of money
- Calculate NPV and IRR when developing investment
strategies
- Understand real estate tax laws concerning depreciation
and capital gain taxes.
Part 2: Leasing, Purchasing, and Selling Real
Estate, and the Art of Negotiation
It is important to possess the knowledge to make the
lease versus buy decision, describe the process of acquisition,
due diligence, describe various lease types, associated
costs, and identify the key elements that are generally
negotiated in leases. The learner will understand the
26 parts of an agreement and how the lease and purchase
agreements are written. Identify the basic types of
personalities and understand how to benefit from them
during negotiations. Objectives include:
- Learn to make the lease versus buy decision.
- Describe acquiring new real estate using a systematic
process
- Understand the use of Due Diligence
- Describe the various lease types and sample lease
costs
- Identify the key elements that are generally negotiated
in leases
- Interpret and write lease and purchase agreements
- Identify 26 parts of a real estate purchase contract
- Describe the steps involved in disposing of real
estate
- Identify the basic types of personalities and how
to read personality to your advantage in negotiating
contracts
- Explain the principles of negotiating
Part 3: The Master Control Files and Support
Services
It is important to be able to identify the contents,
and create a real estate master control file. The learner
will also create a one-page lease brief and understand
how to accurately inventory real estate assets and track
performance data, which will aid in improving the overall
real estate process. The learner will determine the
expectations of stakeholders and understand how to organize
and respond to real estate support services requests.
Objectives include:
- Appreciate the importance of creating a real estate
master control file
- Identify the different types of real estate control
files and the contents of the files
- Create a one-page lease brief to be used in creating
a real estate control file
- Understand how to accurately inventory real estate
assets and track performance data
- Improve the quality of the overall real estate process
- Identify and maintain supporting financial and real
estate documentation for tax, assessment, and payment
records
- Obtain, monitor assess, and adjust property insurance
for each parcel of real estate
- Ensure that the database of the master real estate
control file is consistent with space measurements
- Determine expectations of stakeholders who will
request services
- Understand how to organize and respond to real estate
support services requests
Part 4: Real Estate Master Planning
It is important to understand why the master plan is
so important to the success of the organization. The
learner will identify stakeholders, both internal and
external that are involved in the real estate planning
process, understand real estate performance measures
and identify methods to determine changes in the market.
Objectives include:
- Identify what components go into a real estate master
plan
- Explain why a real estate master plan is so important
to the success of an organization.
- Identify at least two stakeholders both internal
and external that need to be involved in the real
estate master planning process
- Understand real estate performance measurements
- Identify methods to determine changes in the market
On-site
Registration dates.
View instructions for online version of course.
On-Site Course Length: 2 days
Cost: IFMA Members $495 (U.S.); Nonmembers $695 (U.S.)
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