The document discusses the mission and work of the International Real Property Foundation (IRPF). The IRPF aims to establish private real property markets worldwide which are essential for strong economies. It works with real estate associations to provide training, consensus building, and problem solving expertise. Some of its successes include increasing homeownership rates and the professionalization of real estate associations in Eastern Europe and former Soviet states. It recommends strengthening international real estate communities and bringing developing country associations up to international standards.

1. Norman D. Flynn Chairman, International Real Property Foundation 1990 President, National Association of Realtors ® Real Property Markets: The ‘real’ solution for economic development

2. MISSION OF IRPF IRPF is an independent non-profit, public purpose 501c(3) Foundation established to create viable, private real property markets worldwide which are essential for strong democracies and developing economies

3. National Association of REALTORS ® Formed in 1908 Code of Ethics in 1913 The Voice of Real Estate

4. Real Estate & The Economy Real Estate contribution to GDP Economic impact through construction Tax revenue Wealth-building benefits: the ladder of homeownership

5. Real Estate & The Community Community involvement Political involvement Stability & commitment

6. Why the Need for IRPF? General absence of secure property ownership Transition economies & complex property challenges Privatization of real estate and professional asset management Saves ‘recreating the wheel’

7. How Does IRPF Work? Reflects private and public sector goals Peer to peer professional relationships Experience adapted by country to meet world standards Practical and results oriented Demand driven

8. IRPF Results Change in rates of homeownership in EE/NIS transition economies Change in association numbers, as the emergence of a profession More attractive investment opportunity as stability increases

9. IRPF Strategies Association Management Training Consensus Building Roundtables Problem Solving Expertise

10. Association Building PFVA in 1993 = 15 groups; in 2002 = 27 PREF in 1995 = 6 groups; in 2002 = 24 "the Foundation programs gave us a vision, and saved us from thirty years of mistakes” – Grzegorz Dobrowolski

11. Consensus Building Bringing key players from government, business, and civil society together with US expertise

12. Problem Solving Advised on how to privatize real estate in Poland Helped advocate for change in Georgian licensing law

13. Case Study: Armenia Establish self-sustaining, market-oriented professional associations Develop an ethical and trained real estate profession committed to the protection of the public

14. Case Study: Armenia Assist in the creation of free, efficient, honest and equitable real estate markets anchored to private property rights

15. Recommendations Real estate practitioners are an essential intermediary for developing strong real estate markets in countries Strong real estate markets are the backbone of a country’s economy

16. Recommendations International real estate community can be strengthened through organizations like the International Consortium of Real Estate Associations (ICREA) Developing country associations must be brought up to international standard

17. Real Property Markets: The ‘real’ solution for economic development IRPF 430 N Michigan Avenue Chicago, IL 60611 (312) 329-8575 www.irpf.org