Breaking down the programs: Real Estate DevelopmentNews
The Homburg Institute’s DNA carries with it two separate, but equally important philosophies: creating a learning atmosphere that encourages practical, applicable real estate education, and to catering to the broadest spectrum of learners possible. Established professionals to up-and-coming real estate students, suites of courses to one-off advancement training. The more variety we can offer in format and topic, the more likely we are to serve the needs of a real estate community that’s really quite diverse.
On that note, we’re bringing breaking down the programs into the spotlight. A short series designed to do a deep dive into the content of the Homburg Institute’s programs, we’ll be looking at individual objectives and the overall impact of these courses when delivered in unison. This week’s subject is the Real Estate Development program, home to four core courses: The Real Estate Development Process, Project Management, Strategic Negotiation and Real Estate Finance.
The Real Estate Development Process
Vital to the auxiliary topics that make real estate development successful is a thorough understanding of the development process itself. Speaking in terms of foundational expertise, project management, strategic negotiation, finance and more are all secondary to understanding where to apply those skills relevant to stages in the development process.
Everything from initial overall objectives, land selection, development planning, market analysis, risk evaluation, and implementation is covered across the span of ten thorough lectures. When concluded, your understanding of the development process will add to the value proposition of the topics yet to come.
In a recent publication to the Homburg Institute’s news section, we looked at project management’s relationship with real estate, and how effective management can influence major items like cost, complexity, revenue, and timelines.
Our project management course is thorough in its evaluation of essential tools and techniques, assessing theories, concept and approaches with proven success rates and a relevance tied to the real estate industry. Communication, efficiency, an awareness of one’s resources and an aptitude for flexibility and creativity will yield success on projects of any scale. For the full course breakdown you can visit our listing page.
Business in general is a landscape that rewards those with formidable negotiation skills. More than a trait inherent in some, strategic negotiation can be both learned and refined. From a phased perspective, this course journeys through pre-negotiation all the way to reaching agreement. From forum analysis to international and cross-cultural, understanding the methods is as important as knowledge of the atmospheres that can change their practicality.
In many cases, complicated negotiation comes down to tactics, including coercive, win-win, and problem solving (as listed on our course page), as well as the rewards and drawbacks to each approach.
Similar to negotiation is the ubiquity of value backing financial expertise in the world of business - and real estate is no exception. Working in concert with negotiation and project management, financial expertise fully rounds out the real estate professional posturing to make the most of the development process.
Our course covers valuation, markets, tax and legal factors, financing, and assets. The overall goal is to master valuation techniques that are modern and powerful, and gain a firm grasp of the market mechanism that are constantly in motion while we work.