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IRPF's Action Plan for First Million Financed by the US Agency for International Development

CHICAGO, (April 1, 2005). The International Real Property Foundation has just started implementing its 15-month work plan to accomplish program goals and activities of the Global Real Estate Market Development Program (GREMDP). Guided by the objectives of (a) increasing the transfer of United States Real Estate knowledge and technology to developing markets, (b) developing the capacity of local organizations to be self-sustainable and providers of added-value services to their members, and (c) strengthening linkages between real estate practitioners worldwide and US peers, IRPF will conduct market assessments, propose solution packages or interventions, and execute programs.

A pre-requisite for IRPF to conduct a real estate market assessment is having strong financial commitments from local Missions to implement proposed “solution packages.” Countries in which USAID Missions have initially expressed interest in real estate programming include: Egypt, Vietnam, and Afghanistan.

A pivotal element of IRPF’s strategy is building alliances and participating in consortia as a niche provider of real estate services. For example, IRPF has entered into an agreement with IMB Corporation for the provision of real estate consultative services under an awarded SEGIR Financial Sector Indefinite Quantity Contract (IQC). Other organizations IRPF has explored the possibility of working together under IQCs are: Bearing Point, PADCO, Development Alternatives Inc., and Financial Markets International. The second element of this strategy—partnering with “market makers” for the provision of formalized real property services, including banking associations, land titling associations, housing associations, credit bureaus, and legal associations—is been pursued and significant progress has been made with ATLA (American Land Title Association) and the ShoreBank.

The Global Real Market Development Program and IRPF plan to achieve key outputs and results, as follows:

Successful completion of three assessments per yearMissions will use the results by adopting one or more solution packages addressing the deficiencies articulated in the assessments
a. One to three associations are developed in each countrya. One or more organizations are formed and operate
b. Codes of Ethics and Standards of Practice are adopted in each organization with enforcement mechanismb. Rational and acceptable Codes and Standards are adopted. Associations enforce the Standards with training, hearings and resolutions
c. There is an increased number of programs, products, and services provided by the organizations c. There is a measurable increase in the number of programs, products and services and non-dues income increases annually to specified indicators
d. Training courses are delivered leading to practitioners reaching International Standards of Practiced. Three or four training courses are run annually with at least 20% of the membership completing the course
e. Ongoing linkages with real property specialists with related United States and international organizations are in placee. The associations have distinct, dedicated, and identifiable connections with U.S. and international counterparts
f. Organizations advocate for private property rights and improved regulation and legislationf. Organizations evaluate legislation and regulation. Members testify before ministries and government bodies on property rights issues. They sponsor one legislative initiative in 2nd and 3rd year

IRPF leadership and staff are pleased with the Foundation’s programming and are committed to assisting emerging real property markets to create a market environment in which homeownership may flourish.

For Additional Information Contact:

Sylvia Luchini

The International Real Property Foundation (IRPF) is an independent, nonprofit, public purpose 501c(3) Foundation with a mission to establish viable, private real property markets worldwide which are essential underpinnings to economic development, wealth accumulation for all and strong and viable democracies. The Foundation delivers technical expertise at the “grassroots” level to enable individuals and organizations to come together and remove impediments to property and housing ownership and use.

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