Second Day of EMERE

Dr. Bolman explored various leadership styles as well as providing tools for the students to identify their own personal leadership styles. I took the test as well and found it very revealing and constructive. Several videos were shown demonstrating different leadership styles and the attributes and applications of each one. It was a very insightful view from his recent research and book called, "Reframing the Organization"

After lunch Dr. Song presented detailed information about setting up a successful company by breaking it down step by step with processes that he found to be foolproof after 15 years of personal research he has done studying many kinds of companies. He instructed the groups to build a business plan for their real estate company including salaries, start up capital, responsibilities, and how big each of their firms will get using these principles.

The depth and detail of the information is truly powerful. The recognition of the nexus of human dynamics and economic realities are so very significant.

First day of Executive Master's in Entrepreneurial Real Estate

The welcome dinner last night at Benton's Restaurant was phenomenal with comments from Chancellor Morton and Dean Tan. Several of the faculty attended with all the students who enjoyed cocktails, food and stellar views of the Kansas City skyline at sunset.
How truly exciting it is to be involved in an inaugural initiative like this Executive Master's program to establish a higher level of excellence in real estate decision makers.
Today, after a brief orientation by Director Walt Clements, Dr. Michael Song led a discussion about what makes for a successful business venture and applied it to real estate.
The class developed a fool-proof model for success based on years of experience of thousands of business start ups. Dr. Song is the leading international researcher and lecturer on this subject.
Dr. Lee Bolman is scheduled after lunch to continue to build our valuable body of knowledge. His latest work is now published in over 10 countries. Wow, what an amazing experience.

A Great American Data Source

If you’re in a real estate-related field, you’re likely already using U.S. Census data regularly, at least indirectly. But with ongoing updates based on the 2010 Census and informative new tools available, it’s worthwhile to go directly to the source. The American Fact Finder is a good place to start for hoards of place-based demographic profiles, economic data, housing stats, and so on. Potential drill down into the data seems nearly endless.

Click the image below for an example of one new visualization tool with some local relevance.

Walt Takes Lease v Own Seminar On The Road

Walt Clements, Director of the Lewis White Real Estate Center, will be teaching seminars on Lease Versus Own analysis in several Midwestern cities at the end of July. Cities include St. Louis, Des Moines, and Omaha. Sorry Chicago, maybe next time.

Most classes provide at least 3 hours continuing education credit, and lunch is provided.

Register online at www.umkc.edu/whitecenter

LWREC Recieves Final Approval for Commercial Real Estate Masters Program

The Lewis White Real Estate Center received final approval from the Coordinating Board of Higher Education (CBHE) of the University of Missouri system last week to offer a Master’s of Science in Entrepreneurial Real Estate. It is the only Master’s Degree in Real Estate offered by an AACSB Accredited Institution within a 500 mile radius of Kansas City. The CBHE approval follows the decision made last month by the University of Missouri Board of Curators for this program to be offered in two formats. For those with a minimum of 5 years of experience in commercial real estate, there will be a 14 month Executive Format that includes instruction by 9 PhD’s (several from outside the area), 5 attorneys, 3 CCIM Instructors and a handful of local specialists in certain specialized areas. It will also include a week of international travel where they will be introduced to real estate professionals in other countries which will build their international networks while learning about Global Real Estate Issues. There will also be the traditional 2 year program offered. Both programs will be commencing in the fall of 2011.

Courses taught will include:

· Urban Planning

· Legal Contexts of Real Estate Decisions

· Market Analysis and Feasibility Studies

· Advance Negotiations for Commercial Real Estate with software

· Construction Means and Methods

· Taxation issue for Commercial Real Estate

· Corporate Real Estate

· Property Management

· Valuation Techniques and Practices

· Ethics and Values for Real Estate Decisions

· Global Real Estate which includes one week of international travel

· Advanced Real Estate Finance and Excel Modeling

· Real Estate Capital Markets

· Public and Private Finance

For more information, contact their website at www.umkc.edu/whitecenter.

President's Club Meets To Discuss CRE Issues

The Lewis White Real Estate Center at the Bloch School of Management of UMKC held its’ second annual President’s Club meeting at the home of the gracious Charles and Patty Garney. This informal gathering represents over 3,000 commercial real estate service providers in the Kansas City Metro area. This is the only venue where these 15 plus chapter presidents of national associations can gather socially and discuss issues of common interest within the area of commercial real estate. Commercial real estate is a multi-disciplinary field which is emphasized by the numbers of local chapters here is Kansas City. Each individual chapter ranges from 35 members to 250 members and covers the gamut of corporate real estate, architecture, retail real estate, Office real estate, Industrial real estate, commercial real estate lending, real estate education, women in real estate, property managers, facilities managers and other specialty areas. “We can simply do more for the greater good of our community by working together on some critical issues than we can by operating in our respective silos.” Says Walt Clements, the Director of the Lewis White Real Estate Center.

In Photo: Dan Musser, Lane Vance, Paul Neal, Anne Lemon, Linda Laurence, Jacki Older-Hefner, Jim Noe', Bill Early, Bob Mayer, Brian Votava, Shirley Harpool

LWREC To Offer Innovative Excel Real Estate Analysis Course

Coming up on June 23, 24 and 25 Dr. Jeffrey Engelstad, PhD visiting from the University of Denver will be teaching an advanced spreadsheet analysis course for the Lewis White Real Estate Center at the University of Missouri, Kansas City.

The coursework is geared towards seasoned real estate professionals already familiar with using TVM, IRR, and NPV in the analysis of real estate investments. The course delves further into the intricacies of modeling advanced real estate income streams into pro-formas and practical application of advances financial analysis. For more information or to register click here: Real Estate Financial Spreadsheet Analysis using Excel.

Not familiar with these concepts? Click here to find out more information on the graduate and undergraduate degree programs offered by the Lewis White Real Estate Center at UMKC.