'Do your homework before going abroad' - masterclass hears

Don't be arrogant, respect the local culture and learn a few words of the language - these were just some of the tips for real estate professionals during the Masterclass in International Business at the Provada real estate conference in Amsterdam. The event was organised by PropertyEU in cooperation with the Urban Land Institute (ULI).

It is estimated that international 'miscommunication' costs the business community billions. While the impact has never been measured for the real estate sector, Joep Athmer of director of dredging company Van Oord Offshore said that matters considered irrelevant by the business traveller can be very important to the locals. Having spent 22 of his 30-year career to date outside the Netherlands, Athmer said one had to build a relationship with overseas contacts and not try to railroad them into doing business 'your way'.

Warning that people in Saudi Arabia, for example, consider themselves to be citizens of a country and don't associate themselves with the term 'Middle East', Athmer advised the 100-strong Masterclass audience to 'get acquainted with the company and the country'. The business traveller should be prepared for all kinds of questions and answers, he said, and it is always advisable to bring a local agent or contact to business meetings in foreign countries.

Jan Eijkemans of Rabo Bouwfonds MAB and Coert Zachariasse of a family-owned developer operating in France stressed that being arrogant is a big mistake. The visitor cannot expect the locals to abandon their way of doing deals to suit the foreigner. Over time a relationship of trust can develop in which both sides can add their expertise to the mix, they said.

Nico Veldhuis, formerly director of Dutch-based Multi Corporation's operations in foreign countries and now in charge of Multi's business in Turkey, agreed. But he noted that sacrificing one's own way of doing business while abroad was not an option either. He said Multi Corporation had gone into Turkey with an open mind and now the country is a very successful 'home market' for the mall builder.