The Impact of Cultural Mistakes on International Real Estate Negotiations

  • October 21, 2006
  • • Written by: Mark Lee Levine, Ph.D., CRE, FRICS 

Fall 2006, Vol 31, No 2

Abstract: When conducting business, individuals often focus on how they think, not how the other party views the situation. This built-in bias is detrimental to international real estate transactions, and can lead to cultural blunders that have a negative impact on business relations. Those who fail to be cognizant of cultural differences and concerns can destroy what might have been a successful transaction. More important, the injured party—often the real estate consultant, investor or broker—typically is not aware of the blunder that spoiled relations and caused the transaction to fail.