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Going Global: Protecting Data and Assets

SAN DIEGO-With real estate no longer just a local business, insiders at the MBA/CREF conference say the global infusion to the industry forces businesses to understand privacy laws and cultural differences to make outsourcing work.

By Daniel D. Williams | Updated on February 06, 2007

SAN DIEGO-Is real estate still a local business? That’s one of the big questions being bandied about at the Mortgage Bankers Association’s annual conference. The general consensus says, yes, there will always be that need for “on-the-street” expertise, but the real estate industry has taken on a global flavor as well.

Ed Coco, a senior managing director for GE Real Estate, told GlobeSt.com at a lunch meeting yesterday that one of his company’s strengths is in its diversity. One aspect of that diversity is in its global business. Coco is national sales leader for North America lending for the company and says that 60% of the firm’s business is in its global markets. The opportunities are there, he said, and it also allows the company a hedge, should either US or global markets slow.

One issue for GE and other firms to watch out for is protecting data when dealing with global markets. A panel discussion yesterday titled “International, Offshoring and Other Trends,” focused on global data protection and the implications outsourcing has on privacy issues.

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