James Finlay of Wells Fargo deconstructs energy/resource upgrade investment behavior issues within each property asset class to identify investment hurdles so energy efficiency upgrade risk can be more precisely understood. Owners, brokers, bankers, appraisers, underwriters and other real estate professionals have naturally formed around the seven primary property asset classes. These seven “tribes” of professionals have a shared risk culture particular to their respective market realities driving common behavior patterns throughout the ownership cycle, i.e. purchase, finance, operations, occupancy and (importantly) capital upgrades. Barriers to making energy/resource upgrades can be different for each tribe and eight primary investment hurdles are identified and their respective impacts discussed. Finlay gives examples on how this tribe/hurdle matrix has being used to pinpoint investment blockage and influence behavior.
To follow along with the video, download the presentation slides James Finlay: The Seven Tribes of real estate and their cultural bias in resource efficiency investment behavior.
Karen Ehrhardt-Martinez Contact/Bio
Climate, Mind and Behavior Leadership Council:
Dina Biscotti, UC Davis
Uwe Brandes, Urban Land Institute
Marilyn Cornelius, Stanford University
Jeff Domanski, Princeton University
Becky Ford, University of Otago, New Zealand
Ruth Greenspan-Bell, Woodrow Wilson Intl Center for Scholars
Lauren Kubiak, Natural Resources Defense Council
Skip Laitner, ACEEE
John McIlwain, Urban Land Institute
Nils Moe, Urban Sustainability Directors Network
Phil Payne, Gingko Residential
Roger Platt, USGBC
Jonathan Rose, Garrison Institute Board Member
Kurth Roth, Fraunhofer Institute
Jonathan Rowson, RSA
Rachael Shwom, Rutgers University
Jennifer Tabanico, Action Research
Jason Twill, Vulcan Inc.