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» VISIT US ONLINE @ DSNEWS.COM 21 Protecting Your Properties. Protecting You. NFROnline.com • 800-639-2151 Nationwide Property Inspections and Preservation Inspections Preservation Insurance Loss Inspections REO Services Violation Management Utility Management Vacant Property Registrations Foreclosure Registrations Special Services DS News is the only publication in the country solely dedicated to providing default servicing professionals with news and content focused on their industry. SUBSCRIBE TO THE LEADER IN DEFAULT SERVICING NEWS SUBSCRIBE NOW! Call 214.525.6700 or connect with us online at DSNews.com. CHANGING PRIORITIES FOR REAL ESTATE PROFESSIONALS Real estate professionals need to have climate change on their mind according to Billy Grayson, Executive Director for the Urban Land Institute's Center for Sustainability and Economic Performance. On Bloomberg Environment, Grayson discussed how rising sea levels and increased risk of damage from natural disasters impacted housing. e Urban Land Institute's recent report, titled "Climate Risk and Real Estate Investment Decision-Making," states that "if investors, owners, and developers don't act to mitigate the risks that climate change poses to their portfolios, they could suffer significant losses." e report notes that investors are reviewing their assets before it's too late rather than waiting to see where the next disaster strikes. "e report points out that insurance policies can cover some damages, but investors can't rely solely on insurers for protection," Grayson said. "Since insurers reprice annually, often using historical data to do so, premiums are not always an effective way to assess future risks." Investors are learning that they need to protect their assets through more than insurance. is means smarter construction as well as partnerships with local officials to implement climate-proofing strategies on a larger scale. e Urban Land Institute offers several practices for investors, including analyzing climate risk in annual and quarterly reports, using big data to understand how weather changes will affect pricing and valuation, and working with insurers to learn how climate change will impact premiums and coverage. Additionally, investors should keep three important lessons in mind. "First, it makes good business sense to plan for resiliency. A severe weather event will occur sooner rather than later," Grayson said. "Second, frame the least vulnerable places as the most attractive spots for investment and development. Cities are already doing so with zoning policies and financial incentives. ird, the private sector plays a vital role in future-proofing our cities. Elected officials can't do it alone and public-private partnerships are critical."

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