US firms raising the tempo in Latin America.

Top U.S. real estate firms, such as CB Richard Ellis, Cushman & Wakefield and Jones Lang LaSalle, are dragging Latin American real estate services out of the doldrums and up to a level of sophistication on par with the US's top markets.

In the era of globalization, where government imposed barriers to foreign entry no longer exist or are much diminished, multinational firms eager to tap Latin America's massive consumer base and/or harness its economical labor and manufacturing pools, have made U.S. style real estate services and practices not a luxury, but a necessity.

And the pioneers are helping make Latin America's commercial real estate the darling of the investment community, just like it has in the US.

"Everything has changed in Latin American brokering and real estate in the past five years and we have the US firms to thank," said Victor M. Lachica, a broker in Cushman & Wakefield's Mexico City office. "Standards in the US brokerages, such as compilation and analysis of various metrics, is something that is now standard here, too. Now that firms know they're going to get a high level of service, they're less inhibited to enter the Latin American market."

"It's gotten to the point where we're able to offer firms the same reports and presentations for their space that they would get for property they have anywhere in the us or in Europe. Everything has become standardized."

But while the kinds of value added services offered by CBRE, C&W and JLL might seem integral to any modern urban market, it took some time for these more comprehensive features to truly take root in Latin American cities.

"There was some resistance because there is increased cost for our service," said Leo Zaietz, cofounder and vice president of Jones Lang LaSalle's Buenos Aires office in Argentina.

"But with international firms such as Bank of America and AIG, who already have worked with Jones Lang LaSalle in the United State they come to us to handle their deals when they decide to come to South America. South American firms have come around to see the value of that kind of service now, so it's becoming much more of a standard."

To cater to their clients' international expansion needs, US real estate firms have had to embark on their own international expansion. CBRE, C&W and JLL all have expanded prolifically throughout Central and South America as well as Mexico and Puerto Rico. And while many of these areas are plagued by poverty and various other social issues, US real estate firms have enjoyed a successful fusion with talented local brokers who execute the companies' strategies with the same gusto and proficiency as their US counterparts.

"We had a lot of brokers in Latin America who were eager to adopt our techniques, especially employing market data and economic figures," said Jamie DeJong, senior managing director of CBRE's global corporate services department. "It's not like we came in and said that our way was the way things were going to be. Brokers saw the value of it and wanted to be able to offer that kind of service because there's a real demand for and that's why we've been able to change the way real estate is done." CBRE's resources were what recently allowed DeJong to locate some 150 spaces throughout Mexico for a client. In the past, such concerted, organized expansion while attaching a level of uniformity to the process, would be nearly impossible.

The import of international firms has created a demand for development in Latin America that in turn has enticed the likes of powerhouse Manhattan developer/owners such as Tishman Speyer Properties. With pros like that coming into town, Latin America is finally getting first-rate properties that offer world-class amenities and excellent floor plates. "Finally they're starting to build fantastic buildings throughout the region," DeJong said. "Beforehand you were really getting second rate towers that didn't exactly entice foreign firms.

Torre Mayor is a great example of how that's totally changed, it's a nearly 70-story class A building in Mexico City, one of the most fantastic buildings you'll see anywhere in the world."

Renowned for their safety and stability, Costa Rica and Chile are also emerging as hot new areas for entry. Hired by a firm looking to establish redundant call centers in either South America or South Africa DeJong lobbied for Costa Rica.

He said, "The workforce there is well educated and the country has enjoyed peace, total security and democracy for over a hundred years.

"It represents what all of Latin America could be one day be if globalization helps improve economies."