What we do and can do for a living Expanding the role of the real estate profession Sing-cheong Liu Evergreen Real Estate Consultant Ltd, Guangzhou, China Mark Wang Pearl River-Hang Cheong Information Technology Ltd, Guangzhou, China Bo-sin Tang The Hong Kong Polytechnic University, Hong Kong, China, and Siu-wai Wong Hong Kong Institute of Vocational Education (Morrison Hill), Hong Kong, China Abstract Purpose – This paper aims to present the authors’ opinions about the impacts of globalization on real estate profession and some essential changes of real estate business service. Design/methodology/approach – The arguments are based on the authors’ interpretation and first-hand experience of the contemporary business environment. A case study example to illustrate the changing requirements for professional real estate services in mainland China is provided. Findings – Economic globalization creates new opportunities in real estate market, product and service. It has the effect of blurring geographical and product boundaries. Real estate is increasingly integrated with the financial market. Global capital has transformed local property market practices. Real estate professionals have to re-orientate themselves so that they can move up the service value-ladder and avoid being marginalized under intense competition in a global market. Practical implications – Re-orientation of professional practices involves an expansion of one’s geographical and market knowledge beyond the home boundary. It also requires a dramatic change of mind-set, work attitude, social awareness and lifestyle. Originality/value – The paper proposes a competence model. Professionals should sell “competence”, which is built on “service proper” (knowledge and skills) and “service infrastructure” (technology and organization). Keywords Business support services, Working practices, Professional services, Globalization, China, Real estate Paper type Viewpoint I. Introduction Globalization is undeniably the most important force affecting the contemporary world. With improvement in communication technology, people, cities, companies and economies are now more connected to one another than ever before. We have witnessed unprecedented and relentless flows of goods, services, people, money and information The current issue and full text archive of this journal is available at www.emeraldinsight.com/1463-578X.htm This paper was presented at the World Valuation Congress XI held in Kuala Lumpur, Malaysia in May 2006. An earlier version of the paper was presented at the 12th Annual Conference of Pacific Rim Real Estate Society held in New Zealand in January 2006. JPIF 25,5 468 Journal of Property Investment & Finance Vol. 25 No. 5, 2007 pp. 468-481 q Emerald Group Publishing Limited 1463-578X DOI 10.1108/14635780710776675