By Gnuschke, John E.
Business Perspectives , Vol. 18, No. 4
It is difficult to believe that two short years ago the University of Memphis was just beginning the process of establishing the Center for Real Estate Research (CRER) within the Sparks Bureau of Business and Economic Research. The CRER had remained in the concept stage for decades but had never become a reality because of the lack of financial support.
The Memphis Area Association of REALTORS[R] (MAAR) Education Foundation stepped forward to provide the financial resources required to establish the CRER. MAAR and the University of Memphis agreed to an initial three-year contract for $250,000, and the CRER was developed. In making the financial commitment for the Center, the vision of Education Foundation members, MAAR leaders, and MAAR members was realized for making the CRER a source for objective and reliable real estate research.
The process has just begun to pay dividends with the production of a tax comparison study. Currently, two additional research projects related to the impact of crime prevention programs and foreclosures on property values are being conducted. An infinite amount of additional research remains to be done, and the staff and faculty at the University of Memphis committed to producing both useful and state-of-the-profession reports that will benefit the members of MAAR and the community in general.
This edition of Business Perspectives highlights a small cross-section of the real estate research being conducted by the University of Memphis faculty across many disciplines and programs at the University. The growth of this research is a reflection of the important role that real estate plays in the social and economic fabric of the community. …