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Area REALTORS®' Gift Will Establish Research Center at the U of M
For release: Sept. 16, 2005
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The Memphis Area Association of REALTORS® (MAAR) Education Foundation has awarded $300,000 over a four-year period to the Sparks Bureau of Business and Economic Research at the University of Memphis to establish a Center for Real Estate Research (CRER). The new Center will perform research and studies in the field of real estate, improve communication and the exchange of information regarding the real estate industry, and encourage and promote advanced study in the field of real estate, all with an emphasis on the Memphis area.

Funds from the MAAR Education Foundation's gift will be used to establish a graduate research assistant position in the Center, develop an annual research agenda, and support real estate-focused research of key faculty in the Fogelman College of Business and Economics.

"It is our intent that that the research undertaken with our financial support will be of the scope and purpose to reveal certain trends or opportunities that will enhance not only our profession, but the community and region we live in," said Timm Stubbs, 2005 Foundation president. "We hope the Center for Real Estate Research will become a perpetual resource for all REALTORS® and for the public."

The MAAR Foundation also offers undergraduate or graduate student tuition scholarships, which are awarded as the Mark Soward Scholarship at the U of M. The Foundation's Summer Internship Program enables college students in real estate-related fields to obtain hands-on experience. Additionally, the Foundation funds Welcome Home Memphis, a campaign produced in partnership with the City of Memphis to educate real estate professionals about assistance programs available for low-to-moderate income homebuyers.

Founded in 1910, MAAR is Tennessee's largest real estate trade association with approximately 4,700 members working in all facets of the real estate industry in Shelby, Fayette, Tipton, Hardeman, Hardin and McNairy counties. MAAR's focus is serving and representing real estate professionals, as well as providing real estate information to the general public.

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