Velma Zahirovic-Herbert

Professor | Martha and Robert Fogelman Family Chair in Sustainable Real Estate

FCBE 402
Office Hours
By Appointment
Velma Zahirovic-Herbert


Velma Zahirovic-Herbert is the Martha and Robert Fogelman Family Chair in Sustainable Real Estate and Professor of Real Estate at the University of Memphis. Her current research focuses on housing markets, neighborhood change and growth, and the applications of consumer behavior theories to real estate brokerage. She has published extensively in both real estate and urban economics journals on these and similar topics. She is a managing editor of the Journal of Housing Research and the editorial board member of the Journal of Real Estate Finance and Economics and the Journal of European Real Estate Research. Velma is an active member of the American Real Estate Society. She co-chairs the ARES women's caucus group, C-WI(RE)2, Connecting Women in Real Estate Research & Education. 


Select Research Publications

Bikmetova, N., Turnbull, G.K. & Zahirovic-Herbert, V. (2024). Does Bankruptcy Identify a Type Of Real Estate Agent or a Stress-Induced Change in Performance? Journal or Real Estate Finance and Economics, DOI: 10.1007/s11146-024-09984-1

Dey, D., Ritchey, N., Turnbull, G.K., Zahirovic-Herbert, V. (2023). Culture and Walkability: Ethnicity, Neighborhood Walkability, and House Price. Journal or Real Estate Finance and Economics, DOI: 10.1007/s11146-023-09963-y

Zahirovic-Herbert, V. & K. M. Gibler (2023). Residential Marketing Duration: Film Studios as Neighborhood Sales Accelerators. Journal of Real Estate Research, DOI: 10.1080/08965803.2023.2214469

Robert, J. G. & V. Zahirovic-Herbert (2023). The Influence of TIF Overlay Zoning on Residential Real Estate Prices. Journal of Housing Research, DOI: 10.1080/10527001.2023.2216874

Bikmetova, N., Turnbull, G. K., & Zahirovic‐Herbert, V. (2022). Ethnicity in housing markets: Buyers, sellers and agents. Real Estate Economics, 51, 196– 232.

Cheung, W., Guo, L., Zahirovic-Herbert, V., Kawaguchi, Y., & Unger, S. (2022). Effects of Ordered Position on Stock Liquidity: New Nonlinear Evidence from Japanese REITs. Journal of Real Estate Research, 1-25.

Zahirovic-Herbert, V., & Gibler, K. M. (2022). The effect of film production studios on housing prices in Atlanta, the Hollywood of the South. Urban Studies, 59(4), 771–788.

Zahirovic-Herbert, Velma (2021) Movie studios are good neighbors – if you like rising house prices. USApp – American Politics and Policy Blog (10 Sep 2021). Blog Entry.

  • American Real Estate Society best paper award in the Industrial Real Estate and Urban Design and Development category, 2021.

Zhou, X., Zahirovic-Herbert, V., & Gibler, K. M. (2021). Price impacts of signaling in Chinese residential land auctions. Journal of Housing and the Built Environment, 36, 1299–1321.

  • American Real Estate Practioner Research Award, 2019.

Zahirovic-Herbert, V., Turnbull, G. K., & Waller, B. D. (2021). Do home sellers know their market? Evidence from neighborhood sober-living houses. Applied Economics Letters, 28(10), 807-810.

Turnbull, G. K., & V. Zahirovic-Herbert, V. (2020). Private government, property rights, and uncertain neighborhood externalities: Evidence from gated communities. Urban Studies, 57(4), 711–730. 

Zahirovic-Herbert, V., Turnbull, G.K., & Waller, B.D., (2020) Properties that transact at or above listing price: Strategic pricing, better broker, or just dumb luck? Journal of Real Estate Finance and Economics,60 (1), 53-76.

  • Also printed as Geoffrey K. Turnbull, PhD, Velma Zahirovic-Herbert, PhD, and Bennie D. Waller, PhD. (2021) Why Do Houses Sell Above Listing Price? Keller Center Research Report, 14(4). 
  • American Real Estate Society best paper award in the Real Estate Brokerage/Agency category, 2018. 

Sophia T. Anong & Velma Zahirovic-Herbert (2020) Homeownership and high-cost alternative borrowing, Applied Economics Letters, 27:2, 118-121, DOI: 10.1080/13504851.2019.1610696

Velma Zahirovic-Herbert & Karen M. Gibler (2020) Neighbouring house transaction response to assisted living facilities and nursing homes, Housing Studies, 35:2, 195-213, DOI: 10.1080/02673037.2019.1594714

Zahirovic-Herbert, V. & Turnbull, G.K. (2019). Housing market microstructure: What is a competing house? Journal of Housing Research, 28(1): 1-17. 

Smith, P. and Zahirovic-Herbert, V. and Gibler, K. M, (2019). Building Social Capital at the Expense of Principals: Evidence from Residential Real Estate Agent Trading Networks. Journal of Real Estate Research. 41(1): 147-182. 

Turnbull, G.K., Waller, B.D., Withscey, W., & Zahirovic-Herbert, V (2019). This old house: Historical restoration as a neighborhood amenity. Land Economics. 95(2): 193-210.