REAL ESTATE CENTER COUNCIL BECHMARKS AND 2009 PLAN
SCHOOL OF BUSINESS, UNIVERSITY OF CONNECTICUT
Missions
Center missions as established by Connecticut Statute include research, teaching and service to the State and service to the real estate industry.
Vision
Center vision is to provide high quality undergraduate and graduate academic programs ranked in the top 10 in the US and to produce real estate research ranked in the top 10 internationally. The Center has and will actively support the real estate professional community and State government, serving as a resource for strategic management of risks during cycles that include economic stress, decline and recovery.
Strategic Plan
Center strategic plan establishes five year goals consistent with its missions and vision. Most importantly these include:
- Maintain and improve research and educational rankings: currently ranked #1 in the world in research (out of 75 programs) and #8 in the US in education (out of 50 programs).
- Provide services to the Connecticut real estate industry and assist the Connecticut Real Estate Commission’s educational efforts.
- Produce and communicate financial and market information at all times, including periods of economic stress.
Click here for more detail on missions, vision and the strategic plan.
Benchmarking
Center benchmarking against peer real estate programs demonstrates that:
- The Center currently has 2 tenure track professors compared to an average of 3.8 among peers and 5 (authorized to hire a 6th) for the second ranked program (Wisconsin). Peer programs require at least three tenure track professors for critical mass.
- The Center has 1.3 FTE professional administrators compared to an average of 2.1 at peer programs. Two programs directly comparable to UConn’s (Wisconsin and Florida) have recently hired an additional professional administrator.
Click here for more detail on the benchmarking study.
Benefits
Center benefits to Connecticut, the University and the Business School include:
- Students apply to our programs from throughout the United States.
- The Center’s high ranking internationally in real estate research and in the top ten domestically in education enhances the reputation of the University, the Business School, and the Department of Finance.
- The value of the degree to current and future alumni is supported by high rankings.
- A resource for managing risks strategically, especially during periods of economic stress, decline and recovery in the general economy and the real estate sector.
- The Center organizes workshops and conferences on these issues.
- Real estate research grants regularly provided to other departments such as Finance, Accounting, Marketing, Statistics, Geography, and Economics.
Click here for more detail on Center benefits to the University.
Staffing Needs
Center staffing needs: hire a tenured professor and a full-time professional staff member. In order to meet its legislative mandate and retain a critical mass for teaching and research, the Center must obtain a replacement for the recently retired Center Director. Adequate staffing bridges the current gap and provides support to Connecticut during this time of financial and economic stress.
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