Graduate Real Estate Program

Stanford Alexander Center for Excellence in Real Estate

Center dedicated to development and application of best practices in the real estate profession

Innovative Practice Award Program

The Innovative Practice Award Program establishes the Real Estate Center as a national leader in advancing the professional expertise in the real estate profession.
Ric Campo
Ric Campo, Chairman, Camden Realty Trust

Beginning 2014 the Center will debut a best practices initiative, collaboration between students, faculty and real estate professionals to develop and advance best professional practices within the industry. Each year, a new best practice area will be explored. The initiative includes research seminar, publication of an annual best practices paper, and sponsor a major conference and awards ceremony. The best practices initiative will serve as a catalyst in advancing expertise and promoting continuous improvement within the real estate profession. John Walsh said “creating great cities” is a guiding principle of the real estate program and reflects the industry’s commitment to serve the community through responsible development of the built environment.

The Innovative Practice Award Program

Objective of the Innovative Practice Award Program "Definition"

"Innovative Practice"

A "Real Estate Innovative Practice" is an innovative methodology that, when applied to development of a real estate project, or related process, service or operation, is found to improve results and advance achievement of the desired objective.

The methodology will typically utilize interdisciplinary skill, knowledge sharing, and collaborative efforts. Therefore, it implies the combination of people, projects, and services.

"Innovative Practice Program"

The Innovative Practice Program is an annual program, whereby the Graduate Real Estate Program identifies an innovative methodology and demonstrates its value as an improvement over conventional approaches.

The Innovative Practice is then promoted through publication of a report and presentation at a symposium to expand its application and thereby advance expertise in the real estate profession.

Structure of the Program

The Innovative Practice Award Program

The Innovative Practice Award Program is a collaborative effort between real estate professionals and students conducted in the academic year 2013-2014. It begins in fall semester 2013, and is concluded with publication of a report and presentation at a symposium in the summer semester 2014.

Governance

The Stanford Alexander Center for Excellence in Real Estate Committee of the Executive Advisory Board, (“Committee”) provides leadership and governance of the Initiative.

Task Force

A task force composed of 3-5 real estate professionals selected from the Committee, or as otherwise designated, and 3-5 selected real estate students will be organized as a team to conduct the Innovative Practice Award Program.

Coordination and Technical Services

A staff member of the Graduate Real Estate Program will serve as coordinator to manage the overall Innovative Practice process under the direction of the Task Force. A professional will be engaged to provide research and publication preparation services for the program.

Partner Professional Organization Panel

Sixteen real estate industry professional organizations are partners in the Graduate Real Estate Program and offer a full range of expertise in all sectors of the industry and profession. This expertise is key to assuring the Innovative Practice Award Program addresses the full scope of possible candidate Practice/Projects for consideration as Award recipients. Therefore, representatives of the Partner real estate professional organizations will be impaneled to offer suggestions for candidate “Practice/Projects” for consideration and assessment by the Task Force.