VCU news

By Haley Tenore

Paying homage to his roots, the newest Fulbright Specialist from Virginia Commonwealth University hopes to use his real estate expertise to serve those living in disadvantaged communities.

School of Business professor Brent Smith, Ph.D., specializes in real estate finance and urban economics, and is the CoStar Group Endowed Chair in real estate analytics. He was selected recently as a specialist – the prestigious honor, part of the State Department’s larger Fulbright exchange program that includes Fulbright Scholars, which connects U.S. academics and professionals with institutions worldwide to share expertise, strengthen relationships, hone skills, gain international experience and learn about other cultures.

Fulbright Specialists remain on the program roster for three years. During their tenure, they are matched with projects from more than 150 countries, and the projects, designed by host institutions, can last from two to six weeks.

Robert Taylor, executive director of VCU’s Kornblau Real Estate Program within the School of Business, said Smith is more than just well-liked by his students.

“He’s rigorous with his classes, but also, I think students tend to appreciate that he brings a real-world perspective to classes,” Taylor said.

Smith studied economics as an undergraduate school at Indiana University-Purdue University Indianapolis, received an MBA from Notre Dame and then pursued dual Ph.D.s, in public finance and economic geography, from Indiana University. Before joining VCU, he spent a considerable portion of his career in the real estate industry.

“I was a real estate consultant for about 25 years as well, including my first five or 10 years as a professor. And all through my Ph.D. program, I had my own consulting firm where we did work across the Midwest and Great Lakes region,” Smith said.

He built on those successes and now shares his expertise in data-driven real estate research, but he remains deeply connected to his modest roots in housing.

“My wife and I started in very humble backgrounds. I grew up in a mobile home park with my single mom,” Smith said. “One day we just had a chat, and I told her that we wouldn’t be anywhere near where we are now if it wasn’t for the higher education system in the United States. There’s no place else on the planet we could have accomplished what we have.”

His latest success in being named a Fulbright Specialist –  “I was ecstatic about the opportunity. … It’s not something that happens for everybody,” he said – is an opportunity to give back to developing communities. As Smith explores options for his Fulbright project, he said his work will be framed by the experience of growing up in such an environment.

“I don’t approach those neighborhoods as just bare ground or opportunities for this or that – I always consider the humans that reside there,” Smith said. “It’s an important piece for me.”

Taylor said his colleague’s humility can make him an effective advocate and servant as a Fulbright Specialist.

“Brent is a very modest person. … It just speaks volumes that he didn’t want to make a big deal“ of the recent honor, Taylor said. “I think he sees the value in giving back to the community, and again, he’s just a very humble person.”