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History

For those unfamiliar with RERC's rich and colorful history, it was in 1931 that James C. Downs, Jr., founded RERC as the nation’s first real estate firm specializing in both real estate research and analysis. Recognized as a pioneer in the art of real estate management and for monitoring key sections of the economy believed to influence the real estate industry, Downs conducted real estate market studies, analyses, valuations, and consultations for some of the nation’s most well-known industrialists and government agencies involved with post-Depression and World War II building. Through it all, Downs regarded the integrity and independence of RERC as the company’s most valued asset – enough so that he found himself resigning from his post as chief real estate consultant and appraiser for Jimmy Hoffa’s Teamsters’ Central States Pension Fund when Hoffa failed to follow RERC recommendations regarding the real estate assets in the fund (ref. “Hoffa and the Teamsters,” 1965, Ralph C. and Estelle Dinerstein James).

Over the years, RERC’s expertise and reputation as a leading real estate research and analysis firm continued to thrive. Dr. Anthony (Tony) Downs, Jim Downs’ son and chairman of RERC during most of the 1960s and much of the 1970s, increased the size of the firm to 14 regional offices throughout the U.S. and Canada, and continued its emphasis on research, valuation, and consulting. A number of still-in-demand critical studies were conducted during this time, including “The Cost of Sprawl,” which was published in 1974 and provided a detailed analysis of the costs associated with alternative land uses and development. Tony Downs, now a senior fellow at the Brookings Institute, created one of his longest-lasting legacies in 1973 when he began publishing the RERC Real Estate Report as an economic and real estate newsletter for business, government, and investors.

Over the years, RERC continued to display its proficiency in valuation and consulting, as well as real estate market research and analysis, producing Emerging Trends in Real Estate: 1979, what was to become the industry’s most widely recognized annual forecast report, as well as such landmark studies as “Urban Infill – Its Potential as a Development Strategy” and “The Economics of Revitalization: A Decision-making Guide for Local Officials” in 1981, and “The Evolution of Regional Shopping Centers” in 1987. Some of RERC’s research on the growth of the suburbs even became part of an exhibit in the Smithsonian National Museum of American History in 2003 (see “America on the Move,” currently on display in the Smithsonian).

During the late 1980s, RERC changed hands and leadership several times due to the profound changes taking place in the entire real estate industry. In 1991, Kenneth P. Riggs, Jr., became CEO of RERC. His focus on RERC’s research has become the foundation upon which RERC’s other real estate services have grown:

  • valuation
  • consulting
  • independent fiduciary services
  • litigation support
  • real estate technology solutions

Celebrating 75 years of "Counseling Your Success"

As we celebrate more than 75 years of service to the real estate industry, we are dedicated to “counseling your success” through:

Commitment

RERC’s leaders are committed to providing intelligent and independent real estate counsel for each client.

Knowledge

Real estate counseling draws upon a vast amount of knowledge gained through the mastery of many disciplines and expertise levels. RERC partners hold CRE designations, MAI designations, FRICS designations, as well as CFA® and CCIM designations, along with hands-on expertise needed to see your project through completion.

Experience

Over the years, RERC has worked with some of the most influential clients, most recognized properties, and most highly regarded organizations in the U.S. Whether it is with office, retail, industrial, apartment, hospitality, multi-use, or other property types, RERC’s broad-based experience is invaluable for those projects requiring independent counseling.