SOCIETY OF TEXAS A&M REAL ESTATE PROFESSIONALS
Annual Business Meeting
Boerne, Texas
July 24, 1998
Approximately 31 members, six students, and one incoming student were present.
The meeting was called to order by President Richard Furr. The minutes from the 1997 Annual Business
Meeting were read by Terri Callery and approved as read.
The treasurer's report was submitted by Kirk King. He stated the STAMREP books are now kept on a
fiscal year basis September 1 through August 31. The balance as of June 30, 1998, is $26,751.62.
Mr. King reminded everyone we are experiencing an increase in income at present from annual dues and the
Annual Business Meeting, but expenses have not been paid, so the true balance can be expected to remain
approximately the same. This year the taxes were prepared in-house and reviewed by Mr. Charlie Plum.
Dr. Malcolm Richards announced changes at the Real Estate Center. He stated Mr. Wendell Fuqua is not
producing videos for the Center. Dr. Shirley Bovey moved to the Center for Retailing Studies and was
replaced by Jennifer Hofmann. Jennifer Evans will be a research assistant to Dr. Mark Dotzour who is
now the Chief Economist and Director of Research. Harold Hunt is now with the Center full-time.
Dr. Richards stated the Center is now on-line. New information is sent out to the list server subscribers
as soon as it's received. The Real Estate Center home page is averaging approximately 160,000 hits per
month. One of the recent studies conducted by the Center was whether impact fees contribute to a
community's development. Dr. Charles Gilliland is coordinating courses for the tax assessor groups in
Texas. Videos are being developed with the Real Estate Commission on Paragraph 71 (option clause) on the
contract form and careers. Dr. Richards reminded everyone about the value of the MLERE-JOBS list
server. Finally, he stated the Center current has 18 full-time employees and 15 student workers (half are
graduate students).
Dr. Etter gave a briefing on the LERE program. He stated there are fourteen students currently in the
program and on internships. Thirteen of those students are returning. There will be 12 new students this
fall. He stated the backgrounds of the incoming students are varied and includes students from Business,
Economics, Rangeland Ecology and Management, Agricultural Economics, and Zoology. He introduced the
current students and incoming students who were present at the meeting. He stated eight students will
graduate in December and he's had several inquiries for the spring, so he's expecting a good class again.
He thanked STAMREP for its support of the program including the mentoring program and field trips. Dr.
Etter stated that of the 14 scholarships given to graduate students by the Appraisal Institute in 1997,
six of them went to LERE students. He also noted that when attending the Appraisal Institute's Masters
subcommittee meetings, our students are the most successful of all real estate programs in the country.
Dr. Etter stated the recent Tierra Grande article on the LERE program has generated tremendous interest
in the program. The most recent issue of Tierra Grande contains four articles co-authored by Dr. Mark
Dotzour and LERE students. Finally, Dr. Etter expressed his appreciation for the support of the College
of Business, the Department of Finance, and the Real Estate Center.
Jake Evans, president of the Land Economics and Real Estate Association (LEREA), the student group,
thanked STAMREP for their support financially and through the mentoring program and field trips. He
listed the companies for whom the recent graduates are now working.
Ms. Caesar announced the election results:
| Vice President - | Carla Brooks |
| Secretary - | Dr. Wayne Etter / Terri Callery |
| Treasurer - | Kirk King |
| Region 2 Director - | Wendell Wood |
| Region 4 Director - | Tom Goen |
| Region 5 Director - | John Schmedemann |
Mr. Furr thanked outgoing Region 2 Director Mark Pritchard for his year of service to STAMREP.
Ronnie Singleton announced the site for the 1999 Annual Business Meeting is Tapatio Springs in Boerne,
Texas. The date will be announced in the near future.
Mr. Furr announced the following new business:
Mr. Furr thanked the following for their help in the past year Terri Callery, Dr. Wayne Etter,
Victor Grant, Carrie Caesar, and the STAMREP board members.
Victor Grant announced the Fall Awards Banquet will be held in October and a firm date will be announced
soon. He stated we are looking at holding the banquet on a non-football weekend. Mr. Grant presented
a President's Plaque to Richard Furr and thanked him for her years of service to STAMREP.
Mr. Grant thanked the corporate and individual sponsors for the meeting and the golf tournament. He then
thanked the following for their assistance in organizing the Annual Business Meeting Carrie Caesar,
Terri Callery, Craig Estlinbaum, Stuart White, Chuck Gilliland, Ronnie Singleton, Richard Furr, Carla Brooks, and
Jim Foster.
The meeting was adjourned at 4:50 p.m.
Respectfully submitted,
Terri Callery
Secretary