Society of Texas A&M Real Estate Professionals
Board of Directors Meeting
College Station, Texas
January 18, 2002
| Present: | |
| John Schmedemann | President |
| Bryan Leonard | President Elect |
| Stuart White | Vice President |
| Wayne Etter | Secretary |
| Kirk King | Treasurer |
| Wendell Wood | Region II Director |
| Jamie Sieffert | Region III Director |
| Tom Goen | Region IV Director |
| Martha Agarwal | Region VI Director |
| Dr. Malcolm Richards | |
| Jamie Bryant |
At 9:00 A.M., President John Schmedemann called the meeting to order.
Dr. Malcolm Richards gave a Real Estate Center update and distributed the REC Annual Report and calendar. The REC reported a significant increase in licensees in Texas over the past year. The REC’s website reports an average of 50-55,000 unique viewers per month. The REC will hold the 12th annual Outlook for Texas Rural Land Markets in College Station on May 3, 2002.
Dr. Richards reported that the REC’s most common request is for information on economic development in Texas, although there are increasing requests for unique items. Mold is a major concern affecting Texas real estate markets. The lack of insurance on properties with mold, and how that will affect financing, is a major concern. Another major concern is how mold will affect the consumer’s mindset due to health issues. The REC is working on research to determine the impact of mold.
The REC is currently working on a Texas transportation outlook. The report will review the proposed new routes through south Texas that will link the U.S. and Mexico.
The minutes from the 2001 Board of Directors Meeting, held in conjunction with the Annual Business Meeting, were approved as read.
Treasurer Kirk King submitted the treasurer’s report. The August 31, 2001 balance was $58,903.43. The money market account balance is $20,627.23. The checking account balance is $38,276.20. The treasurer’s report was approved as presented.
Dr. Wayne Etter reported on the LERE program. He stated that 12 students had graduated in December 2001. Upon graduation, 11 out of the 12 had job offers, and Dr. Etter felt confident that the remaining graduate would have a job offer soon. Four students will be graduating in May of 2002. Sixteen students will be graduating in December of 2002. The LERE program welcomed 9 new students in the spring semester, 2002.
Dr. Etter then announced that Terri Callery accepted a position as Assistant Director of the Professional Program in Accounting and will no longer be working with the LERE Program. The LERE Program welcomed a new professor this semester. Dr. Tom Jackson will teach the Real Estate Valuation course.
Plans for the proposed natural resources symposium in conjunction with the Real Estate Center have been canceled. Dr. Etter also discussed the state of the economy and how that might affect the job market for the upcoming graduates and summer internships for current students.
President-Elect Bryan Leonard addressed the site selection for the 2002 Annual Business meeting to be held July 25-27. A list of sites were discussed; the YO Ranch in Kerrville, Texas was selected by consensus.
Bryan Leonard discussed finding speakers for this year’s ABM. Dr. Etter commented on the success of last years ABM, putting emphasis on attracting larger attendance through a high quality program Due to the absence of Terri Callery, the board will have more responsibility in handling the details of the upcoming ABM as well as maintaining communication between STAMREP members.
Dr. Etter announced that last semester, LERE students received 13 of the 18 $3,000 graduate scholarships awarded from the Appraisal Institute. A $1,000 scholarship provided by CCIM is due to be awarded to one student this semester. Dr. Etter also announced a new scholarship. The Andrew B. Hendrix III scholarship will provide $1,250 a year. Four endowed scholarships – Wooten, Plum, Schmedemann, and Valero – are available to students in their last semester who hold a grade point of 3.5 or above. The IPT Scholarship is still providing two $1250 scholarships to students at the end of their first semester. The Fred & Susan Caldwell Scholarship ($2000) has been provided for the third year.
Dr. Etter posed a question about the use of scholarship money. The question arose, should the money be used to attract new students by awarding money in the first semester or to reward current students for academic performance in the program. The topic of setting up scholarships to resemble assistantships was discussed, in that students receiving certain scholarships would provide work for the program.
Dr. Etter proposed hosting a Commercial Market Outlook Program. The program could possibly provide mandatory continuing education credits. Dean Strawser supports the idea; he suggested that any profit from holding such a program could be used for scholarships for LERE students. The board brought up several questions on how to proceed with such a program such as when and where to hold it, putting emphasis on the need for quality continuing education programs. The board showed support for the creation of such a program, and Dr. Etter is going to begin working on the details to be discussed at the ABM.
John Schmedemann led a discussion on increasing STAMREP’s membership. A motion to form a membership committee was entertained by John Schmedemann, Wendell Wood seconded the motion; the motion was approved. Dr. Ivan Schmedemann will chair the committee, with each of the regional directors serving as members of the committee.
The committee’s goal is to increase participation in STAMREP, increase dues collection, and increase STAMREP membership overall. Many suggestions to accomplish these goals were made. One was to send e-mail to all current members and ask them if they know how to contact any of the former members (STAMREP’s MOST WANTED!!) for whom we have no contact information. The committee should check with the Association of Former Students to see if their records may be helpful.
Regional directors stressed the need for a list of all members, current and former within their area. Typically, dues are paid before or at the ABM. After the ABM, a follow up on all those who have not paid is needed. Another idea was to include a STAMREP membership and dues form on all emails that will be sent out.
Another issue addressed was student involvement in STAMREP. Emphasis was put on getting current students to attend the ABM without conflicting with their summer internship. An idea was put forth to increase interaction between STAMREP members and current students by setting up student shadowing of members, as well as other possible events where current students could meet former students.
Tom Goen announced that prior to the board meeting, there had been no nominations for life membership. The board nominated and approved Dr. Curtis Lard for life membership. The board also, in recognition for her hard work and involvement with STAMREP, nominated and approved Terri Callery for life membership. Emphasis was put on making sure these two awards were taken care of before the ABM. In addition, the board felt that the STAMREP and former LERE student directory should have a special section listing those select few who have received life memberships.
John Schmedemann made the request for new business. Two items were addressed, the revision of STAMREP districts, and the revision of certain sections of the STAMREP constitution and by-laws.
Revision of STAMREP districts:
Revision of STAMREP constitution and by-laws:
Stuart White moved that notice of the proposed revisions be given to the membership before the next BOD meeting and the ABM. Bryan Leonard seconded the motion, and the motion was approved.
Two suggestions were made for future BOD meetings. The first was to invite current LERE students to have lunch with the BOD when it meets on campus. The second was to invite Dr. Malcolm Richards to present a REC update at the January BOD meeting, and the ABM.
Stuart White moved to adjourn the meeting, which was seconded by Wendell Wood. The motion passed and the meeting was adjourned at 1:45 PM.
Respectfully Submitted,
Wayne Etter, Secretary and Jamie Bryant