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TREC renews MOU with Texas A&M Real Estate Center after annual report from Center director
Summary
TREC approved changes to a long-standing memorandum of understanding with the Texas A&M Real Estate Center after hearing the center's annual report. The commission emphasized the research center's role supplying data, forecasts and publications used by licensees and policymakers.
The Texas Real Estate Commission voted to approve updated language in its memorandum of understanding with the Texas A&M Real Estate Center and heard the Center's annual activity report.
Pamela Cannon, director of the Real Estate Center at Texas A&M University, gave the Center's annual summary, saying the center completed 17 research projects in the year, produced multiple reports, columns, blog posts and videos, and delivered dozens of presentations across the state. "We did have a very productive year... We had a research team of 8 who completed 17 projects this year," Cannon said.
Executive Director Chelsea Buchholz described the MOU as a long-standing agreement that memorializes the relationship between TREC and the center and records the passage of funding directed by statute. Buchholz told commissioners the proposed revisions streamlined the document to reflect current collaboration and funding mechanics and recommended approval.
Commission action: The commission moved, seconded and voted to adopt the MOU changes as presented.
Why it matters: The Real Estate Center provides market data, policy analysis and continuing resources to license holders and the public. Cannon told the commission the center will publish a statewide economic forecast in January and an annual housing report later in the year, expanding geographically sourced columns from four regional researchers.
Context and next steps: TREC staff said the revised MOU does not limit the center's broader work but formalizes how TREC and the Center collaborate and transfer statutorily directed funds. Commissioners praised the Center's publications, including a themed edition of Tierra Grande on the state of water in Texas.
