The Houston Real Estate Council (HREC) was first created in the early 1990’s when the city of Houston was attempting to align itself with new zoning regulations. Zoning was definitely its founding purpose. However, its scope has since broadened into many other interests of Houston real estate. Today HREC remains at the center of the Houston real estate scene. This is an organization instituted where community persons in the real estate industry could discuss new policies, laws, and trends in the real estate scene.
This council is divided up into five sub-council based on the real estate arena: office, industrial, retail, multi-family, and single family. Its council members not only keep Houston real estate agents informed, they also work hand in hand with governmental agencies. In fact, city, state, and federal agencies have had HREC on their committees to help make a decision. These councils are so highly respected in the area that most of the leading personalities in Houston real estate are members. However, although any Houston real estate investor or developer is allowed, only such persons are allowed. The stipulation is that you have to be a recognized real estate investor or developer.
An example of the huge personalities on the HREC: Haidar Barbouti. Houstone only contains a portion of his interests. His interests can be found from Houston to New York City. In 1990 shortly before the HREC even started, Barbouti bought Highland Village shopping center. He has remained its Director of Leasing, bringing it to its current immense popularity. And that is not all he does. He is also in charge of daily operations, redevelopment, and portfolio management. There is no doubt that Barbouti is a huge face on the Houston real estate scene. But that is just one example of the huge faces you will find on the HREC.