Step 1: Recall the condition for equal roots.
A quadratic $ax^2+bx+c=0$ has real, equal roots exactly when $b^2 = 4ac$.
Step 2: Identify the coefficients.
Here $a=3$, $b=-7$, $c=m$, so we need
\[ (-7)^2 = 4(3)(m) \]
Step 3: Solve for $m$.
\[ 49 = 12m \implies m = \frac{49}{12} \]
Step 4: Conclude.
This matches option (2).
\[ \boxed{\frac{49}{12}} \]