Commercial Structures Reference Guide
| TABLE OF CONTENTS |
I. Why Form a Commercial Structure 1.1
III. Planning a Successful Start-Up 3.1
IV. Commercial Structure Alternatives 4.1
VII. Model Bylaws, Rules and Regulations 7.1
VIII. Commercial Board Application Process 8.1
IX. Commercial Board Application Forms 9.1
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As "The Voice for Real Estate® ", and, as an Umbrella organization, NAR strives to serve all its members, regardless of their real estate specialization. Consequently, the REALTOR® organization has embarked on an effort to enhance programs and services that it provides to members who are active in or have an interest in the specialty areas of real estate. In recent years, a number of State and Local Associations have launched initiatives to respond to the needs of their commercial and investment members.
At the national level, NAR has responded by forming Business Committees such as Appraisal, Auction, Commercial and Investment, and Property Management, as well as special interest membership sections. In addition, the challenge of providing meaningful, cost-effective services to commercial and investment members at all levels of the REALTOR® organization has been addressed by several task forces and ad hoc committees. One of the consistent recommendations which arose from these groups was the need to thoroughly examine the structure of the REALTOR® organization, particularly at the local level, in terms of its delivery of services to commercial members.
In January, 1991, at the request of three NAR Committees, President Harley Rouda formed the Presidential Advisory Group on Alternate Commercial Structures. Representation on this Advisory Group included members from the Commercial and Investment, the Executive Officers, and Membership Policy and Board Jurisdiction Committees, as well as the Institutes, Societies and Councils.
The purpose of this Advisory Group was to develop model structures for State and Local Associations to use in order to better meet the needs of commercial practitioners in their market area. As a result of its deliberations the Advisory Group drafted this "Commercial Structures Reference Guide" which describes commercial committees, commercial divisions/ councils/ societies, regional commercial entities and commercial boards - all permissible within the NAR Constitution and Bylaws.
©1994 NATIONAL ASSOCIATION OF REALTORS®
All Rights Reserved
Third Edition December, 1994
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| ABOUT THE GUIDE |
This guide is a work in progress. Leadership and staff from
a number of Associations have willingly shared their experiences to bring
this information together. At the heart of this guide is Planning
A Successful Start-Up - Chapter 3. By carefully following
all the steps outlined therein any group will surely be successful. The
other Chapters provide the necessary support materials to pursue this adventure.
Additional copies of the Commercial Structures Reference Guide (formerly
# 119-02) are available free of charge to subscribers of the Commercial
Structures Service Package. The entire document (including Bylaws and Rules
& Regulations, but excluding several hard copy articles) is also available
on disk, as well as on One REALTOR® Place.
Should you find that you need materials on a particular service or subject in addition to those included in the guide, contact the National Association's Member Services area, as they maintain a resource file of ideas and materials received from state/local groups and can often provide additional material.
The many existing structures are another good source of information. A complete listing with contact information is included in the Directory of Commercial Structures, produced by the National Association. In 1995 and 1996 this information was incorporated as a separate section of the State & Board Leadership Directory (# 206). The Commercial & Investment area maintains this information, and new groups may be added simply by notifying us using the Commercial Structure Data Form at the end of Chapter 10. If you have not already alerted the National Association of your commercial group, please do so today, and add us to your mailing list. Materials may be sent to:
Updates to the guide are made as additional information is compiled. Questions regarding the reference guide are always welcomed. A brief evaluation form is enclosed to provide your feedback on the usefulness of this manual, and to offer suggestions. Please take a few minutes to share your impressions.
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| INTRODUCTION |
Every Association of REALTORS® has
within its membership a number of brokers and agents who earn some or all
of their income under the broad classification of commercial/investment/
industrial real estate through: sales, leasing, property management, counseling,
exchanging, group investment and other specialty activities.
It is common in larger markets for brokers and agents to specialize solely in commercial/ investment/industrial real estate. In fact, the sophistication of property owners, investors, developers and buyers in today's commercial/investment real estate arena demands an even greater specialization by its REALTORS® and REALTOR-ASSOCIATES®.
Within the commercial field, there is a great deal of diversification. The commercial practitioner, whatever his/her specialty, requires a knowledge of business methods, legal and regulatory issues, income tax provisions, market conditions, investment analysis, advanced sales techniques, training in counseling, etc.
Commercial professionals are "different" from their counterparts in residential sales. They even speak a different language...have different vocabularies. An organization can be created within an Association of REALTORS® to represent all of these specialists, several boards can cooperatively work together and, in some instances, a new organization will evolve. The specialists will benefit. The entire REALTOR® organization will benefit. The community at large will benefit. This manual will explain the various alternatives available and how to establish such an organization.
For the purpose of this manual the term "commercial" will be used for the commercial/ investment/ industrial practitioner involved in the following activities:
These activities generally pertain to the following property types:
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The organization must have both volunteer and staff commitment and support for it to be successful. There should be a place for each and every member to participate, on a committee or behind the scenes. Members who participate also profit from their involvement.
A professional staff person who understands the needs of the commercial specialists and the demands placed upon them in the highly competitive commercial marketplace is very helpful. It should be understood by leadership that the Association staff should be involved from the very start as the new commercial group is being formed. It may well be an educational process for them as much as it will be for the newcomer to commercial real estate.
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| WHY FORM A COMMERCIAL GROUP |
A. To provide a home for commercial members who are involved in brokerage, leasing, management, group investment, appraisal, counseling, exchanging and development.
B. To create a professional and profitable environment for its members by providing quality continuing education, forums for networking, newsletters containing pertinent and timely information, and marketing techniques to enhance member success.
C. To encourage specialization and increased recognition of professional designations, which identify to peers and clients that the recipient has reached a specified level of professional development, experience and achievement, such as:
D. To enhance membership value, improve communication and increase involvement of commercial members through targeted member services such as: forums, exchanging/ marketing sessions, legislative activities, legal updates, publications, standardized forms, etc.
E. To promote standards of competent and ethical practice in commercial real estate.
F. To recruit and retain commercial brokers as REALTORS® by becoming the recognized source of education, networking and encouragement for the agent who has chosen to enter the commercial real estate field.
G. To institute peer-recognition programs.
H. To identify and develop services which meet the unique needs of the commercial practitioner and support them in an ever increasingly competitive market.
| THE MISSION STATEMENT |
The purpose of forming a commercial group is to:
A. Represent the commercial practitioners who are members of a State/Local Association of REALTORS®.
B. Develop within the State/Local Association, an effective commercial group that will attract new members, retain existing members and provide programs that will assist them in becoming more successful commercial practitioners.
C. Provide a forum to discuss areas of interest to the commercial specialists.
D. Offer professional level educational programs, seminars, and courses which will keep its members current on vital issues pertaining to all commercial real estate specialty areas, thus enabling them to better serve the public and meet state mandated continuing education requirements.
E. Monitor, research and recommend action to the Board of Directors on matters that affect commercial real estate.
F. Provide liaison with other industry groups in the commercial field.
G. Promote professional designation/certification programs available through State Associations, Institutes, Societies, and Councils and the NATIONAL ASSOCIATION OF REALTORS®.
| PLANNING A SUCCESSFUL START-UP |
There are four stages of development involved in the Association's decision to provide commercial services to its members; introductory, planning, implementation, and growth. During the introductory stage, the Association makes a commitment to provide commercial services, targets the commercial market, and identifies the members' needs. The planning stage entails the development of an abbreviated strategic plan which details the objectives and strategies. Once the specific plan is adopted, the objectives and strategies are then implemented. During the growth stage, the Association monitors, evaluates, modifies, and expands its commercial services. Throughout the four stage process, patience, listening skills, careful planning, flexibility, and compromise are important.
STEP THREE: IMPLEMENTATION STAGE
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Of the four, the introductory stage is probably the most important. As the process begins, it is imperative that the Association's leadership (the Board's Officers and Directors) are sold on the benefits and make the commitment to provide services to their non-residential practitioners.
Commitment
A commitment is the conscious and unwavering decision, made by the Board's leadership, to expend the Association's resources to furnish a minimum level of commercial services to its members. If a core group of commercial practitioners has already been identified, the Introductory and Planning stages may be delegated to an appointed "Task Force" or "Special Committee". As additional key players are identified, they may be added to the group. If this resource is not readily available, board leadership will have to carry the torch initially.
Target the Market
After the commitment has been recorded, it is necessary to target the market (REALTOR® members as well as potential members) for commercial services. In some cases, commercial REALTORS® are easily identified by the nature of their business and they may know other commercial members. Other sources which may be used to target the commercial market include membership surveys which ask the specific question, a questionnaire on the new member application, for sale or lease signs on commercial properties, the Yellow Pages, and agents who run newspaper advertisements on apartments, warehouses, commercial land, industrial buildings, and lease space. News articles focusing on commercial real estate are an additional source which will often quote prominent commercial agents.
Another way of identifying commercial agents is to obtain membership lists from allied commercial organizations. Groups such as the Building Owners & Managers Association (BOMA), the International Council of Shopping Centers (ICSC), NACORE International, the Urban Land Institute (ULI), the National Multi Housing Council (NMHC), and the National Association of Industrial and Office Parks (NAIOP) are excellent sources for identifying commercial practitioners. The Association should not overlook members of their local or regional chapters of the National Association's affiliated Institutes, Societies, and Councils: the Institute of Real Estate Management (IREM), the Commercial Investment Real Estate Institute (CIREI), the Society of Industrial and Office REALTORS® (SIOR), the REALTORS® Land Institute (RLI), and The Counselors of Real Estate (CRE). A complete list of NAR's Affiliate and designation programs is contained in Chapter 10.
Assess the Needs
Focus groups, comprised of key players, can be organized to discuss issues and assess commercial members' needs. The influential key players include; commercial members who have been especially vocal about the lack of commercial services, as well as commercial sales managers, owners of commercial firms, members from companies which practice both commercial and residential real estate, and agents outside of the Association, Board leadership and the Executive Officer.
During the focus group discussions, ask the participants what commercial services they want. What is their perception of the Association? What, in their minds, does the Association need to change in order to serve commercial agents? What is the scope of their market place? Input from these members and potential members is vital and should be given weighted consideration. After all, these are the people the Association wants to serve.
Surveying the targeted market is another way to identify needs. Of all the different survey techniques (personal interviews, telephone surveys, and written surveys), the one which requires the least amount of time and expense is the written survey. Obviously, the Association's budget will dictate what techniques are used and how extensive a survey can be. If permissible, you may wish to use professional consultants, or get advice from university professors or students. Try to prepare well-worded questions to determine which benefits and services the targeted market wants but is not currently receiving. Additional information on surveying and a sample survey instrument from one board is contained in Chapter 6. Another resource is the Executive Summary of the C&I Member Benefits/Services Study, December 1991 conducted by the National Association which is in Chapter 10 - Additional Resources.
The introductory stage begins with a commitment from the
Association's leadership to provide commercial services and may be culminated
in the appointment of a "Task Force" or "Special Committee".
Once the commitment is made, the next step is identifying those commercial
agents in the Association's market area and assessing their needs. Leadership
picks key players (those influential people who are leaders within the
commercial arena) to help identify what commercial members want and surveys
are used to measure the targeted market. Listening skills and the willingness
to learn are important requirements during this crucial development stage.
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The next step in the process is to develop a plan by evaluating the responses from the focus groups and surveys. In addition, agree on planning assumptions (based on input from the focus groups and surveys), prioritize the objectives (goals) and strategies (what needs to be accomplished to meet the objectives), review the Board's resources in light of the objectives, and make a decision on which organizational structure should be used.
The Strategic Plan
Much of the same background material formulated within the focus groups is used to develop the Strategic Plan. Leadership may wish to use the same focus group members or pick a more selected strategic planning committee. Whoever is picked to accomplish this task, make sure it includes the Board's top leadership and key commercial players. Members who have ownership in the commitment will be able to sell the plan to the Directors and the membership. It is also important to involve the local chapters of the Institutes, Societies, and Councils in the early planning stages. It may be helpful to hire a facilitator to orchestrate the planning discussion, depending upon the size of the strategic planning group and the complexities of the subject. Flowing directly from the planning assumptions, the strategic planning group decides on the planning objectives. A sample Strategic Plan from the St. Louis Commercial Division is included in Chapter 10.
Objectives
Objective is defined as "a broad statement of what is expected to be achieved in providing commercial services." Some examples of planning objectives are to provide services and integrate Affiliates and non-residential practitioners into Board programs, build image awareness and professionalism for the non-residential practitioner, and develop mechanisms to open lines of communication between the Board, the Affiliates and the commercial members.
Strategies
Strategies are defined as "specific, measurable actions and directions designed to reach the objectives. Strategies are fulfilled through creation, continuation, change, or elimination of programs." Strategies may include conducting commercial education programs which meet state mandated continuing education requirements (such as offering NAR's Commercial & Investment Certificate program, or Co-Sponsoring affiliate designation programs), establishing Professional Standards and Orientation committees. Other strategies to keep in mind are commercial member representation on the Board of Directors, providing information and acting as a clearing house for pertinent non-residential information, taking a leading role in legislative initiatives, and setting a goal to increase the commercial membership by 20%.
The group should examine external trends impacting the market place: government regulatory problems, demographic shifts, and economic conditions. Identifying the geographic dimensions (local, metropolitan, regional or state) of the commercial market is important too. The group should discuss the Association's internal resources, including the members, volunteers, staff, organizational structure, facilities, and budget. Other key topics for discussion are the Association's strengths and weaknesses as they relate to commercial services, the perceptions and expectations of the key players, and what general assumptions regarding commercial services can be made after analyzing the external and internal forces.
Board Resources
Whenever there is discussion about introducing new services, the Board's human resources and facilities must be assessed. Which staff person will have the time and ability to support new commercial services? Is additional staff needed? Is there a need to change the staff support alignment? Are there volunteers willing to accept the role of implementing the plan? Does the Board have the facilities to provide additional services or will it require going outside of the Board building? What will be the additional expenses? What is the monetary impact of obtaining new commercial members?
Organizational Structure
Once you know WHAT you want to accomplish, your focus will turn to the next planning consideration, HOW to deliver the services through the organizational structure best suited to the needs of the members of the Association: committee, division/council/society, multi-board cooperative entity, or overlay board. These alternatives are covered in greater detail in Chapter 4, where short narrative examples are provided as models.
Much of the organizational structure will depend on the size of the targeted market area and potential membership size. If the market area is confined to the Board's jurisdiction, leadership may choose a committee structure. If necessary, a committee structure may be expanded by forming sub-committees to handle specialty areas such as education, professional standards and orientation. Task forces may be assigned to handle projects, i.e., recognition banquets or zoning ordinance changes. Of all the recommended structures, a committee is the easiest to organize and can be readily expanded or switched, if the market changes. A good example of a commercial committee structure is the Greater Baltimore Board of REALTORS® Commercial and Investment Committee.
If the targeted area is metropolitan or regional in scope, the Division/Council/Society, Multi-Board joint venture or overlay Board structure may be used. Each has its own advantages. A separate Division, like the Denver Board of REALTORS® Greater Metropolitan Commercial Division (GMCD) model, is administered by an Executive Board which answers to the Board of Directors. The Division's description was incorporated into the Denver Board's Bylaws. Commercial sub-committees (for marketing, education, and the commercial listing service) and special task forces receive direction from the GMCD Executive Board. The Division within the St. Louis Board of REALTORS® is another example of a Commercial Division.
Shortly after the Denver structure was organized, contiguous Boards who didn't offer commercial services to their members entered into separate agreements with the Greater Metropolitan Commercial Division to waive jurisdictional membership requirements for their commercial practitioners. Now that Board of Choice has been instituted this is no longer necessary as members may choose to join the board offering them the most value directly, or subscribe to those services while holding membership in another board, or join the board as a secondary member. This structure has similar advantages to the Society model but does not have as much autonomy. Although the division may have a separate dues structure and budget, the Division is supported by the entire Board's budget.
Divisions which are separately incorporated as subsidiary corporations of the Board, like the Atlanta Board of REALTORS® model, are usually referred to as Societies. A similarly incorporated Society may be organized for residential members. They each have their own Executive Committee and Board of Directors which report to the umbrella Association's Board of Directors. This type of structure offers commercial members their own identity, gives them an opportunity to govern their own membership, and has a separate budget and bylaws. In addition, it allows commercial members to perform more leadership roles which may not have been available to them before.
A cooperative Multi-Board commercial entity is simply a Division organized like a regional MLS. This structure is organized as a joint venture of 2 or more boards, owned and administered by the participating Boards within the market area. The Quad Cities Commercial Division is an example of this model.
The overlay Board is a structure solely operated by commercial members which may exist independently within the boundaries of other Board jurisdictions. One of the important restrictions to an overlay Board is that it may not provide services for residential brokers. Aside from giving the commercial members distinct identification and recognition in the marketplace, it also assures them of direct representation at the State and National Associations. If this structure is chosen, the organizers may wish to obtain the support of surrounding Boards and the State, before seeking approval to create the structure from the National Association of REALTORS®.
Most overlay Boards contract for support staff services from a Board within their market area, but they may also contract with a multi-management service or hire their own staff. Overlay Boards have their own Charter, Bylaws, and Budget. The Denver Metro Commercial Association of REALTORS® and the Greater Atlanta Commercial Association of REALTORS® are examples of previously organized structures which evolved into commercial Boards; however, this need not be the case. The important point to realize is that this model was designed to serve members in a natural market area, even if it crosses state lines or encompasses the entire state. The obvious requirement for this model is a large enough pool of members to support the organization and desired services.
Approval
The final step in the planning stage is to bring the plan to the Board of Directors for approval, or in the case of a commercial Board to the State and National Associations . If leadership has kept the Directorate informed throughout the introductory and planning stages, this procedure should be accomplished as a matter of course. A well-documented plan should include minutes of the strategic planning discussions, as well as a detailed description of the budgetary implications. To show visible support for the plan, the key players should be invited to participate in presenting the plan to the Directorate. To ensure success, this stage requires leadership's commitment, patience, listening skills, and careful planning.
The application and approval process for commercial Boards is laid out in Chapter 8 of this guide.
STEP THREE: IMPLEMENTATION STAGE
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The obvious objective of the implementation stage is to make the plan work. After targeting the market, making a thorough investigation of commercial member needs, evaluating the market place and assessing Board resources, the Association is ready to make its first impression on the commercial market. During the implementation stage, the strategies are further broken down into a specific business plan and responsibilities are assigned to put the plan into effect.
Business Plan
A business plan describes how each strategy will be carried out and who will implement the strategies. The business plan, or program of work, is designed to make people accountable. In many cases, it is the staff's responsibility to prepare the business plan, subject to approval or modification by leadership. The business plan addresses who is responsible, when is it going to be done, and how is it going to accomplished.
At this point, one of the necessary strategies may be the need to make changes in the Board's Bylaws, particularly if the structure your group has chosen is different from a committee. Once the Bylaws changes are reviewed by the National Association of REALTORS® and approved by your membership, the business plan may materialize. This step affords the opportunity to make appropriate staff changes and ensure the budget is in line with the objectives and strategies. Model Bylaws and Rules & Regulations for the structure alternatives are provided in Chapter 7.
Starting on the Right Foot
Keep the number of committees and committee assignments to a minimum initially. A list of committees and descriptions which the group may eventually aspire to organize is included in Chapter 10.
Set a tentative schedule of meetings and programs for a six month period. You may want to develop an entire Marketing Plan, which includes creating marketing pieces for the group and when and where your programs will be promoted.
Publicize the first meeting well. Use every means available: local media, your Association's newsletter or other publications, make announcements at Association membership meetings, set up a telephone committee to make personal calls to prospective members (this will be your most effective promotional tool as your group grows).
Keep the format of meetings simple, fast moving, and on time. The first meeting should address issues that are important to your commercial group. Whoever has called the meeting should set a positive stage by welcoming everyone. Emphasize the importance of networking and membership participation. The leader should let them know the Association is interested in working with them.
Common Programs
There are some common services which have been developed by other Boards who have gone through this process. Commercial education programs and training sessions have been one of the top priorities and can be easily implemented using commercial member instructors or outside presenters. Most Boards have established commercial orientation programs (scheduled late in the afternoons or in the evenings to accommodate commercial REALTORS®' schedules - sample in Chapter 10) and set up commercial grievance and hearing panels using commercial practitioners. Some have established commercial marketing sessions, while others have introduced a commercial information system. Commercial membership development and retention committees have been established by Boards, comprised of enthusiastic volunteers spreading the word and selling the benefits. Additional information on member services is included in Chapter 5.
Gratification and Quality
Like all Board services, the most appealing are those which give the member instant gratification. Educational programs and forums, which help the member make a sale, are the most popular services today. To teach these commercial sessions, bring in professionals, developers, lenders, buyers, or sellers who are active in the market. Panels of successful agents describing how they were able to complete a complicated transaction draws a crowd. If possible, take the time to investigate the credibility of the presenters before your session, listen to the presenter or instructor before the Board event, and assess whether or not the presenter will hold the audience's attention. In other words, quality presentations are very important to the credibility of the programs.
Remember
It takes time to establish a successful group for commercial practitioners. It's possible that the initial organizational meeting may be attended by only a handful of participants. Even after the organization has been going for a year or so, the leadership may become dismayed when what was thought to be a popular program topic draws a small number of attendees. It's part of the learning process...finding out what subjects and activities appeal most to the members.
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Once word spreads of the services and benefits, commercial members will want more. An interesting phenomenon which most commercial groups have experienced is the increase in membership, even in adverse markets. While more members is a welcome result, it can put more pressure on the staff and other Board resources. Therefore, during the growth stage, it is important to be flexible, willing to change, and be prepared to either expand or, possibly, eliminate programs.
Monitor, Evaluate, and Modify
During the growth stage, it is the responsibility of the governing body to closely monitor commercial services. The business plan should be reviewed quarterly to measure accountability. Committee chairpersons should have the responsibility of reporting periodically to their governing body. Monthly, keep close track of the progress by comparing actual expenses with the budget, reviewing membership trends, and assessing how members are responding to educational programs. Attendance records should be kept at each educational session and staff and committee members should listen to comments in the halls during the breaks and make notes on how programs can be improved.
At each education session, evaluation sheets should be available for members to rank the quality of the program, and its value to his/her business. What other programs does the member want to hear? The evaluation form should include questions on how long the member has been in the real estate business, and to what size firm does he/she belong. Inquire if the member has an interest in serving on a commercial committee and do they know other commercial companies who may have an interest in joining the Board. Evaluation forms give the Board the opportunity to measure efficacy.
Keep in mind that not all programs will be perfect, nor will the commercial member always be satisfied. Economic conditions are always changing and so are the members' needs. Programs that were well attended in the past may not be appropriate tomorrow. While sometimes a program has merit, it may need that extra marketing effort.
Plans are made to be revised. Stay in tune with reality and the current marketplace. Those who monitor commercial services cannot be afraid to eliminate, modify, or expand programs. Give the members what they want and they will want more.
New Programs
When the members recognize that the Board has a sincere interest in providing quality benefits, they may become the best source of ideas for service improvements. Occasionally, the market may force the introduction of a new service or benefit. Whenever there is a meeting of the National Association of REALTORS®, local Boards have the opportunity to share their innovative programs. The Association should not be afraid to try something new and test the market.
Some examples of value-added programs are a brochure sorting and delivery service, a commercial information system (book and on-line), monthly newsletters, certified education programs (equivalent to the GRI), and commercial speakers' and writers' bureaus. The Board may implement specialty marketing sessions with guest speakers, followed up with letters mailed to property owners on behalf of the commercial agent who "pitched" the owners' property at the marketing session. Other services include special functions to recognize commercial production and volunteers, "Deal of the Year" awards, discounts on signs, car phones, health and errors and omissions insurance, and staff support services for commercial Affiliates.
As in the other three, the growth stage requires leadership's patience, listening skills, compromise, planning, and flexibility. This is the period when the Association will receive the most gratification: membership will undoubtedly grow and the volunteers will be enthusiastic.
CONCLUSION
The Association will experience several stages of development after it makes the commitment to deliver new commercial services to its members. Thoroughly completing each stage, one step at a time, is important for the whole process to be achievable. Each stage requires strong leadership, dedicated volunteers, and a supportive staff.
Sources
To save your Association time, Boards within the REALTOR® family who have made the commitment to provide commercial services are available to share their successes and disappointments. One of the most valuable resources available is the staff at the National Association of REALTORS® who have samples of materials received from various groups around the country, commercial member service trends, membership lists of Affiliate Institutes, Societies, and Councils, and names of prominent commercial members in your state or region. Feel free to take advantage of N.A.R.'s materials and resources. One of these resources is the Directory of Commercial Structures.
Rewards
The rewards of establishing a commercial structure are numerous. Commercial members add an extra dimension to your Association, the membership will grow, the residential practitioners will have an opportunity to expand their horizons, and the volunteer participation will increase. The biggest reward of all is that the members will be better served, more competent, and more profitable.
| COMMERCIAL STRUCTURE ALTERNATIVES |
There are four structure alternatives to choose from; the
Committee, Division/Society/Council, Multi-Board joint venture, and commercial
Board. The structure types are ordered in increasing complexity, and may
be looked at as developmental stages in an evolutionary process controlled
by market demands. The previous chapter pointed out some of the differences
and advantages among the alternatives. Here, each is discussed in detail
separately, with narratives highlighting examples of the models. Bylaws
are covered in Chapter
7, for use after the particular structure type has been chosen.
The following narratives briefly outline the evolution, organization, and member services package of these commercial structures. Each uniquely demonstrates how a capacity to satisfy the business needs of commercial practitioners can develop. Certainly, there are many other successful structures across the nation, but there is simply not room here to highlight each of them. Rather, the intent is to stimulate a vision of "What might be ... and can be", in order that many new structures may join those already fulfilling those needs.
The vision is to have the commercial group become the recognized umbrella organization for all of the commercial real estate specialty areas.
As an interim step in this process, the Board/Association may want to appoint a "Task Force" or "Special Committee"; however, this is not a viable long term solution as these groups have no official status in the organization or the ability to effect their own destiny.
An adjunct to these structures not discussed in this chapter is the Forum. It should not be confused with or used in place of the alternatives discussed herewith, but it can be a service that will enhance your organization. The forum allows for a sharing of ideas outside the setting of a business meeting and is a good place for members to make contacts and conduct business.
COMMITTEE
1. Membership appointments to the committee should represent the majority of commercial firms in the area. Association members and non-members should be encouraged to participate in the meetings. This allows them to take a personal role in the structure's development, and is also an opportunity to introduce non-members to the Association and encourage membership. (The size of the group/committee will vary, depending on the size of the Local or State Association.)
2. The committee should hold an annual election of the committee chairman. (In some cases the Chairman may be appointed by the president of the Board.)
MEETINGS
1. A regular meeting schedule should be established. Special meetings shall be called by the chairman.
2. An agenda shall be prepared in advance.
3. Written minutes shall be maintained by the Secretary and mailed to committee members with notice of the next meeting.
4. The Chairman or his designee shall conduct the meeting.
5. Goals and objectives should be determined and distributed to both members and non-members.
BUDGET
After the committee has been formed, it may be necessary to submit a budget to the Board of Directors. Since the committee does not have a separate dues structure, activities must generally be self supporting.
Commercial Investment Divisions (CIDs) are created within
the structure of an existing Association or Associations of REALTORS®.
Benefits of a Commercial Division include: identification of specialty
members within the Association, committee structure for the division members
(i.e. Professional Standards, Ethics, Education, Executive, Board of Directors),
special education programs, recognition programs, commercial orientation
programs for new members and possible budget availability. Commercial Divisions
can be structured in a variety of ways including, but not necessarily limited
to, the following:
A. A Commercial Division of an Association of REALTORS® with membership available only to REALTOR® members (primary or secondary) of the Association.
B. A Commercial Division of an Association of REALTORS® with membership available to REALTOR® Members of the Association and to commercial brokers from other Associations on a subscription basis.
The examples of Divisions in A and B are organized as committees of the Board (Denver Board of REALTORS® GMCD model), with oversight for the division provided by the committee (see Model 7.3). Additionally, the operation and organization of the Division may be defined in a set of Rules and Regulations (see Model 7.13-15).
C. An agreement between two or more Associations of REALTORS® establishing a regional commercial division with membership available to all REALTOR® members (primary or secondary) of the Associations party to the agreement, and to commercial brokers from other Associations on a subscription basis (see Alternative 3).
D. An Association may also establish separately incorporated Divisions which are wholly-owned by the Association of REALTORS®. These are usually referred to as Societies, and one may be organized for Residential and one Commercial (Atlanta Board of REALTORS® model). Members joining the Association elect to join the entity that offers them the most in regard to their particular professional interest. Sample Article to amend the Association Bylaws providing for creation of this entity are included as Model 7.5. Each society also has its own Bylaws (see Model 7.7-11), committee structure, Board of Directors and reports directly to the Association. This structure could also offer membership to commercial brokers from other Associations on a subscription basis. Sample Rules and Regulations are included as Model 7.17-19.
NOTE: In all four (4) structures described above (A,B,C,D), Associations may establish prerequisites for membership in the CID beyond those ordinarily required for membership in an Association of REALTORS®. However, if the CID operates a multiple listing service, participation in the MLS must be available to all REALTOR® members of this or any other board who are principals, partners, corporate officers, or branch managers acting on behalf of principals, as defined in Section 7.9, Handbook on Multiple Listing Policy.
EVOLUTION/ INTRODUCTION
The Denver Board of REALTORS® is not much different than many boards around the country in that the majority of the Association's members are residentially oriented and most services and benefits provided by the Association are for residential practitioners. In early 1987 the feeling of disenfranchisement was magnified in the Denver Metropolitan area. One of the larger boards received complaints from commercial agents who were not receiving benefits commensurate with their annual dues. Major commercial firms in the city had also expressed their discontent and indicated they would discontinue their membership in the Association if more focus wasn't given to commercial services. In the beginning the GMCD was not easy to sell to surrounding boards. Boards were concerned about losing their grip on jurisdictional rights.
A compromise was reached in 1987. The Denver Board agreed to annually: 1). Give the surrounding boards the right to review and approve their jurisdictional waivers, 2). Rebate a portion of the dues collected from members from outlying jurisdictions to the home board, and 3). Denver Board would report the GMCD accomplishments and budget to the signatory boards.
Boards wanting to become signatory boards to the GMCD must execute a contract with the Denver Board of REALTORS® agreeing in writing to conform to the rules and regulations of the GMCD including the payment of required service charges, fees, assessments and agreement to arbitrate any disputes. On January 6, 1988 the first board signed the agreement. By the Spring of 1988, all surrounding boards were a party to the agreement.
Now that Board of Choice has been instituted this is no longer necessary as members may choose to join the board offering them the most value directly, or subscribe to those services while holding membership in another board, or join the board as a secondary member.
STRUCTURE
Members joining the Denver Board of REALTORS® can participate in the Residential or Greater Metropolitan Commercial Division of the Denver Board for no additional dues. Members of the Denver Board who wish to be members of both the Commercial and Residential divisions may do so by paying additional dues to the Denver Board. The GMCD reports directly to the Board of Directors of the Denver Board of REALTORS®.
The categories of membership for the Denver Board of REALTORS® (and the GMCD) are REALTOR® Affiliate, Institute Affiliate, Associate, Non-Resident, Public Service/Property Owner, Honorary, and Life members. The staff of the Denver Board of REALTORS® is shared with the GMCD. The Denver Board of REALTORS® owns, operates and administers the GMCD. The GMCD is governed by the GMCD Executive Board. This Executive Board is comprised of at least one representative from each major member firm and representatives from small firms which would include at least one representative from each of the participating local boards' jurisdiction. All representatives must be members of the GMCD. The Chairman and the Vice Chairman of the GMCD Executive board are appointed by the President of the Denver Board of REALTORS®. The Chairman's office must reside within the jurisdictional boundaries of the Denver Board. The Vice Chairman's office can be located at one of the signatory board boundaries, however the Vice Chairman may not succeed to position of Chairman.
The GMCD committee structure includes: nominating, education, professional standards, grievance, membership development and retention, CLS (Commercial Listing Service), ethics and orientation committees. All Chairmen of these committees report directly to the GMCD Executive Board.
SERVICES/ BENEFITS
Education
The GMCD has monthly educational seminars. Topics and speakers are determined by the GMCD Education Committee. Average attendance at these monthly seminars is approximately 100. The state of Colorado has continuing education requirements, and the Greater Denver Commercial Division offers commercial courses for continuing education credits. The GMCD and the DBR also offer courses delivered by the Affiliates of the NATIONAL ASSOCIATION OF REALTORS®.
The GMCD also offers a Commercial Education Certificate Program (CEC). This program was developed by the GMCD Education Committee and is awarded by the GMCD following successful completion of 112 hours of approved curriculum. All courses are delivered locally. Participants must complete the program within 5 years. The program was designed to satisfy Colorado's mandatory continuing education requirements.
MARKETING SERVICES
Commercial Listing Service
The GMCD offers a CLS book, and an on-line system. Subscribers receive up to date information on both active and sold properties. Subscribers to the CLS on-line service have the ability to search for listings, add, change and remove properties. It is not required that you be on-line to participate in the CLS program.
Marketing Sessions
Monthly marketing sessions are held with specialty marketing sessions being held quarterly. Specialty marketing sessions are those which feature only one commercial discipline such as industrial, leasing, retail, investments and land.
The GMCD Express
This service delivers brochures bi-weekly to the agents desk. What makes this service so unique is that the envelopes are packaged by specialty or if desired, the member may receive all brochures. The GMCD Express saves the REALTOR® money, staff time and is an alternative source of income for the Denver Board. There are over 400 agents on the mailing list.
Professional Standards
The GMCD has its own ethics and professional standards committee. This committee ensures arbitration panels are comprised of industry peers.
Orientation/Legal Awareness
Each month the GMCD holds an orientation program for their new members. A great portion of this orientation program is dedicated to educating members on the Code of Ethics and advancing their awareness of the problems and pitfalls ethically and legally in their practice.
Publications
The GMCD publishes monthly their newsletter GMCD News. This newsletter goes to all GMCD members and includes information on educational sessions, new services, and legislative updates. Members also receive monthly a magazine from the Colorado Association of REALTORS®.
The GMCD distributes a "Directory of Specialized Services". This directory lists member's firms by specialty as well as an alphabetical listing of GMCD members. The Denver Board of REALTORS® distributes a complete Membership Directory annually.
Recognition Programs
REALTOR® of the Year and Million Dollar Round Table/Salesman of the Year awards are distributed each year to members on the Denver Board of REALTORS®.
Member Discounts
The GMCD offers several member discounts including: car phones, group banking, a credit union, eye care, etc. These member discounts are available to all members of the Denver Board of REALTORS®.
NOTE: The Greater Metropolitan Commercial Division of the Denver Board of REALTORS® evolved into the Denver Metropolitan Commercial Board of REALTORS® upon approval by the National Association in April 94'. They have contracted for administrative services from the Denver Board.
Back to table
of Contents
EVOLUTION/ INTRODUCTION
The Atlanta Board of REALTORS® formed a commercial division to address the needs of their commercial/investment members. For fifteen years this structure worked reasonably well. However, as the membership ranks grew, the number of commercial practitioners climbed to 20% of the Board membership. The Board readily identified that the structure had been outgrown and there was a need to be even more responsive to the commercial and investment practitioner.
After much research and study, on January 1, 1989, the Atlanta Board of REALTORS® formed two subsidiary corporations of the Board based on real estate specialty: The Atlanta Society of Residential REALTORS®, Inc. and The Atlanta Society of Commercial REALTORS®, Inc..
The transition was smooth for three reasons:
1.) The Commercial Division, which had already been in existence provided a solid
base for launching this new organizational structure.
2.) The Residential and Commercial members were extremely supportive of the
program.
3.) Volunteers devoted a lot of time and energy to ensuring its success.
STRUCTURE
Members joining the Atlanta Board of REALTORS® had to decide which Society they wanted to participate in for no additional dues. The Board had 5,000 members, of which 1,500 were in the Commercial Society. Categories of membership included: REALTOR®, Institute Affiliate, Affiliate, Public Service, Student Membership. The Commercial Society had two staff who worked exclusively for the Commercial Society.
A portion of the dues was allocated to each Society on a per member basis. The Society allowed members of neighboring Boards to join provided, however, they held membership in their home Board. The Atlanta Society of Commercial REALTORS® operated within the territorial jurisdiction of the Atlanta Board of REALTORS®.
The Commercial Society held monthly Executive Committee & Board of Director meetings and has its own committee structure. They also conducted their own Annual Business Meeting. Both Societies reported to the Board of Directors of the Atlanta Board of REALTORS®.
By mutual agreement the Residential & Commercial Societies alternated the Presidency of the Atlanta Board of REALTORS®. This was the custom of the Atlanta Board for over 30 years.
SERVICES/ BENEFITS
Education
The Commercial Society held monthly morning networking sessions featuring a local speaker on current industry topics. Topics were both of a National and Local industry focus. Attendance at these programs was approximately 200 per month.
The Atlanta Board of REALTORS® Educational Foundation owns and operates the Pre- and Post Licensing school of the Atlanta Board of REALTORS®. This institution provides an extensive amount of commercial oriented continuing education courses. Continuing education is required by the State licensing commission.
Orientation
Each month an orientation program was held for new members of the Commercial Society. This session covered five broad topics on a local, state and national level. Topics covered include: Board office facilities, Board history, REALTOR® services, Professional designations, Institutes, Societies & Councils, Political involvement, Ethics and Professional Standards and Fair housing.
Commercial Listing Service
The Atlanta Board of REALTORS® does not operate either a MLS or a Commercial Listing Service. Three years of considerable time and effort were devoted to establishing this service, however, with no success.
Professional Standards
Both the Residential and Commercial Societies had their own Ethics and Professional Standards committee. Each Society's arbitration procedures ensured panels were comprised of industry peers.
Publications
The Commercial Society distributed a monthly newsletter, Transactions which updated members on both the business of the Society and the Industry. In an effort to keep all communications open between the Residential Society and the Commercial Society, Transactions was also distributed to the Designated REALTOR® and Managing Officer of all Residential Society member offices.
The Atlanta Board of REALTORS® in cooperation with other boards in the metropolitan area, published monthly The Atlanta REALTOR® magazine. This innovative piece utilizes the same text with an insert in the middle section of the publication which is personalized for each specific Board. This concept helped to hold down production costs.
Recognition Programs
The Atlanta Society of Commercial REALTORS® had two prominent recognition awards:
1.) The Alvin B. Cates award which was given to the member submitting the most outstanding commercial transaction completed during that year.
2.) The Million Dollar Club membership which was based on personal production of at least one million dollars in real estate transactions in a given year.
Research Center
The Research Center is utilized by all members of the Board. However, the Commercial members found this a particularly valuable service since the center contains a considerable amount of commercial/industrial information, including hard copy, microfiche and computerized data on the 13 county area plats, ownership, tax data and transfer records.
Library
Utilized by both Societies, the facility houses approximately 2,500 volumes on every facet of real estate as well as periodicals, cassettes, slides, videos, and directories.
Standardized Forms
Members of the Commercial Society received standardized commercial sales contracts and leases.
NOTE: The Atlanta Society of Commercial REALTORS® was the first group to apply for status as a commercial Board. The Greater Atlanta Commercial Board of REALTORS® contracts for administrative services from the Atlanta Board of REALTORS®. The narrative in Alternative 4: The Commercial Board, explains how this came about.
The Regional Commercial Entity is a cooperative venture of
two or more Associations in an area. This entity would only be empowered
to service the needs of the commercial practitioner. Members (primary and
secondary) from any of the participating boards could join in addition,
this commercial entity. Membership could also be offered to members of
other boards on a subscription basis.
This entity would be owned and operated by the combined cooperating Associations. Administration of this entity could be handled jointly, by contract with one Association or by hiring specific staff. Associations could withdraw from this voluntary agreement at any time. A sample agreement is included as Model 7.21-22.
In many respects this approach is analogous to the approach used in regionalizing a service such as an MLS. However, in this case the Associations are regionalizing their services to a membership segment. The Bylaws and Rules and Regulations for the division would be based on one of the previous examples.
This structure and the commercial Board are the only available options presently for serving members across state lines in one group, where the assigned jurisdiction does not already provide for it. It has not be widely used; however, because of the difficulties in enlisting the cooperation and financial support of several boards working together.
EVOLUTION / INTRODUCTION
The Quad City Commercial Division was organized in April, 1988 as a joint venture of the Illinois Quad City Area REALTOR® Association, Inc. and the Greater Davenport Board of REALTORS®. Each is a small board with a membership under 500. Together they serve a metro area that is divided by the Illinois/Iowa state line. The division serves 110 members - over 10% of the boards' combined memberships. Participation in the division represents nearly 100% of the practitioners in the market. Almost half of the membership is represented by a small number of commercial firms, another 40 members practice both residential and commercial, with the remainder being appraisers who have joined to access comparables from the CMLS.
In 1987 a member (specializing in commercial only) of the Rock Island County Board (now the Illinois Quad City Area REALTOR® Association) opened dialogue with commercial brokers in Iowa about the potential for establishing a commercial organization in the Quad Cities. This evolved into an Ad Hoc Joint Task Force of the two boards. After much planning, discussion, negotiation, and misunderstandings the commercial division with a CMLS was adopted in mid 1988. Their biggest issue to overcome was a willingness to cooperate with each other, since each board stood to loose a significant level of dues income if these members left the board.
STRUCTURE
The primary service desired by members was a CMLS. They also were concerned about over structuring the group and creating additional "bureaucracy" in the association. Therefore, the group was organized around the framework of a joint venture CMLS. Each board appoints 3 members, serving staggered 3 year terms, to the CID/CMLS oversight Committee. They in turn select the chairman of the committee to operate the division for the next year. By tradition the chairmanship has rotated between the boards annually. The boards also try to have a member of the division's committee on their Boards' of Directors. The division does not have separate bylaws, but the CMLS does have its own rules and regulations.
Administrative services for the division are handled by the Illinois board, which also provides the CMLS. There are no additional fees to join the division. As part of the basic dues all members subscribe to their board's MLS. Members may elect to receive the CMLS in lieu of the residential MLS services, or subscribe to both. Annually the Quad City Board determines the CMLS fees to be charged to both boards. The Iowa Board sets its own dues level and passes through the CMLS fees it collects as part of its member dues.
MEMBER SERVICES
The group has surveyed their commercial membership to determine the services they want. The greatest problem they have with their current structure is that there is not a separate budget for the division, so all activities must be self supporting.
CMLS/ INFORMATION SYSTEM
One of the primary services desired by members of the division was a commercial multiple listing service. The system includes listings of properties for lease. Other services available on-line include:
Members of both Boards are required to put exclusive property listings in the appropriate MLS, commercial or residential regardless of their specialization. Their only weakness with the service is that they are unable to require local properties listed by REALTORS® outside the area to be entered in their system.
Quarterly breakfast Meetings
Breakfast meetings are held quarterly, and start off with a marketing period for members to exchange brochures and property information. Each meeting also includes a speaker on a topic of interest to members.
Professional Standards
Each Board has their own Ethics and Professional Standards committee to provide mediation/ arbitration services by a panel of industry peers in the Board where the property is located.
EXPO
The first annual EXPO was conducted in October, 1994. The program was open to residential and commercial practitioners from both Boards, with educational offerings meeting continuing education requirements in both states. A trade show with vendors offering products and services of interest to both groups was included. The program concluded with a banquet including the installation of next years officers.
Education
In addition to speakers at the breakfast meetings and periodic continuing education programs, they are offering NAR's Commercial & Investment Certificate Program.
Standard forms
One of the services requested by members is standard forms. A work group has attempted this assignment before, but to no avail because of the complexities of dealing with the laws of two states neither of which has any state required forms, and the disapproving counsel of lawyers who represent the individual firms.
Newsletter
The chairman of the group writes a commercial column for each Board's newsletter.
Member Discounts
The Board offers members discounts on cellular phones and several other affinity programs.
FUTURE
For the future they would like to organize the structure more formally, so that it has its own budget. They would also like to create a greater focus on legislative issues.
At the 1992 Annual Convention of the NATIONAL ASSOCIATION
OF REALTORS® the Board of Directors approved amendments
to the Constitution and Bylaws authorizing the establishment of commercial
overlay boards of REALTORS®.
A commercial overlay board involves a second level of territorial allocation by which non-residentially oriented boards of REALTORS® may be created. These boards co-exist and share geographic jurisdiction with existing boards and, in most cases, overlay several board jurisdictions. At the same time, the territory currently assigned to existing boards remains intact as well their right to provide services to their members.
Many local and state associations already provide meaningful programs and services for non-residential members through commercial divisions, societies, councils, etc., and those structures may continue to be the best solution in those areas. However, some boards have been unable to provide services to non-residential practitioners or have found it impractical because of the limited number of non-residential members. In such cases, a commercial overlay structure may strengthen the delivery of non-residential services and would also alleviate the pressure on existing boards to deliver services that may not be cost justified. It also affords greater visibility and respect in the corporate community and among commercial practitioners through its separate identity.
It is important to note that applicant groups or existing structures will not automatically be granted commercial overlay board status. They must go through a formal application process which requires:
The Application Procedures (Chapter 8) and Forms (Chapter 9) are provided in separate chapters. The Bylaws for a commercial Board are the same as those for any other Board. These are periodically revised by NAR's Board of Directors and are published as; Model Bylaws for Local Member Boards With REALTOR® and REALTOR®- Associate Membership (166-814), and Model Bylaws for Local Member Boards With All REALTOR® Membership (166-815). Complimentary copies are distributed to all Boards/Associations upon revision. Additional copies may be ordered from NAR's Customer Services at 1-(800) 874-6500. Questions may be referred to Member Policy at (312) 329-8399 or Commercial & Investment, (312) 329-8598.
Separate Divisions as a First Step
At the beginning of the 80's decade, the numbers and strength of leadership of our commercial members brought about a simple, but adequate form of reorganization for our Board. We established three Divisions: a Residential North Division, Residential South Division and the Commercial Division. These Divisions which had committee status in the Board were "governed" by elected Councils and the President of each of the Councils sat on the Board of Directors of the Atlanta Board. The primary purpose of these Divisions was to conduct specialized and appropriate educational programs for our members. It worked well and all of our members were pleased with the services and activities.
Evolution of the Society Concept
Some time later, REALTORS® in "special fields" other than residential felt that Boards throughout the country, including metro Atlanta, were directing a large percentage of Board resources to programs and services almost totally for residential members. Some of the thinking in this regard was due to the very large and active multiple listing services offered by most Boards. While the Atlanta Board did not have a multiple listing service and the financial benefits it generates, some of the commercial and industrial REALTORS® of the Board joined their colleagues in searching for a structure, that would respond to their business and professional needs.
Because there appeared to be a real need for such a group, various task forces were formed by NAR and GAR (our state association) to study the matter of more and greater involvement of commercial and industrial members. A local committee was appointed too. Many hours and meetings later, we decided that the Atlanta Board, should step out in front and develop an acceptable structure.
In the late summer of 1988, we met with Bill North, the then Executive Vice President of NAR and he encouraged us to move forward with our plans to form a group for commercial and industrial members within the jurisdictional structure of the Board. The combination of a great deal of time and much effort, resulted in a proposal for reorganization of the Atlanta Board of REALTORS® , Inc. which was approved by NAR.
Next, personal interviews were conducted with each member of the Board of Directors and Past Presidents enlisting their support for this major reorganization of the Board. It was adopted by an overwhelming majority. The new structure was put in place on January 1, 1989 and allowed for the Atlanta Society of Commercial REALTORS®, Inc. and the Atlanta Society of Residential REALTORS®, Inc. to be wholly owned subsidiaries of the Atlanta Board of REALTORS®, Inc., all within the territorial jurisdiction of the Atlanta Board. This structure worked extremely well, providing an emphasis on specialized services and professionalism, through the promotion of specialty designations, and member involvement.
A New Home
With the growth of Atlanta came considerable growth in membership in the Atlanta Board and the Board was rapidly outgrowing its headquarters. As in most organizations, the dream of home ownership was always on our minds. In 1986, land was purchased, plans were drawn and a beautiful new building was erected as the home of the Atlanta Board of REALTORS® Educational Foundation, Inc., its educational arm, as well as the Atlanta Board of REALTORS® and its two Societies.
The Commercial Board
A task force was appointed which reviewed and studied the possibility of a commercial overlay board. This task force came to the conclusion that it was in the best interest of all of the Commercial Society members as well as the Residential Society members to apply for overlay board status as soon as it was authorized by NAR.
Members wanted to continue involvement in the Educational Foundation, and maintain the pride of ownership of our beautiful building which has become the heart and hub of real estate activity in metro Atlanta. This brought about a search for a method to allow both commercial and residential members to continue to participate in the ownership and support of the Foundation as well as being headquartered in the Foundation's Building.
Approval by the Board of Directors of the Atlanta Board of REALTORS® was sought next, since the Atlanta Society of Commercial REALTORS® was a wholly owned subsidiary of the Atlanta Board of REALTORS®.
After receiving information from NAR on forming a new Board we agreed on 1.) the market area of the commercial/industrial members which is Atlanta's SMSA District consisting of 15 counties, 2.) a name for the new board, Greater Atlanta Commercial Board of REALTORS® , Inc., 3.) Drafted Bylaws, 4.) Presented a map of the proposed jurisdiction, 5.) Named the officers and directors of the new board, 6.) Prepared a list of REALTORS® (members of the Atlanta Society of Commercial REALTORS® ) who would be the applicants for the new Board.
Notification letters were then sent to all of the "affected" Boards in the 15 county area as well as to all contiguous Boards, including a number of individual members of the State Association where a Board did not exist, advising them of the intent to form a new commercial overlay board. Most Boards and individuals responded immediately. Boards which had not responded within thirty days were called, and we met with their representatives and explained our reason for organizing the new board (this was a natural evolution of the Atlanta Society of Commercial REALTORS® to a Board of their own), how we saw that it would affect their respective Boards and committed that we would not begin a membership campaign to "rob" them of members. We further explained that the "target" for a membership campaign would be non-REALTOR® brokers in the area. We had a very favorable response and our state association didn't receive a single objection from a Board or individual member.
Next the application was submitted to the Membership Committee and the Board of Directors at the State Association's Annual Meeting. It was approved unanimously by both groups.
Following this we requested to be on the agenda of NAR's Member Policy and Board Jurisdiction Committee and the Board of Directors at its next meeting. Our state association cooperated completely and all of the papers required from the state were forwarded to NAR in ample time. The application was again approved unanimously by both groups.
Upon approval by NAR, we still had to do the following: 1.) Apply for a Charter from the State of Georgia. (since the Atlanta Society of Commercial REALTORS® was already a state chartered organization, we only had to request a name change for the new organization), 2.) Restructure the Board by reestablishing the Residential Society as the 83 year old Atlanta Board of REALTORS® and merge the Commercial Society into the new overlay board.
A new non-profit, 501(c)(6) management company called Asset Management & Association Services, Inc. was chartered to service both Boards. All are housed in the building which is owned by the Atlanta Board of REALTORS® Educational Foundation, Inc. The Management Company is owned, equally, by the three entities: the Greater Atlanta Commercial Board of REALTORS® , the Atlanta Board of REALTORS®, and the Atlanta Board of REALTORS® Educational Foundation. The three entities entered into a very long-term (50 years) contract with the Management Company to provide all administrative services for the three entities. The lease for office space from the foundation for both Boards was assigned to the Management Company, as was all leased equipment and assessments, and the Past Presidents Library and its assessments. (A collection of fine furniture, antiques, and furnishings in the Board offices had already been given to the Foundation and are included in the rent).
The Management Company's Board of Directors (governing body) is the President, President-Elect and Treasurer of each of the three entities. The former staff of the Atlanta Board of REALTORS® (and its two Societies) are the personnel of the Management Company. The CEO is a staff member and will assign an Executive Vice President for each Board. In the long-range planning of the management company, it is hoped that the entities can contract for services with any other REALTOR® - family organization in the future should they so desire.
(The Atlanta Board of REALTORS® Educational Foundation, Inc. has a 501(c)(3) IRS status and is governed by a Board of Trustees which is comprised of: the President, the Immediate Past President and Treasurer of the Atlanta Board of REALTORS®, the Greater Atlanta Commercial Board of REALTORS® , the Dean of the Georgia Institute of Real Estate Board of Governors, (the Foundation's school), the building manager and six members at large).
Because of the success in this reorganization, we encourage all Boards who have a contingent of commercial REALTORS® to do the same thing and keep splinter groups from forming a commercial overlay Board.
| MEMBER SERVICES |
The following is a list of the most popular services offered
to commercial practitioners around the country. Before deciding to offer
any of these services a member needs assessment should be conducted to
determine what members want and the relative value of each to them. Additional
information on surveying and a sample survey instrument from one board
is contained in Chapter 6.
Another resource is the Executive Summary of the C&I Member Benefits/Services
Study conducted by the National Association which is in Chapter
10 - Additional
Resources. Once you have decided on one of
these services, you may want to talk to other commercial groups to find
out what has/has not made the particular service successful for them. Several
sample membership brochures promoting member services are included at the
end of this Chapter.
EDUCATION
Education programs can be offered to serve both the novice and more experienced members alike, by providing information on key issues and hot topics. The sessions can simply be topical presentations, or programs more specifically designed and targeted to meet the needs of each group individually. Courses providing basic skills may be offered to members just beginning or contemplating a career in commercial/investment real estate. Courses designed to provide very sophisticated skills and information can be offered to the more experienced members. Higher level continuing education courses that span a wide range of topics including legal issues, creative alternative financing and environmental risk can also be provided. The National Association and its Affiliate Institute, Societies, and Councils offer a number of opportunities for co-sponsoring programs including NAR's Commercial & Investment Certificate Program. The Commercial Investment Real Estate Institute, and the Society of Industrial and Office REALTORS® each offer speaker directories. NAR's Convention Education area is another source for speakers from its National Meetings.
FORUMS/ROUNDTABLES
An informal vehicle for members to discuss problems, exchange information, and promote networking. The flexible nature of these programs allows additional subjects to be added, and those which do not have great appeal to be skipped over. Discussion facilitators and participants structure the program to get what each want.
CONFERENCES/EXPOS
These are larger events which may include speakers, education programming and trade shows.
MARKETING SESSIONS
Members present information about their properties before a group. A time limit should be set for each presentation and allow for questions and answers. Moderators should facilitate the presentations to ensure essentials such as seller motivation and property advantages and disadvantages are discussed. A guide to planning and conducting a Marketing Session, written by California's CCIM Chapter, is available on request from NAR's C&I department.
PROPERTY TOURS
A prearranged tour of available properties conducted by members often via bus. May include a luncheon sponsored by one of the building owners.
COORDINATED ADVERTISING
Board coordinated placement of adds in local media for members. This may be done in conjunction with a marketing information system.
FLYER DISTRIBUTION SERVICE
The collation and distribution of marketing flyers submitted by members. Packets may organized by property type.
STANDARDIZED FORMS
Contracts, listing agreements, etc., developed and provided to members by the local group. These may be hard copy or offered in an interactive software format.
COMMERCIAL MULTIPLE LISTING SERVICE/ INFORMATION SYSTEM
A Commercial Listing Service (CLS) is a means by which a participant in the service makes offers of cooperation or subagency to the other participants and is a facility for the orderly correlation and dissemination of listing information among the participants, so that they may better serve their clients and the public.
The CLS is offered for members to join, however in joining there is usually a requirement of submitting all user properties to the CLS within a specified period of time of obtaining an exclusive listing of that property. Listings may be offered in book format or as an on-line service, or both. Most services include similar categories to the residential service, encompassing investment properties, user properties for sale and lease, and vacant land.
The Commercial Listing Exchange (CLE) is another alternative for sharing property information without offering subagency, and may include open listings. Other services may be packaged as part of the information system. A partial listing includes:
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Additional information on this service is contained in an article at the end of this chapter. The Handbook on Multiple Listing Policy Commercial/Industrial Supplement (#104B) is a source for Bylaws and Rules & Regulations.
LIBRARY SERVICES
A collection of books, periodicals, and other materials available to members for education and research. This may include demographic, economic, and tax records unless available on line. NAR's library offers a recommended package of books for the commercial board/association library.
NEWSLETTERS
A regular publication is essential to the continuing effectiveness of the group/committee and should communicate the following:
Sample newsletters are located at the end of this section.
ORIENTATION PROGRAM
A program offered to welcome and orient new commercial members to the Board/Association. A sample agenda for an orientation program is provided in Chapter 10.
MEMBER DIRECTORY
Roster or directory of members of the commercial group. May include specialty information and photos.
LOGO
A graphic design identifying the group and its members which may be used on cards and stationery.
RECOGNITION PROGRAMS
Recognition programs for commercial/investment members can be designed to honor practitioners who have attained a high level of success in the industry. Some examples of existing programs include one for the most outstanding commercial transaction completed during the year and/or a "Million Dollar Club" which could be based on personal production of at least one million dollars in real estate transactions in a given year.
PEER ARBITRATION
Offering a separate panel of commercial specialists for mediation and arbitration.
AFFINITY PROGRAMS
Group volume buying power discounts for members on such products as: cellular phones, computer equipment, E&O Insurance, signs, etc.
LEGISLATIVE ACTIVITIES
A Governmental Affairs Committee/Subcommittee may be formed for the purpose of monitoring local, state and federal governmental issues affecting commercial real estate. If the committee/subcommittee determines that the issue requires either the support or opposition from the Association, the committee/subcommittee chairman will forward the request to the appropriate public affairs group to study and present before the Board of Directors. The committee/subcommittee is encouraged to form coalitions with other groups such as the National Association of Industrial and Office Parks (NAIOP), Building Owners and Managers Association (BOMA), and the International Council of Shopping Centers (ICSC).
In exploring various benefits to provide commercial REALTORS®,
a commercial MLS service often comes to mind. The preferred term "Commercial
Listing Service" (CLS) compiles commercial listings and sold data
and displays the data via a published book and/or an on-line computer system.
To further provide a valuable commercial service, the Denver Board of REALTORS®
recently introduced (after two years of planning) an on-line service to
augment the existing CLS book. Through our experience, we offer the following
tips to cut down your Board's planning time.
To establish a Commercial Listing Service, there are three basic steps a Board should complete before implementation: 1) make the decision to move forward and plan your course of action; 2) survey the membership to determine their needs and willingness to pay; and 3) solicit vendor proposals, analyze the financial impact of the alternatives, select a vendor, and negotiate the contract.
Most likely, the decision making process will begin with a group of commercial oriented volunteers who recognize the advantages of a CLS. The two main reasons for a commercial service are the ability to quickly search a convenient source to find accurate information and to be able to demonstrate to a client that the agent, by means of these valuable selling tools, exposes the client's property to a wide range of commercial practitioners.
Planning a course of action entails defining the service, estimating costs, and mapping out a time table for implementation. Questions which should be addressed include how elaborate a system do the members want? Do they want to start out with a book and later put the data on-line or do they want to have both now? Have they determined what information is mandatory and should be included in the easy to use listing forms and computer display? What will be the participants' rules and regulations? Is an Exclusive Right-To-Sell Agreement mandatory? Will all the listings be required to be included in the database? How will the Board handle billing: flat fee or a menu charge? What organizational steps need to be accomplished and when? How will the start up expenses be covered and how much are the monthly costs? What will be the Board's net profit? Like many strategic plans, there is need for flexibility. The answers to these questions will undoubtedly change as the final product is tailored to fit the members' needs.
Measuring the demand for such a service is the next crucial step. Survey the membership to determine their need and willingness to pay the costs. Prepare and distribute a survey explaining why the committee is moving forward, the advantages of a CLS, and the definition of the anticipated service. If you have done your homework, you will have a reasonable idea of what this program may cost. Therefore, ask the members in what price range they would be willing to pay for this service (your estimated price should be at the lower end of the scale). Ask the members what they want this system to provide and would they commit themselves to using the service now. The Denver Board had a CLS Book in operation for several years but we discovered, not surprisingly, that there was a tremendous demand from both the large firms and independent brokers to put the data on-line, at a price much lower than the committee originally estimated. Members often want more service than they are willing to pay for.
If the survey results indicate taking the next step, soliciting a vendor is not difficult as long as the service specifications are well defined. Some would highly recommend hiring a consultant to write a Request For a Proposal report. The RFP usually involves an additional cost and is sent to selected vendors outlining your objectives. A detailed, well-prepared RFP will lead to realistic bids, make it easier to compare vendors, and help in negotiating the final contract.
Selecting a vendor is like picking a spouse: be careful. Although MLS and CLS requirements are different, do not overlook the local MLS vendor. In many cases, they already understand the Board's needs and have experience producing and delivering the data locally. Try to select a vendor whose software has been proven and easy to use. If the software is new, make sure the vendor is strong enough to back up its product and will give additional service and support. The Denver Board chose Moore Data Systems as the vendor but there are other vendors your Board may wish to consider such as PRC, Boris, and Realtron. The Denver Board's CLS operates using Yardi software; we found it is less expensive to adopt existing software rather than have a special software program created.
Costs, of course, are a constraint and there are basically two approaches. The more expensive route is to find a full service vendor who takes care of almost everything including computer operation, book publication, photograph taking, form printing, book delivery, and data input. A less expensive approach is to provide in-house service and sub-contract the photography, printing of forms, book publication and delivery. In considering this approach, do not forget the cost of staff time. Both approaches may initially require additional expenses such as legal fees and the Denver Board hired a coordinator to supervise implementation, marketing, and training of members and staff. To facilitate our operation, we have one staff person who spends about 50% of her time putting listings into the system and making changes for those subscribers who are not on-line. We also maintain a CLS Committee to address any policy changes.
Our bare bones system cost roughly $4,500 per month including a five-year installment PC payment, maintenance, software, books, phone lines, forms, book delivery, and photography expenses. Our start up costs were approximately $19,700, most of which were attributed to legal fees and a paid coordinator. Currently, the Denver Board nets approximately $2,500 per month and our inventory has remained steady at around 1200 listings. Since inception in November of 1990, the overall response from the members has been very favorable. CLS Book sales have increased about 25% (250 per month) and the number of participating broker offices has increased 24%. Our goal is to place 30% of our commercial office users on-line by the end of December, 1991; currently we are at 21%.
In the book 20/20 Vision, Stan Davis and Bill Davidson equate "Informationalization with shrinking overhead, and working capital; higher service standards; interorganizational bonding and globalization." By introducing a CLS system, the commercial specialists in your Board will have an extra edge to accomplish all of these goals in a highly competitive market place. According to 20/20 Vision, more real estate information (such as the CLS data base) will be shared with buyers and sellers by the year 2010, expanding the agent's market globally, increasing sales, and placing more demand on the agent's ability to mediate buyer/seller differences. While there are many considerations to establishing a commercial listing service, its expanded use is the first step into the 21st century.
This article was formerly published in The Executive Officer Magazine
| MEMBER NEEDS SURVEY |
One of the first steps which will guide the direction of
a commercial structure in a local Board/ Association is to first determine
the practitioner base, and, then assess the needs and priorities of that
segment of the membership. A survey becomes the critical tool to generate
the information on which services relevant to the needs of the practitioners
of that specific market area can be created.
The results of a properly designed survey will create a "needs" profile of the market segment targeted for services, and will clarify what percentage of the members (and non-members) specialize in exchanging vs. property management; industrial sales vs. business brokerage; or residential investment property brokerage vs. land development; and all the subsegments of each of these specialties. This market clarification is critical to the creation of relevant services that can be marketed to each segment. It also provides helpful information on which association structure could best serve this segment of the real estate market.
As the budget is prepared to undertake the survey process, appropriate resources should be allocated to surveying not only current members of the Association but all commercial investment practitioners in the market area. Clearly current members are the most important, but the involvement of potential members performs a valuable recruitment step plus provides a clearer picture of the total market for any specific service or services. Identification of these practitioners can be accomplished using resources such as telephone directories, other associations, current members, observing signs on commercial properties, newspapers, and so on. After developing the total survey population a determination can be made regarding the potential value of coding survey results by specialty, and by members vs. non-members. If there are high percentages specializing in certain areas, there may be value in segmenting, or coding surveys to monitor results by specialty. This could provide a clearer picture of which groups (s) might be interested in which services.
There are a number of survey techniques from which to choose; usually determined by the size of the group, budget, accuracy/variance parameters and other considerations. The survey process and technique(s) can be as basic or as complex, as inexpensive or as costly, as the Association desires. Some Associations may choose to computerize the survey and its results, others perhaps not. Some may choose to utilize outside consultants, still others may wish to record and analyze results internally. The purpose of this section is not to define and evaluate specific survey tools, or to provide specific direction as to process and size of budget. Any technique or budget will produce results which will prove beneficial. The lack of significant financial resources should not preclude an Association from undertaking the survey process. Several examples which have been used successfully include focus groups, written surveys, and telephone surveys. Some have included written surveys within the Association's newsletter with a fold, seal and return self-mailer. Others have creatively used techniques which increased the return of written surveys such as a gift certificate to attend an education program; and entry of early respondents into a raffle with a large cash prize. A great deal of fun and excitement can be incorporated into the process with a little imagination.
The survey can provide a wealth of information on services which commercial investment members want; from education programming to product and publication availability; from on-line computer services to preparation/distribution of property marketing materials and many more. A survey can inquire on these areas as well as how commercial investment practitioners feel these services should be paid for (e.g. separate CI dues, user fees, etc.). Based on the number of responses by specialties the survey can also be used to establish service priorities which should be addressed first in the budget process.
Prior to implementing a survey process, the very first step must be a commitment by the Association to utilize the results of the survey. Too often surveys and studies are conducted but the results never incorporated into the organizations planning process. It is extremely important that the Association's leadership commit, up front, to utilizing the results by incorporating the findings into the Association's planning/budgeting process. Just as today, most Association's establish strategic plans which are incorporated into the planning, nominating and budget processes, the commercial investment survey should be treated no differently. Conducting a survey raises member expectations. A survey should not be undertaken unless there is a commitment to developing some programming as a result.
The survey instrument can be designed to any set of needs, questions or expectations. The attached sample is only a general guide which may be helpful in tailoring a survey to any Association's objectives.
| MODEL Bylaws, Rules and Regulations |
Model Bylaws, and Rules & Regulations for each of the
approved structure types are included in this Chapter. Any modifications
to these documents should be reviewed by NAR's Board Policy and Programs
area, as well as the Board's legal counsel.
NOTE: Commercial Boards utilize the same Model Bylaws as other Boards. These are periodically revised by NAR's Board of Directors and are published as; Model Bylaws for Local Member Boards With REALTOR® and REALTOR®- Associate Membership (166-814), and Model Bylaws for Local Member Boards With All REALTOR® Membership (166-815). Complimentary copies are distributed to all Boards/Associations upon revision. For these reasons we have not included them here. Additional copies may be ordered from NAR's Customer Services at 1-(800) 874-6500. The following are also available on disk:
Article _____
Section 1. Authority. The Board of REALTORS® shall operate a Commercial Division (CID) for the use of its members, which shall be subject to the bylaws of the Board of REALTORS® and such rules and regulations as may be hereinafter adopted.
Section 2. Purpose. The purpose of the Division shall be to provide specialized services to Board Members engaged in commercial real estate.
Section 3. Membership. Membership in the Commercial Division is available to all REALTOR®, REALTOR-ASSOCIATE® (if applicable) members (primary or secondary) of the Board without further qualification, except as stipulated in the rules and regulations*, upon agreeing in writing to conform to the rules and regulations of the division and to pay the costs incidental thereto.
*Boards may establish prerequisites for membership in the CID beyond those ordinarily required for membership in a Board of REALTORS®. However, if the CID operates a multiple listing service, participation in the MLS must be available to all REALTOR® members of this or any other board who are principals, partners, corporate officers, or branch managers acting on behalf of principals, as defined in Section 7.9, Handbook on Multiple Listing Policy (#104B).
Further, the Board may, at its option, offer CID membership to otherwise qualified members of contiguous (or non-contiguous) Member Boards of the National Association who hold membership in their primary Board.
Section 4. Supervision. The Commercial Division shall be operated under the supervision of the Commercial and Investment Committee in accordance with the rules and regulations, subject to the approval of the Board of Directors.
Section 5. Appointment of Committee. The President shall appoint, subject to confirmation by the Board of Directors, a Commercial and Investment Committee of _____ Members. The committee Members so named shall serve two-year terms. The Committee shall select its Chairman from among the members thereof. (The Chairman may also be designated by the President.)
Section 6. Vacancies. Vacancies in unexpired terms shall be filled as in the case of original appointees.
Section 7. Attendance. Any Committee Member who fails to attend three (3) consecutive regular or special meetings of the Committee, without excuse acceptable to the Chairman of the Committee, shall be deemed to have resigned from the Committee and the vacancy shall be filled as herein provided for original appointees.
Article _____
Section 1. Authority. The Board of REALTORS® shall maintain for the use of its members a Commercial Division which shall be a lawful corporation of the state of ____________, all the stock of which shall be owned by this Board of REALTORS®.
Section 2. Purpose. The purpose of the Division shall be to provide specialized services to Members engaged in commercial real estate.
Section 3. Membership. Membership in the Commercial Division is available to all REALTOR®, REALTOR-ASSOCIATE® (if applicable) members (primary or secondary) of the Board without further qualification, except as stipulated in the rules and regulations*, upon agreeing in writing to conform to the rules and regulations of the division and to pay the costs incidental thereto.
*Boards may establish prerequisites for membership in the CID beyond those ordinarily required for membership in a Board of REALTORS®. However, if the CID operates a multiple listing service, participation in the MLS must be available to all REALTOR® members of this or any other board who are principals, partners, corporate officers, or branch managers acting on behalf of principals, as defined in Section 7.9, Handbook on Multiple Listing Policy (#104B).
Further, the Board may, at its option, offer CID membership to otherwise qualified members of contiguous (or non-contiguous) Member Boards of the National Association who hold membership in their primary Board.
Section 4. Governing Documents. The Board of Directors shall cause any Commercial Division established by it pursuant to this Article to conform its corporate Charter, Constitution, Bylaws, Rules, Regulations, Policies, Practices, and Procedures; at all times to the Constitution, Bylaws, Rules, Regulations, and Policies of the NATIONAL ASSOCIATION OF REALTORS®.
ARTICLE 1 - Name
The name of this organization shall be the Commercial Division of the __________ Board of REALTORS®, Inc., hereinafter referred to as the Division or CID, all of the shares of stock which are solely and wholly-owned by the __________ Board of REALTORS®.
ARTICLE 2 - Purpose
The purpose of the Division shall be to provide specialized services to Members engaged in commercial real estate.
ARTICLE 3 - Membership
A. Membership Defined Membership in the Commercial Division is available to ALL REALTOR®, REALTOR-ASSOCIATE® (if applicable) members (primary or secondary) of the Board without further qualification, except as stipulated in the rules and regulations*, upon agreeing in writing to conform to the rules and regulations of the division and to pay the costs incidental thereto.
*Boards may establish prerequisites for membership in the CID beyond those ordinarily required for membership in a Board of REALTORS®. However, if the CID operates a multiple listing service, participation in the MLS must be available to REALTOR® members of this or any other board who are principals, partners, corporate officers, or branch managers acting on behalf of principals, as defined in Section 7.9, Handbook on Multiple Listing Policy (#104B).
Further, the Board may, at its option, offer CID membership to otherwise qualified members of contiguous (or non-contiguous) Member Boards of the National Association who hold membership in their primary Board.
ARTICLE 4 - Dues
Dues and fees for membership in the Division shall be as determined, and as amended from time to time by the Board of Directors of the Division, and specified in the Rules and Regulations of the Division.
ARTICLE 5 - Governing Body
A. Government of the Division The government of the Division shall be vested in a CID Board of Directors comprised of the elected Officers and Directors nominated and elected as described in this Article.
B. Officers of the Division The Officers of the Division, who shall also be Directors, shall be a President, Vice President, and Secretary-Treasurer, and shall have such duties as described in this Article.
C. Board of Directors of the Division There shall be a total of ______ elected Directors, including the President, Vice President, and Secretary-Treasurer of the Division, to be elected from among the members of the Division. In addition to the elected Directors, the current President of the ____________ Board of REALTORS® or a person appointed by the President, and the Immediate Past President of the Division shall serve as Directors, ex officio, with full voting privileges.
D. Nomination and Election of Officers and Directors The Officers and Directors of the Division shall be nominated by a vote of the members in the Division in accordance with the provisions of Article 6, Meetings, of these Bylaws and as further set forth following:
1. Nominating Committee. The President of the Division shall appoint a Nominating Committee each year which Committee shall be comprised of ______ members of the Division. The appointment of the Nominating Committee shall be made by such a date as to enable the Committee to meet and select a proposed slate of Officers and Directors of the Division not more than ______ nor less than ______ , days prior to the date of the meeting of the members of the Division at which nominees shall be selected by vote of the members. The proposed slate of Officers and Directors shall be reported to the President and Secretary of the Division.
2. Notice of Proposed Nominees. The President shall cause a list of the proposed nominees selected by the Nominating Committee to be forwarded to the Members of the Division, setting forth the time, place, and other pertinent conditions of the meeting to select the final list of nominees by vote of the Members of the Division. The notice to the Members of the Division concerning the meeting to select nominees for Officers and Directors shall be mailed on a date at least ______ days prior to the proposed meeting.
3. Rights of Participants to Select Additional Nominees. The name of additional proposed nominees may be added to the list selected by the Nominating Committee by a petition submitted to the Secretary of the Division by ______ % of the Members of the Division, with said petition received not less than ______ days prior to the date of the meeting of the Members to select nominees for Officers and Directors. The names contained in such petition, if duly received and certified, shall be presented in writing to the Members at the meeting to select nominees as additional nominees for consideration for such office as specified in the petition. In addition, nominations may be made from the floor at the duly noticed meeting of the Members to select nominees for Officers and Directors and, if seconded, shall be added to the list of proposed nominees.
4. Voting by Written Secret Ballot. Voting for selection of nominees, if other than on a motion to cast a unanimous vote for the original proposed slate shall be by secret ballot, and said ballot shall contain blank spaces for writing in additional names proposed by petition or from the floor at the meeting to select nominees.
5. Vote to Select Nominees. Voting shall be in accordance with provisions of Article ______ of these Bylaws.
6. Nominees Submitted to Shareholder for Election. When nominees for Officers and Directors of the Division for the forthcoming fiscal year have been selected by vote of the Members of the Division, such nominees shall be submitted to the Board of Directors of the ____________ Board of REALTORS® (shareholder) for election pursuant to
Article ______, Section ______, of the Bylaws of the ____________ Board of REALTORS®. Upon election by the board of directors of the ____________ Board of REALTORS® (shareholder), the individuals so elected shall be considered Officers-Elect and Directors-Elect and shall assume their respective offices on (date office is effective).
The term of office for Officers and Directors of the Division shall be on a calendar year basis. In the event one (1) or more nominee(s) is/are not elected by the Board of Directors of the ____________ Board of REALTORS® (shareholder), and upon notice of such failure of election, the President of the Division shall select a proposed Member or Members, as required, subject to confirmation by the ____________ Board of Directors, for submission as nominee(s) to the Board of Directors of the Board of REALTORS® (shareholder) to be considered for election to fill the vacancy or vacancies existing.
In the event that nominees are not duly and timely provided by the Division to the Board of Directors of the ____________ Board of REALTORS®, as provided in these Bylaws, then the Board of Directors of the ____________ Board of REALTORS® shall exercise rights as sole and exclusive shareholder to elect a Member or Members of the Division to fill an existing vacancy or vacancies as Officers or Directors of the Division.
E. Term of Office
The Officers shall serve for a one-year term. The elected Directors shall serve for staggered three-year terms with one-third of the terms expiring each year. Officers and Directors shall take office upon the effective date of their office and shall continue until their successors are elected, qualified, and installed. No Officer or Director shall be nominated and elected to the same office for more than two consecutive terms.
F. Duties of Officer and Directors The duties of the Officers and Directors shall be as follows:
1. The President shall be the chief executive officer of the Division and shall preside at its meetings and those of the Board of Directors, and shall perform all the duties of President subject to declared policies and, as required, subject to confirmation of the Board of Directors.
2. The Vice President shall, in the absence of the President, perform all of the duties of the President.
3. The Secretary-Treasurer shall be the custodian of the funds of the Division and shall keep an accurate record of all receipts and disbursements. The Secretary-Treasurer shall provide to all Members of the Board of Directors a quarterly statement of all accounts and financial affairs for the Division, and shall have charge of the corporate seal and affix the name to all documents properly requiring such seal.
4. The Board of Directors of the Division shall be the governing body of the Division and shall have control of all affairs of the Division and shall authorize all expenditures of funds. The Division Board of Directors shall, prior to the end of each fiscal year, prepare a budget reflecting projected costs and expenses of the Division for the next fiscal year, indicating projected income from all sources. The budget shall be submitted to the Members of the Division for approval on a date not less than ______ days prior to the first day of the next fiscal year. The Division Board of Directors shall not incur an obligation in excess of $______ over the total budget without the authorization by vote of a two-thirds majority of Members of the Division present and voting. The Division Board of Directors shall employ such executive, legal, and office personnel it seems necessary to care for and maintain the properties of the Division and otherwise conduct the administrative business of the Division. The Division Board of Directors shall have the right to make an audit of all books and accounts at any time without notice. The Division Board of Directors shall have the power from time to time to adopt such Rules and Regulations that they may deem appropriate subject to final approval of the Board of Directors of the
____________ Board of REALTORS® (shareholder). Except as otherwise provided in these Bylaws and Rules and Regulations, the action of the Division Board of Directors shall be final.
ARTICLE 6 - Meetings
A. Annual Meetings. The Annual meeting of Members of the Division shall be held during the month of ______ at the time and place specified by the Division Board of Directors.
B. Special Meetings of the Division. Special meetings of Members of the Division may be called from time to time by the President, the Division Board of Directors, or by ______ % of the Members of the Division. Written notice stating the day, place, and hour of the meeting, the purpose or purposes for which the meeting is called, shall be delivered to all Members in the Division not less than ______ days prior to said meeting.
C. Quorum and Voting at Meetings of the Division. For the transaction of business, ______ % of the Members of the Division shall be considered a quorum. A majority vote by such Members present and voting at a meeting of the Division attended by a quorum shall be required for passage of motions.
D. Meeting of the Board of Directors of the Division. The Board of Directors may meet at any time it deems advisable on the call of the President or any ______ Members of the Board of Directors. ______ Directors shall constitute a quorum. A majority vote by the Directors present and voting at a meeting attended by a quorum shall be required for passage of motions.
E. Presiding Officer. At all meetings of the Members of the Division, or of the Division Board of Directors, the President or, in the absence of the President, the Vice President shall serve as presiding officer. In the absence of the President and Vice President, the President shall name a temporary Chairman or, upon his failure to do so, the Board of Directors of the Division shall appoint a temporary Chairman.
ARTICLE 7 - Committees
The President, with the approval of the Division Board of Directors, shall create such standing or Ad Hoc Committees as he deems desirable and shall appoint their Members. Each Committee shall consist of not less than ______ Members in the Division.
ARTICLE 8 - Fiscal Year
The fiscal year of the Division shall commence on ____________ and shall end on ____________.
ARTICLE 9 - Amendments
A. Amendments to Bylaws. Amendments to these Bylaws shall be by the Members of the Division, and shall be determined at an Annual Meeting or Special Meeting of the Division in accordance with the provisions of Article ______ concerning Meetings of the Division. Amendments to the Bylaws of the Division approved by the Members shall further be subject to approval of the Board of Directors of the ____________ Board of REALTORS® (shareholder).
When amendments to the Bylaws of the Division have been approved by the Board of Directors of the Board of REALTORS® (shareholder), said amendments shall be effective immediately or as stated in the amending resolution.
If the proposed amendments to the Bylaws of the Division fail approval of the Board of Directors of shareholder, the Board of Directors of the Division shall be informed, and advised that the proposed amendment or amendments must be further considered and resubmitted to shareholder as approved by Members of the Division.
ARTICLE 10 - Dissolution
In the event this Division shall at any time terminate its activities, the Board of Directors of the Division shall consider and adopt a plan of liquidation and dissolution with the approval of the Members thereof and the Board of Directors of the ____________ Board of REALTORS® (shareholder). Said plan shall provide for the collection of all assets, the payment of all liabilities, and the remaining portions thereof be assigned to the parent corporation, namely, ____________ Board of REALTORS®.
ARTICLE I - Name
Section 1. The name of this organization shall be the Commercial Division of the ____________ Board of REALTORS®, hereinafter referred to as the Division or CID.
ARTICLE II - Objectives
Section 1. The objectives of the Commercial Division shall be:
(a) To unite those engaged in commercial real estate for the purpose of exerting a beneficial influence upon the profession and related interests.
(b) To promote and maintain high standards of conduct in the commercial real estate profession as expressed in the Code of Ethics of the NATIONAL ASSOCIATION OF REALTORS®.
(c) To provide a unified medium for commercial real estate owners and those engaged in the commercial real estate profession whereby their interests may be safeguarded and advanced.
(d) To provide a forum for interacting with other commercial practitioners and to provide educational opportunities to advance the level of professionalism.
(e) To address public policy issues that affect the sale, exchange, leasing or development of commercial investment/industrial property.
ARTICLE III - Membership
Section 1. Membership in the Commercial Division is available to all REALTOR®, REALTOR-ASSOCIATE® (if applicable) members (primary or secondary) of the Board without further qualification, upon agreeing in writing to conform to the rules and regulations of the division and to pay the costs incidental thereto.
(NOTE: Boards may establish prerequisites for membership in the CID beyond those ordinarily required for membership in a Board of REALTORS®. However, if the CID operates a multiple listing service, participation in the MLS must be available to all REALTOR® members of this or any other board who are principals, partners, corporate officers, or branch managers acting on behalf of principals, as defined in Section 7.9, Handbook on Multiple Listing Policy (#104B).
Further, the Board may, at its option, offer CID membership to otherwise qualified members of contiguous (or non-contiguous) Member Boards of the National Association who hold membership in their primary Board.
Section 2. Application for membership shall be made in such manner and form as may be prescribed by the C & I Committee. The application form shall contain a signed statement agreeing to abide by the Rules and Regulations of the Division as from time to time amended.
(a) The Division may adopt an application fee in reasonable amount, which shall be required to accompany each application for membership and which shall become the property of the Division upon final approval of the application.
Section 3. Members of the Division may withdraw from membership by giving the Division ______ days written notice and may reapply to the Division after months by making formal application in the manner prescribed for new applicants for membership provided all past dues and fees are fully paid.
ARTICLE IV - Dues, Fees, and Assessments
Section 1. The annual dues of each member shall be $______.
(NOTE: Some Commercial Divisions may prefer to stipulate dues requirements without a stated dollar amount in the following manner: "The annual dues of each member shall be in such amount as established annually by the C & I Committee, subject to approval by the Board of Directors.")
Section 2. Dues for all members shall be payable annually in advance on the first day of ______ . Dues shall be computed from the first day of the quarter in which the member is elected to membership and shall be prorated for the remainder of the year.
Section 3. For failure to pay any dues, fees, or assessments, the provisions of Article ______, Section ______, of the Board's bylaws shall apply.
ARTICLE V - Enforcement of Rules
Section 1. Consideration of alleged violations. The C & I Committee shall give consideration to all written complaints from members having to do with violations of the Rules and Regulations.
Section 2. Violations of Rules and Regulations. If the alleged offense is a violation of the Rules and Regulations of the Division and does not involve a charge of alleged unethical conduct or request for arbitration, it may be considered and determined by the C & I Committee, and if a violation is determined, the Committee may direct the imposition of sanction, provided the recipient of such sanction may appeal it to the Professional Standards Committee of the Board for a hearing by the Professional Standards Committee in accordance with the Bylaws of the Board of REALTORS®.
Section 3. All other complaints of unethical conduct shall be referred by the Committee to the Secretary of the Board of REALTORS® for appropriate action in accordance with the professional standards procedures established in the Board's Bylaws.
ARTICLE VI - Meetings
Section 1. Meetings of C & I Committee. The C & I Committee shall meet for the transaction of business at a time and place to be determined by the Committee or at the call of the Chairman. ______ committee members shall constitute a quorum. A majority vote by the committee members present and voting at a meeting attended by a quorum shall be required for passage of motions.
Section 2. Meetings of CID Members. The Committee may call meetings of the Members in the Division to be known as meetings of the Commercial Division. For the transaction of business, ______ % of the members of the Division shall be considered a quorum. A majority vote by such members present and voting at a meeting of the Division attended by a quorum shall be required for passage of motions.
Section 3. Conduct of the Meetings. The Chairman, or Vice Chairman, shall preside at all meetings or, in their absence, a temporary Chairman from the membership of the Division shall be named by the Chairman or, upon his failure to do so, by the Committee.
ARTICLE VII - Amendments to the Rules and Regulations
Section 1. Amendments to the Rules and Regulations of the Division shall be by a ______ vote of the members of the C & I Committee, subject to approval by the Board of Directors of the Board of REALTORS®.
(NOTE: Some Commercial Divisions may prefer to amend the Rules and Regulations by a vote of the members of the division subject to approval by the Board of Directors of the Board of REALTORS®.)
ARTICLE I - Name
Section 1. The name of this organization shall be the Commercial Division of the ____________ Board of REALTORS®, Inc., hereinafter referred to as the Division or CID.
ARTICLE II - Objectives
Section 1. The objectives of the Commercial Division shall be:
(a) To unite those engaged in commercial real estate for the purpose of exerting a beneficial influence upon the profession and related interests.
(b) To promote and maintain high standards of conduct in the commercial real estate profession as expressed in the Code of Ethics of the NATIONAL ASSOCIATION OF REALTORS®.
(c) To provide a unified medium for commercial real estate owners and those engaged in the commercial real estate profession whereby their interests may be safeguarded and advanced.
(d) To provide a forum for interacting with other commercial practitioners and to provide educational opportunities to advance the level of professionalism.
(e) To address public policy issues that affect the sale, exchange, leasing or development of commercial investment/industrial property.
ARTICLE III - Membership
Section 1. Membership in the Commercial Division is available to all REALTOR®, REALTOR-ASSOCIATE® (if applicable) members (primary or secondary) of the Board without further qualification, upon agreeing in writing to conform to the rules and regulations of the division and to pay the costs incidental thereto.
(NOTE: Boards may establish prerequisites for membership in the CID beyond those ordinarily required for membership in a Board of REALTORS®. However, if the CID operates a multiple listing service, participation in the MLS must be available to all REALTOR® members of this or any other board who are principals, partners, corporate officers, or branch managers acting on behalf of principals, as defined in Section 7.9, Handbook on Multiple Listing Policy (#104B).
Further, the Board may, at its option, offer CID membership to otherwise qualified members of contiguous (or non-contiguous) Member Boards of the National Association who hold membership in their primary Board.
Section 2. Application for membership shall be made in such manner and form as may be prescribed by the Division Board of Directors. The application form shall contain a signed statement agreeing to abide by the Rules and Regulations of the Division as from time to time amended.
(a) The Division may adopt an application fee in reasonable amount, which shall be required to accompany each application for membership and which shall become the property of the Division upon final approval of the application.
Section 3. Members of the Division may withdraw from membership by giving the Division ______ days written notice and may reapply to the Division after months by making formal application in the manner prescribed for new applicants for membership provided all past dues and fees are fully paid.
ARTICLE IV - Dues, Fees, and Assessments
Section 1. The annual dues of each member shall be $______.
(NOTE: Some Commercial Divisions may prefer to stipulate dues requirements without a stated dollar amount in the following manner: "The annual dues of each member shall be in such amount as established annually by the Division Board of Directors, subject to approval by the Board of Directors of the ____________ Board of REALTORS®.")
Section 2. Dues for all members shall be payable annually in advance on the first day of ______ . Dues shall be computed from the first day of the quarter in which the member is elected to membership and shall be prorated for the remainder of the year.
Section 3. For failure to pay any dues, fees, or assessments, the provisions of Article ______, Section ______, of the bylaws of the ____________ Board of REALTORS® shall apply.
ARTICLE V - Enforcement of Rules
Section 1. Consideration of alleged violations. The Division Board of Directors shall give consideration to all written complaints from members having to do with violations of the Rules and Regulations.
Section 2. Violations of Rules and Regulations. If the alleged offense is a violation of the Rules and Regulations of the Division and does not involve a charge of alleged unethical conduct or request for arbitration, it may be considered and determined by the Division Board of Directors, and if a violation is determined, the Directors may direct the imposition of sanction, provided the recipient of such sanction may appeal it to the Professional Standards Committee of the Board of REALTORS® for a hearing by the Professional Standards Committee in accordance with the Bylaws of the Board of REALTORS®.
Section 3. All other complaints of unethical conduct shall be referred by the Division to the Secretary of the Board of REALTORS® for appropriate action in accordance with the professional standards procedures established in the Board's Bylaws.
ARTICLE VI - Amendments to the Rules and Regulations
Section 1. Amendments to the Rules and Regulations of the Division shall be by consideration and approval of the Board of Directors of the Division in accordance with the provisions of
Article ______, Section ______, of the Division Bylaws, concerning meetings of the Board of Directors, subject to approval by the Board of Directors of the ____________ Board of REALTORS®.
When amendments to the Rules and Regulations have been approved by the Board of Directors of the Board of REALTORS® (shareholder), said amendments shall be effective immediately or as stated in the amending resolution.
If the proposed amendments to the Rules and Regulations of the Division fail approval of the Board of Directors of shareholder, the Board of Directors of the Division shall be informed, and advised that the proposed amendment or amendments must be further considered and resubmitted to shareholder as approved by the Board of Directors of the Division.
(NOTE: Some Commercial Divisions may prefer to amend the Rules and Regulations by a vote of the members of the division subject to approval by the Board of Directors of the Board of REALTORS®.)
AGREEMENT BETWEEN
___________________________________, AND ___________________________________
I. AUTHORITY
A. The authority for the establishment of a multi-Board (or regional) Commercial Division shall be established by this agreement approved by the Boards of Directors of ____________ and ____________ Boards of REALTORS® and confirmed by approval of the general membership at a duly called meeting with notice as required by the Boards' Bylaws.
II. GEOGRAPHIC AREA
A. The geographic area served by this Agreement shall be the area of the combined territorial jurisdiction assigned by the NATIONAL ASSOCIATION OF REALTORS® to the Boards which are signatories to this Agreement.
III. PURPOSE AND OBJECTIVES
A. The purpose of this Agreement is to create a multi-Board (or regional) Commercial Division to provide specialized service to commercial practitioners who are REALTOR® members (primary or secondary) of the Boards which are signatories to the Agreement. Further, the objectives of the Commercial Division are:
1. Develop an effective Commercial group that will attract new members and provide them with programs that will assist them in becoming more successful commercial practitioners.
2. Provide a forum to discuss areas of interest to commercial specialists.
3. Offer professional educational programs, seminars, and courses which will keep members current on vital issues pertaining to all commercial real estate, thus enabling them to better serve the public.
4. Monitor, research and recommend action to the Board of Directors of the signatory Boards on matters that affect commercial real estate.
5. Provide liaison with other industry groups in the commercial field, i.e. Building Industry Association, Apartment Association, Bar Association, etc.
6. Promote professional designations available through the Institutes, Societies, and Councils of the NATIONAL ASSOCIATION OF REALTORS®.
IV. SUPERVISION
A. The Commercial Division shall be operated under the supervision of the Commercial Committee in accordance with the Rules and Regulations, subject to the approval of the Boards of Directors of the signatory Boards.
B. The Commercial Committee shall consist of three (3) representatives from each of the participating Boards. Presidents of participating Boards shall be considered ex-officio members, appointed for a one-year term. The Chairman shall be selected by the Committee each year.
V. GOVERNING DOCUMENTS
A. The Boards of Directors of the signatory Boards shall cause any Commercial Division established pursuant to this Agreement to conform its Rules and Regulations, Policies, and Procedures at all times to the Constitution, Bylaws, Rules, Regulations, and Policies of the NATIONAL ASSOCIATION OF REALTORS®.
VI. WITHDRAWAL FROM AGREEMENT
A. It is understood and agreed that any Board signatory to this Agreement may withdraw from the Agreement at any time provided the withdrawing Board shall provide notice to the other signatory Boards ninety(90) days in advance of the date of withdrawal.
IN WITNESS THEREOF, the parties have hereto set their hands and seals on this
_______________ day of _______________, 19_________. The effective date of this agreement shall be ___________, 19________.
ATTESTED BY
_______________________________________
(Board of REALTORS®)
______________________________________ __________________________________
(President) (Secretary)
Date: ______________ 19_____
_______________________________________ _________________________________
(Board of REALTORS®) (Secretary)
Date: ______________ 19_____
| COMMERCIAL BOARD APPLICATION PROCESS |
An application submitted by a group seeking recognition by
the NATIONAL ASSOCIATION OF REALTORS® as a commercial
board of REALTORS® will be accepted and considered only
when the applicant group is comprised of individuals who are presently
members of an existing Board(s). Information regarding non-residential
practitioners who are not members of the existing Board(s) that are interested
in participating in the commercial board can be used to support the group's
application.
NOTE: A commercial board must be a free standing entity which is not subservient to any existing board(s). However, it is entirely appropriate for a commercial overlay board to contract with an existing board to provide administrative services for the new commercial entity.
First Step By Applicant Group: A letter must be submitted to all affected Boards (i.e., those Boards that will share jurisdiction with the proposed commercial overlay board) by registered or certified mail, return receipt requested, advising them of the proposed new board. (The notification letter should be furnished to all affected boards at least 60 days prior to consideration of the group's application by the state association and the affected boards should have at least 30 days to respond). Copies of letters to the affected Boards and copies of all replies shall be furnished to the State Association and the NATIONAL ASSOCIATION OF REALTORS®. All of the materials and documentation detailed in, Administrative Procedures for Processing a Commercial Board Application (pgs 8.3-5) must be completed and submitted with the group's application. If there are no objections from the affected Board(s), then the group's application will proceed as an "uncontested" application.
In the event of an objection by an affected Board all parties will have an opportunity to appear before the State and National Associations to present their respective positions. The criteria to be utilized in considering such disputes is whether the affected Board is adequately representing and serving the needs of non-residential practitioners within its assigned jurisdiction, and whether establishment of a commercial board will better serve the needs of non-residential practitioners. The following is a suggested format for hearings by the State Association, and the Criteria for Consideration of a Contested Application for Establishment/Approval of a Commercial Board (pgs 8.11-12) hereafter referred to as the "Criteria" contains a list of factors for consideration by the hearing panel.
The hearing by the State Association shall be conducted by the Board Jurisdiction Committee (or other duly appointed group). Every effort should be made to ensure that the hearing panel includes members who are non-residential practitioners. It is recommended that the oral presentations by the parties follow the schedule below:
APPLICANT GROUP................................. ____ MINUTES
AFFECTED BOARD(S)............................... ____ MINUTES
Note: If there is more than one affected Board, each Board should be allocated equal time to make their presentation.
QUESTIONS AND ANSWERS OF THE HEARING PANEL ____ MINUTES
APPLICANT GROUP (CLOSING COMMENTS) ____ MINUTES
AFFECTED BOARD(S) (CLOSING COMMENTS) ____ MINUTES
EXECUTIVE SESSION OF HEARING PANEL AS REQUIRED
With respect to the oral presentations, each party may utilize a single spokesman or multiple spokesmen to present their respective cases, but must hold to the time frame provided irrespective of its election. Each party may also submit a written statement no more than 20 typewritten pages (single-sided) setting forth the basis upon which the application should be granted or denied. The written statement must be submitted at least 10 days prior to the hearing by the State Association. The written statements and oral presentations by the parties should speak to the Criteria, since this is what will be utilized by the State and National Associations in considering such disputes.
The State Association shall be requested to make a recommendation to the National Association based upon the information contained in the written statements (if any) and the oral presentations made by the parties at the hearing before the State Association. The recommendation shall be made within forty-five (45) days after the meeting of the Board of Directors, and shall set forth the basis or grounds upon which it is made.
The recommendation of the State Association shall be furnished simultaneously to all parties and the National Association by registered or certified mail, return receipt requested. Any party may request an opportunity to orally argue their position before the Membership Policy and Board Jurisdiction Committee of the National Association provided such request is made within thirty (30) days after completion of service of the recommendation of the State Association. The duration, nature, scope and conduct of any hearing shall be within the sole discretion of the Committee. If the parties accept the recommendation of the State Association, then the matter would not proceed to a hearing at the national level. However, any application for commercial board status is subject to final approval by the Membership Policy and Board Jurisdiction Committee and Board of Directors of the National Association.
All filings or other documents required under this procedure which are not filed within the time limits prescribed herein may be accepted at the discretion of the chairman of the hearing panel.
The formation of a commercial board starts at the local level
and proceeds to the State Association and then to the NATIONAL ASSOCIATION
OF REALTORS® where the final determination is made.
The following is a list of forms and materials (Chapter 9) which will need to be completed and submitted. These forms and materials must be submitted to the state association for review and recommendation prior to transmittal to the National Association for its required approval.
1. APPLICATION FOR MEMBERSHIP: This form must be completed in duplicate, signed by the proposed Board's President and Secretary (or other appropriate representatives). The recommendation of the State Association (page 2 of the form) must be dated and signed by the State President and forwarded to the National Association.
2. AGREEMENT TO USE THE TERM REALTORS® IN NAME OF MEMBER BOARD: This form must be completed in duplicate and signed by the proposed Board's President and Secretary (or other appropriate representatives). When and if the proposed Board is approved by the National Association, the President and Secretary of the National Association will sign the agreement and a copy will be provided to the new Board for its official records.
NOTE: Please note that two different (2) forms of Agreement to Use the Term REALTORS® in the name of local Board are enclosed. You must determine the proper form to use which will be consistent with the Board's intended corporate status.
3. DESCRIPTION OF TERRITORIAL JURISDICTION: A detailed description of the territorial jurisdiction requested for approval must be placed on the application form, or if more space is required, it may be submitted as an addendum to the application form. The description must be defined in terms of metes and bounds (except if county, counties, or other stable legal subdivision such as town, city or township).
4. MAP OF TERRITORIAL JURISDICTION: A sufficiently detailed map must be submitted which clearly indicates the territorial jurisdiction requested for approval showing both the affected board(s) and contiguous boards. The entire boundaries of the requested territorial jurisdiction should be outlined in a distinctive color on the map.
5. NOTIFICATION TO AFFECTED MEMBER BOARDS: A letter must be submitted to all affected boards (i.e., those boards that will share jurisdiction with the proposed commercial overlay board) by registered or certified mail, return receipt requested, advising them of the proposed new commercial overlay board. Copies of the notification letters and all replies must be included in the materials furnished to the state and National Associations. A sample notification letter is included in Chapter 9.
6. PROPOSED NAME OF NEW BOARD: A letter explaining the choice of board name is required as to why the choice is appropriate and descriptive of the area to be served by the commercial board. Any name selected by a commercial board must include the term "commercial" and must also include the phrase, "Board (or Association) of REALTORS®"). Example: "ABC Commercial Board of REALTORS®". However, the terms "commercial" and "REALTORS®" may not be used together.
7. COMMERCIAL BOARD IMPLEMENTATION REQUIREMENTS AND MINIMUM SERVICES CRITERIA: This form must be completed in as much detail as necessary to demonstrate the proposed board's ability to meet the minimum services criteria approved by the NAR Board of Directors and other requirements specific to commercial boards.
8. PROPOSED BYLAWS OF NEW BOARD: The proposed commercial board's Bylaws must be submitted to the National Association for review and approval to ensure compliance with NAR policy. The Model Board Bylaws for a commercial board are the same as those for any other board of REALTORS®. These may be adopted verbatim by simply filling in the blank spaces and selecting an option is those sections where two or more options are available. Please highlight any differences in your Bylaws and the Model Bylaws when submitting them for review.
There are two (2) types of Model Bylaws. One is for boards that maintain categories of REALTOR® and REALTOR-ASSOCIATE® membership (#166-814), and the other is for boards that have adopted the "All-REALTOR®" (#166-815) concept in membership. Both structures maintain favorable status in the National Association and the structure which is adopted by the commercial board is completely a matter for local judgment and determination. In Chapter 10 - Additional Resources are copies of two (2) articles from previous issues of NAR publications which discuss the "All-REALTOR®" concept in membership (NOT AVAILABLE ONLINE).
NOTE: If the board intends to operate a commercial MLS or commercial information exchange copies of the Bylaws (if applicable) and Rules & Regulations must be submitted for review. Model Bylaws and Rules and Regulations can be found in the Handbook on Multiple Listing Policy -- Commercial/Industrial Supplement (#104B).
9. INCORPORATION: It is strongly recommended that the proposed board consider incorporation. If a decision is made to incorporate, proposed Articles of Incorporation should be provided to the National Association with the application but should not be filed with the Secretary of State until the applicant group is advised of charter status by the National Association.
10. MEMBERSHIP LIST: A list of all charter firms and members must be included with the application. Individual membership applications and mailing addresses are not required at this point. Minimum: 10 firms, and 15 members.
11. MEMBERSHIP DUES: Membership dues of the proposed new commercial board must be submitted with the application, computed in accordance with Article II, Bylaws of the National Association, and prorated from the beginning of the quarter in which the application will be submitted to the National Association for approval.
NOTE: In calculating the dues payable to the state and National Associations, individuals who have already been included in an existing board's dues obligation to the state and National Associations shall not be considered. Further, any rebate of the local allocation of board dues previously paid to an existing board is at the discretion of the existing board.
12. 30-DAY REQUIREMENT: All requests to place items on the agenda for consideration by the Membership Policy and Board Jurisdiction Committee for its subsequent recommendation to the Board of Directors and all required forms of application and supporting documentation must be received in the Chicago office of the National Association at least 45 days prior to the next regularly scheduled meeting of the Committee.
BOARD OR LOCAL LEVEL
____ A. Application for Membership as a Member Board form completed in duplicate, signed
where applicable by President and Secretary.
____ B. Agreement to Use the Term REALTORS® form completed in duplicate, signed where
applicable by President and Secretary. (There are two separate: forms one for
unincorporated Boards, one for Boards planning to incorporate.)
____ C. Required forms and supporting documents to be submitted to the State Association for
review and recommendation by its Board of Directors.
___1. Completed application for membership (including jurisdiction description) and properly executed agreements to use the term REALTORS®.
___2. Color-coded map of requested territorial jurisdiction
___3. Notification letters to affected boards and replies.
___4. Letter explaining the choice of board name.
___5. Completed Commercial Board Implementation Requirements and Minimum Services Criteria Form.
___6. Copy of proposed board Bylaws and Articles of Incorporation.
___7. List of charter firms and members.
___8. Check for applicable membership dues.
___9. 30-day requirement for submission to the National Association.
STATE ASSOCIATION
____ A. Review of submitted forms and supporting documents of the proposed commercial board.
____ B. Hearing to consider any objections from affected boards (if applicable).
____ C. Submission of the proposed board's Application to the State Association's Directors for a favorable or unfavorable recommendation to the National Association.
____ D. Completion of State Association's portion of the Application, dated and signed by State President.
____ E. Submission of the forms and all supporting documents to the National Association's Chicago office no later than 30 days prior to the next meeting of the Membership Policy and Board Jurisdiction Committee for its consideration and recommendation to the Board of Directors of the National Association.
The following statements of policy identify major questions
and issues that might arise with the establishment of commercial boards
and have been developed to provide specific policy guidance to member boards.
MEMBERSHIP IN COMMERCIAL BOARDS
The qualifications for membership in a commercial board shall be in accordance with the 7 and 6-Point Membership Qualification Criteria of the NATIONAL ASSOCIATION OF REALTORS® which are the most rigorous qualifications which may be required by a Board of REALTORS® in considering applicants for REALTOR® and REALTOR®-Associate Membership.
MINIMUM CRITERIA
The minimum criteria to establish a commercial board and for the board to retain its charter with the National Association shall be identical to those policies which presently govern member boards. These are detailed in the Commercial Board Implementation Requirements and Minimum Services Criteria Form.
DUES
Dues for a designated REALTOR® in a commercial board shall be calculated on the same "size" formula basis that dues for a designated REALTOR® of a residential board are calculated (i.e., a base amount as determined by the board plus an amount as determined by the board times the number of individuals licensed with the REALTOR® who do not hold membership in the board). If a firm's principals hold membership in a residential board and a commercial board, licensees affiliated with the firm may, but are not required to, hold membership in both boards. With respect to licensees who elect not to join any board, the designated REALTOR® shall declare which licensees are residential and which are commercial and shall pay dues to the appropriate Board based on said certification.
PROFESSIONAL STANDARDS ENFORCEMENT
Complaints alleging violation of the Code of Ethics or requests for arbitration involving a member who holds membership in a residential board and a commercial board shall be filed with the commercial board if the complaint or request for arbitration is related to a commercial transaction, and shall be filed with the residential board if the complaint or request for arbitration is related to a residential transaction.
STATE ASSOCIATION MEMBERSHIP
If the territorial jurisdiction of a commercial board crosses state lines, the board shall be considered a member of each state association where the board maintains jurisdiction. In the absence of an agreement between the State Associations to the contrary, representation in the state and National associations (i.e., director entitlement, etc.) and assessment of state and National dues shall be based on the actual number of members who maintain or are affiliated with an office located within the state.
MEMBERSHIP SERVICES
Commercial boards may offer a full range of services, however, they shall not operate a residential MLS.
NAMES
Any name selected by a commercial board must include the term "commercial".
When considering a "contested" application for
establishment of a commercial overlay board, the hearing panel must determine
whether the affected Board is adequately representing and serving the needs
of non-residential practitioners within its assigned jurisdiction, and
whether establishment of a commercial board structure will better serve
the needs of non-residential practitioners. The following is a list of
items by which to measure the performance of an affected Board, and to
measure the abilities of the applicant group to fulfill the obligations
of their application. These are typical of, but are not all inclusive of,
the questions or factors to be considered by the hearing panel in its deliberations.
Section 1: Which group can better serve the needs of non-residential practitioners in the areas described below:
A. Provide an effective non-residential group that will attract new members and retain existing members.
B. Identify and develop services which meet the needs of non-residential practitioners.
C. Provide educational opportunities to advance the level of professionalism and competence.
D. Provide networking opportunities.
E. Provide a focal point to address legislative issues affecting non-residential real estate.
F. Foster relations and interaction with chapters of the Institutes, Societies and Councils.
G. Have an established communication process for non-residential issues.
H. Provide liaison with other related industry groups.
I. Maintain a functioning professional standards process to enforce the NAR Code of Ethics and provide for arbitration.
J. Protect and promote proper use of the REALTOR® registered trademark.
Section 2: In addition to the criteria established
in Section 1, the hearing panel may also consider the following issues:
A. What programs, services, and administrative support are being provided to non-residential members by the affected Board(s)?
B. What is the degree of Member satisfaction with these services?
C. What is the ratio of non-residential membership to total membership within the affected Board(s)?
D. What percentage of the affected Board's budget is allocated to non-residential services?
E. Do a majority of non-residential members within the affected Board(s) support the petition of the applicant group?
F. Do petitioners have sufficient members and financial resources to conduct the activities and programs required of a Member Board of the NATIONAL ASSOCIATION OF REALTORS®?
1. What is a Commercial Board?
Commercial Boards involve a "second level of territorial allocation". These boards co-exist and share geographic jurisdiction with existing boards, and perhaps overlap several board jurisdictions in order to better serve a natural market area. At the same time, the territory currently assigned to existing board(s) remains intact as well as their right and obligation to provide services to their members.
They can in many instances. The structure that is implemented is directly related to the number of members and the needs of those members. A number of local and state Associations provide meaningful programs and services for their non-residential members. It is very unlikely that commercial boards would be formed in those areas. However, in areas where Boards have found it impractical to provide specialized services because of limited resources and numbers of non-residential members, or the geographic makeup of the market, a commercial overlay structure may be the solution. The commercial board is also a type of structure which one or more other existing structures may evolve into to better serve their market.
3. How can the REALTOR® organization benefit from Commercial Boards?
The commercial board offers the opportunity to attract back into membership the specialty firms that have left the REALTOR® organization and enable us to attract additional new membership among commercial practitioners, because of the enhanced image that it affords in the corporate community and among commercial practitioners. Where it is used, this structure can strengthen the local delivery of services to commercial members and provide a focal point for cooperative efforts between the Commercial Board and the chapters of the Institutes, Societies and Councils. It also alleviates the pressure on some boards to deliver services to the non-residential members where this is simply not a viable opportunity.
4. What is the process for establishing a Commercial Board?
All groups interested in forming a commercial board must go through a formal application process which requires:
5. Who may initiate the request to establish a Commercial Board?
An application may be submitted by a group of at least 10 firms and 15 members seeking recognition from NAR as a Commercial Board of REALTORS® . Interest from non-residential practitioners who are not members of the Association may also be used to support the group(s) application.
6. On what basis is jurisdiction granted to a Commercial Board?
Commercial Board jurisdiction is based on market areas, and the boards ability to service its members and the public in its area of assigned jurisdiction. However, charters are not granted to two Commercial Boards for the same area.
7. Are there any requirements for naming a new Commercial Board?
The name chosen by the Commercial Board must rationally relate to the Board's requested jurisdiction. A letter to the Membership Policy and Board Jurisdiction Committee will be required to explain the choice of name as to why it is descriptive of and appropriate of the territorial jurisdiction which the Board is requesting. The terms "commercial" and "REALTOR®" may not be used together. For example "Metrolina Commercial Board of REALTORS®" is appropriate, but "Northwest Association of Commercial REALTORS®" is not appropriate and would not be approved.
8. How is the dues formula applied?
National dues for REALTOR® and REALTOR-ASSOCIATE® Membership in a Commercial Board are the same as any other board. State Association dues for REALTOR® and REALTOR-ASSOCIATE® members are also the same. Dues for the designated REALTOR® of a commercial firm are calculated on the same "size" formula basis that dues for a designated REALTOR® of a residential Board are calculated (i.e., a base amount as determined by the Board plus an amount as determined by the Board times the number of individuals licensed with the REALTOR® who do not hold membership in NAR). In cases where the designated REALTOR® holds membership in both a residential and commercial Board, licensees affiliated with the REALTOR®'s firm are eligible to hold membership in one or both Boards. With respect to licensees who elect not to join either Board, the designated REALTOR® declares which licensees are non-residential and which are residential and the dues formula is applied by the appropriate Board.
9. Can membership be maintained in both a Residential and Commercial Board?
Yes, as long as the firm's Designated REALTOR® is a member of both boards. The firm, however, can assign a different designated REALTOR® for each board.
A Commercial Board is free to offer a full range of services, however, these services are focused on the non-residential specialties. The Commercial Board is not authorized to operate a residential MLS.
Commercial Boards have all of the same privileges and obligations of existing Boards of REALTORS® as set forth in the Constitution and Bylaws of the State and National Associations.
12. If a Commercial Board encompasses more than one state, how are state director representation and dues determined?
If the territorial jurisdiction of a commercial board crosses state lines, the board is considered a member of each state association where the board maintains jurisdiction. In the absence of an agreement between the State Associations to the contrary, representation in the State and National Associations (i.e., director entitlement, etc.) and assessment of State and National dues is based on the actual number of members who maintain or are affiliated with an office located within the state.
13. Do Commercial Boards have different procedures for Code of Ethics enforcement?
No. The same procedures are followed.
14. If a REALTOR® is a member of a Residential Board and a Commercial Board, which Board would process ethics complaints or requests for arbitration?
Complaints concerning the Code of Ethics and requests for arbitration involving residential transactions are filed with the Residential Board, and complaints concerning the Code of Ethics and requests for arbitration concerning commercial transactions are filed with the Commercial Board.
15. If the jurisdiction of a Commercial Board includes territory in two or more states, which state laws would be used to arbitrate?
The Board may utilize various methods to determine which state arbitration statutes will apply in a particular arbitration hearing (e.g., if the complainant and respondent are from the same state then that state's arbitration statutes would apply, etc.). However, it would appear that the most effective method is for the Board to determine in advance, based on the advice of Board Legal Counsel, which state arbitration statutes will apply to all arbitration hearings conducted by the Board. Membership in the Board may then be granted based on the applicant's agreement to arbitrate all disputes, as required under Article 14 of the Code of Ethics, in accordance with the arbitration statutes of the chosen state. This should be an isolated concern since most state arbitration statutes are patterned after the Uniform Arbitration Act.
16. How are the provision of administrative services handled by a new Commercial Board?
In many instances the administrative needs will come from existing support services. In other words, a Commercial Board may contract for services and office space from an existing Local Board.
| COMMERCIAL BOARD APPLICATION FORMS |
The following samples of necessary forms to be completed
by any group seeking status as a commercial Board are included in this
Chapter.
Sample Notification Letter - Intent to Create a Commercial Board
Application for Membership as a Member Board
Agreement to Use the Term REALTORS® in Name of Unincorporated Local Board
Agreement to Use the Term REALTORS® in the Corporate Name of Local Board
Commercial Board Implementation Requirements and Minimum Service Criteria
Dear Board President:
The ____________ Commercial Board/Association of REALTORS® is making application to the State and NATIONAL ASSOCIATION OF REALTORS® for approval as a commercial overlay board. The jurisdiction of the overlay board will be:
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
(use addendum if necessary)
(May want to include specific details concerning the benefits of establishing a commercial overlay board structure in this section of the letter.)
As part of the approval process, each affected board (i.e. boards that will share jurisdiction with the commercial overlay board) must be notified. Therefore, we ask that your Board of Directors discuss our application for commercial overlay board status and indicate on the bottom of this letter whether they approve or disapprove of the formation of our board.
It is extremely important that this letter be returned within 30 days. If you would like to comment on this request, please feel free to attach a written response.
If you have any questions, or need any additional information, please do not hesitate to contact us.
Thank you in advance for your time and cooperation.
Sincerely,
Representative of commercial board
______ approve ______ disapprove
Board Name __________________
This form addresses the implementation requirements which
are specific to commercial boards, and the minimum services criteria for
all new boards (including commercial boards). Under each section, please
comment on your group's ability to meet these standards and, where necessary,
include specific plans to show how this will be accomplished. (include
addendum if necessary).
Need
Those petitioning must show what specific services they desire which are not now being provided by Boards in their area.
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
Jurisdiction
To the extent possible, jurisdiction should be large enough to include the market area rather than city, county or existing Board jurisdictional lines. Evidence of such market area should be provided.
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
Numbers of Members
While the minimums are the same as for other Boards (10 firms and 15 members), the reality is that unless a large enough nucleus can be created there will not be enough resources available to truly provide minimum board services. Petitioners are required to produce a tentative budget and dues schedule showing they will have the financial resources to fulfill their charter obligation of providing minimum services. Include the number of charter firms and members.
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
Name of Board
Any name selected by a commercial board must include the term "commercial" and must also include the phrase "Board (or Association) of REALTORS®". Example: ABC Commercial Board of REALTORS®. However, the terms "commercial" and "REALTOR®" may not be joined together.
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
Code of Ethics Enforcement
The petitioners are required to show that there will be enough members and companies represented by those members so that they can appoint fully functioning Professional Standards Committees and hearing panels or, alternatively, submit specific plans showing that the board intends to administer Professional Standards enforcement through a multi-board (or regional) Professional Standards structure.
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
| ADDITIONAL RESOURCES |
The following additional resources are included as references
in developing commercial structures and services:
St. Louis Association of REALTORS® Commercial Division 1993 Strategic Plan
Sample Orientation Program Schedule
Executive Summary of NAR Commercial and Investment Member Benefits/ Services Study - December, 1991
Listing of the NATIONAL ASSOCIATION OF REALTORS® Affiliated Institutes, Societies, and Councils
The ALL-REALTOR® Board Experience
The ALL-REALTOR® Concept in Membership
Administrative Service Contracts/Service Agreements for Commercial Boards
Commercial Structure Data Form
OBJECTIVES
1. To increase the involvement of members in Division activities and recruit additional brokers, agents and property managers to become members.
2. To provide high quality educational programs either directly or through affiliate organizations.
3. To provide services which are responsive the needs of the members.
4. To maintain a high level of legislative awareness encouraging membership input for the purpose of responding to relevant issues and influencing legislation.
5. To encourage and coordinate the cooperation between commercial affiliates and related organizations.
6. To enhance the image of and promote public awareness of Commercial Realtors.
7. To manage the Commercial Division in a fiscally sound and administratively effective manner.
MARKET
INDUSTRY
ORGANIZATIONS
____________ Board of REALTORS®
______________________________________________________________________________
AGENDA
( Date )
PRESENTED BY: __________________, Chairman, Orientation/Ethics Committee
5:45 p.m. REGISTRATION
Please be certain you have registered for class and have received an information book, program critique and name badge
6:00 p.m. WELCOMING REMARKS
6:05 p.m. BOARD OBLIGATION TO MEMBERS & MEMBER OBLIGATION TO THE BOARD
6:15 p.m. GOVERNMENTAL AFFAIRS
6:20 p.m. LEGAL AWARENESS
7:45 p.m. BREAK
7:55 p.m. ETHICS
9:55 p.m. ADJOURN
NOTICE: Completion of this course fulfills your class requirements, you will be inducted into the ____________ Board of REALTORS®, given the REALTOR® Pledge and Pin, immediately following class.
PLEASE complete the program critique and leave with the Program Presenter-Thank You.
EXECUTIVE SUMMARY
REALTOR® evaluation of current services
and potential new services is particularly critical as NAR seeks to expand
its commitment to commercial and investment specialists. The Commercial
and Investment Committee in conjunction with the Strategic Studies Group
of NAR designed this survey to determine specific programs and services
needed by C&I REALTORS®.
The following is an Executive Summary of the results from the recently completed Commercial and Investment Member Benefits/Services Survey. The survey, conducted in December, 1991 was sent to 22,228 C&I REALTORS® including 12,932 C&I REALTORS® designated by their State and local Boards, 7,873 CIREI designees/candidates and 1,423 SIOR® designees/candidates. The results are based on total responses of 5,302 representing a twenty-four (24) percent response rate.
C&I REALTOR®
Attributes:
The profile of the "typical" C&I REALTOR® is as follows:
Services & Benefits:
Members surveyed were asked to identify the top four services currently provided to them and what they would like to receive from the NATIONAL ASSOCIATION OF REALTORS®, their State Association and Local Board. The following Tables depict the top four services at each level of membership:
TABLE 1
|
SERVICES AT THE NATIONAL LEVEL |
|
| SERVICES PROVIDED | SERVICES WANTED |
| 1. Newsletters/Communication | 1. Legislative tracking and lobbying |
| 2. Legislative tracking and lobbying | 2. C&I market data and research |
| 3. Directory of C&I Practitioners | 3. Continuing Education programs on C&I topics |
| 4. Continuing Education programs on C&I topics | 4. Legal information/services |
TABLE 2
| SERVICES AT THE STATE LEVEL | |
| SERVICES PROVIDED | SERVICES WANTED |
| 1. Newsletters/Communication | 1. Legislative tracking and lobbying |
| 2. Legislative tracking and lobbying | 2. Continuing Education programs on C&I topics |
| 3. Legal information/services | 3. Legal information/services |
| 4. Continuing Education programs on C&I topics | 4. C&I market data and research |
TABLE 3
| SERVICES AT THE LOCAL LEVEL | |
| SERVICES PROVIDED | SERVICES WANTED |
| 1. Newsletters/Communication | 1. Regularly scheduled meetings on C&I topics |
| 2. Regularly scheduled meetings on C&I topics | 2. Continuing Education programs on C&I topics |
| 3. Continuing Education programs on C&I topics | 3. C&I market data and research |
| 4. C&I property exchange/marketing sessions | 4. C&I property exchange/marketing sessions |
MLS Utilization:
The Multiple Listing Service (MLS) is a critical part of the residential real estate business; however, over the years the MLS has not played the same role in commercial & investment real estate. In order to determine the current importance and use of MLS systems in commercial and investment activities, several questions were developed on this topic. Based on our analysis:
Education:
Continuing education courses are an important part of a REALTOR®'s professional training. Most states around the country require REALTORS® to take C/E courses. Based on our analysis:
"Commercial & Investment Certificate Program"
NAR is now developing a "Commercial & Investment Certificate Program". It will be a basic-to-intermediate level program of study on commercial and investment real estate with a goal of providing participants with the capabilities needed to successfully function within a commercial and investment real estate office. Based on our analysis:
This summary only touches upon the benefits and services desired and those being received by the C&I REALTOR®. For more information, or to request a complete copy of the study contact NAR's Commercial & Investment Department in the Member Services Division at 312/329-8598.
EXECUTIVE SUMMARY
This study continues the efforts of the NATIONAL ASSOCIATION
OF REALTORS® (NAR) to gain a better understanding
of its membership. In the 1990 "Member Demographics" study,
approximately 38% of REALTORS® reported that they spend
at least 10% of their time in commercial real estate activities. The "Commercial
& Investment Membership Attitudes/Perceptions Segmentation Study"
was contracted to Sorkin-Enenstein Research Service Inc. (SERS) of Chicago
to further investigate this portion of the NAR membership, providing an
in-depth assessment projectable to the Association's entire commercial
member base.
In preparation, focus groups were conducted in the summer of 1991, with the results incorporated into this quantitative study. An eight page questionnaire was mailed to 1,000 members of NAR's Membership Panel in November, 1991. Participants were identified (through existing panel demographic data) as devoting at least 10% of their time to commercial real estate activity. The following results are based on 403 completed surveys, representing an overall response rate of 40.3%
The NATIONAL ASSOCIATION OF REALTORS®
is composed of REALTORS®, who are generally brokers or salespeople,
and REALTOR-ASSOCIATES®, a membership category for salespeople.
Members belong to one or more of some 1,890 local Boards of REALTORS®,
54 State Associations of REALTORS® and the NATIONAL ASSOCIATION
OF REALTORS®. Members, by virtue of their membership in
a local Board, are automatically granted membership in a State Association
and the National Association. Other real estate professionals may qualify
for membership based on qualifications.
The seven affiliated Institutes, Societies and Councils of the NATIONAL ASSOCIATION OF REALTORS® provide a wide-ranging menu of programs and services to assist members in increasing their skills, productivity and knowledge. Designations acknowledging experience and expertise in various real estate sectors are awarded by each Affiliate group upon completion of required courses. These courses cover commercial-investment, counseling and leadership training for brokerage, property management, real estate group investment, residential sales, and urban and land development. They help members anticipate and address trends and issues in the real estate industry, while keeping them informed about developments in their specialized fields.
The Counselors of Real Estate (CRE)
The Counselors of Real Estate, (formerly American Society of Real Estate Counselors) was formed in 1953 to enhance the quality of advice available to the public on property matters. The Counselor of Real Estate (CRE) is the ultimate source of knowledge available to meet the needs of property owners, investors and developers. The CRE® designation recognizes the individual's demonstrated judgment, integrity and experience in real estate matters and client service. Compensation is by prearranged fee or salary for services, rather than by commission or contingent fee. Membership is by invitation only, on either a self-initiated or sponsored basis.
Designation:
CRE® Counselor of Real Estate
All members hold the CRE® designation and provide objective advice on real estate-related areas to investors, builders, and various financial institutions.
Commercial-Investment Real Estate Institute (CIREI)
The Commercial-Investment Real Estate Institute, through an extensive educational curriculum, enhances the competence of those engaged in commercial-investment real estate. Membership includes specialists in commercial property development, brokerage and investment analysis, as well as allied professionals in banking, taxation and law.
Designation:
CCIM (Certified Commercial-Investment Member)
Conferred upon member after successful completion of 240 hours of graduate-level study and a comprehensive examination as well as completed commercial-investment transactions and/or consultations.
Institute of Real Estate Management (IREM)
IREM was established in 1933 to develop and ensure high standards of professional practice in the field of property management. IREM creates and sponsors a wide variety of courses, seminars and continuing education programs at both the national and local levels. IREM's membership is composed of property and real estate asset managers who have achieved designation requirements in the areas of experience, education and ethics.
Designations:
CPM® (CERTIFIED PROPERTY MANAGER®)
Earned by meeting required standards in property management experience and education while subscribing to a code of ethics.
AMO® (ACCREDITED MANAGEMENT ORGANIZATION®)
Property management companies that meet established standards of experience, integrity, and fiscal stability can receive this designation.
ARM® (ACCREDITED RESIDENTIAL MANAGER Recognition Award)
An educational accreditation awarded to on-site managers specializing in residential property who meet specific requirements in education, experience and ethical behavior.
REALTORS® Land Institute (RLI)
RLI, established in 1944, helps members improve their professional competence and marketing expertise in all phases of land brokerage, including agricultural and urban land, and transitional and recreational properties. The Institute offers the RLI Land University, the Accredited Land Consultant (ALC) designation, a monthly publication, and national marketing sessions.
Designation:
ALC (Accredited Land Consultant)
Earned by members who meet educational standards, have professional experience and complete service requirements.
REALTORS NATIONAL MARKETING INSTITUTE® (RNMI®)
RNMI®, founded in 1923, promotes professional competence in residential brokerage and sales, and real estate brokerage management through its two independent Councils.
Real Estate Brokerage Managers Council (RB Council) of RNMI® The Real Estate Brokerage Managers Council provides broker managers of residential, commercial, industrial, relocation, appraising and property management companies the working knowledge and skills necessary to profitably manage their companies. Through its courses, products and services, the Council offers advanced training in areas such as strategic planning, financial management, marketing management, recruiting/training and retaining sales staff.
Designation:
CRB (Certified Real Estate Brokerage Manager)
Recognized as the symbol of management excellence since 1968, the CRB is awarded to those who complete mandatory course work, fulfill experience requirements and apply learned management concepts to daily practice.
The Residential Sales Council (RS Council) of RNMI® Working to raise the educational and professional level of residential sales- and broker-associates, the RS Council offers advanced courses in listing, selling, managing time and career, investing, financial skills and computer applications, along with publications, periodicals, audio/visual material and sales aids.
Designation:
CRS® (Certified Residential Specialist)
Requires candidates to complete specific course work and demonstrate expertise in applied residential marketing.
SOCIETY OF INDUSTRIAL AND OFFICE REALTORS® (SIOR®)
SIOR® was established in 1941 for individuals specializing in all phases of industrial and office real estate activity. SIOR® offers a full range of education courses in marketing industrial and office properties, and is dedicated to maintaining high professional standards while meeting the needs of its corporate clients.
Designations:
SIOR®
Earned by industrial and office REALTORS® by completing required course work and fulfilling professional experience criteria.
P.R.E. (Professional Real Estate Executive)
Earned by corporate real estate executives by completing required course work and fulfilling experience criteria.
WOMEN'S COUNCIL OF REALTORS® (WCR)
WCR, founded in 1938, provides a referral network, programs and systems for personal and career growth, and opportunities for the development of leadership skills through its local and state chapters and the WCR Leadership Training Graduate (LTG) program.
Designation:
LTG Leadership Training Graduate)
Awarded after completing four leadership training courses and meeting
leadership experience requirements.
The following is a list of committees which the group may
want to consider, while taking care not to over structure the group for
the sake organization. Members should raise the need for these groups,
and they should be organized to fit the members not vice versa. Some of
these committees may only be appropriate for the commercial Board.
ARBITRATION COMMITTEE
To conduct hearings as requested by members concerning commission disputes arising out of the closing of a real estate transaction.
AWARDS COMMITTEE
To consider qualifications of possible recipients and select the nominees for the group's Awards.
COMMUNITY SERVICE COMMITTEE
To encourage participation by members in organized activities which benefit the community and raise the professional image of organized real estate.
BY-LAWS COMMITTEE
To consider any changes and recommendations for revisions to the (Constitution for commercial Boards) and Bylaws.
ECONOMIC DEVELOPMENT COMMITTEE
To provide effective commercial real estate resources and support to state, regional, and local economic development organizations which will result in enhancing the area's ability to attract new businesses and retain existing companies.
EDUCATION
To support state, regional, and local economic development organizations, by providing market data and research, property tours, and market presentations enhancing the regions ability to attract new business and retain existing companies.
EQUAL OPPORTUNITY
To oversee and ensure that all stipulations of the Affirmative Marketing Agreement are complied with on a continuing basis as required by joint agreement with the National Association of REALTORS® and HUD.
ETHICS/PROFESSIONAL STANDARDS
To encourage strict adherence to the REALTOR® Code of Ethics by all members and to conduct hearings as referred by the Grievance Committee and/or the Board of Directors.
FORMS COMMITTEE
To develop, review and publish commercial contracts and forms for the use of the general membership.
GRIEVANCE COMMITTEE
To review and investigate all complaints and arbitration requests filed with the Board, and when appropriate, refer them to the Ethics and/or Arbitration Committee for a hearing.
INDOCTRINATION COMMITTEE
To introduce new members to the entire REALTOR® organization, the Board leadership, the local structure and its history, and all services provided by the organization.
LEGISLATIVE AFFAIRS COMMITTEE
To keep abreast of political and legislative issues affecting the real estate industry and to advise the Board of Directors and the general membership concerning these matters.
MEMBER SERVICES COMMITTEE
To increase and promote the general services, and in addition, supervise the selection of material to be added to the Library.
MEMBERSHIP COMMITTEE
To stimulate interest in membership among qualified brokers, to consider qualifications of applicants for membership, and to make recommendations to the Board of Directors.
MILLION DOLLAR CLUB COMMITTEE
To recognize Million Dollar Club members for their production achievements to all members of the Board and to the general public.
NETWORKING COMMITTEE
To organize events/meetings in order for all members to network and to be informed about current industry trends and issues.
NOMINATING COMMITTEE
To annually recommend to the membership the slate of Officers and Directors, and to recommend REALTORS® to fulfill vacancies on the Board of Directors as may occur.
PROJECT MARKETING COMMITTEE
To strengthen the relationship between the development community and the REALTOR® community through various Board functions.
PROPERTY MANAGEMENT COMMITTEE
To consider issues, and ways to support members who are active or have an interest in property management. NOTE: Other specialty committees may be required for appraisers, etc.
REALTOR® POLITICAL ACTION COMMITTEE
To represent the membership in areas of REALTORS® political action and raise/collect funds for RPAC which in turn support legislative candidates and issues which support REALTOR® views.
YOUNG COUNCIL OF REALTORS®
1) To work towards becoming better business leaders through educational programs, committee activities, and in the day-to-day conduct of the real estate business.
2) To increase earning power for Council members and their employing brokers.
3) To secure new memberships and encourage active participation in the overall Board by Council members.
4) To create opportunities for more contact with a greater number of board members through networking meetings, educational programs and social events.
YCR EXECUTIVE COMMITTEE
To organize the activities and programs of the Young Council of REALTORS®.
ZONING COMMITTEE
To consider all matters of zoning ordinances affecting real estate and real estate owners and to advise the Board of Directors and the general membership concerning these matters.
In some instances commercial Boards desire to contract for
the provision of administrative services through another Board or Association
Services Provider. For those wanting to contract for these services, the
following summarizes some common points to be included, and offers examples
of how these have been written into the contract. It should be noted; however,
that these are only examples and that the specific circumstances and desired
outcomes will vary for each Board. Therefore, it is important to involve
the assistance of the Board's legal counsel in negotiating and writing
the final contract.
Common Format:
* Definition of Parties
* Definition of Terms
* Termination of agreement
* Services, Facilities and Staff
* Services not included in the agreement
* Obligations of each Party
* Management Fee structure
* Assignment
* Arbitration
* State Law
* Entire Agreement clause
* Executive Officer arrangement
* Signature
Common Services Defined in Agreements:
Administrative Services:
* Coordination of Board legislative activities
* Ethics and Arbitration
* Executive Director
* Handling financial transactions
* Managing membership records
* Meeting space
* Office space and facilities
* Personnel and equipment
* Political Action Committee administration
* Prepare and Retain Minutes, Governing, and Legal documents
* Producing Financial reports
* Publishing Photo directions
* Telephone service
Dues Billing and Collection
Education programs
Newsletter/Magazine
Orientation program
Terms:
* One year, with automatic one-year renewals, unless either party notifies the other of its intent to cancel 30 days prior to the term's expiration
* Three years, with a 30 day cancellation clause
* Five years, with automatic 5-year extensions, and with a 12 month cancellation
clause
* Indefinite, with a review within the term's first 12 months, and termination by either party with at least 90 days notice
Fee Structures:
* First year fee waived, but Board pays "hard" costs; second year, the fee will be an amount equal to $__ per member of the commercial board. This fee will cover all personnel and overhead costs. It does not include postage, printing, or any other out-of-pocket expenditures.
* The fee agreed to by both parties is $___ per year, to be billed in twelve monthly installments of $___ each. The ___________ Association of REALTORS® is responsible for out-of-pocket-expenses incurred, which includes but is not limited to travel, postage, telephone, fax transmission, and supplies. Use of the copy machine will be at the rate of $___ per copy. Billings for supplies and out-of-pocket expenses shall be included in the administrative fee.
Direct expenses related to accounting, legal, governmental affairs, and professional standards shall be the sole responsibility of the Association. Any staff time related to these expenses shall be included in the administrative fee.
Staff time related to educational opportunities shall be by separate agreement.
This administration fee is based on an average of ___ hours per week and shall be reviewed annually. Should the amount of staff time required by the Association significantly increase, the administrative fee shall be reviewed.
The service provider shall in no way be held responsible for financial liability of the Association.
* The commercial board will reimburse the Board for out-of-pocket business expenses (such as long distance phone charges, postage, etc.) within 15 business days of billing from the Board.
______________ Association will pay ___% of monthly rent and other charges paid to landlord for the premises.
______________ Association will pay ___% of the salaries and employment taxes of the EVP and Bookkeeper, and the salary.
* The _________________Board of REALTORS® will pay the (service provider) ___________ Board $___ per month, due and payable by the last day of the month for the following month, and will pay a 1/5 % finance charge on all unpaid balances after 30 days, and, if necessary, will pay legal and court costs.
* Expenses approved in the budget but not included in the Agreement will be directly billed to the Commercial Association.
* If the Commercial Association wishes Management to provide services or make expenditures not included in the Agreement or the budget, the Commercial Association will be directly assessed for those costs.
* Two months prior to each anniversary date, the ___________ Association will notify Management of its membership count, which will be the average of the then current fiscal year's July and November membership count.
Each party will establish its count and each party will mutually agree on the shared income and shared expenses. Monthly payments of one-twelfth of the base management fee allocated to the _____________ Association will be paid to the (service provider) Board. The monthly base management fee will be applied to the shared expenses and/or other costs mutually agreed to.
* By December 1 of each year, the Board of Directors of Management shall establish a per member charge for the following year to be charged to the ____________ Association of REALTORS® (Commercial Association). The charge will be determined by calculating the number of employee hours devoted to the Commercial Association and adding a proportionate share of total overhead costs of Management. Any increase will not exceed the increase in the Consumer price index for the previous year plus ___%.
Cancellation provisions:
* The agreement is for a term of one year, and may be renewed on an annual basis.
* Either party to the agreement may cancel the agreement without penalty upon thirty days notice to the other party. In the event of cancellation, said party to the contract will be obligated only for time and expenses incurred to the date of termination.
* The parties agree that, at any time during the initial year of the Term and at any time thereafter, either party may terminate this agreement by giving the other party at least 90 days prior written notice to do so. No cause shall be required for termination.
* The ___________ Board of REALTORS® may terminate the Agreement earlier if there is a material failure of performance on the part of the (service provider) Board of REALTORS® which it has not effectively remedied within thirty days after written notice from the Association. The (service provider) Board_____________ Association may terminate the Agreement if the _____________ Association fails to make the payments called for. At least 60 days prior to the expiration of the term of the initial Agreement, _____________ Association shall notify (service provider) Board of its intention to continue. Renegotiations will commence at that time.
The Agreement shall automatically be renewed for successive one-year terms unless at least 30 days prior to the expiration on the then current term either party notifies the other in writing of its intention to cancel the Agreement. Renegotiation may occur upon renewal.
* Either party shall have the right, as of the last day of any fiscal year, to terminate this Agreement without liability to the other on 90 days prior written notice, in the event that the other party shall cease to be a Board of REALTORS® authorized by NAR, or either party shall be voluntarily or involuntarily dissolved.
The Board shall be entitled to terminate this Agreement without liability to the Association as of the last day of any fiscal year on 180 days written notice, if, as a result of a change in the method or structure of providing multiple listing services results in a significant and material loss of revenue to the Board, or a loss of members due to the implementation of the "Board of Choice" rules promulgated by NAR or the State Association and the Board determines to either merge or consolidate with another Board of REALTORS® who is a member of NAR and the Board is not the surviving board of REALTORS® , the Board determines to sell the building, or the Board determines that it will not have sufficient revenues to provide and/or pay off the personnel necessary to provide the Association the required services.
The Association shall be entitled to terminate this Agreement without liability to the Board as of the last day of any fiscal year on 180 days prior written notice if for any reason the Association's prorated shared expenses shall be less than ___% or greater than ___%.
Notwithstanding, this Agreement shall not be terminated by either party prior to October 1, 1995.
* After January, 1996, the contract may be canceled by either party with twelve months written notice. The agreement shall be automatically extended for successive five-year terms unless one party gives the other twelve months written notice of termination.
* In the event of substantial dissatisfaction during the first year of the agreement, either party may serve written notice on the other party of intent to terminate the agreement, specifying the reason and, at that party's option, setting an effective date for termination, no less than 90 days after the notice is delivered.
After the first year of the agreement, either party may request termination of the agreement without cause by serving not less than 90 days written notice upon the other, unless the parties agree on a lesser time.
Executive Officer's Provisions:
* The (service provider) Board of REALTORS® ("the Board") will provide an Executive Director to assist in leadership and guidance of the Association. Although the Executive Director is an employee of the Board and should report to the Executive Vice President of the Board, in the event the Executive Director resigns or leaves, the ________ Commercial Association of REALTORS® reserves the right to approve the new appointment.
* The __________ Commercial Association of REALTORS® is not hiring the personnel of the (service provider) Board of REALTORS® as its employees, but through an independent contractor relationship with (service provider) Board of REALTORS®. The service provider shall be responsible for taxes, insurance, and compliance with laws/regulations relating to personnel employment. The __________ Commercial Association of REALTORS® shall not be responsible therefor.
* The (service provider) Board of REALTORS® will perform administrative for the __________ Commercial Board of REALTORS®, to include Executive Officer. The __________ Commercial Board of REALTORS® will compensate (service provider) Board of REALTORS® for these services as indicated above.
* The (service provider) Board of REALTORS® shall provide the services of an Executive Vice President for the __________ Commercial Board of REALTORS®.
* The service provider) Board of REALTORS® ("the Board") shall permit its Executive Vice President to also serve as the Executive Vice President of the __________ Commercial Board of REALTORS® ("the Commercial Association"); and the EVP shall have the responsibility to hire and discharge staff.
* Both parties will be utilizing the same EVP and it is the intent of both parties to resolve any conflicts which may occur during the term with respect to such utilization.
*During the term of the agreement, if the EVP is replaced by the Board, the Board will ask for input from the Commercial Association in the decision to replace and the selection of a replacement, but the final decision rests with the Board. The Association will not have the option of declining to participate in the new Executive Vice President's salary and benefits.
* The service provider) Board of REALTORS® ("Management") shall provide the ________ Commercial Association of REALTORS® ("Commercial Association") an employee to serve as the Executive Vice President of the Commercial Association, who may also provide services to other entities, including, but not limited to, the (service provider) Board of REALTORS®. Should there be a change in the current Management EVP, the Commercial Association Board of Directors shall have the right to approve of the new EVP or immediately seek other management and void this contract.
Special provisions:
* The (service provider) Association of REALTORS® Multi-board Management Program (MMP) was designed expressly to provide contract management services to REALTOR® boards, and currently serves three local boards. The system is capable of managing membership record, handling all financial transactions, producing detailed financial reports, publishing photo directories, etc.
* The (service provider) Board of REALTORS® has in place a state-of-the-art new member orientation kit, designed to be customized by local Indiana REALTOR® boards.
* The Board will make every effort to explore manners in which the two organizations can be more closely integrated with each other to complement each others' programs.
* In the event that the _____________ Commercial Association of REALTORS® ("Commercial Association") wishes the (service provider) Board of REALTORS® ("the Board") to provide any services or make any expenditures, the Board shall provide the services or make the expenditures if:
- The particular service or expenditure is described in the Commercial Association's budget for the fiscal year and sufficient funds remain in the Commercial Association's bank account maintained for the purpose of paying for services and expenditures; or
- The particular service or expenditure is described in the Commercial Association's budget for the fiscal year and the Commercial Association provides sufficient new funds to the Board to pay for the service or to make the expenditure; or
- The Commercial Association requests in writing that the Board provide such service or make such expenditures and the Commercial Association provides sufficient new funds to Management for payment for service or to make the expenditure. Each party has the right to contract for other services not covered by this Agreement at its own expense. Further, with respect to any equipment, goods materials or services which the Commercial Association desires to purchase or hire, the contract, purchase order or other agreement with respect thereto shall be entered into in the name of the Commercial Association, and the Board shall not be obligated to contract for the same in its own name on behalf of the Commercial Association.
* In the event the ___________ Commercial Association ("Commercial Association") wishes (service provider) Board of REALTORS® ("Management") to provide any services or make any expenditures not included in this Agreement, Management shall provide the services or make the expenditure if:
- the particular service or expenditure is described in the Commercial Association's budget for that calendar year and sufficient funds remain in the Commercial Association's bank account maintained by Management to pay for the service or to make the expenditure; or
- the particular service or expenditure is described in the Commercial Association's budget for that calendar year and the Commercial Association provides sufficient new funds to Management to pay for the service or make the expenditure; or
- the Commercial Association's Board of Directors requests, in writing, that Management provide such service or make such expenditure and the Commercial Association provides sufficient new funds to Management to pay for the service or make the expenditure.
_____________________________________________________________________________________________
General Association Information:
This information will be updated from NAR's membership system with current information. If you have new changes which have not been submitted previously, we will be happy to forward the information to Member Records.
______________________________________________________________________________________________
Structure Information:
Structure Name: What is the structure name? The structure's mailing address should be noted if it is different than the board/association.
Association Staff Contact: If a staff person is assigned to the structure other than the Executive Vice President, then the appropriate name, title and phone number (if different from the board) should be listed.
Education Director: If the board/association, or structure has an education director who should be informed about educational products for commercial specialists they should be listed here.
Structure Type: What type of structure is the group? The options are: Special Committee, Committee, Division, Society, Council, and Commercial Board.
Jointly Owned: If this structure is a joint venture, other participating boards/ associations should be listed.
Separately Incorporated: Yes or No
Date Organized: The original organization date for the structure.
Membership: The structure's current or average membership figure.
_______________________________________________________________________________________________
Benefits/Services Offered:
To indicate that any of the following services are offered place an "x" in the brackets before that service on the form which follows. If there are additional services you offer which are not listed please add them.
Commercial Listing Service NOTE: Residential MLSs which allow for the inclusion of commercial listings are not considered Commercial MLSs.
Vendor: Developer of the system, Realtron, Boris, Moore, etc.
Separate from residential: Yes, if a separate data base, system, or membership fee.
Regional: Yes, or blank
If yes, shared with: List the boards/associations who participate in or have access to this information data base.
Shared via: How information is shared: listing book, on-line, or both.
Commercial Listing Exchange:
Vendor: Developer of the system, Realtron, Boris, Moore, etc.
Separate from residential: Yes, if a separate data base, system, or membership fee.
Regional: Yes, or blank
If yes, shared with: List the boards/associations who participate in or have access to this information data base.
Shared via: How information is shared: listing book, on-line, or both.
Data Base of Market Info: Check off any of the types of information that are available.
CI Specialist Orientation Yes, if separate or additional program offered to welcome and orient new commercial members to board/association.
Member Directory Yes, if a roster or directory of commercial members is produced.
Peer Arbitration Yes, if a separate panel/list of commercial specialists is utilized.
Continuing Education Yes, if required in state for relicensure, or blank
Commercial Education Yes, if the board/association offers or jointly sponsors commercial education programs with affiliate chapters or other boards/ associations. Please list the programs you have developed or offered more than once. If they are for CE credit this should be noted, and the number of hours for which they have qualified.
Coordinated Advertising Yes, if board provides service to place adds in local media.
Standardized Forms Standardized contracts, listing agreements, etc., developed and provided to members by the local group.
Logo for cards/stationery
Library Services
Legislative
Seminars/Special Meetings/Networking Opportunities
Conference/Expos
Property Tours
Economics and Research Statistics
Affinity Programs Volume buying power discounts. Please list: cellular phones, etc.
________________________________________________________________________________________________
Structure Leadership:
List all of the structure's leadership including their titles: President-Elect/ Chairman-Elect, President/Chairman, Vice-President/Vice-Chairman, Secretary, Treasurer, etc. Include their firm name, address, office and home telephone, fax, and the dates of their term of office. We also track past leaders and appreciate updates to their records as well.
If you have questions you may contact, Tim Kline (312) 329-8598, FAX (312) 329-8338
Rev. Structur.Inf/CSDFDir.SAM
COMMERCIAL STRUCTURE DATA FORM
GENERAL ASSOCIATION INFO:
Association Name: __________________________ ( ) State , or ( ) Local
City: ________________________ State: ___________________
(mailing address and other info will be taken from NAR membership System)
****************************************************************************************************************************
STRUCTURE INFO:
Structure Name: _________________________________________________________
(only if different from above)
Mailing Address: _________________________________________________________
City: _________________________ State: ___________________ Zip: _________________
Web Site: _____________________
(check) ALL THAT APPLY:
Structure Type: ( ) Committee ( ) Division/Society/Council ( ) Commercial Board ( ) Other _________________
( ) Jointly owned Division (participating boards) ___________________________________________________________
______________________________________________________________________________________________
( ) Separately Incorporated
( ) Director Representation on Association Board of Directors
( ) Additional annual membership/subscription fee: $________
Date Organized: ___/___ /___ Membership: _____________
****************************************************************************************************************************
BENEFITS/SERVICES OFFERED:
( ) Commercial Listing Service (vendor) __________________________
Separate from residential: ( ) yes ( ) no
Regional: ( ) yes (If yes, shared with: ) __________________________ ( ) no
Shared via: ( ) listing booklet (frequency) __________________________ ( ) online
( ) Commercial Listing Exchange (vendor) ________________________
Separate from residential: ( ) yes ( ) no
Regional: ( ) yes (If yes, shared with: ) __________________________ ( ) no
Shared via: ( ) listing booklet (frequency) __________________________ ( ) online
( ) Data Base of Market Info [ ( ) tax records, ( ) census info, ( ) closed listings]
( ) Recognition Program (name, requirements)___________________________________________
( ) Marketing Sessions (frequency) ( ) Weekly ( ) Monthly ( ) Quarterly ( ) Semi-Annually ( ) Annually
( ) CI Specialist Orientation for New Members
( ) Member Directory
( ) Newsletter/Communications (frequency) ( ) Weekly ( ) Monthly ( ) Quarterly ( ) Semi-Annually ( ) Annually
( ) Peer Arbitration (separate list of commercial specialists maintained)
( ) Continuing Education (check if CE required in state)
( ) Commercial Education offered (attach separate list of courses offered)
( ) Coordinated Advertising (board provides service to place adds in local media)
( ) Standardized Forms (Standardized contracts, listing agreements, etc., developed and provided to members by the local group)
( ) Logo for cards/stationery
( ) Library Services
( ) Legislative
( ) Seminars/Special Meetings/Networking Opportunities
( ) Conference/Expos
( ) Property Tours
( ) Economics and Research Statistics
( ) Affinity Programs: Volume buying power discounts: cellular phones, etc. (please list) ___________________________
______________________________________________________________________________________________
( ) Other _____________________________________________________________________________________
****************************************************************************************************************************
STRUCTURE LEADERSHIP: OFFICERS Term of Office ___/___ /___ to ___/___ /___
List all of the structure's leadership including their titles: President-Elect/Chairman-Elect, President/Chairman, Vice-President/Vice-Chairman, etc. Include their designations, firm name, address, office and home telephone, fax, E-Mail address, and the dates of their term of office. Use additional sheet if necessary.
Name ____________________________ Title (President/Chairman): __________________________
Designations: ________________________
Firm Name: _____________________________________
Address: _______________________________________
City: ___________________________ State: ____________________ Zip: _________________
Tel. B: (__ )______________ H:(__ )______________ Fax: (__ )______________ E-Mail: _________________
Name ____________________________ Title (President-Elect/Chairman/Elect):
__________________________
Designations: ________________________
Firm Name: _____________________________________
Address: _______________________________________
City: ___________________________ State: ____________________ Zip: _________________
Tel. B: (__ )______________ H:(__ )______________ Fax: (__ )______________ E-Mail: _________________
Staff Contact: ___________________________ Title:
__________________________
Phone: (__ )______________ E-Mail: _________________
Completed forms and supplementary materials may be sent to: National Association of REALTORS®, Member Services, 430 N. Michigan Avenue, Chicago, IL 60611-4087. Please add us to your mailing list if you haven't already done so. If you have questions you may contact, Tim Kline (312) 329-8598, FAX (312) 329-8338.
Structur\Ltr&Frms\CSDatFm.SAM Rev. 3/12/96
Please take a couple minutes to provide your feedback and comments.
1. Are the materials provided in a useful format? (circle) Yes No
If No, what format would you prefer?___________________________________________
_______________________________________________________________________
_______________________________________________________________________
2. How was this guide useful? (check)
( ) It was useful in forming a commercial structure.
( ) It was useful in reorganizing an existing structure.
( ) It supplied us with ideas on how to better serve our members.
( ) It was/was not useful because:_____________________________________________
_______________________________________________________________________
3. What did you find most useful? _____________________________________________
_______________________________________________________________________
_______________________________________________________________________
4. If you could request additional information on specific services, which services would that be?
_______________________________________________________________________
5. Is there anything else you would like to see added? ______________________________
_______________________________________________________________________
_______________________________________________________________________
Use a separate sheet for additional comments. Thank You for providing your feedback!
memserv\c&i\strguide\csgeval