 |
|
| NATIONAL ASSOCIATION OF REALTORS® | Videos | Store | Library | Directories | Need Help? |
| Register | Login | My Account | NRDS |
|
| NATIONAL ASSOCIATION OF REALTORS®
Five-Step Process to Create a Commercial Overlay Board (COB) 1. Select a leadership team to spearhead the effort to propose and create the COB. 2. Identify the COB jurisdiction. Realistically how many members the COB can support? 3. Enlist at least fifteen (15) members and ten (10) firms to be founding members. 4. Asses market conditions; identify potential members, build a member profile, and determine member needs. 5. Develop a strategic plan that identifies the mission, goals, objectives and strategies regarding what core services are needed and how they will be delivered. 6. Develop a start-up action plan that details how the strategic plan will be implemented, financed, and who will be accountable. Send affected associations a notification letter by registered or certified mail 60 days prior to submitting the application to the State Association. The letter should contain a detailed description and color-coded map of the jurisdiction, along with the proposed name. Consult with the associations well in advance to identify potential problems and attempt a resolution before they become divisive. 1. Send the application, signatures, and supporting materials (copies of notification letters and responses; articles of incorporation; bylaws; dues; name; membership; jurisdiction; and governing documents of a Commercial Information Exchange, if any) to the State Association of REALTORS® within 60 days of sending the notification letters. 2. If the application is contested by affected associations or the State, send copies of the notification letters and responses to the State AOR within 10 days of the State hearing, if any. 3. In a contested case, the hearing panel will make its recommendation to the State Association Board of Directors, which considers the contested application and makes its recommendation. If the State BOD recommendation is contested, the disapproving association(s) may request a hearing by the NAR Membership Policy and Board Jurisdiction Committee. 4. The State Association simultaneously makes its recommendation known to all parties including NAR, by registered or certified mail. 1. The State must submit its recommendation to the NAR Membership Policy and Board Jurisdiction Committee within 45 days after the State Association BOD meeting at which the application is considered. NOTE: Applications should be received by the Committee at least 45 days before its national meetings in order to be considered. 2. If the application is not contested, it is sent to the NAR Membership Policy and Board Jurisdiction Committee for review and recommendation to the NAR Board of Directors. 3. If the State recommendation is contested, a hearing panel of the Membership Policy and Board Jurisdiction Committee may be convened to hear the testimony of all parties. The hearing panel makes its recommendation to the Committee. The NAR Board of Directors meets twice annually at the regularly scheduled NAR business meetings. Applicants are notified by the Membership Policy and Board Jurisdiction Committee of the NAR Board of Directors decision following the BOD meeting. CONCLUSION In general, the process of creating a COB goes very smoothly. Even though all groups and markets are different, the committed leadership group may easily complete all requirements from six months to one year. There are a number of resources available to help you through the process. Other COBs can tell you what was helpful for them (you can find them listed online at http://www.realtor.org/structur.nsf), and NAR staff in the Commercial Real Estate (888.648.8321) and the Member Policy (312.329.8399) departments are ready to assist you. The rewards of establishing a COB are numerous, but most of all, commercial members will have their own identity within the local REALTOR® family, they will be better served, and hopefully they will be more competent and more profitable |
  |
 Copyright NATIONAL ASSOCIATION OF REALTORS® Headquarters: 430 North Michigan Avenue, Chicago, IL. 60611-4087 DC Office: 500 New Jersey Avenue, NW, Washington, DC 20001-2020 1-800-874-6500 Terms of Use | Privacy Policy | REALTOR.com | Contact NAR | Site Map |