2016 TAAR Annual Report

Transcription

1 2016 TAAR Annual Report

2 President s State of the Association Report Beccy Janis Fellow REALTORS, Affiliates and TAAR Staff, As your association leader I have been given an extraordinary opportunity to help direct the course of our association and our regional industry for the briefest of periods. Yet because I am in the company of so many wonderful professionals both on our Board of Directors and our TAAR committees, a President of this organization has the unique gift of working closely with colleagues who have truly invested themselves in the industry. These dedicated members have helped to maintain a course that was first laid out in 2013 through a strategic planning process designed to take advantage of an improving real estate market, a growing economy, and a new regional multiple listing service which had just been launched the year before. Because we had a leadership team that was committed to excellence and progress it is my pleasure to report to you that the state of our association is good. No let me restate this, it is better than good I d venture to say that our association is most likely in the best position that we ve seen for a really long time. This is not just in a fiscal sense but also physically and operationally. Much of this success I attribute to the exceptional work of the various committees and task teams and the missions that they perform to inform and support our Board of Directors. I am so impressed with the way they have adopted our value proposition and have worked selflessly to improve the member experience. We have been truly blessed not only from the work of these task teams but also form the work of the standing and special committees that make up our organization. I encourage all members to take a turn at participating in one of these task teams, committees or run for a board position. Like me you ll learn so much more about our association and the value it represents just by being involved. Continues on Next Page

3 President s State of the Association Report Beccy Janis Coldwell Banker Schmidt We are on a solid financial foundation and we are in a growth mode. We have very little longterm debt and our staff and leadership teams are committed to providing some of the best REALTOR association value available in the industry. To do this we must encourage our leadership and our staff to stay on top of state and national REALTOR association trends and information. We must stay on the leading edge of the discussion when it comes to changes in the MLS industry, and we must do our best to communicate all of these things to our membership. The state of our association is the most viable and visible that it has ever been and we should use this position to further our cause and improve our status and value among our regional population. There has never been a better time fro REALTORS to spread their message and strengthen our resolve to protect private property rights, promote homeownership and build resilient and communities. Please join me, our Board and the rest of your association peers to extend our influence and appeal throughout Northern Michigan and expand our place of prominence in the National Association of REALTORS by continuing to be one of the most positive, productive, and innovative local Boards of REALTORS in the country.

4 Treasurer s Report Kellie Sergent Let me begin this report by thanking the members of the Budget and Finance Committee for their time and effort on our association s behalf. I d also like to thank the Investment Committee members who helped us make some solid recommendations to the Board of Directors. These two committees along with staff have provided us with a solid financial plan. The audit review this year came back with no major or minor findings. The Independent Account s Review Report is on file on the Members Only website for your review. The fiscal budget cycle included a couple of changes made by the Board of Directors based on recommendations of the Budget and Finance and Investment Committees. We added a Human Resource Fund to earmark some dollars for any potential search or recruitment of TAAR staff actions. We increased the Reserve Fund from 4.5 months of operating funds to 6 months of operating funds per NAR s Core Standards guidelines. We created a supplemental retirement and life insurance program for our EVP with the TAAR as a beneficiary. We purchased the property directly behind the board office at 833 Fern Street to hopefully expand our parking lot in the near future. Through a competitive bid process we also retained our Management Agreement of the NGLRMLS LLC for another three-year cycle. Our non-mls revenue by source has moved from 32% pre-nglrmls to 45% which places our association in a much more resilient position. All of this activity has been accomplished without raising dues or fees. In fact we ve not had a local dues increase since the spring of 2007 due to an improving economy and several years of prudent financial management by our association leadership. In conclusion our association is in a strong financial position with mechanisms and timelines in place to meet all of our current financial obligations. It has been my pleasure to serve as your Secretary Treasurer this past year and I want to again thank the members and staff for their support and cooperation. A copy of this report will be available on the TAAR Members Only website following this meeting.

5 TAAR Affiliate Members The TAAR enjoys one of the largest bodies of Affiliate Members in any real estate association in the country. With the help of our REALTOR partners, the Affiliate Ambassador Committee is investing today in the future success of our real estate professionals. The Affiliate Members of the Traverse Area Association of REALTORS are committed to bringing additional value and business opportunities to the real estate community and we would like to acknowledge all of our great Affiliate members below. TAAR AFFILIATE MEMBERS AAA Self Storage Cherryland Electric Ford Insurance Agency Lighthouse Title Send Out Cards Absolute Home Services, LLC Chic Home Staging and Design, LLC Front Street Mortgage Mbank So-dry Carpet Cleaning LLC Access Title Agency, LLC Chris Killen Allstate Agency Genisys Mortgage Professionals Mercantile Bank of Michigan Sondee Racine & Doren PLC Alden State Bank Commercial Software, Inc. Global Private Risk Insurance Metro Consulting Assoc., LLC Sparkle Wash America s Carpet Barn Commission Express of SE Michigan Gosling Czubak Michigan First Mortgage State Savings Bank America s Preferred Home Warranty Compliance, Inc. Gourdie-Fraser Association Michigan Mortgage Lenders Assn Susan Rauser State Farm Amerifirst Home Mortgage Conflict Resolution Solutions Greenstone Farm Credit Services Mid American Title Suttons Bay Trading Company Antrim County Title Cordia at Grand Traverse Commons Greenstone FCS Minervini Group TBA Credit Union Arbors of Traverse Apartment Corporate Settlement Solutions Grover Law Firm Morse Moving and Storage TC Area Chamber of Commerce ASB Services, Inc. Craig Wealth Advisors GSF Mortgage Mortgage One TC Business News Asherpark Custom Homes Credit Union One GT Land Conservancy MSHDA ` TC Record-Eagle ASK Home Inspection, LLC Crossroads Title Hobbs Drone Photography North Coast Home Inspection Team One Credit Union Aspen Contracting, Inc. Crystal Clear Title & Escrow Home Builders Association Northern Title Agency The Reverse Mortgage Center Attorneys Title Agency Dan Brady Painting Home Inspections USA Northwestern Mutual The Talon Group Best Inspection Denoyer Inspection Service, LLC Honor Bank Northwood Homes The Wellness Champions Bethany C. Warner & Associates Direct Search Huntington Mortgage Group Paul Davis Restoration & Remodeling Transnation Double D Title Big Moose Home Inspections Inc. Doug Rigan Inspection Service Idea Stream Pristine Floor Care Traverse City Home Inspections BlueLaVaMedia DTE Gas INACOMP Computer Real Estate Education Services Traverse City State Bank Bowerman, Bowden Eagle-eye Drone Service, LLC Independent Bank Red Brick Mortgage Traverse Northern Michigan Butch Strait Inspections Emington Insurance Agency J. Scott Smith Visual Designs Reverse Mortgage Consultant Traverse Reproduction & Supply Cadillac Mortgage Exclusively Northern Michigan Jarvis, Kindlinger Riverside Title Company Union Home Mortgage Caliber Home Loans First Community Bank Lake Living Services, Inc. Robinson Electric Inc. V3 Aerial Capital Title First Merit Lake Michigan Credit Union Roger to the Rescue Wells Fargo CFC Title Services Flood Fighters Lake States Title Ross Mortgage Corporation Williams Pumping Chemical Bank Floor Covering Brokers Lakeside Title, LLC Roto-Rooter of Northern Michigan Win Home Inspection Cherry Canyon Designs

6 REALTOR Education Services The Traverse Area Association of REALTORS continues to offer financial assistance through the REALTOR Education Services (RES) Scholarship Fund, an endowment fund that provides educational scholarship dollars to eligible TAAR REALTOR Members. The RES was founded by former TAAR Executive Vice President Judith Lindenau nearly 27 years ago. Of particular interest to Judith was the Traverse City Chamber's Leadership Grand Traverse Program (LGT); a valuable program that prepares participants for decision-making leadership roles in areas such as policy, program implementation, and organizational maintenance. The following TAAR Members have benefitted from this program in 2016: Spring 2016 TAAR recipient, Ann Porter Coldwell Banker Schmidt 402 E. Front St. Fall 2016 TAAR recipient, Alexis Juett RE/MAX Bayshore Properties The Judith Lindenau LGT Scholarship Fund continues to operate through personal and business donations to the TAAR Legacy Project and Legacy Gorden; a brick patio located on the TMR grounds which serves as a gathering area for education, training, and social events, as well as a way of honoring the past and present contributors to our region's most successful profession. In 2016, the Traverse Area Association of REALTORS offered its membership a total of 42 different membership events providing high quality Education, Professional Development and Networking opportunities for TAAR REALTOR and Affiliate Members. These events included: 17 Lunch & Learns 6 Continuing Education Classes 6 TAAR Membership Events including bringing National Association of REALTORS Chief Economist Dr. Lawrence Yun 5 REALTOR Safety Series Sessions 5 Affiliate Ambassador Committee Socials 3 TAAR Member Meet and Greets Leadership Grand Traverse Recipients

7 TAAR STAFF & 2016 BOARD OF DIRECTORS TAAR STAFF Kim Pontius Executive Vice President Jennifer Kowal Membership Services Director Lora Nesbitt Laura Lynn Turmel Lars Kelto NGLR-MLS Administrator Accounts Manager Technology Director Connor Miller Communications & Marketing Director Lauren Tracey Membership Services Assistant 2016 TAAR Board of Directors Beccy Janis Ken Kleinrichert Catherine Barris Joni Holly President Past President Director Director Coldwell Banker Schmidt Coldwell Banker Schmidt Real Estate One Homewaters, LLC Traverse City Traverse City Traverse City Cadillac Jamie Grace Stephen Karas Carolyn Collins Barbara Hood President - Elect MLS Chair/NGLRMLS Representative Director Director Century 21 Northland EXIT Northern Shores Century 21 Northland Stapleton Realty Traverse City Elk Rapids Traverse City Lake Ann Kellie Sergent Amy Thoreson Mark Hagan Mary Janik Secretary Treasurer Affiliate Ambassador Chair Director Director Century 21 Northland Send Out Cards Coldwell Banker Schmidt Homewaters, LLC Elk Rapids Traverse City Traverse City Kalkaska Kathy Wittbrodt Director Wittbrodt Waterside Properties Elk Rapids

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9 INDEPENDENT ACCOUNTANT S REPORT To the Board of Directors Traverse Area Association of REALTORS, Inc. Traverse City, Michigan We have reviewed the accompanying financial statements of Traverse Area Association of REALTORS, Inc. (a Michigan non-profit organization), which comprise the statement of financial position as of June 30, 2016, and the related statements of activity, changes in net assets, and cash flows for the year then ended, and the related notes to the financial statements. A review includes primarily applying analytical procedures to management's financial data and making inquiries of company management. A review is substantially less in scope than an audit, the objective of which is the expression of an opinion regarding the financial statements as a whole. Accordingly, we do not express such an opinion. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement whether due to fraud or error. Accountants' Responsibility Our responsibility is to conduct the review engagements in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. Those standards require us to perform procedures to obtain limited assurance as a basis for reporting whether we are aware of any material modifications that should be made to the financial statements for them to be in accordance with accounting principles generally accepted in the United States of America. We believe that the results of our procedures provide a reasonable basis for our conclusion. Accountants' Conclusion Based on our reviews, we are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in accordance with accounting principles generally accepted in the United States of America Supplementary Information The supplementary information included in the accompanying schedule of operating expenses is presented for purposes of additional analysis and is not a required part of the basic financial statements. The information is the representation of management. We have reviewed the information and, based on our review, we are not aware of any material modifications that should be made to the information in order for it to be in accordance with accounting principles generally accepted in the United States of America. We have not audited the information, and accordingly, do not express an opinion on such information. Kindlinger & Company, P.C. Traverse City, Michigan August 19, 2016

10 The Traverse Area Association of REALTORS is dedicated to promoting advocacy, education, ethics and professional standards for REALTORS