Metropolitan Indianapolis Board of REALTORS New Member Orientation A copy of the slides presented today will be available online at www.mibor.com/members/member_forms.asp
Steve Sullivan Chief Executive Officer Arriving in 1990, he assumed the reins of a successful professional trade association, recognized primarily for its in-house listing service, now registered as a Broker Listing Cooperative listing service and some local lobbying efforts. During his time, the organization has grown in a variety of ways that make it a valuable resource in the real estate industry today, recognized regionally and nationally. MIBOR s membership has grown from 3,200 members to 6,200 members. Its assets have grown from $3,000,000 to over $8,000,000. Its influence is spread over 13 counties. Not only does it advocate for a minimally restrictive legislative environment, but also for a healthy real estate market in central Indiana. Major efforts in supporting economic development have become a strategic component of its efforts. Additionally, state of the art systems: Web based property information system with full GIS components and an electronic home access system make transactions amongst its members efficient. Serving as its Chief Executive Officer, he has positioned the association to have an impact in a rapidly changing industry.
Tom Renkert Director of Business Support Services TomRenkert@MIBOR.com
Tom Renkert Director of Business Support Services TomRenkert@MIBOR.com
Professional - All in a Name It s not REAL-A-TOR It s not REAL-A-TER Just nice crisp REALTOR Not all licensees are REALTORS REALTOR is a trademarked name 5
REALTORS Agree to be bound by the 17 Articles of the Code of Ethics Competency, fairness and high integrity Spirit of cooperation, share information Identify unethical conduct and take steps to report it. Become and remain informed on issues affecting real estate.
The REALTOR Association National Association of REALTORS Public policy advocacy at national level Development and interpretation of ethics Public policy framing for all industry issues Voice for real estate nationally www.realtor.org, packed full of tools and industry info. Indiana Association of REALTORS Statewide forms for legal aspects of transactions License law interpretation and communications Public policy advocacy at state level Metropolitan Indianapolis Board of REALTORS 7
How do they reach you? IAR Publications The Indiana REALTOR Advocate Delivered via email to all members on the first and third Fridays of each month. Note: IAR uses the email address on file with your National REALTOR Database System (NRDS) record. 9
How do we reach you? IAR Social Media YouTube www.youtube.com/indianarealtors FACEBOOK www.facebook.com/indianarealtors 10
Why Does MIBOR Exist? CORE PURPOSE To provide a professional, supportive environment for MIBOR members VISION That REALTORS work in an environment that enables prosperity MISSION Foster a healthy and orderly marketplace for members 11
MIBOR Today Over 6,000 REALTOR and affiliate members Members in 10 counties, BLC listing service in 13 counties 5,700 + REALTOR members make up 1,810 companies, 25 of which are multi-office companies 12 12
How do we reach you? MIBOR Publications Fast Track: weekly (Monday) e-mail distribution to entire membership. Fast Track publications include: MIBOR Spotlight; Tech Spotlight; Member Advocacy Spotlight; Market Spotlight; (month) Spotlight Broker Blast is an e-mail delivered to brokers every other Friday. 13
How do we reach you? MIBOR Publications: Market Spotlight MIBOR releases Statistics via Fast Track: Market Spotlight. Data is pulled the 12 th business day of the month and distributed in Fast Track the following Monday. Find archived stats here: http://www.mibor.com/members/reports_stats.asp 14
How do we reach you? Social Media www.youtube.com/miborboard www.facebook.com/mibor 1,670 Likes www.twitter.com/miborboard 1,888 Followers 5,462 Views 15
How Can You Access Member Info? www.mibor.com/mobile Search for member information directly from your mobile phone Find member info in the BLC Listing Service under Member Info/Member Search Click on Find a Professional at www.mibor.com *MIBOR Members can also be found on the LinkedIn Group: MIBOR (official)
MIBOR Website 17
Independent Contractors Services Fees Federal Antitrust Laws
MIBOR Board of Directors GOVERNED BY VOLUNTEERS Eleven elected by membership Four specialty seats Four officers 2013 MIBOR President Rick Lux, R.P. Lux Company 19
MIBOR Districts Broker offices are placed into one of six regional districts around the region determined by zip code. Commercial District District 8 Appraisers District 7 Affiliates 20
MIBOR Divisions Fourteen recognized divisions around the region allow you to network and take advantage of local leadership and volunteer opportunities. Division website lists Division activities and meeting dates www.mibordivisions.com 21
MIBOR YPN: Young Professionals Network Member-driven group that helps young real estate professionals excel in their careers by giving them the tools and encouragement to become involved in four core areas: REALTOR Associations: Attend REALTOR conferences and pursue leadership roles with their local, state and national associations. Real Estate Industry: Take an active role in policy discussions and advocacy issues; be informed about the latest industry news and trends. Peers: Network and learn from one another be attending events, participating in online communications and seeking out mentoring opportunities. Community: Become exceptional members of their community by setting a high level of REALTOR professionalism and volunteering for causes they feel passionate about. www.miborypn.com www.facebook.com/miborypn
INDUSTRY ASSUMPTIONS REALTORS add value to a transaction Adherence by REALTORS to professional and ethical standards will continue to be inconsistent and challenging Diversity and demographics of real estate ownership and the industry will continue to change Economic development that results in the creation of new jobs will have a positive impact on real estate Industry consolidations and polarization will continue Successful REALTORS will adjust to changing expectations of the consumer and each other Housing stock for median incomes will continue to be available within the greater market area and a deficiency of workforce housing will continue to exist in some pocket areas Real estate business models will continue to emerge
INDUSTRY ASSUMPTIONS Traditional cooperation and compensation will be challenged Technology will continue to impact the industry A segment of consumers will not use a REALTOR. First point of contact by consumers and agents continues to be challenged as technology grows Consumers, technology, and third party entities will exert downward pressure on commissions Short sales and foreclosures will continue to impact the market Quality of education in public schools will continue to impact job creation, housing values, and desirability of locations There will be increased pressure on our industry through a variety of taxation proposals The average age of new members will be lower than the average age of current members
INDUSTRY ASSUMPTIONS Energy costs, access to public transportation, property taxes and job opportunities will affect where people decide to live Implementation of mass transit initiatives in greater Indianapolis will have a positive effect on our industry Lending practices and guidelines have a major impact on the market Political decisions impact the real estate market Communication is becoming more impersonal, digital, and instantaneous
MIBOR Structure Professional Services and Industry Issues Housing Issues Business Practices Dispute Resolution REAL Programmatic Business Support Services BLC Listing Service Product Research, Evaluation Broker/Agent Tools Member & Industry Advocacy Local Legislation and Regulation Public Policy Economic Development Community Issues Operational Operations/Finance/Communications Strategic Planning, Accounting, Budgeting, Forecasting Public Relations, Media Relations, Events 26
MIBOR s Goals A healthy, vibrant real estate market exists throughout the central Indiana region. The real estate industry is free of undue local restrictions, regulations and/or legislation. Members transactions are efficient. Members transactions are ethical and conflict free. 27
How your dues dollars support MIBOR s Goals Goal One: A healthy, vibrant real estate market exists throughout the central Indiana region $479,000 is budgeted to position MIBOR members as leaders in the economic development movement. While economic development is not the responsibility of REALTORS, we can influence and contribute to those whose mission it is to increase jobs, wages and the labor force. MIBOR invests in a seat on the board of directors for all of the local economic development organizations in our 10 county area. REALTOR members serve on these boards. 28
Regional Cooperation A Look at Commuting Patterns 2010 Tippecanoe Tippecanoe 1,026 Fountain 95 Montgomery 794 Parke 232 Putnam 3,248 Owen 1,117 Clinton Tipton Madison Delaware 682 498 7,374 1,411 Boone Hamilton 11,285 56,268 Henry 2,305 Hancock Hendricks Marion 17,407 37,359 Rush Shelby 1,010 Morgan 14,671 Johnson 30,920 5,274 Decatur Bartholomew 507 Brown Monroe 1,217 1,184 1,213 Fountain 12 Parke 8 562 Clinton 84 Montgomery Boone 116 1,274 Hendricks Putnam 7,400 132 Morgan 1,007 Owen 25 Monroe 553 Tipton Delaware 32 Madison 316 Hamilton 701 12,870 Marion Johnson 5,721 Henry 118 Hancock 1,696 Rush Shelby 41 766 Decatur Bartholomew 196 Brown 795 25 Source: STATSIndiana, Updated 4/27/2010 29
The Stats House Database RSS feed www.thestatshouse.org 30
How your dues dollars support MIBOR s Goals Goal Two: The real estate industry is free of local undue restrictions, regulations and/or legislation. MIBOR as an advocate for you. Every day laws are passed at the local, state and federal level that impact the real estate industry. Whether zoning, license law, sign regulations or taxation, MIBOR is your advocate on issues that affect your business. 31
MIBOR as an Advocate for You MIBOR s Member and Industry Advocacy Department monitors over 50 local units of government (10 counties and 40 cities and towns) for issues that impact real estate and our communities. Member and Industry Advocacy Staff - 317/956-1912 Chris Pryor, Member and Industry Advocacy Director x240 Lex Fay, Political Affairs Liaison x250 Sara Laycock, Economic and Community Development Liaison x258 32
REALTORS Political Action Committee (RPAC) RPAC allows members to voluntarily contribute funds for the political process. Funds are used to support candidates at all levels running for elected office and to advocate for REALTOR issues. RPAC is consistently one of the top ten political action groups in the U.S. 33
REALTORS Political Action Committee (RPAC) RPAC Pig Fundraising Campaign Get your pig today: Contact Lex Fay at 317/956-5250 www.facebook.com/rpacpig 34
How your dues dollars support MIBOR s Goals Goal Three: Members transactions are efficient. $3.26 million (BLC fees) is budgeted to operate and update the BLC Listing Service and the electronic lockbox system. Broker Listing Cooperative Listing Service Tempo Fusion MIBOR Mobile Lockboxes 35
How your dues dollars support MIBOR s Goals Goal Three: Members transactions are efficient. For over two years a task force examined options to upgrade MIBOR s keypad and electronic lockbox program. Sentrilock, LLC Electronic Lockbox Program 36
Broker Listing Cooperative Listing Service Repositioning of MLS No Longer Descriptive What It Is Whose It Is How It Works 37
Broker Listing Cooperative Emphasis on Cooperation and Compensation Broker Owned Not a Public Utility 38
Broker Listing Cooperative Usage Reference the system as the BLC Listing Service (not the MLS) Please use the BLC trademark when referencing anything related to the service (i.e., BLC #, BLC listing service, etc.) Include this usage in your marketing materials If you have questions on proper usage or need to download a BLC logo, visit www.mibor.com/blc or contact Karen McGuire at 317/956-5280. 39
BLC Listing Service Training & Support Training Classes Include: Basic Class; Focus Class: Prospecting and Custom Searches; Focus Class: CMA and Mapping; Advanced Class; Admin Class; BLC Statistics To register, log on to ims.mibor.com or call 317/956-5000 x1 Support: Contact the Help Desk at helpdesk@mibor.com or 317/956-5000 x1 Submit a ticket at www.miborhelpdesk.com 40
National Exposure for MIBOR s Listings 41
Hitwise Industry Report: Real Estate Top 10 Web sites 42 Updated 12/4/10
Components of the BLC Listing Service Categories of Properties Current # of Active Listings 20,325 Single Family 12,452 Condominium 1,133 New Construction (Res/Condo) 512 Vacant Lots/Land 3,553 Average List Price $201,811, Single Family $199,825 Condominium $167,298 New Construction (Res/Condo) $349,477 Vacant Lots/Land $154,487 Dollar Volume of Active Listings $4,101,808,575 Updated 11/30/2013 43
Broker Listing Cooperative Listing Information Accuracy Listing Information Accuracy, while remaining relatively unchanged over the past two years, continuously has had the most difference between the four segments of members. Excellent / Very Good Q11b: How would you rate the BLC service on the accuracy of listing information?
How your dues dollars support MIBOR s Goals Goal Four: Members transactions are ethical and conflict free. $224,000 is budgeted by Professional Services and Industry Issues to promote the Code of Ethics and to tackle issues that affect REALTORS. Debbie Fairfax Professional Services Director Shannyn Stokes Professional Services Specialist 45
Professional Services/Industry Issues Professional Standards Processes Ethics Complaints Arbitration Requests Mediation Ombudsman Problem Prevention 46
Professional Services/Industry Issues Past Task Forces Mortgage Fraud Task Force Cooperation Task Force Foreclosure Task Force Housing Task Force Short Sale Task Force Current or Ongoing Task Forces: Appraiser Task Force Multi-Industry What To Look For in a Pre-Approval Letter Title Insurance Group Tips for Smoother Closings REALTOR/Builder Cooperative 47
Professional Services/ Industry Issues Top 10 Top 10 Issues Facing Members Today: 1. Advertising 2. Procuring Cause 3. How to file a complaint 4. Suspicious Reports 5. License Law Questions 6. Earnest Money Disputes 7. Legal Issues 8. Multiple Offers 9. Professionalism Concerns 10. Sign Ordinances 48
Problem Prevention Advertising, websites, signs, etc. must include company name in larger letters than licensee s. Directional signs are prohibited in most areas, check the local ordinance. REALTOR is a trademark, check before you publish. REALTOR, Realtor, or REALTOR are acceptable uses.
The REALTOR Foundation Linking hope to homeless MIBOR s Philanthropic Arm Founded in 1984 17-member board of directors Primary focus on homelessness in central Indiana transition from emergency shelter to permanent supported housing Mission: To transition central Indiana individuals from homelessness or inadequate or unsafe housing to permanent solutions that will positively change their lives. 50
The REALTOR Foundation Over $875,000 in funding to local organizations since 2004 The face of homelessness surprises many 1,500 a day in Marion County alone The average age of a homeless child in central Indiana is seven years old. Approximately 15 percent are children. Approximately 2,925 in Marion County schools do not have a home of their own 45,000 on the verge of homelessness due to inadequate affordable housing options. 51
The REALTOR Foundation Members are recognized for their donations on the donor wall displayed in the lobby Brokers are instrumental in building support for the Foundation by encouraging agents to: Donate Volunteer Attend Fundraising Events More than 407 members donated $122,152 in 2012 www.realtorfoundation.org 52
Building a Living Legacy project was the philanthropic highlight of the Centennial year! All 32 homes are occupied! The official centennial site is www.mibor100.com. This provides construction updates, videos, historical timeline and more www.mibor100.com 53
Dona Keefe Communications Liaison Ask Dona Direct: 317-956-5245 E-mail: donakeefe@mibor.com www.facebook.com/justaskdona Twitter: @justaskdona