EBCBOR 2012 Annual Report

The constant conversation these past few years has been, and continues to be,

the change in the way we do business, as REALTORS®. Due to advancements in

technology, there has been a shift in what the consumer wants, needs and expects

from us as REALTORS®. Consumers no longer rely on us to find available houses on

the market; but rather for the counsel, the navigation and the guidance through t

real estate process.

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Association would be there to support you, your business and your clients. We have experienced successful innovations in our businesses, our association and our industry in response to these changes. You endured changes by keeping in touch with us, expressing your business needs, staying informed and educating yourself to work in this shifting environment. You participated in our advocacy efforts, in support of your business and your clients, and I thank you. You are still here. You have survived the recession and are eagerly moving ahead as our economy recovers.

As REALTORS you can rely on the support of an Association for the distribution of information,

education, conflict resolution, advocacy efforts and industry networking. Your Association, Eastern Bergen County Board of REALTORS, stepped up and addressed your needs by providing all the tools necessary for you to strive and succeed, as true professionals.

We, your leadership of volunteers, in partnership with your CEO and magnificent staff strive to

keep this momentum of excitement going. We continually seek to make it an attractive business for you, and new entrepreneurs who wish to build their business around this subject of real estate. And, we look to be a greater voice in our community, as strong defenders and advocates of homeownership.

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2012 President

It is inspiring to look back on the past year and see how successful we have been in

achieving our vision of becoming an Association of excellence. Without question, we have

anticipated and addressed the opportunities and challenges of our profession and we are

providing valuable services to our members. These positive outcomes to the initiatives of our

strategic plan are evidence of the strong and effective collaboration that exists among the

members, the volunteer leadership and the Association staff.

To facilitate increased engagement and to response more effectively to the needs of the

membership, there has been an organizational realignment of the staff resources to complement and reinforce a more support focused infrastructure. Our goal continues to be the local source for “what to do and how to do it better” by offering “best in class” programs and digital information tools and resources.

The EBCBOR brand is the symbol of professionalism, recognized by the consumer and the real

estate community for industry and marketplace news and opportunities. Our position of influence has been augmented through the development of additional forums to connect with the communities we serve to reflect our member’s dedication to civic duty.

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pprrooppeerrttyy rriigghhttss.. The following pages highlight our achievements and honor our leaders and volunteers who have

made EBCBOR the professional home for REALTORS® in Bergen County. Next year we will mark the 90th anniversary of EBCBOR. What an extraordinary occasion to

celebrate the successes of the past and opportunities that lie ahead. Thank you for allowing me to be a part of your esteemed organization. You have enabled me to take our Association to heights you knew were possible and for that I am forever in your debt.

Laura Rubinfeld CAE, RCE, CIPS Chief Executive Officer

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2011 Annual Meeting

September 22, 2011

Agenda

2012 Annual Meeting

1. CALL TO ORDER - Eileen O’Driscoll, 2012 President

2. PLEDGE OF ALLEGIANCE & INVOCATION

3. VERIFICATION OF QUORUM - Laura Rubinfeld, CAE, CIPS, RCE

4. REPORT FROM THE PRESIDENT- Eileen O’Driscoll, 2012 President

5. REPORT FROM THE CEO – Laura Rubinfeld, CAE, CIPS, RCE

6. RECOGNITION OF EBCBOR’S 2011 ROOKIE SALESPERSON OF THE YEAR, Cynthia Abbott

7. Recognition of EBCBOR’s 2012 REALTOR® of the Year –Marie Cordner ABR, ABRM, GRI 2011

REALTOR® of the Year

8. ANNUAL BUSINESS:

Approval of Minutes

Motion to Approve Minutes of September 22, 2011 meeting

Report from the Treasurer – Bowen Pak, 2012 Treasurer

Motion to approve the 2013 Proposed Budget

Nominating – Robert Oppenheimer ABR, CIPS, CRS , Chair

Motion to approve the following candidates as Directors:

Joseph Cervieri (3yrs) Marjorie Scott (3yrs)

Jorge Ledesma (3yrs) Diane Thurber- Wamsley (3yrs)

Alireza Memar (3yrs) Martin C. Huguley (2yrs)

Basil Singh (2yrs) Trisha Ocona Francis (1yr)

Report from Committees –Allegra House ABR, 2012 First Vice President

OTHER BUSINESS: To transact other such business as may properly come before the

meeting.

9. KEY NOTE SPEAKER

The Honorable Kathleen Donovan

Bergen County Executive Officer

10. ADJOURNMENT

2011 Annual Meeting

September 22, 2011

MINUTES OF THE ANNUAL BUSINESS MEETING OF THE

EASTERN BERGEN COUNTY BOARD OF REALTORS®

SEPTEMBER 22, 2011

The Annual Business Meeting of the Eastern Bergen County Board of REALTORS® was

held at the Clinton Inn, 145 Dean Drive, Tenafly, NJ at 9:30AM, Thursday, September 22, 2011.

The meeting was chaired by 2011 President, Eileen O’Driscoll and called to order at 9:45AM.

Eleanor Stern, CRS, delivered the Invocation and led in the Flag Salute.

Laura Rubinfeld, CEO verified that a quorum was present.

Eileen O’Driscoll gave the 2011 President’s Report

Robert Oppenheimer, 2010 REALTOR of the Year announced the 2011 recipient of the EBCBOR

REALTOR of the Year award; Marie Cordner.

Upon a motion duly made, seconded and carried the minutes of the previous annual business

meeting, held on September 16, 2010 were approved.

Upon a motion duly made, seconded and carried, the 2012 Budget as presented by Geoffrey

Gilchrist, 2011 Treasurer was adopted.

Upon a motion duly made, seconded and carried, the following candidates for the 2012 Board of

Directors, as presented by Laureen Campbell, Chair of the 2011 Nominating Committee were

elected:

For a three year term beginning January 1, 2012 and expiring December 31, 2014

Bruce Elichman

Gerald Kotch

Steve Leeman

Robin Malley

Bowen Pak

For a three year term beginning January 1, 2012 and expiring December 31, 2012

Jorge Ledesma

Diane Thurber-Wamsley, First Vice President introduced the 2011 Committee Chairs who reported

to the membership on the activities of their respective Committee.

Barry Goodman Esq. delivered the keynote address “Navigating the Legal Minefield in a

Challenging Real Estate Market”

There being no further business, upon a motion duly made, seconded and unanimously carried,

the business meeting was adjourned at 12:00 PM.

Annual Financial ReportProposed 2013 Budget

Audited Audited Audited Actual Budget BudgetJan - Dec 09 Jan - Dec 10 Jan - Dec 11 Jan - Jul 12 Jan - Dec 12 Jan - Dec 13

Income4000 · Revenue*

4101 · Membership Dues 483,782 438,571 489,899 253,989 467,250 491,000 41012 · New Member Dues - 28,231 15,500 14,250 4102 · Application Fees 41,750 31,678 37,530 25,017 32,500 27,750 4103 · Late Fees 17,275 7,890 6,400 12,750 10,000 12,750 4104 · Reinstatment Fees 7,762 2,950 8,300 14,490 12,500 14,000 4301 · Pro Standards Admin Fees 1,837 2,000 - 4302 · Fines 7,000 4400 · Educational Seminars 217 12,256 16,915 33,999 15,000 35,000 4401 · Online CE Courses 190 844 2,000 4500 · Sponsorships 12,563 34,923 16,815 25,000 35,000 4501 Annual Meetings 2,000 4502 Installation & Holiday Gala 25,000 4503 Triple Play 9,000 4504 Circle of Excellence 2,500 4505 Global Business Council 1,675 4800 · Interest Income 12,983 11,104 4,537 787 5,000 1,500 4900 · Miscellaneous Income 715

4901 · Sales Income- Board Store 391 1,036 586 2,000 1,000 4900 · Miscellaneous Income - Other 676 1,250 300 1,000 1,000

Total 4900 · Miscellaneous Income 220,999 1,068 2,286 886 3,000 2,000

Total 4000 · Revenue 787,324 527,079 600,980 389,483 585,750 675,750 787,324 527,079 600,980 389,483 585,750 675,750

6100 · Cost of Goods Sold (471)

Total Income 787,324 526,608 600,980 389,483 585,750 675,750

Expense5100 · Payroll and Employment Expense

5102 · Wages 201,901 245,568 260,582 145,698 264,000 264,000 5103 · FICA 15,208 17,983 17,111 10,388 19,000 19,000 5104 · FUTA 224 336 346 87 350 350 5105 · SUI/DBL 2,375 5,664 5,174 5,655 5,700 5,700 5112 · Pension Fund 5,937 750 5113 · Health Insurance 9,128 11,355 8,264 4,359 11,500 8,000 5100 · Payroll and Employment Expense 11,929 6,400 6,000 7,560

Total 5100 · Payroll and Employment Expen 246,702 287,307 297,478 174,497 300,550 297,050

5200 · Meetings, Events, Benefits & Services 5210 · Local Meetings and Events

5211 · Annual Meetings 9,828 6,097 11,153 2,725 4,000 6,000 5212 · New Member Orientation 1,424 707 4,247 2,808 4,000 3,500 5213 · Board of Director Expenses 4,725 6,116 7,019 3,607 16,700 10,000 5214 · Committee Expenses 4,149 5,226 1,355 825 2,000 1,000 5215 · Educational Seminars 15,380 31,049 24,537 30,445 15,000 25,000 5216 · Installation and Holiday Party 2,582 15,329 15,151 75 7,500 30,000 5217 · Global Business Council 1,412 - 5210 · Local Meetings and Events - O 25 3,082 1,885 2,500 1,000

Total 5210 · Local Meetings and Events 38,113 64,524 66,544 43,782 51,700 76,500

5220 · Member Services & Benefits5221 · Technology Hot Line 10,416 4,986 4,492 5222 · Public Relations 15,941 9,021 6,082 4,524 3,000 5,000 5223 · Member Benefits and Services 1,750 3,500 5224 · Professional Standards 6,388 1,365 2,093 2,500 1,500

Total 5220 · Member Services & Benefits 26,357 20,394 11,939 8,367 5,500 10,000

5230 · NJAR Meetings and Events5231 · NJAR Convention / TriplePlay 12,589 10,934 11,260 672 6,000 11,500 5232 · NJAR Board of Director Meet 950 1,352 950 600 1,200 1,200 5233 · NJAR Member Events 3,494 4,835 5,881 238 2,000 200 5233 · NJAR Circle of Excellence 3,911 5,000

Total 5230 · NJAR Meetings and Events 17,033 17,121 18,091 5,421 9,200 17,900

Audited Audited Audited Actual Budget BudgetJan - Dec 09 Jan - Dec 10 Jan - Dec 11 Jan - Jul 12 Jan - Dec 12 Jan - Dec 13

5240 · NAR Meetings and Events5241 · NAR Annual Convention 5,430 8,752 9,935 740 7,500 10,000 5242 · NAR Mid-Year Meeting 6,670 6,276 5,841 9,651 5,000 10,000 5243 · NAR Leadership Summit 195 (472) 2,383 1,000 1,000

Total 5240 · NAR Meetings and Events 12,295 14,556 18,159 10,391 13,500 21,000

5250 · CEO Travel & Meetings 8,985 13,701 19,224 13,049 17,500 17,500 Total 5200 · Meetings, Events, Benefits & S 102,871 130,296 133,956 81,011 97,400 142,900

5300 · Professional Fees5301 · Accounting 13,050 15,200 15,100 5,590 7,500 5,000 5302 · Legal 10,344 6,330 2,930 5,088 5,000 5,000 5303 · Technology 21,825 18,000 13,858 5,600 10,000 10,000 5310 · Consultants 43,085 4,270

Total 5300 · Professional Fees 88,304 43,800 31,887 16,278 22,500 20,000

5400 · Office & Business Expenses5401 · Supplies & Expenses 11,386 6,764 5,974 3,112 5,000 5,000 5402 · Printing and Stationary 3,500 5,731 2,702 592 3,000 2,500 5403 · Postage and Delivery 5,196 1,994 627 267 775 775 5404 · Telephone and Telecommunicatio 7,800 8,406 9,279 5,051 8,500 8,500 5405 · Cable,Internet,Website Access 4,009 9,512 6,130 4,108 6,500 7,500 5406 · Software & Systems Maintainanc 5,696 8,112 15,405 9,009 15,000 15,000 5407 · Gifts, Flowers & Plaques 1,348 1,222 416 315 500 500 5408 · Dues and Subscriptions 1,433 804 2,217 420 500 500 5409 · Leased Equipment & Supplies 11,896 12,305 11,013 5,782 12,000 12,000 5410 · Publications and Brochures 881 3,007 695 1,000 500 5411 · Staff Education and Training 333 50 374 1,000 5400 · Office & Business Expenses - Other 1,117

Total 5400 · Office & Business Expenses 53,478 59,024 54,457 29,030 52,775 53,775

5500 · Building and Maintenance5501 · Rent 63,648 63,648 63,689 37,489 64,000 80,000 5502 · Office Cleaning and Repair 6,776 7,939 5,470 3,181 4,500 6,000 5503 · Security 2,070 1,807 2,046 1,279 1,500 1,500 5504 · Utilities 8,264 8,556 7,812 3,580 7,500 9,000 5505 Misc Building Expense 20 25,000 5506 Moving Expense 6,000

Total 5500 · Building and Maintenance 80,778 81,950 79,018 45,529 77,500 127,500

5600 · Contributions and Donations5604 · RPAC Contributions 1,926 1,500 1,500 1,500 1,500 5601 · Scholarships 5,000 5,000 5,000 5602 · Charitable Donations 4,284 500 2,000 500 5603 · NJAR Education Foundations 2,100 1,500 1,000 1,000 1,000 1,000

Total 5600 · Contributions and Donations 11,384 8,926 9,500 2,500 2,500 3,000

5700 · Financial Services Fees5701 · Bank Fees 991 1,682 2,551 1,409 2,000 2,000 5702 · Credit Card Fees 4,857 7,380 6,799 5,383 7,500 7,000 5700 · Financial Services Fees - Other - 15

Total 5700 · Financial Services Fees 5,848 9,062 9,366 6,792 9,500 9,000

5800 · Taxes and Insurance5801 · NJ Corp Fee 25 25 25 5802 · Insurance 1,925 4,348 4,428 3,348 4,000 4,000 5804 · Real Estate Tax 1,231 1,095 395 1,000 500

Total 5800 · Taxes and Insurance 3,181 5,443 4,823 3,348 5,025 4,525

5900 · Miscellaneous Expenses -731 1 6000 · Depreciation Expenses 20,910 17,627 15,195 9,100 18,000 18,000 66900 · Reconciliation Discrepancies 0

Total Expense 612,636 643,436 635,680 368,085 585,750 675,750

Net Income 174,687 (116,827) (34,700) 21,398 - -

*Revenue is based on the following projections:Renewing Members: 2650 X $175 = 463,750Non-Members: 100 X $210 = 21,000Affiliate Members: 25 x $250 = 6250New Members: 150 X $95(ave.) = 14,250Application Fees: 27,750

The past year has been a time of great innovation and accomplishment for the Eastern Bergen County Board of REALTORS and its members. Through markets good and bad, EBCBOR has remained steadfast in its commitment to meet the challenges and opportunities encountered by its members in this ever-changing industry.

Bridge to Success: Professional Development

When the NJREC passed continuing education (CE) requirements for all real estate licensees, EBCBOR took action. We created a plan that quickly positioned EBCBOR as a major provider of Continuing Education in Bergen County. EBCBOR held its first CE course in February 2012. During the summer, the “Back to Basics” CE Bootcamp supplied a variety of core and elective topics during double sessions, successfully educating over 600 members between June and July. To date thousands of our members have earned CE credits. EBCBOR continues to provide CE classes by nationally ranked instructors at corporate meeting facilities as well as a full curriculum of online courses to render a first in class educational experience.

The EBCBOR professional no longer has a “business as usually” mindset. In response, EBCBOR hosts workshops and seminars on current industry topics through “Lunch & Learn” programs and “Business After Hours” networking

events. We continue to offer advanced educational opportunities to earn coveted NAR designations to further enhance REALTOR professionalism in Bergen County.

Communicating Connections

EBCBOR has implemented a communications strategy involving a complementary three-way system of virtual tools: e-mail, social networks, and website. The EBCBOR Weekly eBulletin was redesigned, allowing members to quickly identify their area of interest in this one-stop-shop format with five key sections: Events, Professional Development, REALTOR Information, TECH Tips, Global Perspectives & Association Announcements.

EBCBOR is where its members are. Through increased member engagement, REALTORS can use Twitter, Facebook or LinkedIn to reach EBCBOR and inquire about programs, services or opportunities.

We continue to create videos for the EBCBOR YouTube Channel. Our RPAC video was featured on the RealtorActionCenter.com website in promotion of the first Rally for the American Dream in Washington D.C.

On April 1, 2012 EBCBOR launched the REAL Connection, Real Talk Blog. In just a few months, the EBCBOR blog has become a member and consumer real estate information resource. EBCBOR also redesigned the

“Consumer Resources” tab on bergenboard.com. Now consumers can read relevant articles, watch quick-tip videos, find Bergen County REALTORS, access the answer to basic transaction questions and learn more about Bergen County efficiently.

Throughout 2012, media outlets relied upon EBCBOR and its members as expert sources on local real estate. Each month readers of The Record, The Star Ledger, local community newspapers, New Jersey REALTOR and RIS Media e-newsletter and RIS Media Real Estate magazine could encounter and learn more about EBCBOR through press releases and feature articles. This publicity continues to promote and communicate the value of Bergen County REALTORS. Connecting Needs With Services A commitment to the accuracy of our member records has given EBCBOR the ability to continuously act as the connection between members, their industry, their association and their community. Through advancements in the uses of member data, we can target our members for the opportunities, programs or services that would benefit each of them to their greatest advantage. In 2013, we will be adding a “Foreign Language Directory” to our website. Crossing the Generation Gap

EBCBOR continues to connect REALTORS in all age demographics. This year, the Bergen County YPN celebrated its second anniversary. Industry leaders joined local REALTORS® in honoring the achievements of the YPN. This year the YPN held successful TECH-based afterhours networking events, including Appy- Hour, Tweet & Greet and To Blog or Not to Blog assisting REALTORS at all levels with their use and understanding of modern technologies for real estate business. Cynthia Abbott of Friedberg Properties was honored as the first ARookie Salesperson of the Year. This new member accolade in addition to the current REALTOR of the Year Award and NJAR QuCentury Club creates an atmosphere that the celebrates REALTOR success throughout the varied stages of a member’s career.

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The Gateway to Global

In 2011, EBCBOR created a global business plan. This year, EBCBOR launched the Global Business Council. Through this initiative, we met all of the stage one and two global business plan objectives. EBCBOR integrated a “Global Perspectives” section to the Weekly eBulletin and a Global category to the blog. Social media updates are periodically posted related to global real estate business. The EBCBOR Global Business Council has successfully held two luncheons this year, and plans to continue to host these international events each quarter to meet the growing need expressed by members who identify “global” as the new “local”. The Annual Picnic highlights the diversity and ingathering of cultures, which is the backbone of EBCBOR.

Community Outreach At EBCBOR, REALTORS do more than sell houses! Annually the EBCBOR Board of Directors, with funding from the NJMLS approves monetary donations for selected Bergen County charitable organizations well as scholarships for each of 17 high schools in EBCBOR’S jurisdiction.

Through the efforts of the Community Service Committee, EBCBOR has been active in collecting donations and assisting many non-profit organizations in Bergen County. In July 2012, EBCBOR joined with the Bergen Family Promise to host the first Annual Dinner with REALTORS,

benefitting homeless or financially struggling residents in Bergen County.

VISION To be an Association of excellence that provides true value and

service to all its members by anticipating and meeting the opportunities and challenges of our industry; to be the board of

choice and the gateway to information, education and technology.