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Our Mission The Eastern Bergen County Board of REALTORS速 is committed to developing and delivering programs, services and products that enhance the professional, ethical and profitable performance of the membership while serving the public as a leading advocate of private property rights.

2011 Annual Meeting September 22, 2011


EBCBOR 2011 Leadership Team

Eileen O'Driscoll President Term: 2010 - 2012

Robin Malley President Elect Term: 2009 - 2011

Diane Thurber-Wamsley First Vice President Term: 2010 - 2012

Geoffrey Gilchrist Treasurer Term: 2011 – 2013

Robert Oppenheimer Immediate Past President

Maritza Aleman Director Term: 2011 - 2013

Annekee Brahver-Keely Director Term: 2011 - 2013

Allegra House Director Term: 2011 – 2013

Debra Jacobs Director Term: 2010 – 2012

Timothy King Director Term: 2009 - 2011

Marilyn Lambert Director Term: 2011 - 2013

Steve Leeman Director Term: 2011

Bowen Pak Director Term: 2010 - 2011

Jay Shapiro Director Term: 2009 - 2011

Shirley Sosland Director Term: 2009 - 2011

Eleanor Stern Director Term: 2010 – 2012

2011 Committee Chairs/Vice Chairs Awards and Verification Selection Richard Katze, Chair Emo Weisman, Vice Chair

Equal Opportunity/Cultural Diversity, Romeo Abenoja, Chair Miriam Lambert, Vice Chair

Professional Standards Terri Golden, Chair Jack McAlear, Vice Chair

Communications Miriam Serrano, Chair Hannah McLaughlin, Vice Chair

Grievance Tom Bomeisl, Chair Linda Pront, Vice Chair

REALTORS® Political Action Committee - RPAC Rose LaPira, Chair

Community Service Susan Fields, Chair Laura Fisherman, Vice Chair

Legislative Affairs Randy Lyn Ketive, Chair

Risk Management Mimi Weisinger, Chair Marie Cordner, Vice Chair

Professional Development Michael Kornweiser, Chair Elaine Mosera, Vice Chair

Young Professionals Network Michael Oppler, Chair Joshua Baris, Vice Chair

Staff Laura Rubinfeld,CIPS, RCE, Chief Executive Officer

Jim Kelly, Communications Coordinator Dana Roberts, Office Administrator Niki Zentelis, Membership Coordinator


Eastern Bergen County Board of REALTORS® A Message from the President Home may mean something different to different people. It’s a rental apartment, a 3 bedroom Cape Cod on a 50x100 lot with just enough room for a play set in the back yard, a mansion on the hill with a bathroom to every bedroom or a city condo in a high rise building. Whatever it is, Bergen County has it and there is no better time to buy real estate than right now. Now, you and I know, that getting the job done is a whole other story, wouldn't you say? We've got our very long short sales, our properties in limbo, the threat of interference with the mortgage interest deduction, the national flood insurance program and the QRM with the proposed 20% down payment requirement. It's challenging for sure, its character building and it is exciting. When you complete the short sale process and the distressed home is now in the hands of a young couple, a growing family or an investor with a new project to work on, it is satisfying. That's a privilege of being a REALTOR®. You made it through and you are here because you were diligent, you educated yourself, you stayed abreast of this changing market and you are a member of Eastern Bergen County Board of REALTORS®. The 7% decrease in membership speaks to this. You participated in our last strategic plan and your leadership teams and committees delivered. Your dues dollars spoke back to you and answered your questions. But we won't stop there, there is much work ahead and always will be in our ever changing market. As your President this year, I ask you to stay involved. Please fill out the surveys, tell us what you need to grow your business. Brokers, come to our broker forums for the tools to keep your office strong. Answer the calls to action. Be the REALTOR® that can face your client and say "I'm working on that for you". What a terrific way to strengthen the REALTOR® name. Come to our education sessions and be informed. I applaud all of you for being here today for some brain food that Barry will be serving up shortly.

Keep up the good work.

2011 President


Agenda 2011 Annual Meeting 1. CALL TO ORDER - Eileen O’Driscoll, 2011 President 2. PLEDGE OF ALLEGIANCE & INVOCATION – Eleanor Stern, CRS 3. VERIFICATION OF QUORUM - Laura Rubinfeld, CEO, CIPS, RCE 4. PRESIDENT’S REPORT - Eileen O’Driscoll, 2011 President 5. Recognition of EBCBOR’s 2011 REALTOR® of the Year – Robert Oppenheimer, CRS, ABR, CDPE, 2010 REALTOR® of the Year

6. ANNUAL BUSINESS: 

Approval of Minutes Motion to Approve Minutes of Sept. 16, 2010 meeting

Report from the Treasurer – Geoffrey Gilchrist, 2011 Treasurer Motion to approve the 2012 Proposed Budget

Report from Committees – Diane Thurber-Wamsley, 2011 First Vice President o Nominating – Laureen Campbell, Chair Motion to approve the following candidates as Directors: Bruce Elichman (3yrs) Gerald Kotch, ABR, (3yrs) Steve Leeman (3yrs) Robin Malley, GRI (3yrs) Bowen Pak (3yrs) Jorge Ledesma (1yr) o Award Selection – Richard Katze, Chair o Communications – Miriam Serrano, Chair o Community Service – Susan Fields, Chair o Equal Opportunity / Cultural Diversity – Romeo Abenoja, GRI, Chair o Grievance – Tom Bomeisl, Chair o Legislative – Randy Lyn Ketive, Chair o Professional Development – Michael Kornweiser, Chair o Professional Standards – Terri Golden, ABR, Chair o Risk Management – Mimi Weisinger, ABR,CRB,CRS,GRI, Chair o RPAC – Rose LaPira, CRB,CRS,GRI, Chair o YPN – Michael Oppler, Chair

7. OTHER BUSINESS: To transact other such business as may properly come before the meeting. 8. KEY NOTE SPEAKER

Barry Goodman, Esq. "Navigating the Legal Minefield in a Challenging Real Estate Market"

9. ADJOURNMENT


MINUTES OF THE ANNUAL BUSINESS MEETING OF THE EASTERN BERGEN COUNTY BOARD OF REALTORS® SEPTEMBER 16, 2010 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 16, 2010. The meeting was chaired by 2010 President, Robert Oppenheimer and called to order at 9:40AM. Steve Leeman, 2009 EBCBOR REALTOR of the Year and 2010 Treasurer delivered the Invocation and led in the Flag Salute. Leeman also announced that this year’s recipient of the REALTOR of the Year award is 2010 EBCBOR President, Robert Oppenheimer. Laura Rubinfeld, CEO verified that a quorum was present. Upon a motion duly made, seconded and carried the minutes of the previous annual business meeting, held on September 17, 2009 as submitted by the 2009 Secretary, Steve Leeman were approved. Upon a motion duly made, seconded and carried, the following candidates for the 2011 Board of Directors for a three year term beginning January 1, 2011 and expiring December 31, 2013 as presented by Laureen Campbell, Chair of the 2010 Nominating Committee were elected: Maritza Aleman Annekee Bravher-Keely Geoffrey Gilchrist Allegra House Marilyn Lambert Upon a motion duly made, seconded and carried, the 2011 Budget as presented by Steve Leeman, 2010 Treasurer was adopted. Upon a motion duly made, seconded and carried the revised Bylaws as presented by Eileen O’Driscoll, 2010 Vice President were adopted. There being no further business, upon a motion duly made, seconded and unanimously carried, the business meeting was adjourned at 10:40 AM. Respectfully Submitted, Robin Malley, Secretary


Date:

July 12, 2011

To:

EBCBOR Members

From:

2011 Nominating Committee Laureen Campbell, Chairperson Members: Shirley Sosland (Director), Tim King (Director), Jose Castillo, Judy Kao, Matt Terrace, Martin Huguley, Hannah McLaughlin, Travis Waller, Miriam Serrano (alternate)

Re: Report from the 2011 Nominating Committee After interviewing the candidates, verifying their qualifications and careful deliberation the Nominating Committee unanimously recommends the following candidates for a three year terms beginning January 1, 2012 and expiring December 31, 2014: Steven Leeman Bowen Pak Robin Malley Gerald Kotch Bruce Elichman and, unanimously recommends the following candidate for a one year term beginning January 1, 2012 and expiring December 31, 2012: Jorge Ledesma In accordance with the Bylaws of the Eastern Bergen County Board of REALTORS, Inc. additional candidates for the positions to be filled may be placed in nomination by a petition signed by at least 10 percent of the REALTOR 速membership eligible to vote. The petition shall be filed with the Chief Executive Officer, prior to September 1, 2011. The Chief Executive Officer shall send notice of such additional nominations, if any, to all REALTOR速 members eligible to vote not less than one week prior to the annual election to be held on Thursday, September 22, 2011 at the Clinton Inn, Tenafly, New Jersey


Thank You To the 1325+ EBCBOR Members who have contributed

$49,188 To the 2011 RPAC Campaign Special Thanks to our Major Donors

Capital Club

Annekee Brahver-Keely Nancy Bunin Nelson Chen Eastern Bergen County Board of REALTORS速 Randy Lyn Ketive Rose LaPira Charles Oppler Michael Oppler Bowen Pak

Debra Jacobs Judy Kao Richard Katze Robin Malley Robert Oppenheimer Laura Rubinfeld Lydia Russo Robert Russo Joanne Vossler

Presidents Club Mary Lenk Marc Stein Sun An


EASTERN BERGEN COUNTY BOARD OF REALTORS, INC. 2012 Proposed Budget September 1, 2011 Jan-Dec10 Actual

Income 4000 · Revenue 4101 · Membership Dues 4102 · Application Fees 4103 · Late Fees 4104 · Reinstatement Fees 4301 · Pro Standards Admin Fees 4302 · Fines 4400 · Educational Seminars 4500 · Sponsorships 4800 · Interest Income 4900 · Miscellaneous Income 4901 · Sales Board Store 4900 · Misc Income Total 4000 · Revenue 6100 Cost of Goods Sold Total Income

Jan-Jun11 Jan-Jun 2011 Actual Budget

2011Annual 2012 Budget Budget (Proposed)

_______________________________________________

____________________________________________

____________________________________________

438,571 31,678 7,890 2,950 2,000 7,000 12,256 12,563 11,104

250,332 20,360 6,275 6,680 500

248,500 25,050

11,249 18,004 2,035

7,500 12,500 7,500

15,000 25,000 15,000

$15,000 $25,000 $5,000

391 676

543 250

1,250 10,000

2,500 20,000

$2,000 $1,000

527,079 -471 526,608

316,227

301,050

624,600

$585,750

_________________________________

_________________________________

_________________________________

_________________________________

_________________________________

_________________________________ _________________________________

_________________________________ _________________________________

_________________________________ _________________________________

_________________________________ _________________________________

624,600

$585,750

245,568 17,983 336 5,664 11,355

127,179 9,499 168 3,124 4,933

130,875 9,000 125 2,125 6,250

261,750 18,000 250 4,250 12,500

$264,000 $19,000 $350 $5,700 $11,500

_______________________________________________

6,400 287,306

_______________________________________________

0 144,904

_________________________________

0 148,375

_________________________________

0 296,750

$300,550

6,097 707 6,116 5,226 31,049 15,329

0 3,697 3,763 905 21,410 500 3,037 33,313

500 6,250 2,000 12,500

5,000 1,000 12,500 4,000 25,000 8,000

_________________________________

_________________________________

21,250

55,500

$4,000 $4,000 (e)$16,700 $2,000 $15,000 $7,500 $2,500 $51,700

3,000 5,000 1,250 3,500 12,750

6,000 10,000 2,500 7,000 25,500

$0 $3,000 $0 $2,500 $5,500

316,227

301,050

____________________________________________

____________________________________________

497,000 a) $482,750 50,100 b) $32,500 c) $10,000 d) $12,500

_________________________________ _________________________________

Expense 5102 · Wages 5103 · FICA 5104 · FUTA 5105 · SUI/DBL 5113 · Health Insurance 5100 · Payroll and Employment Expense - Other Total 5100 · Payroll and Employment Expense 5200 · Meetings, Events & Services 5210 · Local Meetings and Events 5211 · Annual Membership Meeting 5212 · New Member Orientation 5213 · Board of Director Expenses 5214 · Committee Expenses 5215 · Educational Seminars 5216 · Installation and Holiday Party 5210 · Local Meetings and Events – Other Local Meetings and Events 5220 · Member Services & Benefits 5221 · Technology Hot Line 5222 · Public Relations 5223 · Member Services & Benefits 5224 · Professional Standards Member Services & Benefits 5230 · NJAR Meetings and Events 5231 · NJAR Conv / TriplePlay 5232 · NJAR Board of Director Meetings 5233 · NJAR Member Events NJAR Meetings and Events 5240 · NAR Meetings and Events 5241 · NAR Annual Convention 5242 · NAR Mid-Year Meeting 5243 · NAR Leadership Summit NAR Meetings and Events 5250 · CEO Travel & Meetings 5200 · Meetings, Events & Services - Other Total 5200 · Meetings, Events & Services

_______________________________________________

64,524 4,986 9,021

_______________________________________________

3,007 4,965 0 80 8,052

_________________________________

_________________________________

_______________________________________________

6,388 20,395

_______________________________________________

_________________________________

_________________________________

_________________________________

10,934 1,352 4,835 17,121

398 650 5,667 6,715

640 4,000 4,640

8,000 1,000 4,000 13,000

$6,000 $1,200 $2,000 $9,200

_______________________________________________

_______________________________________________

8,752 6,275 -472 14,555

2,690 5,841 400 8,932

_______________________________________________

13,701 _______________________________________________

130,296

_______________________________________________

11,631 29 68,671

_______________________________________________

_________________________________

_________________________________

_________________________________

_________________________________

_________________________________

12,500

14,000 12,500 1,000 27,500

$7,500 $5,000 $1,000 $13,500

8,750

17,500

$17,500

_________________________________

_________________________________

_________________________________

59,890

139,000

$97,400

12,500 _________________________________


Jan-Dec10 Actual

5300 · Professional Fees 5301 · Accounting 5302 · Legal 5303 · Technology 5310 · Consultants Total 5300 · Professional Fees 5400 · Office & Business Expenses 5401 · Supplies & Expenses 5402 · Printing and Stationary 5403 · Postage and Delivery 5404 · Telephone and Telecommunication 5405 · Cable, Internet, Website Access 5406 · Software & Systems Maintenance 5407 · Gifts, Flowers & Plaques 5408 · Dues and Subscriptions 5409 · Leased Equipment & Supplies 5410 · Publications and Brochures 5411 · Staff Education and Training 5400 · Office & Business Expenses - Other Total 5400 · Office & Business Expenses 5500 · Building and Maintenance 5501 · Rent 5502 · Office Cleaning and Repair 5503 · Security 5504 · Utilities Total 5500 · Building and Maintenance 5600 · Contributions and Donations 5604 · RPAC Contributions 5601 · Scholarships 5602 · Charitable Donations 5603 · NJAR Education Foundations 5600 · Contributions and Donations - Other Total 5600 · Contributions and Donations 5700 · Financial Services Fees 5701 · Bank Fees 5702 · Credit Card Fees 5700 · Financial Services Fees - Other Total 5700 · Financial Services Fees 5800 · Taxes and Insurance 5801 · NJ Corp Fee 5802 · Insurance 5804 · Real Estate Tax Total 5800 · Taxes and Insurance 6000 · Depreciation Expenses Total Expenses Net Income

a) Renewing Members 2800 X $155=$434,000 Non Members 175X$190=$33,250 New Members 200 X $77.50= $15,500 b) New Members 200X$155= $31,000 New Offices 5X$300= $1500 c) Late Fee 200X$50=$10,000

Jan-Jun11 Jan-Jun 2011 Actual Budget

_______________________________________________

____________________________________________

____________________________________________

15,200 6,330 18,000 4,270 43,800

11,800 2,250 9,058

_______________________________________________

6,764 5,731 1,994 8,406 9,512 8,112 1,222 804 12,305 3,006 50 1,117 59,023

_______________________________________________

63,648 7,939 1,807 8,556 81,950

2011Annual 2012 Budget Budget (Proposed) ____________________________________________

____________________________________________

6,250 2,500 10,000

12,500 5,000 20,000

$7,500 $5,000 $10,000

_______________________________________________

_________________________________

_________________________________

_________________________________

23,108

18,750

37,500

$22,500

4,079 2,702 250 4,536 3,101 7,628 48 370 5,211 695

2,500 2,500 1,000 4,000 3,000 7,500 500 500 6,000 1,500

5,000 5,000 2,000 8,000 6,000 15,000 1,000 1,000 12,000 3,000

$5,000 $3,000 $775 $8,500 $6,500 $15,000 $500 $500 $12,000 $1,000

_______________________________________________

_________________________________

_________________________________

_________________________________

28,620

29,000

58,000

$52,775

31,865 3,058 1,071 3,253 39,247

32,000 3,500 750 4,000 40,250

64,000 7,000 1,500 8,000 80,500

$64,000 $4,500 $1,500 $7,500 $77,500

_______________________________________________

_______________________________________________

_________________________________

_________________________________

1,926 5,000 500 1,500

1,500 5,000 0 1,000 0 7,500

5,000 500 1,000 1,500 8,000

5,000 1,000 1,000 1,500 8,500

_______________________________________________

8,926 1,682 7,380

_______________________________________________

9,062

1,184 2,994 15 4,194

4,348 1,095 5,443

0 4,515 0 4,515

_______________________________________________

_______________________________________________

_________________________________

_________________________________

_________________________________

$1,500 $0 $0 $1,000 _________________________________

$2,500

500 362

1,000 725

$2,000 $7,500

_________________________________

_________________________________

_________________________________

863

1,725

$9,500

25 1,000 600 1,625

25 2,000 600 2,625

$25 $4,000 $1,000 $5,025

_______________________________________________

_______________________________________________

_________________________________

_________________________________

_________________________________

17,629 625,806

_______________________________________________

8,718 320,758

_________________________________

_________________________________

306,753

624,600

$18,000 $585,475

_______________________________________________

_______________________________________________

_________________________________

_________________________________

_________________________________

($116,828)

($13,250)

_______________________________________________

_______________________________________________ _______________________________________________

_______________________________________________ _______________________________________________

_________________________________ _________________________________

$0

_________________________________ _________________________________

_________________________________

$0

_________________________________ _________________________________

d) Reinstatement Fee 125X$100=$12,500 e) Director Allotment for Education & Meetings = $10,000 Leadership Training & Strat Planning = $5500 Meeting Expenses = $1200


The Year in Review Meeting the Goals of the Strategic Plan The strategic plan that was adopted by the 2009 Board of Directors set the road map for EBCBOR to become a member-centric Association and increase its value to the membership. The plan outlined priorities and initiatives to achieve these goals. The implications were sweeping and long range, and have impacted all levels of service and communications. The guiding principle has been to seek out and respond to members’ assessments and feedback. Every service, event and product is evaluated from the members’ perspective and measured against the changing needs and issues affecting the market and the industry. The bar is high and what our members value most continues to be the upmost priority. Throughout the year, we ask the members to benchmark our strengths and identify areas where improvements could be made to enhance the Association’s value. Events are routinely assessed through electronic surveys sent to all attendees. The results are used to improve and enhance the Association’s programs and outreach. The Bergen County Young Professionals Network (YPN), celebrated its one year anniversary. The focus on reaching out to the new generation of EBCBOR members through networking and educational events is a proven success. Making connections and introducing YPNer’s to the valuable resources of the Association not only helps them to become more productive, but ensures their commitment to the Association. Eastern Bergen County Board of REALTORS® recognizes the importance of networking and developing solid relationships with those who share our goals and support the real estate industry. As a benefit to our members, we have developed our Affiliate Partnership Program to offer companies the opportunity to align themselves with EBCBOR and our 3000 members and their clients. This program allows Affiliate members to put their message on our content rich website and in our weekly eBulletin. To date we have twenty seven participants and new affiliates are joining monthly. Our weekly eBulletin, launched last fall, brings to the membership industry news, business tips and a calendar of events. Through this effective communications tool, every member is kept abreast of relevant and essential information needed to stay current and competitive in our dynamic and changing marketplace.


The EBCBOR Mall brings all things REALTOR® within reach of every member. With the In-House Store, Online Store, Custom Collection and links to our Vendor Partners, members can easily and affordably get the products they need to promote themselves and the REALTOR® brand. Press releases showcasing our community involvement and ads promoting our commitment to home ownership appear regularly in local newspapers such as the TwinBoro, the Suburbanite, North Jersey.com, Patch.com and the Bergen Record. Our website, www.bergenboard.com is the go to site for real estate news and information. With robust content, compelling graphics, videos, aggregated links and RSS feeds, it is a priceless resource for both our members and the consumer. The Ambassador Program continues to be a priority for the Board of Directors. The commitment to this initiative is keeping our Designated REALTORS® updated on EBCBOR events and the issues affecting the industry. The result is raising the awareness of the value of participation in the Association’s activities and the many services offered on all three levels of membership; national, state and local. In 2010 we welcomed 217 new and transferring REALTORS® into the Association. EBCBOR hosted or sponsored over forty events, held seventy committee meetings and participated in excess of 20 state and national events. EBCBOR distributed $20,750 in NJMLS Community Service Funds to Bergen County charities and in partnership with the NJMLS awarded $16,000 in scholarships to graduating seniors from the High Schools in our jurisdiction. Through the NJAR Local RPAC “PAC Share” program EBCBOR contributed $4000 to “REALTOR®” friendly candidates in November’s local elections. Building on the success and achievements of the past year, EBCBOR is prepared to face the challenges and opportunities that lie ahead…locating new office and classroom facilities; developing an engaging education curriculum that helps every member meet the NJ REC requirement for Continuing Education in 2013; establishing a Local International Council to facilitate access to the global real estate market; and, most importantly, providing the tools and resources to enable our members to prosper in these difficult times. The expertise and experience of every member is needed to address these challenges and opportunities. Now is the time to step up and support your fellow REALTORS®, your Association and your profession. Get involved, answer the “Calls to Action” remember “Home Ownership Matters”.



2011 Annual Report