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Untitled - Centris.ca
Greater Montréal Real Estate Board | 2013 Annual Report
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OUR MISSION
To actively promote and protect our
members’ professional and business
interests in order for them to successfully
meet their business objectives.
BOARD OF DIRECTORS
2
WHO ARE WE?
A not-for-profit association, the Greater Montréal Real
Estate Board was created in 1954 and represents
almost all real estate brokers in the Montréal Metropolitan Area. The GMREB provides training through
the Collège de l’immobilier du Québec, as well as
technology services through Centris®. It is a member
of the Québec Federation of Real Estate Boards and
The Canadian Real Estate Association, an organization
that represents all Canadian boards. The GMREB
is the third largest board in Canada and one of the
20 largest boards in North America.
Greater Montréal Real Estate Board | 2013 Annual Report
3
MESSAGE FROM THE PRESIDENT
In 2013, our main focus was defending the interests of Greater Montréal
Real Estate Board (GMREB) members. Like you, I am also an active broker.
I deal with the same realities as all of my colleagues and I am well aware
of the challenges our industry faces. However, I am also very proud of
the progress made in 2013, as evidenced in this overview of our main
achievements.
Patrick Juanéda
FACING THE FUTURE
To follow up on the priorities identified at the 2012 Real Estate
Summit, the GMREB took concrete actions to identify real
estate brokers’ distinct advantages. This involved taking the
lead in creating a multidisciplinary task force that included a
group of active real estate brokers and Mr. Jacques Nantel,
marketing professor at HEC Montréal, in order to examine
this issue more closely. The work of this group was supported
by an in-depth study by Léger Marketing, conducted among
hundreds of consumers, which allowed us to identify the four
main elements that are likely to convince consumers to use the
services of a real estate broker:
•buy or sell at a fair price;
•command of the legal forms and documents;
•increased visibility and traffic;
•framework for the real estate broker profession,
for better protection.
These four distinct advantages, or unique selling propositions,
were presented in September as part of the Event of the
Season, which was attended by more than 900 brokers. These
four advantages were also part of an awareness campaign
among consumers, which will continue in 2014.
SHARING OUR STRATEGIC DIRECTIONS
In September, the Board of Directors’ main strategic directions
were presented to members. Mr. Claude Béland, former
president of Mouvement Desjardins, accompanied the Board of
Directors in this important exercise. These strategic directions
show that the status quo is not an option, and that our industry
and our organizations must review their practices.
Five main strategic directions were proposed to members:
•promote the value of real estate brokers;
•protect members’ interests;
•increase brokers’ expertise;
•anticipate market changes and take the lead
in finding new methods in real estate;
•highlight and increase brokers’ professionalism.
The task force responsible for examining and updating the
GMREB’s by-laws and practices continued its activities to
ensure first-rate governance practices for the organization.
Mr. Michel Nadeau, Executive Director of the Institute for
Governance of Private and Public Organizations (IGOPP),
acted as advisor to this group. Among the accomplishments
in 2013 were the creation of a permanent committee on
governance, the creation of a treasurer position, the review of
the appointment process for officers and the implementation
of various task forces in order to improve participation among
directors and members. In the same spirit of maintaining the
highest standards of governance, the GMREB continued the
work it began last year by offering directors training by the
IGOPP. A comprehensive review of the GMREB’s by-laws is
planned for 2014.
The GMREB provides technology tools to all real estate boards
in Québec through its technology division, Centris®. During the
year, the Board held discussions with the Chambre immobilière
de Québec, which also provides a technology tool to certain
boards, regarding a possible partnership in order to combine
all tools under a single entity.
›
Greater Montréal Real Estate Board | 2013 Annual Report
4
MESSAGE FROM THE PRESIDENT (CONTINUED)
DEFENDING OUR MEMBERS’ INTERESTS
One of the most important developments in 2013 was the
dossier between the GMREB and The Canadian Real Estate
Association (CREA). Several issues requiring us to defend
our members’ interests led us to question our membership
in CREA. Among these issues were the regular increases in
CREA dues, the imposition of tools that we barely used, the
obligation to participate in a national data distribution system
and the imposition of a second code of ethics. Following
negotiations and two consultations with brokers, the GMREB
obtained significant gains for its members, including the
assurance that FSBO listings from Québec will no longer be
displayed on REALTOR.ca as well as a reduction in dues since
Québec brokers do not use the WEBForms® electronic forms
tool. In addition, a protocol was agreed upon to address, in
the short term, the issues surrounding data distribution and
CREA’s REALTOR® Code (code of ethics). This agreement was
endorsed by 86% of members.
In addition, the GMREB intervened with the Organisme
d’autoréglementation du courtage immobilier du Québec
(OACIQ) to defend members’ interests regarding the issue
of mandatory training announced by the OACIQ. The GMREB
Board of Directors challenged the OACIQ regarding the cost
of this training and the timeframe for taking the training.
Following these interventions, the OACIQ made some changes.
The timeframe for taking the mandatory training was extended,
suspensions for not taking the training were lifted until May
2014, and it is no longer mandatory for chartered real estate
brokers to take the agency executive officer training if they
do not want to become agency executive officers. Finally,
the OACIQ expressed its willingness to consult with industry
representatives before finalizing brokers’ future continuing
education obligations.
Also in 2013, the GMREB intensified its reflections on the
current role of the Québec Federation of Real Estate Boards.
It is essential for us that real estate associations reach their
objectives in an efficient manner and at a reasonable cost.
We will continue to closely monitor this dossier in 2014.
The GMREB continued its public relations efforts by being
proactive in several dossiers, by giving many interviews and
by being cited regularly in the media. As part of our monitoring
of media coverage, we published two open letters in La Presse
in response to misconceptions about the work of real estate
brokers and the real estate brokerage model in Québec. We
also published various communiqués that defended our
members’ interests in different dossiers, such as access to
homeownership.
The Board also undertook lobbying activities among the
different levels of government in order to raise awareness of
real estate brokers’ concerns, particularly with respect to the
tightening of mortgage rules and access to homeownership.
As such, the GMREB developed relationships with government
and municipal authorities and intends to continue building on
these relationships in 2014.
REBALANCING OF THE REAL ESTATE MARKET
The real estate market became balanced in 2013 while, in the past, it
favoured sellers. A total of 36,522 residential sales were concluded in the
Montréal Census Metropolitan Area in 2013, a 9% decrease compared
to 2012. This drop in sales was mainly due to the stricter mortgage rules
that came into force in July 2012, and whose effects continued to be felt
in 2013.
While many observers predicted a significant drop in prices, property
values held steady in the Montréal Metropolitan Area, proving that
real estate is still a good investment. Across the Greater Montréal
area in 2013, property prices increased by 2% for single-family homes
and plexes, while the median price of condominiums remained stable
compared to 2012.
›
Greater Montréal Real Estate Board | 2013 Annual Report
5
MESSAGE FROM THE PRESIDENT (CONTINUED)
ADVERTISING CAMPAIGN
A generous budget was devoted to our multimedia ad
campaign that had two main objectives: to highlight real
estate brokers’ expertise (primarily by promoting some of
their distinct advantages) and to increase awareness of the
Centris.ca website. Wanting to meet the needs of our anglophone members, TV ads in English were broadcast for the first
time. As confirmation that our advertising efforts are paying
off, the profession of real estate broker has risen in Léger
Marketing’s annual Profession Barometer ranking and traffic
on the Centris.ca website more than doubled compared to
the previous year. Finally, as part of an exemplary and historic
collaboration, the GMREB worked actively with Québec’s
11 other real estate boards, the QFREB and the OACIQ on the
creation of a joint provincial ad campaign that was launched
in early 2014.
The year 2013 thus proved to be intense on many fronts, and our
accomplishments would not be possible without the dedication
and hard work of the members of the Board of Directors.
I appreciate all they have done. I must also acknowledge the
contribution of members who take the time to communicate
with the GMREB to propose their ideas and points of view. Their
personal contribution guides us in our decision-making and our
positions. We have worked hard in recent years to become
closer to our members and I am very proud to see the progress
we have made. Finally, I want to thank all the volunteers who
sit on the different committees and groups, and who organize
conferences and networking activities for their colleagues.
Through your efforts, you contribute to enhancing the expertise
and image of real estate brokers.
Patrick Juanéda
President
CENTRIS® RESIDENTIAL STATISTICS
MONTRÉAL METROPOLITAN AREA
Single-Family Median Price
Total Residential Sales
$300,000
50,000
40,000
$250,000
30,000
$200,000
20,000
$150,000
10,000
0
$100,000
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Source : QFREB
Greater Montréal Real Estate Board | 2013 Annual Report
6
ACTIVITY REPORTS
Finance and Administration
The Finance and Administration Department continued to
ensure the effective preparation and monitoring of budgets,
the development, application and control of financial policies,
as well as the development of tools and analyses that help
with decision-making. The Department also oversaw the
processing, monitoring and reporting of financial information
to the Finance and Audit Committee and to members.
In March 2013, the Department implemented an online credit
card payment system that allows members to pay their
balance directly on the GMREB extranet. Furthermore, as part
of its objective to increase efficiency, reduce costs and remain
environmentally responsible, the Department implemented
new initiatives to reduce its use of paper. In the same vein,
paper invoices will be eliminated in 2014.
In its continuing effort to ensure sound management, the
Finance and Administration Department worked to update
and implement new financial policies. Every effort has been
made to effectively manage members’ dues, and processes are
continuously reviewed and improved to increase efficiency.
Member Services
The Member Services Department continued to provide support
to members by answering all of their questions on topics such as
brokerage contracts, the Brokerloading system, and rejections
and irregularities. In June 2013, significant changes were
made to the Brokerloading system, including the mandatory
uploading of the Seller’s Declaration form. These changes
were primarily made to address a need expressed by members
and to facilitate their collaboration work. In September, the
Member Services team added, in the Brokerloading system,
information contained in the mandatory Brokerage Contract
forms, and made changes to certain headings. In addition, to
better meet the needs of brokers working in the IC&I area,
the brokerloading of revenue properties was also revised and
improved. Members now benefit from a display of financial
data that complies with accounting principles and thereby
reflects investors’ financial vision. This is an important first
step and other improvements will follow in 2014.
In terms of training, the Member Services Department
organized 33 presentations in real estate agencies in order
to better support members and answer their questions. In
addition, 34 Mastering Your Centris® Tools training sessions
were held at the GMREB. A total of 984 members participated
in information sessions about InstanetFormsTM and other
Centris® tools in 2013.
The Member Services Department also worked in collaboration with the City of Montréal as part of the Discover
Your Neighbourhood event that was held in March. Close to
700 potential clients visited and discovered nine Montréal
neighbourhoods in the company of 16 real estate brokers.
An overview of 2013 activities show that members
brokerloaded 47,737 notices of sale in the Centris® system,
and the Department identified and handled a total of 7,739
irregularities, approximately the same number as in 2012.
More than 77,000 new listings were brokerloaded, a similar
number to that in 2012. Finally, the Member Services team
answered 15,991 requests for information over the telephone.
›
Greater Montréal Real Estate Board | 2013 Annual Report
7
ACTIVITY REPORTS (CONTINUED)
Groups
The Member Services Department works with the regional
group committees to organize meetings, conferences and social
activities that help to inform brokers and encourage networking
and collaboration. In 2013, 3,500 brokers participated in
23 conferences, 9 cocktail parties and a show organized by the
group committees. On average, each conference was attended
by 96 people and each cocktail party attracted 128 participants.
Among the conferences presented, the fall conference entitled
Sans Courtier… avec des problèmes was extremely popular. In
fact, to meet strong demand, two additional presentations were
quickly added.
Here is an overview of all the conferences that took place
in 2013:
•Environmental tests
Guy Laforest, B.A.A. (January)
•The Competition, My Competitors...
What Should I Say?
Mtre Hélène Morand, Lawyer (April)
•PCBs
Pawel Olejczyk – Geologist
Mtre Catia Larose – Lawyer
Mtre Hélène Morand – Lawyer and OACIQ syndic (October)
•Sans courtier… avec des problèmes
Mtre Stéphane Pagé, Lawyer (November)
• Undivided condominiums
Mtre Ginette Allard, Notary (December)
The IC&I Commercial Group organized six breakfast conferences,
attended by 526 members.
Immophoto2013/Patrice Bériault
All of these organized activities were made possible thanks to
the dedication of the 46 brokers who volunteer in the six groups.
Immophoto2013/Patrice Bériault
›
Greater Montréal Real Estate Board | 2013 Annual Report
8
ACTIVITY REPORTS (CONTINUED)
Communications and Public Relations
In 2013, the Communications Department promoted to
consumers the importance of doing business with a real
estate broker. At the start of the year, the GMREB launched
the largest advertising campaign in its history, focusing on
two complementary components. The first component, which
highlighted real estate brokers’ expertise, included three TV
commercials that showed how it’s impossible to be an expert
at everything and to avoid problems it is important to use the
services of a real estate broker when buying or selling a home.
The second component focused on building awareness of the
Centris.ca website in order to encourage consumers to use a
broker’s services when selling their property. The campaign
also included ads on the radio, on the web and on highway
billboards.
In March, a bilingual ad campaign was aired on eight Montréal
radio stations, inviting the public to visit Centris.ca and
discover the thousands of open houses that were happening
across Québec. The Department also produced a Centris.ca
promotional video that highlights the many features of the site
and serves as a tool that brokers can use with their clients.
Internally, the GMREB’s bi-monthly Vision newsletter was
revised and improved. More appealing and easier to read, it
provides members with a single location for finding information
about all of the activities, conferences and training sessions
that are taking place.
In terms of public relations, the team stepped up its efforts
in 2013 to defend members’ interests. Its interventions in the
media were aimed at highlighting brokers’ professionalism and
their knowledge of the real estate market, and promoting the
value of a real estate transaction that is concluded through
a real estate broker. It is with these objectives in mind that
the team responds to the various media requests it receives
and formulates messages that not only state the GMREB’s
position on issues affecting the real estate market, but also
promote the wealth of our real estate market knowledge and
the professionalism of real estate brokers.
Finally, the Communications Department continued to produce
a variety of informational videos for real estate brokers and the
public. The most watched videos were those on the conference
Sans courtier… avec des problèmes by Mtre Stéphane Pagé,
the CREA dossier, the measures taken by the CMHC to avoid an
overheated real estate market, and the ad campaign. This year,
the Department focused on improving the quality of its videos.
›
Greater Montréal Real Estate Board | 2013 Annual Report
9
ACTIVITY REPORTS (CONTINUED)
Centris®
Centris® tools are a group of technology solutions aimed at
improving real estate brokers’ efficiency and simplifying their
work. All efforts have been put in place to ensure a high level
of reliability for these tools. In 2013, the target objective was
achieved: the rate of service availability reached more than
99.5%, 24 hours a day.
The Centris® team made various improvements to the Centris.ca
website in 2013, including a new and more intuitive
property search as well as improvements to the mapping feature, one of the website’s strengths. The team also worked
on redesigning the site in order to modernize its appearance,
improve the user experience and further highlight real estate
brokers’ expertise and the advantages of doing business with
a broker. The new version of the Centris.ca website will be
launched in 2014.
Centris.ca continued to make headway among Québec
consumers: after registering an 87% increase in traffic in 2012,
the number of visitors to the website jumped by 138% in 2013.
The advertising campaigns, SEO work and improvements made
to the website therefore provided excellent results. In addition,
an iPhone, iPad and Android application for consumers and an
iPad application for brokers were launched in order to meet the
growing demand for mobile tools.
Centris® continued to focus on improving the quality of photos
in Matrix and in the various real estate broker websites and,
at the same time, continued to educate members about the
importance of taking quality photos.
The Centris® Help Desk remained fully available to members,
providing assistance and answering questions 365 days a year,
and responded to more than 22,000 requests in 2013.
›
Greater Montréal Real Estate Board | 2013 Annual Report
10
ACTIVITY REPORTS (CONTINUED)
In addition, Centris® works in partnership with the Market
Analysis Department of the Québec Federation of Real Estate
Boards for the compilation and management of real estate
data used by the Federation for its market analyses, press
releases and other purposes.
Centris® significantly enhanced the training it provides on
its various tools, resulting in a substantial increase in the
number of registrations and the participation rate. These
training sessions, offered free of charge, are given in many
different formats – webinars, in class, and in real estate
agencies. Furthermore, a calendar of the different training
sessions has been produced. The Marketing team has created
video tutorials that allow brokers to familiarize themselves
with the main functions of the InstanetFormsTM and Immocontact tools. The team has also ensured the visibility of Centris®
and Centris.ca at various real estate industry conferences
and events, including having its Centris.ca exhibition stand
displayed at the City and Suburb Home Show at the Olympic
Stadium, among other events.
›
Centris® Management Committee
Marc-André Pilon, President
Chambre immobilière des Laurentides
Ginette Beardsell
Greater Montréal Real Estate Board
Clément Bourassa
External member
Claude Charron
Greater Montréal Real Estate Board
Daniel Dagenais
Greater Montréal Real Estate Board
Patrick Juanéda
Greater Montréal Real Estate Board
Xavier Lecat
Chambre immobilière de l’Outaouais
Christiane St-Jean
Chambre immobilière de Québec
Use of Centris.ca
Number of visits
The Development and Integration team helped to further
develop the approximately 20 Centris® tools available to brokers
by making some 250 improvements in 2013. For example, six
practical functions were added to the Immocontact tool in
the spring. To contribute to the assessment and selection of
future technology tools, the team seeks feedback from brokers
through focus groups.
Increase of
694% in 4 years
January 2011
January 2012
January 2013
Greater Montréal Real Estate Board | 2013 Annual Report
January 2014
11
ACTIVITY REPORTS (CONTINUED)
Collège de l’immobilier du Québec
The year 2013 held special meaning for the Collège
de l’immobilier du Québec, as it marked its twentieth anniversary. The year was a particularly successful one, thanks to the
passion and experience of those who make up its team: its
employees, its teachers and its administrators. In 2013, the
diversification of the programs offered and its sound management allowed the Collège to once again deliver results that
reflect this renowned institution in the field of real estate and
mortgage brokerage.
Following the announcement of the new law on mandatory
basic training, the Collège completed the necessary steps
to ensure that all of its programs are recognized by the
Organisme d’autoréglementation du courtage immobilier
du Québec (OACIQ) in time for September 1, to ensure the
continuity of its operations. The Collège continued to promote
its programs, including its two speciality programs, Commercial Real Estate Brokerage and Mortgage Brokerage. The
Collège was also required to file its self-evaluation report
as part of the Institutional Policy on Program Evaluation, and
renew its permit at the Ministère de l’Éducation.
In June, the Fondation du Collège de l’immobilier held its
annual Excellence Night, the most important event for the
recognition of real estate education in Québec. The atmosphere was festive to mark the 20th anniversary of the
Collège and the 10th anniversary of its Fondation. An excellent
performance by comedian François Massicotte also contributed to the success of this event. The Excellence Night
brought together 187 guests, and 14 awards were handed out
to those students who had the best results in their respective
programs.
Greater Montréal Real Estate Board | 2013 Annual Report
12
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Greater Montréal Real Estate Board | 2013 Annual Report
13
PERMANENT COMMITTEES
Finance and Audit Committee
Governance Committee
Election Committee
Sylvain Girard
Treasurer – Comittee President
Compas Immobilier
Diane Ménard
Vice-president, Comittee President
Royal LePage Privilège
Sylvain Girard
Treasurer – Comittee President
Compas Immobilier
François Bissonnette, REALTA
François Bissonnette, REALTA
Martin Cayer, Royal LePage Dynastie
Daniel Dagenais, Groupe Sutton-Expert
Lorraine Turpin, RE/MAX Alliance
Diane Ménard, Royal LePage Privilège
Jocelyn Vaillant, Via Capitale
du Mont-Royal
Michèle Langelier Sanche,
external member (past president)
Yvon Cousineau, external member
Groupe Sutton Synergie
André Mandanice, RE/MAX Cité
Réjean Blanchette, external member
Pierre Lafond, RE/MAX Harmonie
(past president)
Robert Langlade, Immeubles Trans-Immo
(past president)
Jocelyn Vaillant, Via Capitale
du Mont-Royal
GROUPS
Group Committee President
Ginette Beardsell, Profusion Immobilier
Group Committee Vice-president
Carol Jarry, Via Capitale du Mont-Royal
IC&I Commercial
Guy Bélanger, President, Services immobiliers Synergie
Serge Cabana, Via Capitale Centre S.C.
René Lassonde, Century 21 Max-Immo
Roger Rhéaume, Immobilier Himalaya Real Estate
Michel Turcotte, Royal LePage Tradition
Centre
Chantal Gobeil, President, Keller Williams Urbain
Danièle Béland, Via Capitale Distinction
Jean-Robert Benoit, Century 21 Innovation
Anick Boucher, Sotheby’s International Realty Québec
Conrad Deschênes, RE/MAX Excellence
Francine Lauzon, Via Capitale du Mont-Royal
Mélissa Mensing, Groupe Sutton Immobilia
East
Maria Milioto, President, RE/MAX Alliance Saint-Léonard
Robert Bouchard, Groupe Sutton Synergie
Marie-France Dumais, RE/MAX des Mille Îles
Claire Hélène Gosselin, Via Capitale Banlieue Est
Palma Marguglio, Les courtiers Enna
Carmine Marrone, RE/MAX Excellence
Georges Mercier, RE/MAX Cité
Noël-André Scano, Noël-André Scano
Laval | North Shore
Chantal Demers, President, RE/MAX Immo-Contact
Steve Beauregard, RE/MAX des Mille Îles
Luc Gaudet, Century 21 Pro-Services
Nathalie Gélinas, Via Capitale Centre
Christiane Lavoie, Groupe Sutton Synergie
G Rolland Paquette, Proprio Direct
Denise Sabourin, Royal LePage Le Carrefour
Lyse Tremblay, Century 21 Max-Immo
Chantal White, Via Capitale Centre
West
Ginette Beardsell, Pesident, Profusion Immobilier
Marc Boivin, RE/MAX Cadibec
Marie-Lise Cardinal, RE/MAX Royal Jordan
Marie-Hélène Chartier, RE/MAX Action
Richard Couture, Via Capitale Avantage
Daniel Dagenais, Groupe Sutton-Expert
Alberto Di Cesare, RE/MAX Royal Jordan Pointe-Claire
Sylvie Sénéchal, Groupe Sutton Distinction
Susan E. Woods, House of Woods
South Shore
Marie-Claude Charron, President, RE/MAX Imagine
Denise Anctil, Royal LePage St-Jean
René Brouillette, Royal LePage Haut-Richelieu
Gaétan Dubuc, Groupe Sutton-Action
Christian Parent, Royal LePage Haut-Richelieu
Cléo J. Thibault, Royal LePage Extra
Greater Montréal Real Estate Board | 2013 Annual Report
14
FINANCIAL STATEMENTS
Consolidated Statement of Financial Position
December 31, 2013
2013
2012
Assets
Current assets
Cash
$ 6,133,437 $ 4,932,210 Investments
10,000 10,000
Sales tax receivable
784,742 –
Accounts receivable
776,559 732,380
Supplies
20,497 20,428
Prepaid expenses
230,360 261,604 7,955,595 5,956,622
Capital assets
Security deposit, without interest, maturing in 2016
Liabilities
Current liabilities Sales tax payable
Accounts payable and accured liabilities
Deferred revenues
Deferred lease inducements
4,826,773 21,353 $ 12,803,721$
5,151,125 21,353 $ 11,129,100 $ 977,997
$ 21,182 3,722,551 3,750,886
2,298,539 1,854,172
30,216 30,216 7,029,303 5,656,456 Deferred lease inducements
7,680 37,896 Net assets
Invested in capital assets
Unrestricted
4,273,432 1,493,306 5,766,738 $ 12,803,721 4,574,744 860,004 5,434,748 $ 11,129,100 ›
Greater Montréal Real Estate Board | 2013 Annual Report
15
FINANCIAL STATEMENTS
Consolidated Statement of Operations
December 31, 2013
20132012
GMREB Operations
GMREB
Inter-company
Collège
Total
Advertising Fund
Operations **
GMREB Operations
Revenues
Member fees
Training
Other revenues*
Administrative fees
Membership and transfer fees
8,105,415
111,913 2,398,938 436,620 291,300 11,344,186 Expenses
Salaries and fringe benefits
Advertising campaign
Centris® services and other
System maintenance and operations
Training
Administrative fees
Building and occupancy
Communications and public relations
Amortization of capital assets
Professional fees
Governance
Association activities
5,328,452 744,623 6,073,075 2,422,692 2,422,692 2,339,366 2,339,366 949,270 24,818 974,088 28,240 838,962 867,202 660,217
216,071 (116,788) 759,500
320,144 197,011
517,155 428,319 19,949 (400) 447,868 337,089 117,334 454,423 389,684 61,333 451,017 200,138 –
200,138 164,426 1,899 166,325 11,145,345 2,422,692
2,222,000 (117,188) 15,672,849 Excess of revenues
over expenses
198,841 2,422,692
$ 10,528,107 2,347,974 2,459,887 2,398,938 7,175 (117,188) 326,607 291,300 2,422,692 2,355,149 (117,188) 16,004,839
–
133,149 –
$ 331,990 8,439,596
114,225
2,219,035
445,002
308,300
11,526,158
GMREB
Inter-company
Collège
Total
Advertising Fund
Operations **
1,223,408 $ 9,663,004
2,566,832 (23,100) 2,657,957
2,219,035
21,584 (190,951) 275,635 308,300 1,223,408 2,588,416 (214,051) 15,123,931
5,381,208 760,960 6,142,168
1,223,408 1,223,408
2,405,713 2,405,713
872,586 31,603
904,189
37,861 921,697 959,558
571,006
296,221 (186,058) 681,169
439,507 212,518 (4,893) 647,132
506,427 33,973 (23,100) 517,300
434,400 161,993
596,393
324,809 70,823 395,632
168,481 168,481
200,099 2,213 202,312
11,342,097 1,223,408 2,492,001 (214,051) 14,843,455
184,061
–
96,415 –
$ 280,476 On behalf of the Board,
* Revenue from Centris® services provided to Québec’s 11 other real estate boards represent
$1,427,866 in 2013 and $1,358,451 in 2012
** Inter-company operations primarily represent administrative and technology services provided
by the GMREB to the Collège. For consolidation purposes, these elements must be eliminated.
Patrick JuanédaDirector
President
Diane Ménard
Vice-president
Director
The complete version of the financial statements is available at www.gmreb.qc.ca, in the members’ section.
Greater Montréal Real Estate Board | 2013 Annual Report
16
600 chemin du Golf
Île-des-Sœurs (Québec)
H3E 1A8
Telephone: 514-762-2440
Fax: 514-762-1854
www.gmreb.qc.ca