2015-2016 Annual Report - British Columbia Real Estate Association

Transcription

ANNUAL REPORT I
2015–2016
ENSURING THE CONTINUED VALUE OF REALTORS® IN BC
PRINT
PRESIDENT'S
REPORT
BOA RD
OF
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
D IREC TOR S
2015-2016 Board of Directors
Back row (left to right):
Gary McInnis, Jim Stewart,
David Kearney, Dick Pemberton,
Anthony Ariganello, James Palanio
Front row (left to right):
Robert Laing, Deanna Horn,
Scott Russell, Jake Moldowan,
Rosario Setticasi
2015-2016 BCREA Officers
(left to right):
Chief Executive Officer Robert Laing,
President-Elect Deanna Horn,
President Scott Russell,
Past President Jake Moldowan
BCREA
STAFF
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
TA BLE
OF
CEO'S
REPORT
STRATEGIC
PLAN
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
CONT E NTS
BOARD OF
DIRECTORS
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . inside cover
PRESIDENT'S
REPORT
...................................................... 2
CEO'S
REPORT
FINANCIAL
STATEMENTS
...................................................... 3
CORE PURPOSE
Ensuring the continued value of REALTORS® in BC
CORE VALUES
• Member board vitality
STRATEGIC
PLAN
• REALTOR® success
▸ Innovation .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
• REALTOR® professionalism
▸ Professionalism. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
• Quality of Life
▸ Consumer Experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
▸ Ensuring economic vitality
▸ Core Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
▸ Providing housing opportunities
FINANCIAL
STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
VOLUNTEERS &
HON. MEMBERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
MEMBER
BOARDS
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
BCREA
STAFF
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
▸ Preserving the environment
▸ Protecting property owners
▸ Building better communities
• Public trust
BOARD OF
DIRECTORS
CEO'S
REPORT
PRE SIDE NT ’S
Scott Russell
President
2
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
RE P OR T
This was the first year of our new five-year
Strategic Plan, which outlines three major
strategic goals for the Association: a new
structure for the real estate profession in the
province to better create value; new projects
that support both REALTORS® and consumers
during their decision-making process and
transactions; and continuing to deliver our
valued core services.
BCREA has wholeheartedly supported the work
undertaken by a dedicated group of member
board Presidents, staff and external experts
to examine the current state of organized real
estate in BC and explore options for what a
new structure might look like. This work has
been intense and exciting as we take tangible
steps to transform what the future of organized
real estate will be in the province.
A major focus for the Association this year was
about the best structure for the real estate
profession in the province. What does that
mean? It’s about how we use the resources
we have in the best way possible. It’s about
helping REALTORS® be innovative and creative
in serving our clients. It’s ultimately about
ensuring the continued value of REALTORS® to
consumers. By building the best structure we
can, we are also providing a strong foundation
upon which to launch the other strategic
projects in our plan.
I’m proud to have been President during this
period of discussion, reflection and planning.
I’m also proud of all that the Association has
been able to accomplish at the same time.
Thank you to the Board of Directors for their
hard work and insights, as well as to the
Association staff for working tirelessly behind
the scenes.
British Columbia Real Estate Association Annual Report 2015—2016
The coming year holds many changes for both
the Association and our broader community.
I’m excited to see what will come out of the
seeds that have been planted this past year.
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
CHIEF E XECUTIVE OFFICER’S REPORT
The past year has seen significant resources
invested in launching our Strategic Plan and
facilitating discussions around the future of
organized real estate in the province. Whatever
the results of those discussion, we are entering
a period of significant change, which will be
our normal state as we evolve our organization
(both operationally and strategically) to meet
REALTOR® and consumer needs.
At the same time, we worked hard at
delivering on the key elements of our
Strategic Plan. We initiated a number of
new projects in 2015, including a refresh
of our standard forms which will roll out in
2016. We also initiated discussions with
BC Assessment to renew our data sharing
agreement on behalf of our members.
Education continues to be an important
focus, especially the launch of our new
Applied Practice Course (APC) and expanding
our Professional Development Program. The
hard work and collaboration with the Real
Estate Council resulted in an international
award for the APC from the Association of Real
Estate License Law Officials. Our technology
investments also paid dividends in helping
deliver the APC, as well as reducing meeting
costs for our Board of Directors.
Our advocacy efforts continue to focus on
key issues such as reducing the negative
impact of the Property Transfer Tax on housing
affordability, the need for updated floodplain
maps, changes to the Strata Property Act and
the need for a consistent, centralized process
for disclosure of drug operations and their
remediation.
We have also worked hard to build
and strengthen relationships with key
stakeholders, with Association staff and
Directors involved in a number of board
positions, task forces, working groups
and advisory councils. This speaks to the
credibility and expertise that BCREA is able to
provide, increasing credibility for organized
real estate as a whole.
1
Robert Laing
Chief Executive Officer
I’m confident that organized real estate has
a bright future ahead.
3
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
S T R AT E G I C
P L A N
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
▶ INNOVATION
Through research and engagement in 2015, BCREA developed
a new five-year strategic plan. This Strategic Plan is structured
around innovation, professionalism and the consumer
experience, with objectives aimed at enabling quick response to
change, focusing resources and expediting decision making.
BCREA will begin implementing a number of changes
prioritized by brokers and REALTORS® in the near
future, following the initiation of several projects in
2015, such as: a Youth Leadership Pipeline, revised
standard forms and a provincial MLS® system.
The Strategic Plan recognizes three strategic goals:
Aimed at mentoring young people to become leaders
in the real estate profession, the Youth Leadership
Pipeline Task Force conducted an environmental survey
to discover the ways in which BCREA can build a strong
mentorship program that will support the development
of young leaders.
1. Create a new structure for organized real estate in British
Columbia that will enhance REALTOR® professionalism and
reputation.
2. Develop projects aimed at supporting both REALTORS® and
consumers in the transaction and decision-making process.
3. Provide continued valued core services to members.
In 2015, each of these areas included projects to further these
goals. Through meetings and discussion with representatives
from across the province, environmental surveys and market
research, project plans went from conception to development.
With a new structure at the forefront of BCREA’s approach to
these projects, the Association is poised to adapt.
From an operational standpoint, BCREA and its member
boards analyzed options to streamline structure, and BCREA is
positioning itself to be responsive to evolving REALTOR® needs,
and adapting to the changing landscape of organized real estate
in the province.
4
In preparation for negotiations with BC Assessment, a
BCREA task force was struck to prepare for a renewed
data exchange contract.
A task force began the process of assessing a single
MLS® System in the province.
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
STRATEGIC
PLAN
▶ PROFESSIONALISM
The Association continued to deliver on Professional
Development Program commitments and innovations
outlined in the 2014-2016 Education Plan,
Memorandum of Understanding with member boards,
and Strategic Plan.
Through cooperative and collaborative effort in 2015,
BCREA strengthened its relationships with the Land
Title and Survey Authority Advisory Committee, BC
Assessment Board, Notaries Board, CREA task forces
and working groups, REvia: The Real Estate Knowledge
Network, and the provincial Economic Forecast Council,
demonstrating the expertise that BCREA offers to
other organizations and increasing the credibility of
organized real estate within the provincial structure.
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
▶ CONSUMER EXPERIENCE
To improve the way that REALTORS®navigate
WEBForms® and find the standard forms they need,
BCREA has made changes to form titles, as well as
categories. These comprehensive changes shorten
titles and rearrange keywords, making forms easier to
find. Several titles have been changed on the physical
forms, while some only changed on WEBForms®.
Standard forms are integral to real estate transactions
and, for REALTORS® to best serve their clients, it is
crucial that these forms are easily accessible.
REALTOR® satisfaction with BCREA services
When asked about satisfaction
with BCREA services, members
are most satisfied with standard
forms, with 68.9% rating it as a
4 or 5 out of 5.
– 2015 BCREA Member Board Survey
2015 REALTOR® Survey
5
▶
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
Advocacy
As it has for many years, the Quality of Life approach provides
the framework for BCREA’s advocacy efforts. Using Quality of
Life, BCREA aligns its goals with those of the government and the
public, establishes alliances with other organizations, supports
positions and recommendations with solid research and seeks
balance among the following five principles:
• Ensuring economic vitality
• Providing housing opportunities
• Preserving the environment
• Protecting property owners
• Building better communities
Positive working relationships with member boards,
elected officials, government staff and stakeholders are the
foundation of an effective government relations program, and
continued to prove invaluable in 2015. Invitations to participate
in meetings and collaborate on projects, particularly related to
issues on which BCREA places the highest priority, indicate the
Association is considered to be an important voice, laying the
groundwork for future influence on public policy.
Housing affordability was a hot topic in the media in 2015. This
aligned well with BCREA’s extensive consultations with member
boards and REALTORS® regarding the Property Transfer Tax, in an
effort to examine alternative structures to balance the provincial
government’s need for revenue with fairness and affordability
for buyers.
Policy influence: The 2016 provincial budget provided for
a PTT exemption for new homes used as principal residences
for properties priced up to $750,000. On the other hand,
the budget also added a third tier to the tax, applying 3%
to the fair market value above $2 million.
For REALTORS®, the most important issue for the provincial government to address is
minimizing the negative impact of the Property Transfer Tax.
As a result, BCREA’s influence was evident throughout
the year, as recommendations were reflected in government
policy and positions taken by stakeholders
on several issues.
6
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
During Government Liaison Days in April 2015, 75 delegates met with
56 Members of the Legislative Assembly to discuss the need to improve disclosure and
remediation processes for properties used in drug operations. BCREA also held a meeting to
discuss remediation with a wide variety of stakeholders, including representatives from financial
institutions, the insurance industry and the property inspection sector.
Implementation of BCREA’s Floodplain Maps Action Plan continued in 2015
with the publication of the BC Floodplain Map Inventory Report and an
updated Floodplain Mapping Funding Guidebook for BC Local Governments.
BCREA continues to enjoy support for its work on this initiative from a wide
variety of stakeholders, including the Fraser Basin Council, Adaptation to
Climate Change Team at Simon Fraser University, Okanagan Basin Water
Board, Urban Development Institute, Insurance Bureau of Canada and
professional engineers.
BCREA President Jake Moldowan (centre) presents the
BCREA Government Relations Award to Neil Woodrow,
Darrell Paysen, Janice Stromar, Jason Finlayson, Margo
Hoffman and Bill Benoit of the Vancouver Island Real
Estate Board
Policy influence: The federal government launched the National
Disaster Mitigation Program, which funded floodplain maps; the
governments and BC and Canada added emergency preparedness
portfolios to their cabinets; the federal government began a project
to create national guidelines for floodplain mapping; BC’s Climate
Leadership Team recommended mapping all climate related hazards
by 2020; Insurance Bureau of Canada called for a national flood
program, including floodplain mapping.
Strata properties are an increasingly popular and important housing type for British Columbians. In
2015, through a REALTOR® focus group, stakeholder meetings and legal research, BCREA examined the
challenges REALTORS® face in obtaining documents during strata transactions. As a result, and after
further stakeholder consultations, BCREA anticipates making new policy recommendations in 2016.
Policy influence: The Strata Property Act was amended to make it easier to terminate a strata
corporation, and planning for the Civil Resolution Tribunal continued throughout 2015, with
full implementation expected in 2016.
From the comments
of the MLAs,
they consider
[Government Liaison
Days] to be a good
opportunity to hear
about our concerns,
and they take them
to heart.
– 2015 Government Liaison Days
delegate survey respondent
7
▶
▶
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
▶
Advocacy
On a daily basis, BCREA continued to address issues of importance
to REALTORS®, real estate and the province. Energy efficiency of
existing homes, changes to the Real Estate Services Act, First Nations
home ownership, manufactured homes and electrical safety, water
governance, land remediation and the new Societies Act were among
the many public policy issues with which BCREA engaged in 2015.
Six member boards received funding from BCREA to carry out federal
election projects, including sponsorship of all-candidate forums,
recording of a candidate forum to expand access, and the use of
social media to connect candidates with voters. The Vancouver Island
Real Estate Board received BCREA’s Government Relations Award for
its successful No Vote, No Voice election website, which featured
candidate information to encourage informed voting.
Communications
In 2015, BCREA continued the implementation of its strategic communications plan, more fully
integrating the use of social media to deliver its messaging to members, stakeholders, community
groups and the media. The Association maintained its delivery of engaging and relevant content on
Real Talk, an interactive website developed and maintained in collaboration with the Real Estate Board
of Greater Vancouver. In 2015, the team developed a monthly email update to alert members of new
content on the site and focus conversations to a portal that allows for open discussion around issues
that affect REALTORS®and their businesses.
BCREA distributed both print and online newsletters throughout the governance year, including
publishing printed issues of The Bulletin quarterly, Connections online quarterly, Legally Speaking online
eight times and BCREA eBulletin online monthly. The Association also continues to distribute regular statistics releases, housing market
updates, and economics podcasts, incorporating the use of video to engage its membership and deliver important market updates.
8
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
STRATEGIC
PLAN
▶ Economics
BCREA continued its efforts to enhance the REALTOR®
brand, fortify organized real estate as a provincial
voice and partner with member boards for the success
of REALTORS® across the province. The Economics
Department strives to be at the leading edge of real estate
market forecasting, knowledge and issue/public policy
analysis in British Columbia.
In 2015, BCREA participated in a series of housing
affordability webinars for BC Housing, sharing its
preliminary results on long-term housing demand in the
province and its three largest urban centres: Vancouver,
Victoria and Kelowna. The department also tackled the
controversial topic of foreign investment in residential real
estate and released a report highlighting the available
data, international examples and the structural drivers
behind housing prices in Vancouver.
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
The Economics
Department
provides
information,
analysis and
presentations
to communicate
market dynamics
and bolster the
knowledge base
for REALTORS®,
industry stakeholders and the government. Regularly engaging with
member boards to communicate the impacts of policy and the macroeconomic environment on local market conditions, and providing
analysis and commentary on regional statistical trends, the Economics
Department is the “go-to” source for housing information.
Further, through analysis and modelling of the economic impacts
of proposed policy changes, the department supports BCREA's
government relations activities. Due to its reputation for objective and
credible analysis, frequent media interviews, as well as informational
requests, are directed to the Economics Department.
In 2015, the Housing Forecast was adapted to incorporate a more
regional focus and provide specific local information to REALTORS®.
This ongoing support from BCREA’s widely-renowned economists, who
consult for the International Monetary Fund, provide macro-economic
forecasts to the Philadelphia Federal Reserve, and participate on the
BC Government Economic Forecast Council helps provide REALTORS® in
BC with the information they need to remain relevant to their clients.
9
▶
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
Education
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
▶ PDP
BCREA continues to transform
REALTOR® education and deliver
on the Professional Development
Program (PDP) commitments and
innovations outlined in the 2014-2016 Education Plan, Memorandum of Understanding
with member boards and represented in BCREA’s Strategic Plan.
Learning Paths 2.0
BCREA continues to enhance the quality, diversity and access of PDP learning opportunities
for REALTORS® as Emerging Professionals, Career Builders and Seasoned Professionals. For
residential and commercial practitioners, and for brokers, BCREA added new PDP learning
options that provide value to a REALTOR®’s business and their clients.
BCREA's PDP On Demand course Broker FINTRAC Audit
Experiences demonstrates to learners how to navigate
FINTRAC
PDP Online Learning Options
British Columbia REALTORS® now have more options for how they can fulfill their PDP
requirements: by completing their credits online, in the classroom, or combining the two. New
and improved online courses cover current issues in the industry, legal and legislative changes,
and topics that are not being covered in other PDP classroom-based courses. In partnership with
REvia: The Real Estate Knowledge Network, BCREA offers national real-estate specific courses
related to Canada’s Anti-Spam Legislation Financial Transactions and Report Analysis Centre of
Canada (FINTRAC), and competition law, as well as other BCREA-developed PDP online courses.
With the UBC Sauder School of Business, BCREA offers the mandatory Legal Update course
online, as well as a roster of other PDP-accredited commercial and residential courses.
For more information about the new online learning options for all PDP Learning Paths, see
www.bcrea.bc.ca/realtor-education/new-pdp/online-learning.
BCREA course Strata Fundamentals provides learners
with the how-to on transactions involving stratas
10
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
Innovations in Strata Education
The complicated, risky and ever-changing nature of strata transactions in BC has warranted new and
innovative investments in strata education for BC REALTORS® In 2015, BCREA launched two new PDP
strata course options: the new Strata Fundamentals course and the online PDP On Demand episode
Strata Depreciation Reports for REALTORS®.
Strata Fundamentals is also the PDP’s first blended course, where part of the course is completed
online and a hands-on, interactive component is completed in the classroom. This 12-credit course is
the only fundamentals course in the province geared towards the role of the REALTOR® in the strata
transaction. Course attendees have provided strong positive feedback on the comprehensive nature
and value of this course for any REALTOR® involved in strata transactions, and that they are utilizing
the checklists and other resources provided in the course in their daily operations.
Strata Depreciation Reports for REALTORS® is the first episode in BCREA’s online PDP On Demand
Strata Talks series. This course offers information on REALTOR®responsibilities when working with
clients and strata depreciation reports.
MEMBER
BOARDS
BCREA
STAFF
From 18,000
course evaluations
for all new PDP
classroom courses
since launch,
course content,
instruction,
materials and
relevance
achieved
consistent
median of 5/5
(very satisfied or
excellent).
11
▶
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
Education
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
▶ PDP
Growth and Expansion of Category C
Member board education events and courses continue to grow and deliver timely, regional learning
opportunities. In 2015, BCREA member boards offered over 30 Category C education events or courses. In
the 2015 Category C Impact Report, BCREA’s member boards reported that Category C is delivering strong
value to REALTORS®.
In cooperation with its member boards, BCREA completed an Industry Events Category C Expansion
research project in 2015, and ran Category C pilots for a number of industry-related events, such as the
CREA Commercial Conference, the Asian Real Estate Association Vancouver Summit and the Vancouver
Leasing Forum.
Education by the Numbers
MEMBER
BOARDS
BCREA
STAFF
In 2015, 88%
of BCREA’s
member boards’
senior staff and
Directors were
“very satisfied”
or “satisfied”
with PDP goals,
performance
objectives and
measures.
– 2015 BCREA Member Board
Survey
Number of PDP course seats offered in 2015
Top 5 PDP Courses 2015 Course Statistics
12
APC learners in session at the UBC Robson Square
campus
▶
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
▶ Education
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
▶ APC
BCREA achieved two milestones in 2015 with the Residential and Commercial
Trading Services Applied Practice Course (APC). The completely redesigned
residential course launched in January and the commercial course
launched in March.
The redesign of the APC transformed the course from a five-day,
ten-unit, lecture-based format to a six-month blended learning
experience that includes online, in-class, role-play and inbrokerage components. The new course content focuses on core
competencies for regulatory compliance: agency, disclosure and
standard forms and contracts. It delivers greatly-improved practice
and application experiences for new licensees.
BCREA and Real Estate Foundation of British Columbia
staff accept the Education Award in the Post-Licensing/
Continuing Education Course category from ARELLO®
The APC Wins Education Award
Developed and operated on behalf of the Real Estate Council of British Columbia, the course won an
Education Award in the Post-Licensing / Continuing Education Course category from the Association
of Real Estate License Law Officials (ARELLO®) in September.
The Council is extremely pleased that
the new Applied Practice Course has
been recognized by ARELLO®. The course
is the culmination of outstanding work
and collaboration by many wonderful
individuals and sets an excellent standard
for education in the real estate industry.
– Robert Fawcett
RECBC Executive Officer
Demonstrating that
great things can be
produced when the
Real Estate Council
and BCREA collaborate
to enhance
professionalism – this
award is good news
for both consumers
and real estate
licensees in BC.
– Robert Laing
BCREA Chief Executive Officer
13
▶
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
Education
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
▶
▶ APC
According to 2015 course evaluations, interviews and focus groups:
• While there is no substitute for experience, learners who
complete the new course report feeling better prepared
to meet the challenges of a career in real estate.
• Managing brokers report that new licensees are better
equipped to begin working in the brokerage.
2015 APC at a Glance
This year, over 1,650 learners started or completed the new course.
In 2015, the greatest number of Applied Practice Course learners
came from Vancouver (355), Surrey (276) and Richmond (172).
2416
1916
2276
2125
Based on 344 evaluations of Component Two, learners have greater
confidence in their ability to list a property and represent a buyer in
an agency relationship.
Competencies related to drafting and understanding contracts
remain a top-of-mind challenge for APC learners, and they value the
opportunities for practice provided in the new course format:
2049
1789
1837
1681
1298
1481
1042
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Residential and Commercial Trading Services Applied Practice Course enrolment
14
In an online evaluation, 617 learners rated their understanding of the
core concepts of agency, disclosure and contracts, before and after
completing Component One of the new APC.
• In Component One, over half of all learners were required to make
corrections after submitting a Contract of Purchase and Sale for marking.
• The majority of learners find the drafting of the Contract of Purchase and
Sale and the other practice/role-play opportunities in Component Two to
be “engaging, relevant and useful.”
• In the final survey submitted at the end of the four-and-a-half-month
in-brokerage component of the course (Component Three), learners rank
drafting the Contract of Purchase and Sale as “still challenging.”
▶
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
▶ Te c h n o l o gy
Technology was a key deliverable to meet contractual scope for
the Applied Practice Course with the Real Estate Council of British
Columbia (RECBC). Since beginning to transform education, it was
anticipated that this ambitious plan would require new IT solutions.
For the APC, Wavelength was the only administrative platform that
could sustainably offer the new blended model. Its success is
unprecedented in organized real estate in BC.
The benefit of the platform is two-fold:
1. Supports sophisticated tracking of licensees who now
have the opportunity to apply and practice their new
competencies, and
2. Allows BCREA and RECBC to use data to support decisions on
how to further improve course content and administration.
In 2015, Wavelength provided
BCREA the ability to visualize data,
bringing key stakeholders into the
conversation. Now, BCREA can
identify where APC learners are
from and the frequency of their visits, removing scheduling and
availability issues, and allowing close to real-time validated datadriven decisions. Further, simple metrics are now being tracked; for
example, demonstrating that average age is lowering. This will allow
BCREA to shape future initiatives according to evidence.
BCREA can now make programming and administrative decisions
with accurate framing and validation. The ability to track trends
of learners informs the prioritization of resources and presents
information in a way that BCREA’s stakeholders can trust.
The IT Department also expanded the use of video conferencing
technology for the BCREA Boardroom, allowing cost savings around
meetings of the Board of Directors and others.
Simply put, we did not know who our
learners were before Wavelength. We
now know who they are and how they
are performing.
– Robert Laing
BCREA Chief Executive Officer
▶ Finance
& Administration
The BCREA Finance and Administration Department continued to implement improvements to BCREA’s financial
processes and analysis in 2015. The department gained the capacity to perform complex financial modeling and
analysis to better inform decision makers. Further, BCREA was nominated for an award from Altus Dynamics for
using its system to increase the effectiveness of the information and the efficiency of processes.
15
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
STRATEGIC
PLAN
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
AUDITED FINANCIAL STATEMENTS
This excerpt from BCREA’s 2015 Audited Financial Statements includes
the Statement of Financial Position and the Statement of Operations.
BCREA
STAFF
(excerpt)
The complete 2015 Audited Financial Statements, including notes, are
available on BCREA’s REALTOR Link® homepage (www.realtorlink.ca) or
by contacting the BCREA office by phone at 604.683.7702.
STATEMENT OF FINANCIAL POSITION
DECEMBER 31
Current Assets
Cash (Note 3)
Investments (Note 4(a))
Restricted cash (Note 7(b))
Accounts receivable
Due from BWC (Note 7(b))
Dues from (to) other funds
Grants receivable (Note 11)
Inventories
Prepaid expenses
OPERATING FUND
$
Total Current Assets
Investments (Note 4(b))
Capital assets, net (Note 5)
Intangible assets, net (Note 6)
Investment in joint arrangement (Note 7(a))
2,810,419
1,643,651
49,508
203,480
1,374
(84,731)
50,000
504
92,457
APPLIED PRACTICE COURSE
$
Current Liabilities
Accounts payable and accrued liabilities
Restricted conference funds payable (Note 7(b))
Total Current Liabilities
$
Deferred capital contributions (Note 8)
Total Liabilities
Net Assets
Unrestricted
Invested in capital and intangible assets
Internally restricted (Note 9)
Externally restricted reserves (Note 10)
Total Net Assets
$
1,965,587
1,764,745
203,295
136,533
99,879
6,282
116,096
5,455,755
4,292,417
203,679
627,504
244,376
2,461
-
244,376
206,140
627,504
255,613
689,105
-
381,800
$
935,930
531,007
$
2,000
533,007
362,965
182,875
49,508
182,875
203,295
201,391
580,515
$
184,875
$
$
6,915,575
187,780
5,979,645
765,390
$
$
5,424,915
767,651
90,042
-
90,042
100,000
670,557
184,875
855,432
867,651
1,996,551
831,182
2,481,355
-
2,461
748,594
1,996,551
833,643
2,481,355
748,594
633,371
944,718
2,456,355
522,820
5,309,088
$
3,414,282
1,643,651
49,508
203,480
1,374
50,000
504
92,956
689,093
49,508
-
Deferred revenue
$
2014
4,766,662
381,800
$
603,863
84,731
499
2015
5,979,645
751,055
$
935,930
6,060,143
$
6,915,575
4,557,264
$
5,424,915
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
STATEMENT OF OPERATIONS
For the year ended December 31
OPERATING FUND
APPLIED PRACTICE COURSE
2015
2014
Revenue
Members’ assessments
Members’ initiation fees
Applied Practice Course administration fees
Course fees
Other income
Event revenue
Investment income, net (Note 4)
Grant income
$
$
4,531,875
761,175
1,041,481
19,969
3,500
151,956
50,724
$
1,573,943
433
4,527
-
$
4,531,875
761,175
2,615,424
20,402
3,500
156,483
50,724
$ 4,370,146
214,604
148,100
1,978,698
4,524
83,324
198,122
229,603
6,560,680
$
1,578,903
$
8,139,583
$ 7,227,121
Expenses (Schedule 1)
Education
Course development and production
Salaries, benefits and training
Cost of sales course material
Consulting fees
Travel and meetings
Revenue-sharing
Instructor fees and training
Applied Practice Course administration fees
Collaboration platforms
General department expenses
Communications
Government relations
Economics
Operations
Governance
Journey of Discovery (Note 13)
Strategic Plan (Note 14)
Banff Western Connection, net (Note 7(b))
Administration and overhead costs
Amortization of capital assets
Amortization of intangible assets
Audit and accounting
Salaries, benefits and training
Rent
Legal
Travel and meetings
Other overhead costs
Applied Practice Course overhead allocation
Excess of revenue over expenses for the year
$
93,544
495,036
158,441
42,627
67,646
61,306
4,718
126,500
89,238
547,605
403,030
312,797
464,784
406,369
419,742
14,616
7,772
271,667
5,651
102,597
246,113
46,125
202,350
135,579
-
101,316
766,703
158,441
48,278
170,243
61,306
250,831
46,125
328,850
224,817
547,605
403,030
312,797
464,784
406,369
419,742
14,616
298,044
727,205
150,020
79,627
162,478
48,368
171,988
185,125
357,225
256,086
506,004
484,111
317,416
470,847
338,390
403,993
160,158
23,933
125,423
152,993
21,204
898,648
194,695
59,478
102,395
306,724
5,569,559
1,641
20,295
27,355
1,067,145
127,064
152,993
21,204
898,648
214,990
59,478
102,395
334,079
6,636,704
113,854
20,370
82,369
825,044
213,171
65,087
65,779
236,282
6,762,974
287,624
(287,624)
-
-
1,502,879
$ 464,147
1,278,745
$
224,134
$
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
MEMBER
BOARDS
BCREA
STAFF
VOLUNTEERS & HONOURARY MEMBERS
BOARD OF DIRECTORS’ COMMITTEES
FINANCE AND AUDIT COMMITTEE
GOVERNANCE COMMITTEE
HUMAN RESOURCES COMMITTEE
Dick Pemberton, Chair
Jim Stewart, Chair
Deanna Horn, Chair
Scott Russell (Ex Officio), Anthony Ariganello (BCREA),
Scott Russell (Ex Officio) , Sharon Bryan (BCREA),
Scott Russell (Ex Officio), Sharon Bryan (BCREA),
Nav Gill (Facet Advisors LLP), David Kearney (BCREA),
Deanna Horn (BCREA), Dick Pemberton (BCREA)
Rosario Setticasi (BCREA)
Rob Philipp (FVREB)
NOMINATING COMMITTEE
Jake Moldowan, Chair
Scott Russell (Ex Officio), David Kearney (BCREA),
Sally Kilburg (SOREB), Gary McInnis (BCREA),
Kevin Skipworth (REBGV)
WORKING GROUP
PRESIDENTS’ WORKING GROUP
Barry Benson (KREB), Garry Gratton (SOREB), Travis Heppner (CADREB),
Margo Hoffman (VIREB), Deanna Horn (BCREA), William Lacy (BCNREB),
Jorda Maisey (FVREB), Darcy McLeod (REBGV), Christopher Miller (OMREB),
Jake Moldowan (BCREA), Wendy Moreton (VREB), Scott Russell (BCREA),
Katherine Rutherford (KADREA)
18
HONOURARY MEMBERS
H.P. (Henry) Bell-Irving (deceased), Tommy Cantell (deceased),
Eric Charman, Stanley W. Hamilton, Pip Holmes (deceased),
Ken MacKenzie, Bob Melanson, Dermot Murphy (deceased), Gerry Neely
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
BCREA
STAFF
OPERATIONAL COMMITTEES
ARBITRATION COMMITTEE
BC COMMUNICATIONS GROUP
Rosario Setticasi, Chair
Cathy Boer (KADREA), Marianne Bond (KREB),
EDUCATION OPERATIONS
COMMITTEE
James Adam (CADREB), John Barbisan (FVREB),
Nora Cserny (VIREB), Eileen Day (REBGV),
Charlene Barrell (CADREB), Cathy Boer (KADREA),
Rosemary Barnes (REBGV), Barry Benson (KREB),
Alexandra Goseltine (BCNREB),
Terri Brown (OMREB), Francesca Buono (REBGV),
Sandra Benz (FVREB), David Blishen (KREB),
Karen Henderson (OMREB), Denise Hogue (VREB),
Linda Duchesne (VREB), Denise Johnson (FVREB),
Cyndi Crossley (KADREA), Guy Crozier (VREB),
Steve Lerigny (CADREB), Dawn Lysholt (SOREB),
Richard Joy (REBGV), Joelle Lavack (KREB),
John Evans (BCNREB), Frank Fairley (VIREB),
Craig Munn (REBGV), Darrell Paysen (VIREB),
Steve Lerigny (CADREB), Jennifer Lynch (VIREB),
Judy Klassen (SOREB), Kathy Koch (VIREB),
Carmen Wright (FVREB), Debbie Jay (FVREB)*,
Dawn Lysholt (SOREB), Kim Mantle (VREB)
Wendy Moreton (VREB), Satnam Sidhu (REBGV),
Harriet Permut (REBGV)*
Lori Nelson (BCNREB), Patti Wenman (VIREB),
Jake Siemens (CADREB)
Jake Zaikow (PRSCREB), Caroline Allen (Council)*
Mark Andersen (CADREB), Robert Gieselman (KADREA),
GOVERNMENT RELATIONS
STAFF GROUP
PROFESSIONAL DEVELOPMENT
COMMITTEE
Gisela Janzen (BCNREB), Sally Kilburg (SOREB),
Cathy Boer (KADREA), Marianne Bond (KREB),
Debra Formo (SOREB), Tom Garvey (REBGV),
Gary McInnis (VREB), Douglas Miller (REBGV),
Alexandra Goseltine (BCNREB),
Robert Gieselman (KADREA), Cathy Graham (KREB),
Donald Mussenden (REBGV), Darrell Paysen (VREB),
Denise Hogue (VREB), Debbie Jay (FVREB),
Michael Hofer (REBGV), Jennifer Lynch (VIREB),
Harriet Permut (REBGV), Leon Prescesky (REBGV),
Lynette Keyowski (OMREB), Steve Lerigny (CADREB/
Don McClintock (VIREB), Wendy Moreton (VREB), Rachel
Darcy Reddicopp (FVREB)
PRSCREB), Dawn Lysholt (SOREB),
Pasemko (OMREB), Ron Plowright (CADREB),
Darrell Paysen (VIREB), Harriet Permut (REBGV)
Ray Werger (FVREB), Charles Wiebe (FVREB)
GOVERNMENT RELATIONS COMMITTEE
STANDARD FORMS COMMITTEE
Angie MacDonald (NAI Commercial),
Jim McCaughan (FVREB), Rob Shaw (OMREB),
Kim Spencer (REBGV), Scott Wallace (KREB),
Dennis Wilson (FVREB), Edward Wilson (Lawson Lundell),
Larry Buttress (Council)*,
Leslie Howatt (Real Estate E&O Insurance Corporation)*,
Bruce Woolley (Stikeman Elliot LLP)*
*Indicates an individual’s role as a committee observer.
19
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
MEMBE R
CEO'S
REPORT
STRATEGIC
PLAN
BOA RDS
1
10
BCREA
STAFF
2015
PRESIDENT
EXECUTIVE
OFFICER
1
BC Northern Real Estate Board
David Black
Alexandra Goseltine
363 $
1,115,431
4,214
2
Chilliwack and District Real Estate Board
Travis Heppner
Steve Lerigny
277 $
1,054,366
3,138
3
Fraser Valley Real Estate Board
Jorda Maisey
Rob Philipp
2,934 $
11,581,896
20,055
4
Kamloops & District Real Estate Association Cyndi Crossley
Cathy Boer
258 $
840,149
2,574
5
Kootenay Real Estate Board
David Blishen
Marianne Bond
315 $
688,096
2,499
6
Okanagan Mainline Real Estate Board
Christopher Miller
Lynette Keyowski
1,095 $
3,262,249
7,988
7
Powell River Sunshine Coast Real Estate Board Neil Frost
Steve Lerigny
28 $
93,989
381
8
Real Estate Board of Greater Vancouver
Darcy McLeod
Brad Scott
12,402 $
38,951,370
43,145
9
South Okanagan Real Estate Board
Sally Kilburg
Dawn Lysholt
271 $
746,095
2,335
10
Vancouver Island Real Estate Board
Jason Finlayson
Bill Benoit
947 $
2,827,426
8,320
11
Victoria Real Estate Board
Guy Crozier
David Corey
1,234 $
4,104,078
7,868
20,124 $ 65,265,145
102,517
4
8
6
5
2
3
11
20
VOLUNTEERS &
HON. MEMBERS
BOARD
Total
7
FINANCIAL
STATEMENTS
9
NUMBER OF TOTAL MLS®
TOTAL MLS®
MEMBERS DOLLAR
UNIT SALES
VOLUME
SALES ($000s)
BOARD OF
DIRECTORS
PRESIDENT'S
REPORT
BCRE A
CEO'S
REPORT
STRATEGIC
PLAN
FINANCIAL
STATEMENTS
VOLUNTEERS &
HON. MEMBERS
MEMBER
BOARDS
S TA F F
ADMINISTRATION
EDUCATION
Robert Laing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chief Executive Officer
Marla Gerein . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Director of Education
Melinda Entwistle . . . . . . . . . . . . . . . . . . . . . . . . . . Chief Operating Officer
Karen Dawson . . . . . . . . . . . . . . . . . . . . . Operations Manager, Education
Deborah Nelson . . . . . . . . . . . . . . . . . . . . . . . . Director of Special Projects
Alex Suchy . . . . . . . . . . . . . . . . . . . . . . . Education Programming Manager
Diane Pfingsttag . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Executive Assistant
Monica Morris . . . . . . . . . . . Instructor and Learner Engagement Manager
Sandra Allen . . . . . . . . . . . . . . . . . . Program Assistant III, Applied Course
COMMUNICATIONS AND PUBLIC AFFAIRS
Damian Stathonikos . . . . . . Director of Communications and Public Affairs
Norma Miller . . . . . . . . . . . . . . . . . . . . Manager of Government Relations
Janie Cranfield . . . . . . . . . . . . . . . . . . . . . . . . . . . . Multimedia Coordinator
Lindsay Macmillan . . . . . . . . Communications Coordinator (Maternity Leave)
Katie Burrell . . . . . . . . . . . . . . Communications Coordinator (as of May 2015)
Bobbie Malo. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Office Assistant
Valerie Nelson . . . . . . . . . . . . . . . . . . . . . . . . . . Program Assistant III, PDP
Laura Homan . . . . . . . . . . . . . . . . . . . . . . . . . . . Education Media Assistant
Gosia Nowoszewska . . . . . . . . . . . Program and Administrative Assistant,
Education (Maternity Leave)
Bryndis Ogmundson . . . . . . . . . . . Program and Administrative Assistant,
Education (as of June 2015)
FINANCE
Corinne Caldwell. . . . . . . . . . . . . . . . Director of Finance and Administration
ECONOMICS
Cameron Muir . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chief Economist
Brendon Ogmundson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Economist
Ben Waterer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Finance Manager
Subhashni Prasad . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Finance Assistant
Angela Polymenakos . . . . . . . . . . . . . . Accounting & Payroll Administrator
TECHNOLOGY
Jonas Plouffe. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IT Manager
Anthony Jung . . . . . . . . . . . . . . . Senior Technical Analyst (as of October 2015)
21
1420 – 701 Georgia Street West
PO Box 10123, Pacific Centre
Vancouver, BC V7Y 1C6
Phone: 604.683.7702
Fax: 604.683.8601
Email: [email protected]
www.bcrea.bc.ca
This annual report is printed on Lenza PC100 paper, which is produced using biogas
and is processed chlorine-free. It is FSC-certified and contains 100% recycled fibre.

2015-2016 Annual Report - British Columbia Real Estate Association

Transcription

Similar documents

Royal LePage Dynamic Real Estate Brochure

TAKE THE REBOSA EQUALITY PLEDGE TODAY

Will Malizia - C3 Real Estate Solutions

before they were brokers

Tweet your support #RespectAllMusic

realtors on the rise

DIBELLA`S REAL ESTATE CRITERIA

BeauBox Property: River Palms Two Bedroom Condo

Two Harbors—Amoco BP Service Station Thriving Business and

131010000 Estate Riesling