New and revised standard forms, schedules, and clauses coming November 24

The BC Real Estate Association (BCREA) is launching 11 new standard forms, along with new and revised schedules and clauses on November 24.

This latest update will:

• Maintain alignment with regulatory and practice requirements, including the real estate regulator’s recent name change and references to the Real Estate Services Rules and renumbering.
• Incorporate requests from members of the profession and associated professions, such as changes to the Contract of Purchase and Sale of a Manufactured Home and the Property Disclosure Statement as they pertain to the Water Sustainability Act.
• Bring greater clarity and uniformity to some of the standard contract terms across various forms.
• Redesign the layout of the Notice of Condition Waiver/Declaration of Fulfillment, Contract of Purchase and Sale, and Property Disclosure Statement forms.

You can find out more about these revisions by reading BCREA’s pre-launch package.

Register for BCREA’s standard forms webinar

To help you understand the changes, BCREA is holding a free post-launch webinar on December 2 where you can ask questions about any of the forms, clauses, or schedules.

The webinar will be hosted by Syntyche Smith, BCREA standard forms project coordinator, and will include Jamie Matthews, BCREA standard forms legal counsel, and Jennifer Lynch, BCREA’s professional services manager. Register today.

Donate to the REALTORS Care® Blanket Drive before it closes next week!

The 27th annual REALTORS Care® Blanket Drive is on now! Make your donation to our online fundraiser at one of our drop-off locations before the Blanket Drive closes on Monday, November 22.

Help your clients downsize and help those in need

If you’re working with clients who are downsizing, let them know how the REALTORS Care® Blanket Drive keeps their donations of gently used clothing, jackets, and blankets in their communities. The items we’re looking for are:

• Warm clothing
  • Coats
  • Sweaters
  • Gloves, hats, scarves
• Blankets, sleeping bags
• New socks
• New underwear

You can also direct them to the closest drop-off location—check out the list.

Cash donations

You and your clients can also make a cash donation online. Even with some COVID-19 restrictions easing, the pandemic continues to adversely affect our partner charities. Cash donations help them direct resources to their most urgent needs.

Donate online here.

Share your Blanket Drive stories

Do you have photos or videos of you and your colleagues participating in the Blanket Drive collecting, sorting, or dropping off donations? Don’t be shy—post them to your social media accounts, tag us (@REBGV) and use our hashtags:

#realtorscare #blanketdrive #realtorscareblanketdrive

You’ll also find shareable social media content on our Blanket Drive Facebook Page. Check it out today!

Your REBGV election questions answered in our new FAQ

Ahead of the 2022 REBGV Board of Directors election, we want to make sure you have all the information you need about the Board Development Committee (BDC) and the candidate recommendation process that your association follows.

We’ve developed a new road map to help you understand the process the BDC follows year-round to identify qualified candidates to run in the REBGV election.

Click on the image below to expand and review the BDC Roadmap.

 

 

 

 

 

 

 

 

 

 

 

We’ve also compiled answers to some of your most common questions about our election process in recent years.

About the Board Development Committee

What’s the BDC’s mandate?

The Board Development Committee (BDC) has a mandate to guide a year-round process to ensure there are always candidates with the necessary skills, experience, competence, character, and commitment for members to choose from in REBGV’s annual Board of Directors election. The BDC also recommends candidates for the elections.

Who selects the BDC?

The Board of Directors appoints members to the BDC. The Board of Directors doesn’t participate in selecting, meeting, interviewing or recommending potential election candidates. The past-Chair of the Board of Directors participates in BDC meetings throughout the year to help increase the committee’s understanding of governance at REBGV, but the past-Chair doesn’t participate in the recommendation process.

Who is on the BDC?

The BDC is comprised of members of the REBGV. The current BDC members are:

• Jack Bernard (Chair), Rennie Marketing Systems
• Lynn Dequanne, RE/MAX Crest Realty
• Colette Gerber, Heller Murch Realty and REBGV past-Chair
• Carsten Love, Macdonald Realty
• Tina Mak, Macdonald Realty
• Terri Smith, RE/MAX LifeStyles Realty
• Michael Uy, Oakwyn Realty
• Doug Williams, RE/MAX Crest Realty (Van)

REBGV COO Eileen Day supports the committee throughout the year.

What makes the BDC qualified to make these recommendations?

The BDC is comprised of experienced and respected members of the real estate profession. BDC members are offered the opportunity to take governance training so they understand the work a Board of Directors does, i.e. oversight of strategy, financials, risk management, CEO performance and CEO succession. The BDC receives direction from the REBGV Board of Directors as to the skills and competencies needed at any given time. They meet with the Board’s elected Officers and receive regular input from the past-Chair to ensure they have current information as to needed competencies beyond governance knowledge and experience. They’re also instructed to search for candidates who have the integrity, characteristics and emotional intelligence (EQ) expected of leaders.

How it works

How does the recommendation process work?

This is a year-round process that begins with determining the skills and experience needed at the table. To do this, the BDC reviews a skills matrix that identifies the benchmark strengths at the current board table and a summary of the Board of Directors’ last peer review process. The team also meets with REBGV’s elected Officers to gain further insight as to the competencies the Board of Directors believes it needs for the near future.

The BDC then calls out to all members for nominations, via REBGV communication vehicles, word-of-mouth, and members who step forward to express an interest in REBGV governance. Those who decide to run are asked to:

• Complete an enhanced nomination form;
• Submit a resume;
• Complete a skills profile;
• Attend an orientation;
• Meet with a BDC interview panel;
• Provide references; and
• Be accountable to a Code of Conduct during elections.

After reviewing each candidate’s qualifications, conducting interviews, and checking references, the BDC makes recommendations. The names of the recommended candidates are published on the election platform.

Can you share candidate evaluations?

No. Individual privacy is paramount in this process. Just as the results of job interviews aren’t made public, the evaluations of the candidates are not published for privacy reasons. Further, publishing such information could be a deterrent to members who might otherwise consider running in the elections.

What criteria does the BDC use to recommend candidates?

The BDC bases its decisions on a variety of factors. They’re seeking candidates with the skills, knowledge and experience that will strengthen and diversify the talent around the Board of Directors’ table.

Every year, the BDC reviews a skills matrix that identifies the benchmark strengths at the current board table and a summary of the Board of Directors’ last peer review process to understand what qualifications are most needed around the board table today.

Based on this work, candidates with the following experience, knowledge, and characteristics have been prioritized for the 2022 election:

• Members with experience running a business, including business acumen and strategy. This includes Managing Brokers.
• A balance of female and male directors who come from diverse ethnic backgrounds and cultures.
• Diversity of thought and high emotional intelligence, which is a characteristic necessary for the teamwork that helps the directorate innovate and responsibly lead our organization.
• A service-first attitude where the desire to serve on the Board isn’t driven by self-interest.
• Experience in governance with other organizations.

What does the BDC do to evaluate candidates beyond reading their bios?

A candidate’s biographical info is one of many elements that go into an evaluation. The BDC interviews each candidate. Reference checks are conducted for short-listed candidates as part of the evaluation process. Candidates also complete a skills profile that goes into their evaluation.

Beyond the information that candidates submit, the committee also evaluates based on competencies, character, and commitment. Competencies relating to business experience, strategic thinking, organizational skills, and the ability to work with other people are preferred. Examples of competence might include experience running a business and managing people, previous work experience in a legal, accounting, or technology field, or experience with regulatory bodies.

Character may be difficult to judge but is fundamentally important to a high-functioning and effective Board of Directors. The BDC evaluates a candidate’s core values for strengths such as courage, integrity, humility, patience, and ability to collaborate.

For commitment, the BDC evaluates a candidate’s track record of following through with her or his responsibilities.

How are candidate interviews conducted?

Interviews are conducted by a panel of BDC members. Candidates are provided with some baseline interview topics ahead of time, along with background reading materials like REBGV’s strategic plan.

During the interview, the BDC assesses each candidate’s preparation and depth of knowledge on leadership, governance, and strategic issues facing REBGV.

Candidate responses guide the flow of the conversation. That may lead to diverging conversation topics and questions between candidates. For example, a candidate may have served on another board of directors and be asked to elaborate about that experience. A candidate without that experience would not be asked those same questions.

Why did you recommend the candidates you did?

Candidates who receive a recommendation possess the qualifications and characteristics identified as being most needed at the board table.

For this year, candidates are more likely to be recommended if they have the following:

• Members with experience running a business, including business acumen and strategy. This includes Managing Brokers.
• A balance of female and male directors who come from diverse ethnic backgrounds and cultures.
• Diversity of thought and high emotional intelligence, which is a characteristic necessary for the teamwork that helps the directorate innovate and responsibly lead our organization.
• A service-first attitude where the desire to serve on the Board isn’t driven by self-interest.
• Experience in governance with other organizations.

What does it say about the process if an incumbent director isn’t recommended?

Every candidate, incumbent or not, is subject to the same evaluation process. If an incumbent director isn’t recommended, it’s because his or her skill set, experience or character don’t align, relative to other candidates, with the criteria identified as most needed at the current board table.

Fairness

Why don’t you have candidates from more diverse backgrounds running and represented on the board of directors?

We agree that broad and diverse perspectives strengthen a board of directors. We strongly encourage members of all ethnicities, genders, and backgrounds to consider running if they think they have what it takes to make an effective director.

At the end of the day, the BDC doesn’t determine who decides to run in an election. They only evaluate candidates who choose to put themselves forward for consideration.

I’ve heard of members who won’t vote for any recommended candidates – what do you think about that?

Recommendations are the result of a rigorous process intended to surface the most qualified candidates in the election. We hope you’ll give recommended candidates your consideration, but you’re free to vote for whomever you choose.

Why don’t you only allow recommended candidates to run?

Our process is modeled to reflect best practices in governance for an organization of our size and makeup. Some organizations, such as the BC Real Estate Association, don’t hold elections and appoint directors instead. This isn’t part of our governance structure at the moment, but our governance committee is always assessing emerging best practices to identify potential governance improvements to bring to the membership for approval.

I see that a candidate with an impressive resume wasn’t recommended – how does this happen?

The experience and qualifications included on someone’s resume aren’t the only factors considered. Temperament, track record, emotional intelligence, discussions with references, and other variables are all assessed through this process. Each candidate is also evaluated relative to the qualifications and characteristics identified as being most needed to strengthen and diversify the Board of Directors for the coming term.

Is the recommendation process undemocratic?

The process undertaken by the BDC is not political; it’s a process designed to help members know which candidates have the competence, character and commitment necessary to lead a large professional organization like REBGV. Nor is this process like a government election whereby constituents choose a person to specifically represent them in a political environment. This is about ensuring that your association always has highly qualified people doing the governance oversight work effectively on behalf of members.

Sticks and stones

You may remember the childhood taunt, “Sticks and stones may break my bones, but words can never hurt me.” It’s a retort mums and dads, in times gone by, used to comfort their children when they came home from school crying after a classmate had said something unkind about them (often accompanied by “na, na-na, na na”).

My dad wasn’t onboard with that. He’d just tell me to punch their lights out. And I would have, if I hadn’t been so very small; everyone was so much bigger. I had to suck it up while figuratively punching their lights out.

Recently, I was thinking about the saying as I droned on about ethics to a group of slumbering members. One of my slides shows a news article describing the $250,000 damages awarded to an estranged lover, whose ex said some really nasty things about them on social media, a place where some believe the rules are different. Spoiler alert: They’re not.

We all say things we shouldn’t—perhaps now more than ever. Or at least we think them. That COVID mask comes in handy sometimes. I find myself muttering all sorts of things that would cause a kerfuffle if I could be heard from behind my mask. (A friend of mine has taken to sticking their tongue out at people from behind their mask—a delicious thought to yours truly.) “Inappropriate” thoughts arrive unbidden in our minds. And, if the mood and situation are right, out they may come. With “inappropriate” now encompassing a much broader range than in the past, along with much more severe potential consequences, it’s just best to keep that inner voice inside and not express uncomplimentary opinions about others in public.

Back to our estranged spouse with the big damages bill. Imagine if that had been you, and the estranged spouse had been a client or colleague.

Did you know that your errors and omissions (E&O) insurance excludes these types of claims?  You’d be defending yourself with your own nickel with the added bonus of no one picking up the tab if you were found liable. (Check out your policy and its exclusions.)

The legal system isn’t the only place we can bear the consequences of something we’ve said. BCFSA has general “good conduct” standards that may apply to the spoken or written word. I think most of us would prefer to stay out of its clutches, don’t you?

Your Professional Conduct Committee also has potent tools at its disposal should another member say you’ve discredited them (or their brokerage). Check out REALTOR® Code of Ethics, Article 19 – Discrediting another Registrant and Rules of Cooperation, Rule 6.08 b), below.

REALTOR® Code of Ethics, Article 19 - Discrediting another Registrant

Article: The REALTOR shall never publicly discredit any other Registrant. If the REALTORs opinion is sought, it should be rendered with strict professional integrity and courtesy.

Interpretation: 19.1 The REALTOR shall not comment in a derogatory manner in any communication or medium, including social media, as to the capacity, integrity, or competence of any other Registrant.

Rules of Cooperation, Rule 6.08 Professional Conduct

a) A Member shall not conduct himself nor permit his employees to conduct themselves in such a manner as to prejudice his reputation or the reputation of the Board.

b) A Member shall not injure falsely or maliciously, directly or indirectly, the reputation, prospects or business of another Member.

The Professional Conduct Committee has complete discretion to decide whether your words have breached these standards. And it doesn’t distinguish between words said in the newspaper or through a megaphone or on social media (even in a so-called closed group).

Now, more than ever, it’s easy to take a screen shot of your post. Or to record what you’ve said. So, while sticks and stone may still break our bones, our words do have consequences that can be just as painful.

Book me as your guest speaker

Brokers, I’m available (with notice) to attend your brokerage sales meetings. If you’re interested in in hearing from this old war horse, email kspencer@rebgv.org or phone me at 604-730-3071.