Chair's message: REBGV develops new three-year strategic plan

While managing the disruption and uncertainty of 2020, our management team and Board of Directors have been working to design a future where you, your clients, and our association can thrive.

This work has produced a three-year plan for REBGV. Click here to view it.

This document envisions a future where:

• MLS® remains the central system for REALTORS® to compete while cooperating with each other on behalf of clients;
• Realtors understand and meet their responsibilities to our profession;
• REBGV adheres to rigorous business standards in pursuit of new opportunities, innovation, and continuous improvement;
• Members receive emerging business tools in a timely manner; and
• Where the public trusts and values Realtors and the MLS®.

We recently announced that we’ve formed a steering team with the Fraser Valley Real Estate Board to explore a potential amalgamation. This is the first major initiative to come from our new plan.

Before holding our first planning session, we surveyed all members and worked with staff and directors to assess the political, economic, social, technological, environmental and legal factors that affect our profession today and that could impede your success in the future.

Five strategic areas emerged as priorities from this research: technology, professionalism, MLS®, consumers, and business excellence.

From these priorities, we designed a series of actions we’ll take to achieve our goals.

As Herb Kelleher, a co-founder of Southwest Airlines, once said, “We have a strategic plan. It’s called doing things.”

In our plan, we commit to:

• Exploring a potential amalgamation with the Fraser Valley Board.
• Working with the other large boards in Canada to re-imagine and invest in cutting edge MLS® technology.
• Increasing investments in MLS® marketing.
• Implementing emerging technology solutions to enhance our MLS® suite of products and services available to you.
• Better analyzing MLS® data & demographics to give consumers improved market insights.
• Increasing trust between the public and the real estate profession.
• Calling for higher entrance standards into the profession.
• And more prominently advocating with government for the needs of homeowners, sellers and buyers.

This is an ambitious plan. To be successful, we’ll need your support. Progress will only come if we’re all engaged and committed to these goals.

We’re working on a new engagement approach that’ll give you more opportunities to have discussions with us, attend online forums, consume information in new formats, and hear from different voices on key topics.

On November 10 and 24, we’ll hold our annual fall member meetings. COVID restrictions mean that we can’t get together for breakfast like we normally do; however, we’ll optimize different technology platforms at the sessions to get your feedback and engage with you.

You can register for either of these sessions using the following links:

November 10

November 24

Be well and stay safe,

Colette Gerber
Chair
Real Estate Board of Greater Vancouver

Your most common election and candidate recommendation questions answered

As we prepare for our Board of Directors election at the beginning of 2021, we want to make sure you have all the information you need before you vote, including details about the Board Development Committee (BDC) and the candidate recommendation process.

This article provides 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:

• Randy Ryalls (Chair), Royal LePage Sterling Realty
• Jack Bernard, Rennie Marketing Systems
• Lynn Dequanne, RE/MAX Crest Realty
• Carsten Love, Coldwell Banker Love Realty
• Tina Mak, Coldwell Banker Westburn
• Ashley Smith, Vancouver Avenue Realty/Oakwyn Realty and REBGV past-Chair
• 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 2021 election:

• Knowledge of succession planning as REBGV’s CEO and other senior managers will retire in the next few years.  
• Financial acumen.
• Members who are either managing brokers or practice commercial real estate.
• 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.

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? Is everyone asked the same questions?

Normally the BDC holds candidate interviews at the REBGV office. With COVID concerns rising recently and to keep our candidates and committee members safe, interviews will be conducted over Zoom this year. Each candidate is 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. For example, a candidate may be asked to elaborate on his or her unique experience, training, or observations, i.e. to talk more about experiences or education listed on their resume.

For example, a candidate may have served on another board of directors and be questioned 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:

• Knowledge of succession planning as REBGV’s CEO and other managers will retire in the next few years.
• Financial acumen.
• Members who are either managing brokers or practice commercial real estate.
• 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.

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.

Introducing the 2020 REALTORS Care® Blanket Charity Drive!

We're adapting our traditional REALTORS Care® Blanket Drive this year to an online fundraising campaign. We’re calling it the 2020 REALTORS Care® Blanket Charity Drive!

During the week of November 23-27, support those most in need by making a donation. The money will go to our long-time REALTORS Care® partner charities.

Both individual REALTORS® and offices will be able to donate. When you support the campaign, you could earn exclusive swag like a REALTORS Care® mask and a unique digital badge to share on your websites and in your social media feeds.

Everything's changed this year because of COVID-19. The pandemic has been particularly hard on the most vulnerable people in our communities. While the charities that we work with for the REALTORS Care® Blanket Drive told us that they won’t accept clothing donations this year because of the risk of spreading illness, we knew that our Realtor community still wanted to help.

That’s why we worked with our member volunteers to develop this year’s online charity drive.

We hope you’ll consider donating and urging your colleagues to do the same!

We’re finalizing the details and will share more information about this year’s special edition of our REALTORS Care® Blanket Charity Drive in the coming weeks. Stay tuned!

You can only do what you can do

We’re not miracle workers, although I often suspect some of our clients expect us to be. And that’s fine. It’s our job to help them grasp reality while, at the same time, we get them as close as possible to a real estate solution they’re happy with.

A big part of this is getting them the information they need to make an informed decision while, of course, saving them from themselves. What do I mean by this?

Sometimes we’re our own worst enemies. We let our ego or temper get in the way of making a good decision. We’ve all been there either personally or peripherally. When we, for example, watch a client draw a line in the sand by walking away from a perfectly good deal in a fit of temper.

If we’re on our game, we systematically remove as many decision-making roadblocks as possible. I’m channelling professional selling skills courses as I write this, which teach us that our goal is to remove someone’s fear of making a bad decision so they can make a good one. The fear of making a mistake usually leads to clients saying no before they say yes. If you can remove a client’s fear of making a mistake, all that’s left for them to do is to say yes.

But that’s not what this column is about. While getting your clients comfortable enough to say yes is a big part of what we do, we should never forget that smoke-and-mirror techniques don’t sell properties. Facts and emotion do. We’ve dealt with the emotion bit already. What’s left is getting our clients the right amount of information so they can make a decision.

What’s the right amount? In an agency course, the instructor will tell you it’s an entire solar system’s worth of facts. Information without limit.

Sometimes this is good. Other times, it isn’t.

Some clients thrive on facts. Others get confused by large amounts of data, which can make them even more reluctant to make a decision. In a sales seminar you’ll be told to give a Goldilocks amount of information. How much is that? Enough. A word my father used to say is not well understood by humanity.

A long-time Maple Ridge member, for whom I have a lot of affection, phoned me this week, saying he was unable to get property information he considers vital for buyers to know. “What information?” you may be thinking. To start, he couldn’t get the City of Maple Ridge’s dossier on the property he’d just listed. Must we search, for example, city property records for the listings we take and the properties we sell? I’ve never seen a Council or Board edict requiring this. But if you care about risk management, it’s a good idea. Remember, “should” doesn’t mean “must.” That’s a pity because we tend to read “should” in regulators’ language. If you’re asking me, when it says “should,” interpret this as meaning must.

Getting back to my colleague, a fine fellow with whom I served on the Board Presidential Agency Task Force in the early ’90s. He phoned to vent his frustration with the good folks at Maple Ridge City Hall who wouldn’t be able to give him a complete file about his listing for about three weeks, despite his requesting a search of the file be done at the time of listing. Apparently, basic information is available fairly quickly. But there’s also a motherlode of information saved in microfiche files, which take time to locate because of COVID-reduced staffing at city hall. This all means there could be gaps in what you and your seller know about the property you’ve just listed. Buyer’s agents who are on the ball may also want to know this information so they can remove some of their buyer’s decision-making roadblocks.

Why might this information be important? How would you like to sell a buyer a Maple Ridge charmer only to find it has outstanding zoning or bylaw infractions? Or renovations made without a permit? You probably wouldn’t. If the information simply isn’t available, this is what you disclose to the buyer’s agent. It’s up to them to decide what they and their buyers want to do about it. The options include taking a pass on the property, making a subject offer on the property, or buying it without subjects and hoping for the best.

This last one is risky. It’s all fine until it isn’t.

If your buyer client accused you of selling them a place with unresolved permit violations, would you be able to provide a copy of the text or email thread where you advised them they were taking a chance, and they confirmed they were instructing you to go ahead?

I’ve written about this before, most recently, I think, in the “Manage your risk and hope for the best” column.

You can only do what you can do. Tell your clients. Do the best you can. Make notes. Verify information. After all that’s been done, let them know there are some unknowns and ask if they still want to go ahead with the deal. It’s your client’s job to make this decision. It’s our job to follow their instructions (while meeting the Rules of Cooperation) by clearing away all the underbrush so they can see the forest clearly. (Watch a rather famous former US Foreign Secretary Donald Rumsfeld blather on about “unknowns” and “known unknowns.”)

Top Tip

I sometimes hear from members saying they can’t find one of the standard clauses in WEBForms. Assuming you’ve been in touch with our help desk and/or your managing broker, who may know the clause you want verbatim, there’s another place you can go—the Real Estate Council’s website. Go to www.recbc.ca, select the menu (upper left hand corner) and choose “Professionals,” then, “Knowledge Base,” and then input “Clauses” in the search box. The second search result (the one in the blue box saying “Clauses”) is the one you want. Click on “Read More” and you will be taken to an expandable list of standard clauses. Now all you need to do is to find someone willing to sign a contract that has the standard clause you’ve just located.

Election forum, ending no pets rules, new federal COVID programs

 

Our election forum focused on housing 

The housing platforms of the three main political parties running in the October 24 provincial election were the focus at our recent election forum held on October 22.  Watch a recording of this event to learn what the political parties' platforms were heading into last saturday's vote. 

Read more. 

Vancouver council passes motion to end "no pets" rental rules  

Vancouver council has passed a motion to end “no pet” restrictions in rental housing.  But Vancouver has no jurisdiction here and must lobby, and convince, the province. 

Read more. 

COVID-19 – new and improved federal programs  

The federal government has passed Bill C-4, the COVID response bill, to update programs and services during the pandemic.  

Read more.  

Congratulations to our 2020 scholarship recipients!

We've awarded the children of five members with post-secondary entrance scholarships.

Each recipient received $1,500 toward this year’s education costs. The scholarships are based on performance in academics, athletics, fine arts, and community service.

This year’s recipients are:

Allison Kuzyk,
daughter of Barbara Tully, Sutton Group West Coast Realty 

 

 

 

 

Jennifer Nguyen,
daughter of Jason Nguyen, Magsen Realty Inc.

 

 

 

 

Benjamin Shaw,
son of William Shaw, Royal Pacific Realty Corp.

 

 

 

 

Jacqueline Wong,
daughter of Elise Yu, Multiple Realty Ltd.

 

 

 

 

Sam Zheng,
son of Morning Yu, LeHomes Realty First

 

 

 

 

Good luck to our recipients, and to everyone who applied!