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Ginger Harper, Your Southport~Oak Island Agent~Brunswick County! (Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team)

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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    Wow!  Expenses greater than income, or what?  How will that Board function if they go Bankrupt?  Is there some other Board that you can merge with or be absorbed by?

    I would call a meeting of all of the Brokers and leading Agents in your area to discuss it.  They should not allow the current Board of Directors or Officers to have any supervisory role in that meeting.

Apr 05, 2016 12:24 PM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

That is a major problem, Ginger. I wouldn't know where to begin to answer that question. We had that issue locally here in South Carolina with the Piedmont Regional Realtor Association and most of its membership transferred to Carolina Regional Realtor Association when they hiked dues to some unsustainable amount. At a minimum, I would do what Fred Griffin suggested.

Apr 05, 2016 09:51 PM
Rainer
97,816
Carol Wilson
Your $imple Home - Toronto, ON

If you wish to see change that leads to success instead of failure, someone needs to keep their eye on designing a GOOD PROCESS to follow.  Get a small (4-6), committed, effective group together to design a thorough, well-thought-out process (and you've had some great suggestions for good process in these comments) and then sell that process to the greater community of that office.  Give the community a chance to have some input (it doesn't have to be for long), because they may have some good suggestions for even better process ... and then work hard to follow that process.

In my experience, the end result from following good process is always more acceptable to the wider community.  Even if people didn't get the exact thing they wanted, they can see why and buy into the result because it wasn't about who knew whom or what strings they pulled.  Process is neutral.

Transparency of the final process is very important, and the group that designs it is as important as the new BOD.  It is unlikely that the same people should be on both the process-design team and the first new BOD, for conflict of interest reasons.  Let the (new) interim board be a different group, and those on the process-designing team can join the board in a later round, if interested.  Perhaps the new BOD could include effective members from neighbouring boards (doing double duty), to help it function well.  (I'm not sure whether that is a good idea or not, because I'm not a realtor.  If it isn't, perhaps retired board members could serve.)

Recommended:  The process-design team needs to have personalities that don't need to take a front seat, that are able to work well together, and to think things through.  In other words, you need at least one, preferably two people in the group who love process, because they will think about how the group is working and help you keep your work on track.  Also, the group needs to design a process that includes a plan for any important things going wrong.  In my personal life, in a resolution proposal I included a plan for what we would do if we had an unresolvable difference of opinion and got all parties to agree to it in advance:  it was a dispute resolution process within the resolution process.  We actually used it once, and it worked very well...because it had been agreed to before people had become angry.

Lastly, it is very, very important to find out what went wrong and why.  Others have already suggested an audit.  Money going wrong can undermine so many good things.  Don't underestimate what impact that can have.  Any new group will need effective process from the beginning to address those problems and avoid a repeat.  And wonderfully, process is a very good way to get balkers to change.  Process is neutral; it applies to everyone.  It isn't favouritism, or picking on me, etc.

Be encouraged: you have a great challenge ahead, yet it is a big learning opportunity for everyone, much good and much self-respect can come out of it all, if you choose that it be so.  I'm rooting for you, and for really good process!

Apr 05, 2016 02:08 PM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

The Board should merge with a successful board.

Apr 05, 2016 12:42 PM
Rainmaker
556,890
DEANNA C. SMITH CERTIFIED MOBILE NOTARY
Certified Mobile Notary Signing Agent - Smith Mountain Lake, VA
Highest Ranked Certified Mobile Notary in Virginia

I agree with my good friend , Fred Griffin.   Those of you who are in the membership need to step up and eliminate the mismanagement that has lead to this situation !

There are actions that can be taken but by all means, they need to be taken sooner, rather than later !   Call for the meeting NOW ! 

Apr 05, 2016 03:53 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Ginger,

Unthinkable and I agree with Thomas J. Nelson, Realtor .  And audit!  A

Apr 05, 2016 02:01 PM
Rainmaker
1,052,211
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Your BOD had one job: to manage the business of the Association. If they can't handle that . . . hire an accounting firm to audit, cut them all loose  and the brokers need to all take over and clean up the mess. Our Association went several YEARS without an EO and just had someone consult from a distance . . . it can be done.

Apr 05, 2016 12:29 PM
Rainmaker
1,543,823
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

An audit may be a good idea...where's the $$$?

Apr 05, 2016 12:25 PM
Rainmaker
953,717
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Start a new board with PROPER management unless a fix and/or merge is possible. It's just the board that is going bankrupt, business will continue in one way or another and it may just cost a little more.

Apr 05, 2016 12:09 PM
Rainmaker
628,914
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Sounds like you have a serious Leadership problem locally , I would get a few of your local Association Broker owners / past leadership together to address the issue

Apr 05, 2016 11:48 AM
Rainmaker
4,572,289
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

I'm sorry to hear this --- legal counsel is likely necessary as well as a merger with a more successful and financially sound association.  

Apr 05, 2016 07:50 PM
Rainmaker
911,338
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Not enough members? Too high of salaries? Mismanagement of funds? Hopefully they can restructure under bankruptcy and bounce back.

 

Apr 05, 2016 06:56 PM
Rainmaker
2,538,633
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Ginger. Where is the money go? An audit may be necessary.

Apr 05, 2016 06:12 PM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Ginger Harper has this been known as a problem for awhile? I would think the BOD would have addressed it with higher dues or some emergency action. Our Board of Realtors publishes its financials annually for the membership and that should be a common practice for a corporate entity. I hope things work out for you!

Apr 05, 2016 06:05 PM
Rainmaker
1,090,922
Diana Zaccaro Broker Associate
ZOOM Realty Group - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

That is terrible news...sorry to hear this. I don't know what individual Realtors can do to protect themselves since we work under our brokers. You have some good suggestions on how to proceed but I would also suggest that your broker have an office meeting with all the agents to address their concerns and outline anything you all can do to protect your interests.

A consult with the Association attorney might be a good idea to learn what rights the agents and brokers have. Best of luck, let us know how it turns out.

 

Apr 05, 2016 03:27 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Ginger Harper - never heard of! Some concerns for why this should have happened at all in first place.

Apr 05, 2016 03:07 PM
Ambassador
3,164,294
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I can't even imagine.  Our board of directors budgets based on income.  If we don't take it in, we don't spend it.

Apr 05, 2016 01:33 PM
Ambassador
3,727,873
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

That's not good!  Does anyone know what's happening?  Is it declining membership or something else?  Sounds like you might wind up merging with another associaiton.

Apr 05, 2016 12:39 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

What Fred Griffin said...

Apr 05, 2016 11:00 PM
Rainmaker
1,325,299
Donald Urschalitz
Lubeck Realty Group - Jupiter, FL
P.A. Realtor ABR RSPS North Palm Beach County

Merge is just about the only option.

Apr 05, 2016 09:23 PM
Rainmaker
420,985
Christopher Pagli
William Raveis Legends Realty Group - Tarrytown, NY
"I Stay Open Until You Close"

I agree with the audit and not over spending.

Apr 05, 2016 08:56 PM
Rainmaker
883,732
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

Seems rather odd they would be bankrupt. What are they spending money on? How much are your dues? Who is running the board? Years and years ago we were in the red from a previous board who liked to spend money... we did a fund raiser and got back in good standing... now we do that same fund raiser every year at our Christmas party and the proceeds go to 3 Non profits...Hospice, Homer Food Bank, Anchor Point Food Bank and we give 3 $1,000 scholarships each year.  There is no reason to not take charge and make a positive move forward for your board and community

Apr 05, 2016 06:09 PM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Call me. First of all I will ask why. I have business meetings in the morning for my local board, but I will be available later in the afternoon. Keep in mind the time change. 

Apr 05, 2016 01:26 PM
Rainmaker
1,683,912
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

That's scary, maybe they need a board member change.

Apr 05, 2016 12:59 PM
Rainmaker
1,239,901
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

In our area, we have 6 associations.  If five evaporate I got another one.... In your case consider the closest association.

Apr 05, 2016 12:38 PM
Ambassador
2,178,603
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Elect responsible leadership who are willing to stand up to and educate the membership, who are mostly apathetic, clueless and selfish.  I'm often apalled at REALTORS who say they get nothing for their membership dollars. They are clueless and do nothing to educate themselves on the issues that the local, state, and national associations are advocating on their behalf.

Apr 05, 2016 12:00 PM
Rainmaker
1,084,061
Ginger Harper
Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team - Southport, NC
Your Southport~Oak Island Agent~Brunswick County!

The board voted to build a larger facility that had ball rooms in it that they could rent out.  Foolish...foolish...foolish...

WE were going into debt each month after the building was built in 2007..

Just found out about this last Thursday.  Had no clue

 

Apr 07, 2016 05:27 AM
Rainmaker
5,868,554
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Some of our Boards in the Denver metro area were experiencing some financial issues, and many merged.

Apr 06, 2016 10:57 PM
Ambassador
6,393,609
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Just wait, after the dust clears a new assn will replace this one.

Apr 06, 2016 03:32 PM
Rainmaker
2,707,721
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

First step is an audit to discover if the funds are poorly managed (or missing)...hopefully there has been no embezzlement.

Apr 06, 2016 02:36 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I agree with many of the others. For one thing didn't someone see this coming? What are your Directors and Leadership doing about it? This kindof thing doesn't happen overnight. Did you have an occurence that caused this? Reach out to other Boards that are close by and look for a good fit to merge.

Apr 06, 2016 05:53 AM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Guess it might be time to reassess the competency of the Board. Sounds like the Federal Government accounting operating rules are flawed when adopted by private business?

Apr 06, 2016 03:47 AM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Change boards quick!

Apr 06, 2016 03:38 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

Minimize your financial exposure to the board.  If you have some position in the board or some type of relationship with the board, you may need to seek legal advice how to minimize any potential issues.

You may also need to find another board to provide your MLS, education and other services you may require.

Apr 06, 2016 01:37 AM
Rainmaker
4,882,355
Richard Weeks
Dallas, TX
REALTOR®, Broker

Sounds to me like poor management.  Maybe a bigger board in your area will take over.

Apr 06, 2016 01:15 AM
Rainmaker
582,106
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

Boards that cannot survive or make budget should be absorbed into other larger, more stable ones.

Apr 06, 2016 12:48 AM
Rainmaker
4,936,705
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Sorry to heard that.  I hope you have another board close by you can join.

Apr 06, 2016 12:22 AM
Rainmaker
900,128
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Make sure that no-one is misappropriating the high dues you are payin in.

Apr 06, 2016 12:12 AM
Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Business leakage is a call to action. Many fail to address this in its time. The cycle has run its course. Begin a new cycle but with changes or insanity lurks

Apr 05, 2016 11:55 PM
Rainmaker
7,836,419
Roy Kelley
Retired - Gaithersburg, MD

Become an advocate for new leadership.

Many boards have merged for more efficient operations.

Apr 05, 2016 11:24 PM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

Our board just merged with two other's;instead of seven counties it is up to twelve.

Apr 05, 2016 10:53 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Prepare for merge.

Learn how to sell without an MLS.

Your franchise has great distribution so exposure will be unaffected.

You may get to find out how useless the MLS really is for the agent but is of great value for brokers and franchises who feel the need to restrict agent options.

 

Apr 05, 2016 10:51 PM
Rainmaker
292,685
Jack Lewitz
Exit Strategy Realty - Evanston, IL

I like Carol Wilson's answer. Joining another board is a simple solution and forming a new board can be time consuming and it may not solve the problem . An audit is sound advise  to see where the money went.

Apr 05, 2016 10:22 PM
Rainmaker
5,216,409
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Have to agree with Michael Jacobs!

Apr 05, 2016 10:19 PM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck

Apr 05, 2016 09:49 PM
Rainmaker
444,170
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

Wow, I had no idea that was even possible!  There is income, so there must also be debt?  Did the Board build itself a fancier building than it could afford?  Or hire more staff than it could afford?  Or hold its meetings at a resort in Aruba?   Hopefully steps can be taken to straighten things out.

Apr 05, 2016 09:24 PM