GMAR BOARD OF DIRECTORSTHURSDAY, NOVEMBER 19, 2015 • 12:00 NOON

GMAR HEADQUARTERS

MEETING AGENDA1. Welcome & Introductions

2. Consent Agenda P 2 Approval

3. ReportsA. Chairwoman

B. Treasurer1) October 2015 Financials

C. President

D. Departments1) Government Affairs2) Promotions3) Professional Standards

E. MLS

P 9

P 12

Information

Approval

Approval

InformationInformationInformation

Information

5 Min

5 Min

20 Min

10 Min5 Min

10 Min

10 Min

4. Old Business A. None

5. New BusinessA. 2016 Executive Committee Election

1) Chair-Elect2) Treasurer3) Corporate Secretary

B. Youth Foundation Officer Election

6. Adjourn 1:30 PM

Important Upcoming Dates:

GMAR Holiday Party – December 2nd – Potawatomi Hotel & CasinoWRA Management Conference – December 10th – Milwaukee Marriott West, Waukesha

* Indicates information will be available at the Directors meeting. Updated: 5/7/2023 2:45 PM

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GMAR BOARD OF DIRECTORSCONSENT AGENDA

1. It is moved, seconded and carried to approve the minutes of the Board of Directors meeting from September 17, 2015. p. 3

2. It is moved, seconded and carried to approve of the 93 new members who have applied to become members of the GMAR and paid the appropriate fees. p. 7

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GREATER MILWAUKEE ASSOCIATION OF REALTORS®BOARD OF DIRECTORS MEETING MINUTESThursday, September 17, 2015 • 12:00 PM

GMAR Headquarters

1. Call to Order Chairman Betsy Head called the meeting to order at 12:10 PM with a quorum present for the transaction of business.

Present: Betsy Head, Chairwoman; Roxanne Platz, Chair-Elect; Mike Kollmansberger, Treasurer; Vickie Kelsall, Corporate Secretary; Bob Larson, Past Chair; Joe Horning, Cindy Fleming, Kaye Erdman, Arthur Mays, Amy Curler, Dale Marciniak, Tom Sykora, Jennifer Burns, Kathy Martello

Staff Present: Mike Ruzicka, President; Scott Bush, VP Operations; Marne Stuck, GAD, Caitlin McCrory, Communications Director; Chris Carrillo, CEO, Metro,, MLS

Excused: Joan Read, Kel Svoboda

2. Guest: David Rouse, WHEDA. Mr. Rouse provided an overview of the new and continuing products in WHEDA’s arsenal.

3. Consent AgendaA. Minutes of July 16th, 2015 Board of Directors Meeting.

B. New Member Report (93 new members) M/S/C to approve Consent Agenda.

4. ReportsA. Chairwoman’s Report

Mrs. Head commented that the WRA Convention was well attended and had a multitude of very good speakers and educational programs for REALTORS® and Affiliate members.

B. Treasurer’s Report1) Finances – Mike Kollmansberger reviewed the GMAR’s May 2015 finances.

Statement of Financial Position – As of August 31, 2015, GMAR had $1,019,199 in Cash & Investment Balances, down $95,227 compared to last year. Accounts receivable were up $22,052 compared to last year due to amounts owed from the MLS for the public awareness campaign. Prepaid expenses were down $5,288 compared to 2014. Total Assets were $2,608,189 which is down $78,616 compared to 2014.

On the Liability side, accounts payable were up $5,245 compared to last year due to accrued payroll taxes; accrued vacation expenses were up $3,992; the long-term mortgage liability was down $31,643 which is the amount of principal to be paid on the mortgage in 2015. Overall, Total Liabilities were $435,284 which is down $68,136 compared to 2014.

For the month ending August 31, 2015, GMAR had Net Income of $310,971, up $16,444 from last year. Overall, Total Net Assets were $2,172,905; $10,480 lower than the same point in 2014.

Statement of Activities – Membership: Through August 2015, $831,533 was collected in dues. We budgeted for a 90% renewal. Actual renewal was 87%. Last year at the end of August, we had collected $750,786 in dues so we are $80,747 ahead of last year at the same time. Although GMAR was down in R/DR renewals, the dollar amount was made up

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in reinstatement fees and late fees paid by members. New member budget for 2015: 464 REALTORS®, 50 DRs and 20 Affiliates. Through August, actual new members: 422 REALTORS®, 42 DRs and 10 Affiliates.

Promotions: Through August 31, Home and Garden Show income is $862,426 and expenses are $620,569. Current net income is $241,857. The revised budgeted net income for the Home and Garden Show is $260,004. Products (Wisconsin Real Estate Supply): Product sales through August 2015 were $4,451 lower than the sales through August 2014. Total product sales through August 2015 were $53,690. Total revised budgeted product sales for 2015 is $87,400.

The Leadership section includes expenditures for meetings, committees, officer expenses, strategic planning, NAR Home Buyer and Seller survey and NAR meetings. The Administrative section includes investment and rental income and expenses for professional fees, salaries, fringe benefits, building, insurance, occupancy, property taxes, general office expenses and depreciation.

The bottom line shows Excess Receipts Over Expenditures of $310,971, which will be used up in the coming months. Last year our net revenue was $294,527 for the same time period. The revised budgeted net loss is $1,934.

M/S/C to approve the unaudited Statement of Financial Position (Balance Sheet) and Statement of Activities as of August 31, 2015, and recommend placing on file for audit.

C. President’s ReportMike Ruzicka reported the following in addition to his written memorandum to the Board of Directors:

1) Strategic Planning Meeting – On September 3rd, the GMAR held a strategic planning program in downtown Milwaukee. Mr. Ruzicka spent a few minutes during the meeting to go over the major points the planning meeting attendees made.

2) Public Awareness Campaign – The Public Awareness Campaign ended earlier this summer. The campaign seems to have been successful, particularly because the GMAR could measure the impact it had versus a typical ad campaign. The campaign directed people to go to www.WIHomes.com, which saw a precipitous increase in traffic. Mr. Ruzicka said a big question for the GMAR leading into next year is whether we should do another campaign or not.

3) Waukesha Water – The GMAR has gone on the record in support of the City of Waukesha’s petition to the DNR and the Great Lakes Council to divert water from Lake Michigan. The GAMR’s Public Policy Task Force endorsed the request years ago and the GMAR submitted a letter on August 28th in support.

The DNR and SEWRPC have both indicated they support the city’s request as well. There is vocal (though misguided) opposition from environmental groups primarily over the size of the service area that would receive water, nut also over the environmental impact of the water diversion and return.

The DNR will approve or deny the city’s request this fall, after which time it will have to be approved unanimously by all state legislatures in the Great Lakes drainage basin. Mr. Ruzicka reported that that is a tall order, because many states do not have any “skin in the game” and could succumb to environmental group pressure.

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4) Addendum A – The GMAR held an Addendum A meeting immediately prior to the Directors meeting. Cori Lamont, from WRA, was on hand to help re-draft certain sections of the addendum, including the section that applies to ‘time of sale’ ordinances.

5) Rental/Landlord Summit – The Association is planning to co-host a conference for rental property owners and REALTORS® who sell to investors on September 29th at the Italian Community Center. We are partnering with BOMA, AOMA, NAA and IREM on the event.

One goal we have with this conference is to grow the customer base of WRES (Wisconsin Real Estate Supply, or our store). Deb Kruse plans to have several products available at the event, and capture their future business.

6) Board of Directors Election – The GMAR Board of Directors election will take place on October 11th and run for one week, ending at midnight on the 17th. On the ballot this year are:

Mike Kollmansberger, Shorewest Realtors Dale Marciniak, RE/MAC Realty 100 Jennifer Burns, Realty Executives Integrity Mark Kivley, RE/MAX Lakeside Ted Dentice, Shorewest Realtors Amy Spear, Coldwell Banker

D. Departments1) Government Affairs

Marne Stuck reported:

Fall School Tours-Over the past several years, school districts have reached out to the GMAR to showcase their districts. It began when MPS took a dozen Realtors on a “Parade of Schools” with a bus tour of several school options MPS parents have for their children. Two years ago, The Mequon-Thiensville School District started a Realtor Luncheon and invited GMAR members to hear about the offerings in the MTSD. They do this in the spring each year, but may add a fall luncheon. Since then a host of others have reached out to us. On November 6, the West Bend District is inviting Realtors on a bus tour of an elementary, middle and high school tour. We will continue to keep the GMAR membership apprised of these tours/informational sessions.

Bucks/Arena Development Project—On Tuesday, Sept. 22, the MKE Common Council will vote on several ordinances containing financing options relating to the downtown arena. The GMAR sent a Call for Action to members in the city of MKE (similar to the legislative CFA several weeks ago) asking them to contact their Alderman with support of the arena. There were also a handful of members who placed a personal call to their Alderman. It is anticipated that the ordinances will pass the full council.

Time of Sale (TOS) - Only July 12, 2015, Governor Walker signed the 2015-17 state budget into law (2015 Wis. Act 55). One provision of great importance to the real estate industry is the new restriction on local time of sale (TOS) requirements (section 4595c). As municipalities learn and react to this new law, several have found loopholes. In particular, the Village of Fox Point, claims they can enforce code compliance upon “occupancy” of a home, claiming that is separate from “ownership”, and the city of Milwaukee is trying to transfer code compliance obligations to the buyer vs. the seller at the time of sale. WRA has drafted legislation which will, hopefully, close those loopholes. They are already looking for support within the legislature as the fall session is set to begin. Please direct any questions to the GMAR or WRA’s Legal Hotline if you or members are encountering issues with municipalities and the TOS law.

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Ms. Stuck thanked the Directors for their continued support of RPAC and the Direct Giver program and will share upcoming fundraisers as they occur.

2) PromotionsNo report was given

3) Professional Standards Scott Bush provided the following report:

GMAR member Jeremy Arrington requested financial assistance for legal fees to enforce an arbitration award. M/S/C to allocate $300 to assistance in the enforcement

Scott and Tracy Rucka from WRA just completed NAR’s professional standards training in Chicago. The curriculum covered the many changes in the code of ethics and arbitration manual. Scott is also chairing the WRA’s Professional Standards’ Work Group to analysis the changes and evaluate what adoptions would be advantageous to our state and association.

4) CommunicationsCaitlin McCrory provided the following report:

Email open rates seem to have settled, and we are almost at the one year mark of using Constant Contact as our provider, and recording data. Social media followers continues to trend upward.

5) MLS Chris Carrillo provided the following report. Pocket listing complaints have virtually evaporated since instituting the new delayed

listing policy. Zillow-MLS negotiations have been difficult due to Zillow’s requirement that they keep

much of the MLS’s information in perpetuity. Zillow only has about 40% of the listings in the Milwaukee market.

WIREX is making improvements, slow and steady Bill collecting to go online, PCI compliant, will offer the service to the GMAR The Neighbor City case was dismissed in a summary judgement.

5. Old BusinessNo Old Business was discussed.

6. New BusinessNo New Business was discussed.

7. AdjournThe meeting adjourned at 2:04 PM.

Respectfully submitted,

Mike RuzickaPresident

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NEW MEMBER REPORT

65 REALTOR® and Affiliate members for approval (DR - 1; R -61; A - 3)

Amber Balistreri First Weber Inc~DLFCole Baltz Jason Scott Realty & Management LLCAdrian Barrera Shorewest, REALTORS~MorelandGerrod Bell Keller Williams Realty~MilwDonna Bernier T3 Realty LLCGareth Bloomfield Coldwell Banker HomeSale Realty~ CorporateRobyn Booth Realty DynamicsJacob Breitenfeldt Realty Executives Integrity~HartlandCheryl Brewster First Weber Inc~DLFChandre Burns Powerhouse, LLCJon Christine Realty Executives Integrity~HartlandBrandon Cintron RE/MAX Lakeside~CapitolKelly Dahlberg Cherry Creek MortgageDeborah DeFere Response, REALTORSMark Dorlack Keller Williams Realty~MilwLisa Eastman Powers Realty Group~MequonTanja Felton First Weber Inc~NPWWendy Fischer SJW Realty AdvisorsJackie Fohr Fohr Realty LLCYvonne Franks Shorewest, REALTORS~MNM FallsThomas Fuller First Weber Inc~BKSean Gahagan Realty Executives Integrity~HartlandShawn Geiger Green Door Realty & Property ManagementDaniel Guerndt Coldwell Banker Res Brokerage~West BendAbby Hauke First Weber Inc~DLFZachary Hicks Realty Executives Integrity~BrookfieldPaula Hienz First Weber Inc~BKAngelica Johnson Redefined Realty Advisors LLCMichael Julius Amerifirst Home MortgageShawna Knight Realty Executives Integrity~BrookfieldBrandon Ladwig Kapital Real Estate LLCGinger Lazovik Shorewest, REALTORS~N OaklandJennifer Lemke Dream Realty LLCMaxine Maass Realty DynamicsStephanie Macklin Forest Green RealtyKassandra Maurer First Weber Inc~DLFKaren Maynard RE/MAX Realty 100~M FallsAna Milian Century 21 Affiliated~MilwJean Mulvaney North Shore Homes IncVictoria Nowe Shorewest, REALTORS~South SuburbanJames Olson First Weber Inc~DLFAmy Oyen Realty Executives Integrity~BrookfieldIna Petrovici Bay View HomesDeon Price North Shore Homes IncJames Purcell RE/MAX Realty 100~MilwaukeeCheryl Richwalski Century 21 Affiliated~Oak CreekJustin Roach Realty Executives Integrity~HartlandJennifer Roach Realty Executives Integrity~Hartland

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Nicole RobbinsColdwell Banker Residential Brokerage~N Shore

Jill Rockwell Century 21 Affiliated~Oak CreekElizabeth Roozen Cornerstone, REALTORSPatricia Schaefer American, REALTORS~SPJacob Schmitt Riverwest Realty MilwaukeeLuke Schoepke Coldwell Banker Residential Brokerage~BRKGordon Schubert Waukesha State BankFrederick Seeley Realty Executives Integrity~HartlandCori Seider Shorewest, REALTORS~W NorthHeather Sigwald Shorewest, REALTORS~OCKristel Sikora Shorewest, REALTORS~New BerlinDanielle Steier Hanson & Co Real EstateJennifer Strohm Shorewest, REALTORS~New BerlinMehreen Sulaiman Coldwell Banker Residential Brokerage~BRK

DawnWabiszewski Keller Williams Realty~Milw

Natalie Wiedmeyer Exit Realty XLKaitlin Young Eagle Keller Williams Realty~Milw

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OCTOBER 2015 FINANCIAL STATEMENTS

Statement of Financial PositionAs of October 31, 2015, GMAR had $1,558,644 in Cash & Investment Balances, up $3,495 compared to last year. Accounts receivable were down $8,266 compared to last year. Prepaid expenses were down $2,103 compared to 2014. Total Assets were $3,261,160 which is down $24,843 compared to 2014.

On the Liability side, accounts payable were up $18,235 compared to last year due to higher dues payable to WRA and NAR than last year; unearned revenue was down $5,039; accrued vacation expenses were up $3,992; the long-term mortgage liability was down $31,643 which is the amount of principal to be paid on the mortgage in 2015. Overall, Total Liabilities were $1,212,975 which is down $12,510 compared to 2014.

For the month ending October 31, 2015, GMAR had Net Income of $182,417, up $14,344 from last year. Overall, Total Net Assets were $2,048,184; $12,333 lower than the same point in 2014.

Statement of ActivitiesMembership: Through October 2015, $846,460 was collected in dues. We budgeted for a 90% renewal. Actual renewal was 87%. Last year at the end of October, we had collected $768,313 in dues so we are $78,147 ahead of last year at the same time. New member budget for 2015: 464 REALTORS®, 50 DRs and 20 Affiliates. Through October, actual new members: 484 REALTORS®, 44 DRs and 11 Affiliates.

Promotions: Through October 31, Home and Garden Show income is $862,426 and expenses are $622,443. Current net income is $239,983. The revised budgeted net income for the Home and Garden Show is $260,004. Expenses related to Public Policy and Professional Standards were basically all personnel costs, incurring expenditures primarily in Labor and Overhead. Products (Wisconsin Real Estate Supply): Product sales through October 2015 were $7,324 lower than the sales through October 2014. Total product sales through October 2015 were $64,913. Total revised budgeted product sales for 2015 is $87,400.

The Leadership section includes expenditures for meetings, committees, officer expenses, strategic planning, NAR Home Buyer and Seller survey and NAR meetings. The main expenses recorded through October were officer stipends, registration fees and travel expenses for the Chairman and President to attend several conferences, the NAR Home Buyers and Sellers survey, NAR midyear meeting expenses, and Milwaukee Bucks season tickets.

The Administrative section includes investment and rental income and expenses for professional fees, salaries, fringe benefits, building, insurance, occupancy, property taxes, general office expenses and depreciation.

The bottom line shows Excess Receipts Over Expenditures of $182,417, which will be used up in the coming months. Last year our net revenue was $168,073 for the same time period. The revised budgeted net loss is $1,934.

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OCTOBER 2015 BALANCE SHEET

October 31, October 31,2015 2014 $ Change % Change

Assets:Cash 410,044.28 591,177.66 (181,133.38) -30.6%Investments-BMO 423,577.52 398,413.67 25,163.85 6.3%Bankers' Acceptance/ICS Investment 725,022.37 565,558.31 159,464.06 28.2%Accounts Receivable 101,527.76 109,793.38 (8,265.62) -7.5%Prepaid Expenses 172,400.87 174,504.33 (2,103.46) -1.2% Total Current Assets 1,832,572.80 1,839,447.35 (6,874.55) -0.4%

Fixed Assets (Net of A/D) 471,338.69 489,307.03 (17,968.34) -3.7%MLS Investment 957,248.29 957,248.29 0.00 0.0%

Total Assets 3,261,159.78 3,286,002.67 (24,842.89) -0.8%

Liabilities and Fund Balance:Liabilities:Accounts Payable 245,756.31 227,521.77 18,234.54 8.0%Unearned Revenue 553,990.00 559,029.00 (5,039.00) -0.9%Accrued Expenses 66,186.58 60,249.18 5,937.40 9.9%Mortgage-Long Term Liability 347,042.59 378,685.32 (31,642.73) -8.4% Total Liabilities 1,212,975.48 1,225,485.27 (12,509.79) -1.0%

Net Assets:Net Assets 1,659,188.29 1,528,322.64 130,865.65 8.6%General Reserves - 3% Dues 19,166.70 17,930.80 1,235.90 6.9%Board Designated Reserve Fund 187,412.32 346,190.47 (158,778.15) -45.9%Net Revenue (Expense) 182,416.99 168,073.49 14,343.50 8.5% Total Net Assets 2,048,184.30 2,060,517.40 (12,333.10) -0.6%

Total Liabilities and Net Assets 3,261,159.78 3,286,002.67 (24,842.89) -0.8%

GREATER MILWAUKEE ASSOCIATION OF REALTORSStatement of Financial Position

As of October 31, 2015

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OCTOBER 2015 STATEMENT OF ACTIVITIES

Current Year Previous Year Current Year10 Months 10 Months 2015 Current Year Current Year

Ending 10/31/15 Ending 10/31/14 Annual $ Over (Under) % ofActual Actual Budget Budget Budget

Receipts:Dues 846,459.50 768,313.25 839,769.00 6,690.50 100.8%Member Outings 66,293.00 63,589.17 86,245.00 (19,952.00) 76.9%Member Services 1,200.00 537.00 1,000.00 200.00 120.0%Young Prof Network 0.00 360.00 0.00 0.00 0.0%New Member Orientation 1,735.00 2,510.00 1,600.00 135.00 108.4%Home and Garden Show 862,426.25 874,593.50 862,426.00 0.25 100.0%Other Shows 600.00 1,250.00 600.00 0.00 100.0%Education 5,902.84 11,716.78 18,500.00 (12,597.16) 31.9%Youth Foundation 10,833.30 10,833.30 13,000.00 (2,166.70) 83.3%Public Policy 1,000.00 1,000.00 1,000.00 0.00 100.0%NAR Grant 0.00 0.00 0.00 0.00 0.0%Wisconsin Real Estate Supply 68,916.13 76,489.26 91,800.00 (22,883.87) 75.1%Professional Standards 4,100.00 900.00 1,800.00 2,300.00 227.8%Leadership 5,000.00 0.00 0.00 5,000.00 0.0%Interest 7,440.84 6,600.77 10,000.00 (2,559.16) 74.4%Realized Gain (Loss) * 15,625.16 7,984.37 0.00 15,625.16 0.0%Unrealized Gain (Loss) * (16,637.93) 2,717.56 0.00 (16,637.93) 0.0%Administrative 96,006.06 68,682.44 125,972.00 (29,965.94) 76.2%

Total Receipts 1,976,900.15 1,898,077.40 2,053,712.00 (76,811.85) 96.3%

Expenditures:Dues 35,145.04 33,470.77 46,500.00 (11,354.96) 75.6%Member Outings 48,942.40 50,661.43 85,092.00 (36,149.60) 57.5%Member Services 65,029.32 7,008.30 64,350.00 679.32 101.1%Young Prof Network 0.00 293.85 0.00 0.00 0.0%New Member Orientation 15,594.59 9,205.74 10,235.00 5,359.59 152.4%Membership Department 250.29 764.86 70.00 180.29 357.6%Kettle Moraine 2,946.32 0.00 6,250.00 (3,303.68) 47.1%Home and Garden Show 622,442.69 615,857.34 602,422.00 20,020.69 103.3%Other Shows 17.54 697.65 0.00 17.54 0.0%Education 1,163.31 2,240.73 3,175.00 (2,011.69) 36.6%Youth Foundation 289.80 162.28 300.00 (10.20) 96.6%Promotion Department 0.00 0.18 0.00 0.00 0.0%Public Policy 17,289.00 18,868.45 14,486.00 2,803.00 119.3%NAR Grant 0.00 0.00 0.00 0.00 0.0%Wisconsin Real Estate Supply 54,958.78 70,202.31 66,691.00 (11,732.22) 82.4%Professional Standards 7,366.92 4,451.50 3,900.00 3,466.92 188.9%National Meetings 33,966.13 27,796.67 46,600.00 (12,633.87) 72.9%Offi cer Expenses 35,869.08 45,219.31 39,700.00 (3,830.92) 90.4%Meetings 3,329.62 3,167.32 3,850.00 (520.38) 86.5%Committees 8,905.04 5,799.93 7,400.00 1,505.04 120.3%Leadership Department 22,040.67 4,338.27 27,500.00 (5,459.33) 80.1%Direct Wages/Fixed OH/Variable OH 510,638.91 578,964.79 767,157.00 (256,518.09) 66.6%

Administrative 818,936.62 829,797.02 1,027,125.00 (208,188.38) 79.7%Direct Wage,Fixed/Variable OH Alloc (510,638.91) (578,964.79) (767,157.00) 256,518.09 66.6%

Total Expenditures 1,794,483.16 1,730,003.91 2,055,646.00 (261,162.84) 87.3%

Net Income (Expense) - Per Audit 182,416.99 168,073.49 (1,934.00) 184,350.99 -9432.1%

Department/Program categories do not include overhead costs. The expenses shown are only the direct costs associated with the Department/Program.

Net Income per cash basis budget - CURRENT YEARAudit-Net Income (Expense) 182,416.99

* Realized & Unrealized Gain/Loss on Sale of Securities 1,012.77 Not budgetedFixed asset purchases 2,336.50 Revised Budget is $0

per Budget 185,766.26

GREATER MILWAUKEE ASSOCIATION OF REALTORSStatement of Activities

October 31, 2015

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MEMORANDUM

TO: GMAR BOARD OF DIRECTORS

FROM: MIKE RUZICKA, PRESIDENT

RE: NOVEMBER PRESIDENT’S REPORT

Moving Annual Dues Collection Period P 14A request from a REALTOR® (non-GMAR) was circulating late last month regarding changing the billing period. The GMAR BOD has discussed this issue, in addition to creating tiered memberships and installment payments, occasionally and has consistently rejected those ideas.

I’ve outlined the reasoning for not changing the current practice in my response to the broker who introduced the idea. The two major reasons are, it would impact how we pay NARs dues and the BOD has said dues are a normally occurring business expense and members should budget and plan for their payment.

Below Grade Square Footage P 17A second request for changes we received earlier this summer dealing with how MLS treats below grade square footage. I discussed the appraiser member’s with Chris Carrillo and he reminded me that MLS only requires “Est Total SqFt” which includes both above and below grade, which matches what public records show.

He also mentioned the perennial liability risk of reporting square footage.

At this time, there does not appear to be a pressing need to change, but I told Mr. Barreiro that I would report his request to the BOD.

Great FSBO News from NARWhat was probably the best news in years from NAR was published in a blog post on NAR’s Economists’ Outlook on November 9th. The article, Selling Your Home Solo to Save Money? You’ll Actually Make Less Than You Think, spells out the negative consequences of FSBO sales, the tens of thousands of dollars FSBO sellers leave behind and the minority of sales that are FSBO.

2016 GMAR BudgetWith our final Directors’ meeting of the year, we have to plan for next year. The staff and I have been working on the 2016 budget, but are not quite finished with it. I plan to have a budget for you to review at the meeting next Thursday.

2015 GMAR Budget Prediction P 19I have been asking the staff to limit expenses and look for short-term revenue sources are we headed into the 4th quarter. While our membership income has done better than we expected, store sales and HGS revenue did not meet our budget expectations.

The attached table shows income and expenditures for the year, along with overhead. The reddish boxes indicate a 2-year average for their respective category. If our income and expenditure behavior are on par with the last two years, we will finish 2015 in the black.

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Board of Directors ElectionThe GMAR Board of Directors election took place on October 11th and ran for one week, ending at midnight on the 17th.

608 (16%) members started ballots, but only 596 actually cast them. There were 12 ballots in progress when the election ended. Below is a summary of the results from our election vendor.

WRA Management Conference P 20As in the past, the GMAR will cover the registration fee for any Director who wishes to attend the WRA Management Conference, to be held at the Marriott West this year. Please let me know if you would like to attend.

Recurring Status Reports

GMAR Member Involvement P 21

MLS Membership Stats P 22

2014 GMAR Directors Roster P 23

2014 GMAR Calendar P 24

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MOVING ANNUAL DUES COLLECTION PERIOD

From: Sherry Schultz [mailto:picketfencerealtor@gmail.com] Sent: Monday, October 26, 2015 11:11 AMSubject: Moving Yearly Dues to JUNE instead of the end of the year Hello fellow Realtors,

I am wondering if I am the only one who has ever wanted to pay my end-of-the-year-dues in June, when we are making good money, instead of November/December, when we are slowed down.

If I am not the only one, would any of you be interested in starting a movement to have the deadline for our dues moved to June?

I am thinking if we could each contact MLS, and simply ask them to "change it to June," it may make a difference. If they are inundated with the requests, they should take us seriously.

We are now paying our end-of-the-year bill, which is good through the end of 2016. The June 2016 billing, then, should simply be only for 1/2 of a year...the money of which MLS would hold onto until January 2017 to use from January, 2017 to June of 2017, when we would then start the full 12 months amount due. We have always been expected to budget properly, and this would force them to do so as well, to start us off on the course of June payments.

If you think this way makes more sense for the working calendar of a Realtor, then I invite you to join me in making a change.

Here's the email address of Chris Carrillo, the CEO of MLS: Chris@metromls.com

He is the one in charge of making any changes. I have dealt with him before, and he is very focused on helping the members. Thanks for any input you can provide.Sherry Schultz

Sherry SchultzBroker/Owner Picket Fence Real Estate36285 52nd. StreetBurlington, WI 53105262-945-9859 phone262-537-3648 faxpicketfencerealtor@gmail.com_________________________________________________________________________________

From: Chris Carrillo [mailto:chris@metromls.com] Sent: Monday, October 26, 2015 11:38 AMTo: Mary PetersenCc: Sherry Schultz; Mike Ruzicka; Denise Schultz (denise@lakesrealtors.com)Subject: RE: Moving Yearly Dues to JUNE instead of the end of the yearImportance: High Good morning Mary, 

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Thank you for the email. I want to be clear in my response that your question on the timing of your annual Realtor dues billing is in no way connected to the Multiple Listing Service. The annual dues billing is exclusively for the collection of Realtor dues owed to the National Association of Realtors, the Wisconsin Realtors Association and your local Realtor Association (i.e. The Greater Milwaukee Association of Realtors, Lakes Area Association of Realtors, etc…) This decision is based on your local Realtor Association prerogative and business needs.  Metro MLS is a separate for-profit business that receives no revenue, in any way, from that annual billing event. MLS bills monthly to each member Real Estate office for each active Realtor that belongs to that office. In that manner we are no different than how your cell phone or electric company bills you.  I wanted to make that distinction clear so you may know who to contact for such a question. This is especially important as your email to your peers (below) indicates a call to action of sorts and I have already received emails requesting this change. Please let me know if you have any questions.  All the best.  Chris Carrillo, ePro, CMLXChief Executive OfficerMetro MLS

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On Mon, Oct 26, 2015 at 12:38 PM, Mike Ruzicka <mike@gmar.ws> wrote:

Mary, Your question/petition is one that comes up occasionally, along with possibly creating an installment plan for dues payments.  And, it certainly is a valid one.  However, the GMAR Board of Directors has consistently said no to changing the billing system for several reasons: 

1. NAR would have to change its billing period as well.  If the GMAR and WRA assessed dues in, say, June, we would have to bill a second time later in summer for NAR’s amount.

2. NAR sets its dues for the subsequent year at the May NAR Directors meeting.  While it would seem to be a simple task for them to turn around and bill members in June, we do still mail out dues bills (many members expect paper bills), so we would only be saving a couple of months, because the GMAR sends dues bills out in late August or the first week in September.

3. The GMAR Directors have said that members should have a good idea of what association dues are each year, and that part of being a REALTOR® is budgeting for them.

4. Member often miss, throw out, delete, etc. various communications from NAR, WRA and the GMAR during the year, and it is especially hard to communicate with them during the spring/summer market when they are busy with their work.  The Directors fear that many more members would forget or miss paying their dues and be faced with late fees.

 I’m not trying to give you a bunch of bureaucratic drivel to throw you off your idea.  We always want to serve members better, and make paying dues as easy and painless as possible.  Member dues are a huge source of revenue for GMAR, WRA and NAR, so we should make it as easy as possible.  However, I do want you to know we have thought long and hard about changing our billing. Finally, many organizations are changing from a fiscal year to a calendar year.  The GMAR made that change in 2000.  I’m not sure what the ramifications would be of billing 6 months before a fiscal year starts.  On the downside, it could limit the ability of an organization to respond to issues

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because planning for them would have to be so far out in front.  On the positive side, all dues revenue would be in before the fiscal year started. Thank you for your email and I will share your message at the next GMAR directors meeting. Please feel free to call or email with any additional questions. Thanks,Mike_________________________________________________________________________________From: Sherry Schultz [mailto:picketfencerealtor@gmail.com] Sent: Monday, October 26, 2015 12:52 PMTo: Mike Ruzicka <mike@gmar.ws>Cc: Mary Petersen <mpetersen@keeferealestate.com>; Denise Schultz <denise@lakesrealtors.com>; Chris Carrillo <chris@metromls.com>; judy@gmar.ws; Larson, Stephanie <larson@wra.org>Subject: Re: Moving Yearly Dues to JUNE instead of the end of the year

Hello Mike,

Thank you for your response.

Over the years the only response I've gotten when I've asked for this to change is either no, or "we've always done it this way."

One of the most important things that all of these people at NAR, WRA, GMAR, and all the other Associations have to realize is...who are your Stakeholders?

The answer is, "the Realtors."

Based on this one email, I have found that this is a hot button to push. 99% of the responses to me are in favor. Only one, said it's okay to leave it.

Your reasoning below suggests to me that the billing is only to satisfy the NAR and WRA and their budgetary time table. They don't appear for a moment to give a thought to a Realtor's budget. We are expected to work our business around theirs, when in fact, it is our business that allows theirs to exist.

Nearly every Realtor out there makes the most money in the spring and summer. THAT is when this large expense to our business should be due....not the time of year when we are the absolute slowest.

I think it is time for these Associations to really represent our best interests, not theirs. Perhaps, instead of the Directors saying "members should have a good idea of what associations dues are each and and that part of being a Realtor is budgeting for them" INSTEAD should read, "Associations should have a good idea of the value that Realtor's are to them, and that part of being an Association is budgeting in a way that serves their members."

Just because I am able to pay my share at the end of this year, does not mean everyone can. I know that for a fact. It's time that we get some customer service directed to us, instead of threats of disconnection and late fees.

Sherry Schultz

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BELOW GRADE SQUARE FOOTAGE

From: Jorge Barreiro [mailto:barreiroj@att.net] Sent: Friday, May 29, 2015 2:54 PMTo: 'mike@gmar.ws' <mike@gmar.ws>Subject: Metro MLS - Est Fin BelowGr SqFt

Mike,

We just spoke about making the estimated below grade square footage mandatory for the realtors. This would be very helpful for the real estate appraisers that are members of the Metro MLS when matching comparable sales to determine a market derived adjustment amount for a variable, i.e. bath count. For example, if I need to make an adjustment for bath count differences in an appraisal, I have to find two sales that are nearly identical with the exception of bath count. The difference in sale price will give an indication of the adjustment amount required for bath area. Currently I have to go through every sale one at a time to see if they have any finished basement area and take them out of my results. This is because you should match two sales for comparison that have no finished basement area for an accurate adjustment amount. This is why I’d like the below grade square footage mandatory to make this process much easier and less time consuming. Please feel free to contact me if you have any questions on this. Have a good weekend.

Regards,

Jorge BarreiroWI Certified Residential Appraiser 1778Barreiro Appraisals LLCMobile (262) 993-7388barreiroj@att.net________________________________________________________________________________

From: Mike Ruzicka [mailto:mike@gmar.ws] Sent: Monday, August 3, 2015 3:01 PMTo: 'Jorge Barreiro' <barreiroj@att.net>Cc: Chris Carillo <chris@metromls.com>Subject: RE: Metro MLS - Est Fin BelowGr SqFt

Jorge,

I discussed your idea with Chris Carrillo, the CEO of Metro MLS.

He reminded me that we have received this request as well as requiring above grade sq ft’ge. Currently, Metro MLS only requires “Est Total SqFt” (typically above + below grade). This field typically matches what public record shows on individual parcels. If assessors provided this information in a uniform fashion across our market we could potentially require this field.

However, good ideas can run into liability concerns.  Many brokers are not warm to the idea of having their agents be responsible for measuring sq ft’ge whether it’s above or below ground.

Nonetheless, I will bring the issue to our directors at the September meeting to see if their sentiment has changed.

Thanks,Mike Ruzicka

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_________________________________________________________________________________

From: Jorge Barreiro [mailto:barreiroj@att.net] Sent: Monday, November 02, 2015 1:49 PMTo: 'Mike Ruzicka' <mike@gmar.ws>Subject: RE: Metro MLS - Est Fin BelowGr SqFt

Thanks for the reply Mike.

Remember, I’m not requesting any major change for the realtors. Something as simple as yes or no check box for any below grade finish is sufficient if it can be added to the search parameters. Just trying to get an easy to refine the search criteria to remove any sales that have finished basement area. Call me with any questions. I’ll wait to hear back from you later this month.

Thanks,

Jorge_________________________________________________________________________________

From: Jorge Barreiro [mailto:barreiroj@att.net] Sent: Monday, August 03, 2015 3:28 PMTo: 'Mike Ruzicka' <mike@gmar.ws>Subject: RE: Metro MLS - Est Fin BelowGr SqFt

Mike,

I understand the liability concern of measuring above grade and below grade living area. What I’m really trying to have made available is a more efficient way of removing the sales that have below grade finish from my search results. The living area below grade doesn’t have to be listed but It can’t be include with the above grade living area for accurate appraisal results. Currently there is no way to easily remove sales with below grade finish from my results. That’s what appraisers need the ability to do. Anyway MLS can be formatted to achieve this would be sufficient. I don’t think we need to have the realtors do any more calculating then they currently do. Some way to mark a listing that has finished basement area that will allow MLS to include this in a search criteria would be sufficient. Let me know your thoughts on this and please give me an update after your September meeting. Thanks for your help.

Regards,Jorge

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GMAR 2015 Year End Fiscal Position

GMAR SUMMARY2015 2015

Income Dir Expenditures Income Dir ExpendituresJanuary 1,235,986.43$ 277,649.66$ 1,235,986.43$ 277,649.66$ February 181,422.70$ 94,251.33$ 181,422.70$ 94,251.33$ March 117,150.56$ 87,700.37$ 117,150.56$ 87,700.37$ April 167,405.81$ 356,368.48$ 167,405.81$ 356,368.48$ May 45,599.99$ 79,614.29$ 45,599.99$ 79,614.29$ June 60,867.88$ 100,164.72$ 60,867.88$ 100,164.72$ July 78,484.39$ 111,480.12$ 78,484.39$ 111,480.12$ August 18,265.25$ 76,121.86$ 18,265.25$ 76,121.86$ September 29,165.33$ 46,452.22$ 29,165.33$ 46,452.22$ October 42,551.81$ 54,041.20$ 42,551.81$ 54,041.20$ November -$ -$ 48,762.47$ 39,843.12$ December -$ -$ 25,636.05$ 88,040.78$

1,976,900.15$ 1,283,844.25$ 2,051,298.67$ 1,411,728.15$

Net Total 693,055.90$ 639,570.52$

2015 2015Income Dir Expenditures Dir Expenditures

January 53,787.16$ 53,787.16$ February 58,787.96$ 58,787.96$ March 65,926.74$ 65,926.74$ April 52,215.68$ 52,215.68$ May 50,730.95$ 50,730.95$ June 49,306.03$ 49,306.03$ July 33,427.81$ 33,427.81$ August 46,678.75$ 46,678.75$ September 42,529.18$ 42,529.18$ October 57,248.65$ 57,248.65$ November 53,267.07$ December 66,857.04$

510,639$ 630,763.01$

Income Statement 2015Income Over Expenditures 182,416.99$ 8,807.51$

Overhead (Direct Wages, Fixed Overhead Allocation & Variable Overhead Allocation)

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View Complete Schedule Milwaukee Marriott West W231N1600 Corporate CourtWaukesha, WI 53186

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GMAR Member Involvement

2010 2011 2012 2013 2014 2015Membership 3,887 3,301 3,469 3,725 3,625 3,905Business/Transaction

Tech Forum 81 118 84 131 102Tax Strategies 98 80

WHEDA 44 Brown Bag Sessions 153 387 225 388 235 93

ShredFest 170 177 190 213 208 224Genius Bar 25

Action Recycling 15 12 REALTOR Econ Summit 113 100 79 72

Open Houses 520 889 611 757 722 469

13% 27% 18% 20% 20% 12%Personal

R Safety/Self Defense 42 15 3642 15 36 0 0

1% 0% 0.4% 1.0% 0% 0%Social

Brewers Tailgate 175 150 191 160 214 260Golf Outing 167 163 164 195 223 228

KMC Golf Outing 71 59Holiday Party 353 283 405 496 440

Tiki Party 85 695 596 760 851 1,033 547

18% 18% 22% 23% 28% 14%Home & Garden Show

REALTOR Night @ HGS 97 211 190 156 251% 156REALTOR Reps 25 45 39 64 32 41

VIP Tickets 483 470 449 455 475 493605 726 678 675 758 690

16% 22% 20% 18% 21% 18%

TOTAL 1,862 2,211 2,064 2,159 2,046 1,70648% 67% 59% 62% 56% 44%

New Member Orientation 277 189 234 387 395 382

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MLS Membership Statistics

METRO/MLS MEMBERSHIP STATISTICS

OFFICESAug-

15Sep-

15Oct-

15Oct-

14 USERSAug-

15Sep-

15Oct-

15Oct-

14METRO 822 824 820 797 3% METRO 3790 3792 3801 3698 3%OZAUKEE 59 59 59 57 4% OZAUKEE 268 266 270 274 -1%RACINE 57 57 57 58 -2% RACINE 216 217 216 214 1%SOUTHSHORE 131 131 132 129 2% SOUTHSHORE 417 423 427 402 6%LAKES AREA 98 98 99 100 -1% LAKES AREA 431 439 441 429 3%JEFFERSON 26 26 26 26 0% JEFFERSON 121 122 123 116 6%SHEBOYGAN 58 58 58 60 -3% SHEBOYGAN 197 197 197 202 -2%MANITOWOC 38 38 38 36 6% MANITOWOC 139 140 139 134 4%LACROSSE 90 91 92 92 0% LACROSSE 348 344 348 346 1%OTHER 146 149 150 142 6% OTHER 295 300 301 271 11%TOTAL 1525 1531 1531 1497 2% TOTAL 6222 6240 6263 6086 3%

NEW MEMBERS: BROKER/OWNER BOARDBrokercity Inc. (of26330) Frank Richier OtherHillebrand, Pamela-Broker (met.ofhip) Pamela J Hillebrand LaraPMR Realtors (redreal) Phillip Red Gmar

RESIGNED/TERMINATED:YR/JOIN

Ritger Realty & Auction (of4096) Jun-15 Daniel Ritger (2) GmarArbor Realty (castner) Mar-08 Stephen Castner (1) OzaukFamily Realty, LLC (rfrealty) Jul-14 James Johnson (1) GmarFreedom Realty, LLC (freedom) Apr-13 Bryan Albright (1) GmarFive Star Realty, LLC (5star) Aug-14 Robert Polega (1) GmarTwo Sisters Realty, LLC (twosis) Dec-08 Tamara Sindberg (2) Gmar

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2015 GMAR Board of Directors

Terms expiring12/31/2015

Terms expiring12/31/2016

Terms expiring12/31/2017

Kathy MartelloRE/MAX Realty 100W178N9358 Water Tower Place, # 200Menomonee Falls, WI 53051O 262.255.9200 M 414.550.3617kmartello@remax.net NRDS: 90031322

(3yr term from Exec Roundtable)

Joan ReadColdwell Banker Residential Brokerage626 E Ogden AvenueMilwaukee, WI 53202O 414.277.9500joan.read@cbexchange.com NRDS: 90006480

(3yr term from Exec Roundtable)

Joe HorningShorewest, Realtors17450 W. North Ave.Brookfield, WI 53045-4337P 262.827.4200 M 262.640.0925jhorning@shorewest.comNRDS: 90096259

(3yr term from Exec Roundtable)

Bob Larson, Past ChairFirst Weber Group, Realtors 1507 E Sunset Drive (2nd Term)Waukesha, WI 53189-8203O 262.522.7773 M 262.370.8018blarson@firstweber.com NRDS: 90029647

Betsy Head, ChairwomanRealty Executives Integrity (2nd Term)412 E Silver Spring DriveWhitefish Bay, WI 53217O 414.906.4500 M 414.967.7700betsyhead@realtyexecutives.comNRDS: 90050499

Roxanne Platz, Chair-ElectFirst Weber Group, Realtors (2nd Term)2750 Golf Rd, Suite ADelafield, WI 53018-2063O 262.646.6800 M 262.370.7767rplatz@firstweber.comNRDS: 90028348

Dale MarciniakRE/MAX Realty 100 (1st Term)10303 W Oklahoma AveMilwaukee, WI 53227-4135O 414.327.7020 M 414.429.2344dale@homesbydale.comNRDS: 90024500

Cindy FlemingFirst Weber Group, Realtors (2nd Term)17345 W. Bluemound RoadBrookfield, WI 53045O 262.782.3110 M 262.424.5711cindyfleming@wi.rr.com NRDS: 90017596

Vickie Kelsall, Corporate SecretaryCentury 21 Affiliated (1st Term)1033 N Mayfair Rd, Suite 321Wauwatosa, WI 53226-3442O 414.543.5403 M 262.332.2233vkelsall@c21affiliated.comNRDS: 90010989

Mike Kollmansberger, Treasurer Shorewest Realtors (1st Term)921 Meadowbrook RdWaukesha, WI 53188-7315O 262.548.9393 M 262.271.5702mikek@shorewest.com NRDS: 90076658

Kel SvobodaCentury 21 Affiliated (1st Term)1033 N Mayfair Rd, Suite 321Wauwatosa, WI 53226-3442O 414.543.5403 M 414.213.9014kel@c21affiliated.comNRDS: 90098433

Arthur MaysRealty Among Friends (1st Term) 8301 W Lisbon AveMilwaukee, WI 53222O 414.444.2696 M 414.975.7796amays@realtyamongfriends.com NRDS: 90051977

Jennifer BurnsRealty Executives Integrity (1st Term)810 Cardinal Ln, Suite 110Hartland, WI 53029-2390O 262.369.8900 M 262.617.9333jennifer@realtyexecutives.comNRDS: 90076496

Tom SykoraColdwell Banker Residential Brkrge (1st Term)11303 N Port Washington RdMequon, WI 53092-3411O 262.241.4700 M 262.573.7323tom.sykora@cbexchange.com NRDS: 90023055

Amy CurlerFirst Weber Group (1st Term)1720 Clarence CourtWest Bend, WI 53095-8543O 262.335.6280 M 414.550.6849acurler@firstweber.com NRDS: 90019647

Kaye ErdmanFirst Weber Group1720 Clarence CtWest Bend, WI 53095-8543O 262.335.6280 M 262.707.4966kerdman@firstweber.com NRDS: 90082569

At LargeTo Be Appointed By Chair-Elect

(Term Exp 12/31/2015)

At LargeTo Be Appointed By Chair

(Term Exp 12/31/2016)

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2015 GMAR Meetings & Events CalendarUpdate: May 7, 2023

January1 GMAR Fiscal Year begins6 GMAR Orientation 8 GMAR Executive Committee Meeting/Conference Call 13 GMAR Economic Summit 15 GMAR Board of Directors Meeting – 12:00 Noon, GMAR Headquarters 22-23 WRA Board of Directors Meeting – Madison Club, Madison, WI26 February Newsletter Deadline27-30 Inman Connect – New York, NY TBA GMAR Youth Foundation Board Meeting – GMAR

February1 Super Bowl3 GMAR Orientation 16 GMAR Audit – Wegner & Assoc.23 March Newsletter Deadline

March3 GMAR Orientation 11 REALTOR® & Government Day – Monona Terrace, Madison, WI 12 GMAR Executive Committee Meeting/Conference Call 15 Youth Foundation’s St. Patrick’s Day 5K – Hart Park, Wauwatosa, WI19 GMAR Board of Directors Meeting – 12:00 Noon, GMAR Headquarters20-29 91st REALTORS® Home & Garden Show – Wisconsin Expo Ctr, West Allis, WI23 April Newsletter Deadline

April1-3 COVE MLS Meeting – Baltimore, MD7 GMAR Orientation TBA GMAR Youth Foundation Board Meeting – GMAR27 May Newsletter Deadline 29-5/1 RealTrends Gathering of Eagles – Denver, CO30 GMAR Executive Committee Meeting/Conference Call

May1 WRA Board of Directors Meeting – WRA Headquarters5 GMAR Orientation 7 MLS Board of Directors Meeting 7 GMAR Board of Directors Meeting – 12:00 Noon, GMAR Headquarters12-16 NAR Mid-Year Meetings – Washington, D.C.22 Deadline for NAR Committee Applications26 June Newsletter Deadline

June2 GMAR Orientation 6 Downtown Diggs15 Brewers Bash – Miller Park, Milwaukee, WI18-19 WRA AE Conference – Arbor Vitae, WITBA Budget Review 22 July Newsletter Deadline (announce GMAR BOD Applications)

July1 GMAR BOD Candidate Applications available to members

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7 GMAR Orientation 9 GMAR Executive Committee Meeting/Conference Call TBA GMAR Youth Foundation Board Meeting – GMAR16 GMAR Board of Directors Mtg – Ironwood Golf Course16 GMAR Summer Golf Outing – Ironwood Golf Course27 August Newsletter Deadline30-31 WRA BOD Meeting – Madison, WI

August4 GMAR Orientation 10-11 NAR Leadership Summit – Chicago, IL13 Kettle Moraine Council Golf Outing – Scenic View CC, 4415 Club Dr, Slinger, WI24 September Newsletter Deadline28 GMAR Nominating Committee Meeting – GMAR Headquarters31 Last day for GMAR BOD Candidates to submit Applications

September1 Nominating Committee notification of BOD Candidates to membership1 GMAR Orientation 10 GMAR Executive Committee Meeting/Conference Call 10 MLS Board of Directors Meeting15-16 WRA Convention – Wisconsin Dells, WI 17 GMAR Board of Directors Meeting – 12:00 Noon, GMAR Headquarters22 October Newsletter Deadline30 GMAR Board of Directors Write-In Candidate Deadline

October6 GMAR Orientation TBA GMAR Youth Foundation Board Meeting 11-17 GMAR Board of Directors e-Election26 November Newsletter Deadline

November 3 GMAR Orientation 11-16 NAR Convention – San Diego, CA 12 GMAR Executive Committee Meeting/Conference Call 19 GMAR Board of Directors Meeting – 12:00 Noon, GMAR Headquarters19 GMAR Youth Foundation Annual Meeting – 11:30 AM, GMAR Headquarters23 December Newsletter Deadline

December1 GMAR Orientation3 Chairwoman’s Holiday Party & GMAR Annual Mtg – Potawatomi Hotel & Casino10 WRA Management Conference – Marriott Hotel, Waukesha, WI21 January Newsletter Deadline31 GMAR Fiscal Year ends

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