2006 Year in Review

2006 was a busy year for the Columbus Board of REALTORS®! The excellent activities planned and executed by CBR's leadership and 30 member committees are too numerous to mention. But we'll try to hit the highlights?

Membership

As of 10/26/06, CBR's membership was 7,424 (7,223 last year, same time), which includes 727 new members (831 last year). The Columbus Board of REALTORS® is the largest Board in Ohio and ranks 40th in size in the National Association of REALTORS® (of 1445 local Boards/Associations.)

Home Sales

2006 will be known for some time as the year listings went through the roof. Residential inventory reached a record all time high at 18,859 in July and shot up to as high as 29.3 percent higher than 2005. Experiencing a slow but steady decline, inventory was less than 15 percent higher than last year at the end of October.

Although sales in the 1st quarter of 2006 were well ahead of last year, sale dropped off throughout the summer and fall so we ended October with 22,672 sales - 3.7 percent behind 2005. At this point, 2006 is set to be the third highest year on record for sales.

The average sale price is down 1.7 percent from last year. The average price of a home in central Ohio is $175,703.

BRAC

The Builder/REALTOR® Alliance Committee (BRAC) had an active year as it explored some of the finishing touches used to complete a new home. This group also sponsored two new build bus tours shuttling about 100 each trip to the southwest and northwest quadrants of Columbus.

Budget & Investments

CBR's Treasurer Greg Hrabcak reported to members at the Board's Annual Business Meeting that the most significant trend affecting the Board's budget the past two years is the number of new members. CBR had over 1,040 new members last year, has over 720 new members this year, and our Board and MLS now provide services to over 7,040 REALTORS® in over 850 offices. Because of this growing membership, the Board's overall financial position is strong. Two additional occurrences this year for MLS include the discontinuance of MLS books and the introduction of fines. Income from all MLS Fees, including those fines is used to pay the costs of our MLS system and to set aside a reserve to pay for future new technology and products when we need them. The increase in MLS membership, along with the Board's, has helped spread the costs over a greater number of members and kept fees comparatively low.

Overall, following the recommendations of the Budget, Finance and Investment Committee, the Board has been able to add needed reserves, pay off the mortgage on the Membership Headquarters, AND set aside a special cash reserve that is earmarked to offset the need to increase CBR's local dues in the future. During the year the Budget, Finance & Investment Committee also reviewed the Board's annual audit, and kept a watchful eye on the Board's invested reserves.

Affordable Housing

The Affordable Housing Committee held its second Super Sunday Affordable Housing Open House on Sunday, May 7, 1-4 pm, which featured more than 150 homes priced $125,000 and below. REALTORS® all over Central Ohio and surrounding counties were on hand to showcase homes and discuss with prospective homebuyers their specific housing needs. Also, the partnership with the Columbus Public Schools kicked off its first homebuyer workshop at Eastmoor Academy.

The committee offered two continuing education classes, five roundtables with continuing education credit; and participated in the Minority Homeownership Expo. Roundtables on Bidding on HUD Homes; Termite inspection (What's Bugging You?; CHP; FHA 203k Streamline: In and Outs; OHFA Bond Money; Risk Assessment; and Credit Scoring, were also held.

Community Outreach Programs

This year, CBR continued its endeavor to reach out to the public with information on home buying with booths at the Columbus Urban League's Minority Homeownership Expo and at the Columbus Public Schools Parent/Teacher Consultants meeting, which drew over 300 parent consultants. Home buying packets were provided at both events.

We partnered with the Columbus Housing Partnership (CHP) on our second annual REALTOR® Care Day. In addition to one major project on N. 21st St., four other area realty associations participated with community services projects in their own communities. Over 150 members and community volunteers helped spruce up and improve properties in five different areas around central Ohio.

During the kick-off of National Homeownership Month, we celebrated the groundbreaking of a Habitat home located at 49 Schultz Avenue in the Franklinton area. This home is the first new construction in the Franklinton area in over 40 years.

Our popular investment seminars: Part I The ABCs of Investing in Real Estate and & Part II How to Enhance your Real Estate Portfolio were both offered twice this year providing prospective real estate investors step-by-step instruction on finding, purchasing and maintaining investment property.

Two Real Estate Career Nights gave prospective new agents an opportunity to learn about the industry from people already in the industry. Those in attendance were provided information on opportunities, skills needed to be successful, licensing, testing requirements and the CBR post-licensing Grant Program.

REALTOR® Foundation Fund

Established as a fund of the Columbus Foundation, the REALTOR® Foundation Fund mission is to support qualified real estate-related programs and entities whose goals are to improve the overall real estate environment in Central Ohio. Guided by the Advisory Board, and supported by several sub-committees, the fund has raised $42,000 so far through continued support of many members and others in related fields, and has been able to provide important support to several entities.

Earlier this year the Scholarship Committee granted three general scholarships to Chad Pinnell, pursuing a MBA in real estate at The Ohio State University Fisher College of Business, Michael Sliemers, Jr. and Shannon Pletsch pursuing degrees in real estate from Columbus State. Justin Andrix and Robert Rouault were awarded scholarships through The John P. Hondros Scholarship Award program to pursue their sales license. Our REALTOR® Foundation was able to help some very worthy projects in Central Ohio this year, including Creative Living, the Homeless Families Foundation General Fund, Material Assistance Providers and the Greater Linden Development Corporation.

Growth in the fund was fostered through improved communications, and the hard work of the Annual Campaign Sub-Committee, who conducted the Fourth Annual Celebrity Waiters Luncheon and Live Auction, featuring quite a few local sports, TV and government leaders including emcees Gabe Speigel and Yolanda Harris, WBNS 6TV. All proceeds from the event benefited the REALTOR® Foundation Fund.

New Member Mentoring Sessions

The Mentoring Sessions are designed to help our new members network with one another and with veteran REALTORS® on topics of interest. Discussions this year focused on: Tax Planning & Budgeting for Newly Licensed Agents; Prospecting: Innovative Ideas/Power of Networking; Working the Investment Property Market; Successful Listing Presentations; Introduction to Commercial Real Estate; Becoming Technically Competent; The Art of Negotiating, Conflict Avoidance & Resolutions; Legal issues/ Fulfilling your Fiduciary Obligations; Learning to live as a commission-based independent contractor; and Writing a Business Plan.

Kudos to our mentors for their commitment to sharing their expertise with new agents _Vadim Barash, Joe Barone, Rick Benjamin, Rich Brown, Elton Davis, Joe Evans, Tom Goetz, Mekel Henderson, Greg Hrabcak, Darryl Isabel, Joe Jackson, Terry Jordon, Brian Kemp, Darla Luebbe, Sue Lusk-Gleich, Gretchen McKay, Chris Reese, Sarah Walsh, Beverly Woodford, and Jamie Zitesman.

CORPAC Fundraising

The Central Ohio REALTORS® Political Action Committee, over 70 members strong and co-chaired by Chip & Sue Parrish, Kathy Bornhorst and John Royer, established goals in 2006 to increase member participation, to work more closely with the area associations, and to raise $150,000. They once again used the spirit of our Ohio Association's theme - Protecting the American Dream.

The committee conducted two fundraising events - the May auction and the September golf outing - to augment the voluntary contributions members send in with their dues payments.

Nearly, 2,100 members included voluntary contributions of $41,761. The auction, held during May in the Grand Ballroom of the Hyatt Regency Hotel was successful, with 500 in attendance and over $56,000 raised. The September golf outing, held at Foxfire Golf Club located south of Columbus, filled all 36 holes on the course for a shotgun start having at least two golfing foursomes on every hole, and raised over $28,000.

The committee spread the word throughout the membership that CORPAC efforts are indeed important to everyone related to our industry, and that supporting CORPAC is one way that every member can help Protect the American Dream.

Awards

This year's Broker of the Year Award went to Skip Weiler. Sue Lusk-Gleich was honored as Salesperson of the Year. Jack D'Aurora received the Instructor of the Year award. Larry Wolpert received Citizen of the Year. And David Dewey was honored as Affiliate of the Year.

Ten members were recognized for 50 years of CBR membership, 59 for 40 years, and 45 others were recognized for 25 years of CBR membership.

CBR's Volunteer Service Award was presented to Baron Bishop, C. Alice Buckley, Grag Hrabcak, Milton Lustnauer, and Lari Madosky Shaw.

A total of 82 members will be receiving $1 (34), $5 (25), $10 (16) or $25 (8) million dollar club awards at the upcoming President's Ball. In addition, 5 members will be receiving the Lifetime Achievement award for their outstanding sales production as well as their long-time commitment to the Columbus Board of REALTORS®.

The Spotlight on Community Service award is given to members throughout the year who are volunteering their time to benefit the community. In 2006, this award was bestowed on: Lisa Bueche, Newton Burris, Dawna Ealy, Carl Faehnle, Jr., Mary Jo Fetch, Cynthia Gatewood, Betsy Harper, Liz Hixson, Diane Johnson Boyhan, Emily Meacham, Cecilia Roman, Dot Pasden, Connie Russell, Cathy Schwandt, Jody White and Leslie Zimmerman.

Multiple Listing Service

Through your recommendations and comments have come this year's changes to your MLS for 2006. The following system enhancements have been completed:

^l Improved data integrity by having CBR TEMPO? system automatically notify REALTORS® to review and
   update status of property in contract for 6 months.
^l Improved data integrity by allowing only one entry for each listing thereby encouraging the use of the
   alternate use data field
^l Expanded short report formats to include one with directions and one with remarks
^l Approved the addition of new features garden/soaking tuband hot tub
^l Approved development of new area ILR (Indian Lake Region) for Logan County
^l Approved development of five new areas for Pickaway County, PNE, PNW, PSE, PSW and PCI (Pickaway
   County Circleville corp limits)
^l Approved Fines for Violation of MLS Rules and Regulations and Policies
^l Added a new data field Variable Rate Commission with Y/N required entry
^l Added the option for REALTORS® to include Unbranded Virtual Tours to Buyer Full and Buyer Short Reports
^l Approved WolfNet as preferred MLS Vendor for Web Site Developer for Brokers where MLS data does
   not reside on their servers
^l Approved new data field for Agent Remarks for REALTORS® only to view comments about the property
   separate from existing Remarks data field
^l Revised the IDX Web Site Guidelines to conform to NAR recommendations.

Suggestions and comments concerning your CBR TEMPOTM system are welcome and encouraged to be submitted to your MLS Committee as many of the enhancements are a direct result of such input.Watch for others early 2007.

Thanks for sharing your ideas and we hope the results have served to make the system more useful for you and your clients. Please know those efforts will continue in 2007.

Commercial Section

Early in the year, Commercial Awards were presented to: John Hall and Randy Stephens for the Largest C/I Transaction; Mike Linder, Andy Jameson and Greg Weber for the Most Unique C/I Transaction; Bob Deis and Randy Jackson for 1031 Exchange Transaction; and Shane Woloshan, Rookie of the Year. In addition, the following 11 commercial members were recognized as Top Producers: John Boll, John Hall,Wayne Harer, Dax Hudson, Andy Jameson, Mike Linder, Don Roberts, George Stecz, Randy Stephens, Richard Trott and Skip Weiler. The Erika Blumenstein Memorial Award for outstanding community service went to Bruce Massa.

Introduction of the Central Ohio Commercial Information Exchange (COCIE) was the biggest news for commercial members in 2006. It was created to assist commercial real estate firms wrestling with the administration nightmare of keeping data current, accurate & consistent from one data provider to the next. With the help of many, CBR merged its commercial listings with those from CCIIR and CRex/Xceligent to become COCIE.

COCIE is unique in that it is a property database versus a listing database which means that there are many properties in the system which are not actually listed for sale or lease. As of this printing, there were 11,714 properties in the database, 3,861 of which are listed for sale/lease.

Since its inception one year ago, COCIE has grown from 250 members to 521 members (as of 11/16/06).

Twelve C/I Luncheons provided 1-2 hours of continuing education credit on topics such as: Government Financial Incentives, Sustainable Design, Paving the Way, with ODOT; Commercial Purchase Contract, Airports & Intermodal Development Update, Delaware County Auditor's Website, Environmental -- Brownfield Remediation of the Former A.C. Humko Property (Harrison West) and ODOD financial projects; as well as commercial development updates in Delaware, Dublin, Grove City, Hilliard, Union County.

Farewell

This year, we bid farewell to two long time CBR products -- the Real Estate Weeklyand the MLS Book.

The Real Estate Weeklywas the board owned homes publication since its inception in March of 1995. It was created as a member service to provide a cost effective advertising vehicle for members to use. However, due to the number of homes publications that have been introduced into the market and the competition with online for the advertising dollar, member support has declined steadily over the last few years. For this reason, the publication was discontinued.

The ever handy, ever popular MLS book met with a similar fate. CBR began publishing MLS books in 1974. However, better technology has made access to the MLS much easier and faster thereby causing MLS book sales to dwindle and consequently book costs to skyrocket. It finally became to expensive to continue.