CENTRIS ACTIVITY REPORT

Transcription

1

2 WELCOME

3 CENTRIS ACTIVITY REPORT

4 Annual General Meeting Greater Montréal Real Estate Board April 15, 2015

5 Your Resource Centre

6 GMREB and Centris Greater Montréal All of Québec

7 Mission To provide and manage real estate information and technology solutions so that members can successfully meet their business objectives

8 Centris Offering

9 Information for Members

10 Training, more training and even more training! More than 36,376 views already!

11 Centris Help Desk Open 365 days a year Monday to Friday: 8 a.m. to 9 p.m. Saturday & Sunday: 9 a.m. to 5 p.m. Holidays: 8 a.m. to 9 p.m.

12 Centris Governance Centris is 100% owned by the GMREB Discussions with the Chambre immobilière de Québec Governance = Centris Committee 9 members (6 appointed by the GMREB, 3 appointed by the QFREB) The Centris Committee makes recommendations to the GMREB Board of Directors Centris invoices the real estate boards The real estate boards invoice their members

13 Centris Committee ( )

14 You can t stop progress Technology is playing an increasingly important role in our lives and it is no different for our profession

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16 The largest players in our industry

17 And our profession?

18 The important issues Looking ahead Current and future roles of Centris Centris and mobility Centris and social media How to keep up with rapid evolution Passerelle Redirection Current revision of this dossier Transfer of data to third parties Revision of pricing Centris.ca New site and usage statistics for members

19 And what s to come? Current projects

20 Matrix New version March 10 Many improvements Cross property, CMA, etc. Time of year and "print" button Tutorials and webinars Post-implementation (48 anomalies 8 currently being resolved) Metric vs. imperial Improvement of the Open House section Other additions: (4-page client reports, etc.) Another new version Launch of the "Listing Notes" function

21 Matrix What are "listing notes"? YOUR CLIENTS take notes about the properties they re interested in YOU can read these notes and interact with your clients

22 New Immocontact application

23 Username and Password Review of appraiser access A unique code for staff Implemented in Mauricie A few pilot projects Fall of 2015 for everyone Consequences of sharing Revision of the rules (QFREB and real estate boards) Consequences We are following some brokers closely

24 New Centris.ca

25 Thank you!

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27 BREAK

28 OPENING OF THE GMREB ANNUAL GENERAL MEETING

29 BOARD OF DIRECTORS

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31 Policy Statement Regarding Competition (in French) La Chambre Immobilière du Grand Montréal (CIGM) est un organisme à but non lucratif regroupant la presque totalité des courtiers immobiliers du Grand Montréal La mission de la CIGM est de promouvoir et protéger activement les intérêts professionnels et d'affaires de ses membres afin qu'ils accomplissent avec succès leurs objectifs d'affaires La CIGM n a pas pour but de jouer un quelconque rôle relativement aux décisions affectant la concurrence entre ses membres. En conséquence la CIGM a pour politique de n intervenir d aucune façon dans les décisions concurrentielles de ses membres Les membres, les administrateurs, les dirigeants et les employés de la CIGM réaffirment à travers cette politique leur soutien indéfectible au principe de protection de la concurrence mis en place par la Loi sur la concurrence (Canada), ainsi que leur intention claire de respecter en tous points les dispositions de cette loi Le respect des dispositions de la Loi sur la concurrence (Canada) est une responsabilité individuelle qui incombe à chaque membre de la CIGM Les administrateurs, dirigeants, employés et présidents de comités de la CIGM ont pour directive de s assurer que la présente politique soit divulguée et entérinée par tous les participants aux réunions de la CIGM qui sont conduites sous leur autorité

32 ADOPTION OF THE AGENDA

33 APPROVAL OF THE MINUTES OF THE 2014 ANNUAL GENERAL MEETING

34 UPDATING OF GENERAL BYLAWS

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36 UPDATING OF GENERAL BYLAWS

37 Background Bylaws that are several years old Adapted on a case-by-case basis over the years Governance principles have evolved over time Outdated terminology New Real Estate Brokerage Act in 2010

38 Objective Update bylaws based on new governance and regulatory realities

39 Process Creation of a Governance and Ethics Committee Close to ten working meetings Advised by Claude Béland of Mouvement Desjardins and by the IGOPP (Institute for governance of private and public organizations) Accompanied by a legal advisor specializing in governance

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41 Process (cont d) Consultation among members February 23 to March 10, comments received Majority of comments were integrated into the final version

42 GENERAL BYLAWS: HIGHLIGHTS

43 Banners (for the purposes of election to the Board of Directors) To be considered a banner, for the purposes of these bylaws, a banner must have at least 5% of members Members who are not represented by a banner are grouped under the banner "Other" A maximum of 4 directors from the same banner A maximum of 2 directors from the same agency * Mechanism in place in the event that a director changes banner during the course of his or her mandate

44 The Board of Directors Duration of mandate President (maximum of 4 consecutive years) A first mandate of 2 years A maximum of 2 subsequent mandates of 1 year

45 The Board of Directors Duration of mandate Vice-president and Treasurer A first mandate of 1 year A maximum of 3 subsequent mandates of 1 year

46 Committees Creation of the Human Resources Committee The following committees were already in place: - Audit and Finance Committee - Electoral Committee - Governance and Ethics Committee - Centris Committee - Group Committees

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48 Member Categories Current version Active members Associate members Honorary members New version Member agencies Member brokers Category abolished * Member brokers who are self-employed are considered member brokers

49 Members Removal of mortgage brokers who hold a restricted licence

50 Member Assemblies Annual General Meeting Possibility for a member to present and discuss a topic at the annual general meeting, in an advisory capacity

51 Next Steps Revision of letters patent Revision and publication of all policies

52 QUESTIONS

53 Resolution At the proposal of Diane Ménard, it is resolved to ratify the General Bylaws of the Greater Montréal Real Estate Board as presented.

54 AUDIT AND FINANCE COMMITTEE REPORT AND FILING OF FINANCIAL STATEMENTS for the period of January 1 to December 31, 2014

55 Audit and Finance Committee Report Overview of the Audit and Finance Committee Independent auditors report Presentation of 2014 financial results Collège de l immobilier du Québec Overall financial health and 2015 budget summary Independent auditors for 2015

56 Overview of the Audit and Finance Committee Composition of the Audit and Finance Committee

57 Overview of the Audit and Finance Committee Role and responsibilities Supervision and communication of financial information and integrity of financial reports Relationship with independent auditors Effectiveness of internal controls Compliance with legal and regulatory requirements Identification of serious risks Analysis of special dossiers

58 Overview of the Audit and Finance Committee Specific issues addressed in 2014 Valuation of Centris service offering to real estate boards - Fair selling price of Centris services between boards Adoption of new policies - Appointment of independent auditors - Treasury management Selection of an independent auditor in accordance with the policy

59 Independent Auditors Report Opinion on consolidated financial statements

60 Presentation of 2014 Financial Results Change in the number of members Summary of differences between actual vs. budgeted results for 2014 Statement of operations - GMREB Operations - GMREB Advertising fund Overall financial situation GMREB consolidated

61 Presentation of 2014 Financial Results Change in number of members 2004 to 2015

62 Presentation of 2014 Financial Results Change in number of members Réel Budget

63 Presentation of 2014 Financial Results Summary of differences between actual vs. budgeted results for 2014 Actual surplus of $43,832 for the GMREB vs. budgeted deficit of $276,835 Derivative products higher than expected Communication expenses lower than expected Professional fee expenses lower than expected Salary expenses lower than expected System maintenance and improvement expenses higher than expected

64 Presentation of 2014 Financial Results GMREB Statement of Operations Operations Revenues - Statement of Operations GMREB Operations GMREB Operations Variation Revenues $ % Member dues $ $ ( ) -2,1% Training ,5% Other revenues (35 097) -1,5% Administrative fees (27 597) -6,3% Membership and transfer fees (458) -0,2% ( ) -2,0%

65 Presentation of 2014 Financial Results GMREB Statement of Operations Operations Expenses - Statement of Operations GMREB Operations GMREB Operations Variation Expenses Salaries and fringe benefits ,1% Centris and other services (18 923) -0,8% System maintenance and improvement ,0% Training ,1% Administrative fees (63 018) -9,5% Building and occupancy ,4% Communications and public relations (46 514) -10,9% Amortization of capital assets (23 736) -7,0% Professional fees ( ) -32,9% Governance (31 670) -15,8% Association activities (22 895) -13,9% (76 315) -0,7%

66 Presentation of 2014 Financial Results GMREB Statement of Operations Operations Statement of Operations GMREB Operations GMREB Operations Variation Revenues $ $ ( ) -2,0% Expenses (76 315) -0,7% Surplus of revenues over expenses $ $ ( ) -78,0%

67 Presentation of 2014 Financial Results GMREB Statement of Operations Advertising Fund Statement of Operations GMREB Advertising GMREB Advertising Variation Revenues $ % Member dues $ $ ( ) -42,2% ( ) -42,2% Expenses Ad campaign ( ) -42,2% ( ) -42,2% Surplus of revenues over expenses - $ - $ - 0,0%

68 Presentation of 2014 Financial Results Overall financial situation GMREB consolidated 1,35 Working capital ratio 100% $ Net assets 1,25 1,15 90% 80% 70% 60% $ 1,05 50% $ 0,95 0,85 0, Breathing room for the GMREB 40% 30% 20% 10% 0% $ $ Members equity

69 Collège de l immobilier du Québec Activities and financial information

70 Collège de l immobilier du Québec Enrollment Registration Registration Students Groups Students Groups Program Residential Commercial Mortgage Total By correspondence Courses Courses

71 Collège de l immobilier du Québec Revenues according to method of training delivery Variation $ % Training Classroom $ $ ,7% Virtual class ,6% By correspondence ,5% Continuing education ,5% Total revenues $ $ ,6%

72 Collège de l immobilier du Québec Statement of Operations Collège Collège Variation $ % Revenues $ $ ,3% Expenses ,0% Surplus of revenues over expenses $ $ ,2%

73 Collège de l immobilier du Québec Evolution of financial results $ $ $ - $ ( ) $ ( ) $ ( ) $ ( ) $ ( ) $

74 Collège de l immobilier du Québec 2015 budget Total revenues $ Total expenses $ Surplus: $ Premises on which the budget is based Anticipated stabilisation in number of students registering for basic training Development and recognition of continuing education Launch of Agency Executive Officer program New lease for Brossard campus

75 2015 Budget Elements 2015 budget - Monthly fee: "Centris services and compliance" 2015 budget summary GMREB consolidated First months of 2015

76 2015 Budget Elements 2015 budget Revenues Revenues - Operations $ Dues - Advertising fund Total revenues Expenses Expenses - Operations $ Ad campaign - Advertising fund Total expenses Deficit: ( ) $ Premises on which the budget is based Projected decrease of 3.26% in the average number of members New sources of external income: investment and rental Overall increase in rates for Centris services charged to boards Salary increases in line with market standards Extension of advertising campaigns

77 2015 Budget Elements 2015 budget GMREB / Monthly fee: "Centris services and compliance" Increase of $1 per month ($49 to $50) beginning on May 1, 2015 (a first since 2015) Justifications - Cover the impact of the end of payments from the OACIQ - InstanetForms - Cover inflation and constant rising costs, as well as the decrease in members Objectives - Maintain the financial health of the real estate board (+ $71k in revenue for 2015) - Maintain investments and the quality of services Change in wording to better reflect the nature of services provided From "Centris dues" to "Centris services and compliance"

78 2015 Budget Elements 2015 budget summary GMREB consolidated Projected deficit of $318,041 for the GMREB Projected surplus of $102,323 for the Collège Consolidated deficit of $215,718

79 2015 Budget Elements First months of 2015 Main premises are still valid - As at April 1, 2015, number of members is in line with the budget - Diligent and vigilant management of costs - Encouraging start to the year for the Collège

80 2015 Independent Auditors Policy on the selection of independent auditors Selection process of independent auditors Results of the selection of independent auditors Appointment of independent auditors

81 2015 Independent Auditors Policy on the Selection of Independent Auditors At the AGM of April 17, 2014, commitment to launch a selection process for the audit of 2015 financial statements Presentation of the policy to the Board of Directors in May 2014 and adoption in November 2014 Policy objectives: - Maintain a healthy independence - Ensure there are effective and efficient procedures for awarding the audit mandate - Obtain quality services at the best price/quality ratio

82 2015 Independent Auditors Selection process of independent auditors Task force was created, reporting to the Audit and Finance Committee Identification of potential firms based on specific criteria 6 major national firms submitted a services offer Evaluation of offers based on an evaluation grid that incorporates criteria weighted according to their importance

83 2015 Independent Auditors Results of the selection of internal auditors Position Firms Qualitative Fee Final KPMG 1 2* 1 RCGT PWC * On average, difference of less than $3,000 per year, over 5 years, compared to 1st position. Based on the work of the Audit and Finance Committee, the conclusion is that KPMG represents the best firm and this choice is in line with: - A beneficial continuity - A diligent approach to risk management

84 2015 Independent Auditors Appointment of independent auditors Sylvain Girard, Treasurer and President of the Audit and Finance Committee, moves to nominate the firm KPMG as independent auditors of the GMREB for the fiscal year ending December 31, 2015.

85 QUESTION PERIOD FINANCES

86 PRESIDENT S MESSAGE ACTIVITY REPORTS

87 2014 Real Estate Market According to Léger Marketing s 2015 Profession Barometer, Quebecer s confidence level in real estate brokers increased by 5 percentage points between 2013 and 2015, with a level of trust rising from 28% to 33% Montréal CMA: difficult start to the year (first 6 months) - Change in sales: - 4% - Change in average price: + 1% More dynamic second half of the year - Change in sales: + 1% - Change in average price: + 3%

88 2014 Real Estate Market Estimated Centris market share Province of Québec 69,8 % 68,5 % 68,6 % 70,1 % Lanaudière 73,7 % 72,4 % 71,9 % 74,1 % Laurentides 74,5 % 71,9 % 72,5 % 74,1 % Laval 77,9 % 75,0 % 74,7 % 80,8 % Montérégie 75,3 % 76,1 % 76,1 % 75,1 % Montréal 78,6 % 77,2 % 76,1 % 74,3 % Source: QFREB study excludes non-centris sales concluded by real estate brokers and new properties

89 Reminder of the 5 strategic directions that guide the actions of the GMREB Promote the added value of real estate brokers Defend the interests of our members and the profession Increase brokers expertise Highlight and increase brokers professionalism Anticipate and influence market changes and take the lead in finding new methods in real estate

90 PROMOTE THE ADDED VALUE OF BROKERS

91 GMREB Advertising The distinct advantages of brokers and centris.ca

92 GMREB Advertising Television Signs (Astral / CBS / Pattison) Radio Print Web

93 Provincial Advertising Collaboration between the 12 real estate boards, the QFREB and the OACIQ Highlights the risks of not using a broker: - Winter: focus on sellers - Fall: focus on buyers The GMREB played a leadership role in managing this dossier

94 Communications and Public Relations Proactive approach with the media Publishing of press releases - Example: nearly 80% of new properties put up for sale are listed on centris.ca with a real estate broker 210 media requests were answered Production of videos for consumers

95 Defend the interests of our members and the profession

96 Involvement at the Provincial Level In collaboration with the QFREB Meeting with the cabinet and Minister Leitao Brokerage act, revision of the law and access to homeownership CSST: several meetings and interventions - Labour Minister Sam Hamad Draft legislation on condominiums

97 Involvement at the National Level 2014: appointment of a GMREB director to the CREA Board of Directors - Daniel Dagenais appointed regional director 2015: a second GMREB director is added - Sylvain Girard appointed regional director - Daniel Dagenais elected director-at-large Continuation of the Code of Ethics and Reciprocity dossiers - Code of Ethics: interpretation by the QFREB and transfer to the OACIQ - Reciprocity: not illegal, but the broker is at risk and may not be covered by the insurance fund

98 Involvement at the Municipal Level Opening of communication channels between organizations Meetings with mayors Coderre and Demers Collaboration in the Discover Montréal s Neighbourhoods event Use of a lobbyist s services Parking dossier (potential pilot projects in Rosemont and Verdun)

99 Ensure Sound Financial Management Rental of the 3rd floor of the GMREB building Elimination of monthly paper statements Competition process for our financial institutions

100 Increase brokers expertise

101 Communications and Public Relations Launch of a press review 5 days / week To better inform brokers of real estate news To better respond to questions from your clients Production of 29 videos

102 Member Training Creation of a guide describing the conferences and training sessions presented by the GMREB and its groups 63 training sessions 44 Mastering Your Centris Tools sessions 37 training sessions in agencies, benefiting 562 brokers

103 Highlight and increase brokers professionalism

104 Brokers Professionalism Advertising on brokers distinct advantages Highlight real estate brokers professionalism during media interviews Private and public satisfaction survey (QSC) Training sessions and conferences

105 Compliance 48,011 brokerage contracts were subject to quality control - 5,001 notices of non-compliance - 2,049 notices of missing information Processing of 8,009 irregularities 19,414 requests for information by telephone (21% increase)

106 Anticipate and influence market changes and take the lead in finding new methods in real estate

107 Looking Beyond Creation of a task force on professional practices - Analysis of some of the forms proposed by the OACIQ Double representation - External study and analysis by the task force Buyer s contract Study on the future of the industry Study on condominiums experiencing difficulties

108 Commercial: A Priority Montréal-Québec partnership Participation of non-member brokers in the Commercial Group s events Advertising fund: $35,000 reserved for commercial advertising - An event for the fall is being examined Review of the agreement with CORPIQ Business plan in development - Attracting new commercial members to the GMREB New centris.ca commercial section to come

109 An invaluable contribution by our volunteers

110 GMREB Groups 2,759 brokers participated in 31 conferences 990 brokers participated in 8 networking activities and occasional happy hours during the year Commercial: five business breakfasts and holiday-time activity (participation by 334 brokers) GMREB 2014 tour

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117 2015 ELECTION

118 Role of the Electoral Committee Ensure the proper conduct of the election process in electing directors Mandate extends from December to March

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120 Electing Directors A democratic process A total of 24 candidates to fill eight vacant positions Election period from March 23 to 27, ,102 members exercised their right to vote (participation rate of 32.8%)

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123 THE NEW BOARD OF DIRECTORS

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125 5 Years as President of the GMREB

126 2010 Highlights The Board of Directors makes listening to members its priority Creation of a task force to improve interaction between the Board of Directors and members Launch of the centris.ca website Launch of an ad campaign that highlights brokers expertise and promotes centris.ca Formal opposition to CREA s increase in dues New chief executive officer appointed

127 2011 Highlights Repositioning the image of brokers - Work with Léger, National and Parallèle Reduced spending continue to offer quality services without increasing dues Representations to CREA: - Return of funds for advertising - Distribution of members data - Addition of à-la-carte services - Review of CREA expenditures Addition of the "envelope" in the extranet

128 2012 Highlights Holding of the Real Estate Summit, which resulted in 5 priorities: - Mandatory training for new brokers - Continuing education - Enhanced collaboration - Accountability of agency executive officers - Precise definition of brokers added value Filing of a complaint with the Competition Bureau regarding DuProprio advertisements Questioning of our CREA membership and consultation among members Permanent return of advertising funds paid to CREA Creation of a task force mandated to review and update the GMREB s bylaws

129 2013 Highlights Brokers distinct advantages (Léger and Jacques Nantel): - Buy or sell at a fair price - Command of legal documents and forms - Increased visibility and traffic - Framework for better protection GMREB s 5 main strategic directions (Claude Béland) Governance: creation of a permanent committee and a treasurer position, review of the process for appointing officers, training for directors Significant gains obtained in the CREA dossier (no FSBO listings on Realtor.ca, decrease in dues) Defending brokers interests with the OACIQ for mandatory training Proactive in public relations (open letters, communiqués)

130 QUESTION PERIOD

131 MEETING ADJOURNED