Aug. 1, 2011 - Board of Directors Checklist Tool for Realtor Associations
I hate to remind you, but it's August 1 and time for the annual Realtor association identity crisis we celebrate: the election and installation of new directors and officers. And if that weren't enough, most Realtor associations are also billing dues, setting budgets, and orienting and training new leaders. Members themselves may be getting a little testy as they take stock of the successes (and lack thereof) of the summer selling season. In my area of the country, at least, it won't be all that long before the real estate inventory will be covered with snow....
In the midst of the mayhem, it's time for reflection and planning. In an earlier blog I mentioned the need for an annual calendar. Here's another tool which may help AEs focus on strengthening their associations and ready them for the challenges of the coming year.
Checklist to Evaluate a Realtor® Association Board of Directors*
1. The roles of the Board and the AE are defined and respected, with the AE delegated as the manager of the organization's operations and the board focused on policy and planning
2. The AE is recruited, selected, and employed by the Board of Directors. The board provides clearly written expectations and qualifications for the position, as well as reasonable compensation.
3. The Board of Directors acts a governing trustee of the organization on behalf of the membership while carrying out the association’s mission and goals. To fully meet this goal, the Board of Directors must actively participate in the planning.
4. The board's nominating process ensures that the board remains appropriately diverse in the areas of gender, ethnicity, membership status, and skills and/or expertise.
5. The board members receive regular training and information about their responsibilities.
6. New board members are oriented to the organization, including the organization's mission, bylaws, policies, and programs, as well as their roles and responsibilities as board members.
7. Board organization is documented with descriptions of the board and board committee responsibilities.
8. Each board member has ready access to a board operations manual.
9. If the organization has any related party transactions between board members or their family, they are disclosed to the board of directors, the Internal Revenue Service and the auditor. Conflicts of interest are articulated and documented.
10. The organization has at least the minimum number of members on the Board of Directors as required by its bylaws or state statute.
11. If the organization has adopted bylaws, they conform to state statute and NAR policy and have been reviewed by legal counsel.
12. The bylaws should include: a) how and when notices for board meetings are made; b) how members are elected/appointed by the board; c) what the terms of office are for officers/members; d) how board members are rotated; e) how ineffective board members are removed from the board; f) a stated number of board members to make up a quorum which is required for all policy decisions.
13. The board of directors reviews the bylaws and operating policies.
14. The board has a process for handling urgent matters between meetings.
15. Payment to board members should be documented and conform to an approved policy identifying reimbursable out-of-pocket expenses.
16. The association maintains a conflict-of-interest policy and all board members and executive staff review and/or sign to acknowledge and comply with the policy.
17. The board has an annual calendar of meetings. The board also has an attendance policy such that a quorum of the organization's board meets at least quarterly.
18. Meetings have written agendas and materials relating to significant decisions are given to the board well in advance of the meeting.
19. The board has a written policy prohibiting employees and members of employees' immediate families from serving as board chair or treasurer.
Indicators ratings: E=essential; R=recommended; A=additional to strengthen organizational activities
This checklist has been adapted from the Greater Twin Cities United Way.As always, feel free to contact me for additional help, or post your comments and questions to this website!
Monday, August 1, 2011
Board of Directors Checklist Tool for Realtor Associations : Off Stage