Amy Reid

The board never received detailed information on the organization’s financials, operations, or the impact of policies established by the BOD. Board had never been giveb performance metrics to assist in developing policies and direct organization.

Created in-depth monthly reporting with additional membership numbers, financial metrics, monthly progress on strategic initiatives, and achievement of established goals. The CEO report highlighted areas of concern or noteworthy communications metrics, event, and member attendance numbers. Board developed understanding of how to apply performance metrics and financials for organizational improvements.

Found areas of improvement and realized up to $15,000 in lost rents, the need to properly allocate $2.5 million reserves, and appropriate uses of reserves as well as the necessity to consider investments that resulted in a 50% increase in investment income. The data provided $200,000 for participants and the ability to decrease service fees while augmenting services, saving participants $300 to $600 or more each year. Discovered a method for the for-profit company to pay a dividend to the association for the first time in the 20-year history. Helped isolate tax savings and reallocate more than $100,000 in expenses to support member programs.

Performance reviews, salary increases, and bonuses lacked a connection, structure, process, or policies. This resulted in unfair, unbalanced, uncontrolled compensation. In the past, managers determined bonuses and raises without a budget or metrics. Employees all received high scores on performance reviews, but salary increases and promotions did not always align with nearly perfect scores.

Developed a bonus and compensation policy outlining the allocation of salary increases and bonuses each year. Provided the process to the board of directors and to employees to foster understanding of techniques to earn raises based on company and personal performance. Created a job structure with position titles, position grade levels, and salary ranges for each role that allowed employees to grow and earn more money. Implemented a new five-point rating, performance appraisal system, and trained managers on the application of performance evaluations.

This instilled a previously absent sense of fairness to the process, reduced staff and manager angst, and controlled cost increases 50%. The board gained deeper knowledge of compensation and bonuses and expressed support of the new system that allowed members to approve annual bonuses and salary increases. The process boosted employee engagement with satisfaction results in the 90s.

The for-profit, separately held multiple listing service (MLS) operated as a committee and a wholly owned subsidiary of the association. It operated without bylaws or a separate board of directors as required. The association board resisted change and wanted to keep the MLS as a committee to exercise more control.

Collaborated with attorneys and used the National Association of Realtors bylaws as a baseline.

Guided the task force of volunteers to develop new bylaws, an election and formation of a board of directors, and to hold the first election for new board of directors.

Sought to intensify consumer awareness of Realtors while authenticating Realtor associations as an honest source of real estate information. Leadership limited the funds for advertising and branding due to a lack of understanding of the value of earned media.

Researched market statistics and leveraged a spokesperson to support the campaign. Utilized social media within a digital campaign to promote Realtors to consumers. Incorporated videos, updated messaging, and included radio advertising. Engaged a public relations agency to interact with media outlets.

The effort led to a 200% earned media upturn in print, radio, and television, a 20% boost in paid advertising, a 30% spike in web traffic, and an increase in phone calls for interview and stories in local, regional, and national press outlets.

The organization held large reserves in bank accounts and CDs for the non-profit multiple listing service (MLS). The for-profit organization faced negative tax implications due to the amount of retained earnings. The reserves failed to generate income for special projects because of a lack of investment. The board of directors did not understand the problems with accumulating excessive reserves.

Formed a task force to examine the need for operating and capital reserves. Created policy and models for the operating reserve and capital reserve. Established an investment process.

Paid off a loan with excess cash generated after allocation and determination of reserves. Invested $100,000 in technology upgrades as well as $1 million in new investment vehicles, which increased investment earnings 200%.

The development company sold a luxury, non-essential product during a recessed economic situation. Needed to sell memberships to new clubs and work the backlog of waiting lists at established clubs. Prospective members may fit best into a different club, but the sales and marketing team focused only on the new clubs. This resulted in untapped customer potential. The sales team failed to realize that the offering could aid sales across all eight private clubs. Limited funding and human resources hampered the effort.

Suggested a detailed strategy to market the new and previously sold-out clubs that utilized waiting lists for new members. Conceived a signature program to spotlight and promote all eight clubs. Established new membership types and payment plans. Crafted a referral system for local real estate agents and existing members and instilled an incentive program for staff sales of memberships. Investigated trends and innovative offerings in the private club industry.

The programs and strategies accelerated department revenue 53% and minimized waiting lists in the first two years of implementation.