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2. 2 2010 Ottawa Real Estate Board President - Pierre de Varennes Good afternoon and welcome to the Ottawa Real Estate Board’s 2010 Annual General Meeting. Welcome and Call to Order

3. 3 “that the agenda for the Annual General Meeting being held on December 2, 2010 be approved.” Approval of Agenda

4. 4 “that the minutes of the 2009 Annual General Meeting be approved.” Approval of Minutes

5. 5 Pierre de Varennes: 2010 President of the Ottawa Real Estate Board. President’s Remarks

6. 6 2010 Board of Directors Pierre de Varennes, President Joanne Tibbles, President Elect Ansel Clarke, Vice President Rick Snell, Past President Tracy Arnett Janie Bilder Joel Edelson Brenda Jensen, a Director until Oct. Tim Lee Linda McCallum David Oikle Campbell Osler Robert Pugh

7. 7 Past Presidents E.N. Rhodes, Jr.* Neta Clarke* John Rogan* Alan Gale* Pasquale Ricciuti* William Lenardon* Philip Downey* Jim McKeown* Roger Beckley* Joe Oneid* David Armstrong Chris Hoare Ray Otten Ian Robertson Robert Dennis Kent Browne Glenda Brindle Jeff Greenberg Ron Levine Diane Hatfield Heather Skuce Rick Snell *Members of Distinction

8. 8 Volunteers

9. 9 Honorary Members Roland Brenning John DeVries John Fraser Phil Girard Eliesa (Hamilton) Jacobsen Eugene Lavoie Sylvia Milne Betty Mohns Leonard Potechin Gaetan Roy Fred Sherwood Joseph Viner John Wentzel Henry Wright

10. 10 Join in a moment of silence. In Memoriam

11. 11 The Directors, recognizing that the agreement with Supra for the provision of the iBox program was coming to an end in less than three years, embarked upon a due diligence process early in 2010. Analysis of usage; Focus groups; A survey Reports being reviewed by the Directors Electronic Lock Box Program

12. 12 Closure of the Ottawa Real Estate Guide Final Issue - September 24, 2010 Print Advertising

13. 13 Launched in 2009 Making MLS® data available to members of participating boards in the province Now used by 17 boards, representing almost 90% of members in Ontario. Project Connect

14. 14 Leading edge of technology with products and services Enhance professionalism of members and promote their value to the public Make the Board valuable to members for more than MLS® services OREB Task Forces

15. 15 Traditionally does not suffer from extreme lows or enjoy the meteoric highs Stable workforce, favourable economic conditions Ottawa - Steady Market

16. 16 Stable membership - 2,631 members 14 honorary members Board Membership

17. 17 New Senior Members David Armstrong Colin S. Weldon Shane Silva Kevin Coady Bobby Devgun Johnny Hunt Ken Plummer Teresa Steenbakkers Frank Rizzo Patrick Creppin Kevin Grimes Linda Ludlow Rob Thompson Brenda MacDonald-Rowe

18. 18 Building Committee The Building Committee works with Board staff to ensure our building at 1826 Woodward Drive continues to be well maintained. This year, the rooftop heating and cooling units were replaced.

19. 19 Special 90 th anniversary Board logo; Open House commemorating the anniversary in July; digitization of some of the Board’s most important historical documents; podcasts of members telling stories from their careers in real estate; historical exhibits featuring photos and memorabilia. Board Celebrates 90 Years

20. 20 the Board contributed approximately $26,000 to the OREA REALTORS Care® Foundation OREB REALTORS Care® Committee received 14 grant applications from local shelter-related charitable organizations endorsed by Senior members or Managers. OREB Annual Golf Tournament

21. 21 Members of the Government Relations Committee attended Political Action Conferences held by both CREA and OREA in Ottawa and Toronto to discuss issues of importance to the real estate industry. Government Relations

22. 22 The Board’s Professional Standards Committee handled 49 written complaints; Of these, 26 were within the Board’s jurisdiction; The Discipline committee held four hearings during the year Professional Standards

23. 23 welcomed ten new members in 2010; the Division held breakfast and lunch information and networking sessions with presentations on the HST, Social Media and Commercial & Industrial Real Estate Financing; continued to promote commercial practitioners through ads on the Ottawa Business Journal’s Website Commercial Services Division

24. 24 MLS® Committee

25. 25 Technology Committee Tech Help Line - launched in mid-November; Assistance with technology questions and problems; Low cost service; initial commitment for this service is one year

26. 26 2010 - Busy and Productive Incoming Board of Directors will continue to… work hard and well on your behalf; ensure the Board remains compliant with competition law; ensure that the integrity of MLS® database is maintained; look forward to adding new tools such as podcasts

27. 27 Year end Financial Statements David Oikle, Chairman of Finance Committee Net surplus of $331,470; Compares to budgeted loss of $73,154; Budgeted for 2,450 members; membership increased steadily over the year ending the year with 2,610 members

28. 28 “that the financial statements for the fiscal year ending September 30, 2010, be approved.” Approval of Finances - 2010

29. 29 “that the firm of McCay, Duff and Company be appointed as the Board’s auditors for the fiscal year 2010/2011.” Appointment of Auditors

30. 30 Amendments to By-Law Joanne Tibbles, President-Elect Presents Proposed Amendments 9:01 – termination of Senior Membership – a recommended rewording only for clarification purposes; 36:01and 38:01, to reflect the change in name of the Code of Ethics and Standards of Business Practice of the Canadian Real Estate Association to the REALTOR® Code of the Canadian Real Estate Association, and: 37:01 – recommended rewording for clarification purposes only.

31. 31 “that the amendments to sections 9:01, 36:01, 37:01 and 38:01 of the By-Law as contained in the spreadsheet provided to members on November 19, 2010, be approved.” Approval of Amendments

32. 32 The following Directors will continue to serve on the Board of Directors to complete their terms of office: Pierre de Varennes who will become Past President Joanne Tibbles who will become President Tim Lee Linda McCallum David Oikle Robert Pugh Returning Directors - 2011

33. 33 Campbell Osler was appointed by the Board of Directors earlier this week to complete the two year term of Brenda Jensen. Josee Biggs is appointed to the Board of Directors for a two year term as the Chairman of the Commercial Services Division. Appointed Directors

34. 34 Three members were nominated by the Nominating Committee to fill three vacancies; the following have been acclaimed for a two year term: Tracy Arnett Ansel Clarke Rick Eisert Senior and Manager Member

35. 35 Additional nominations were received in the Active member category. The following members were elected for a two year term: Janie Bilder Susan Oneid Congratulations to the 2011 members of the Board of Directors. Active Member Category

36. 36 Installation of the 2011 Board of Directors Outgoing Past President Rick Snell will serve as installation officer. 2011 Directors

37. 37 Adjournment Thank you all for your participation in today’s meeting, and for your support throughout the year. The 2010 Annual General Meeting is now adjourned.