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MIBOR RISK REDUCTION COMMITTEE

MIBOR RISK REDUCTION COMMITTEE

job description

PURPOSE:

The purpose of the Risk Reduction Committee is to:

  1. facilitate discussion and awareness of risk
  2. determine areas of risk and related potential legal liability facing members
  3. review forms and contracts and suggest updates and/or changes to the Indiana REALTOR Association Forms Committee as needed
  4. create and present educational programing on relevant risk management issues
  5. be aware and proactive in the implementation of laws, rules and regulations that put members at risk and subject to liability
  6. maintain an awareness of future need for changes and how they affect the industry.

STRUCTURE:

The Risk Reduction Committee shall consist of 18 members. Expiring terms will be replaced by selection from volunteer applicants on an annual basis by the MIBOR President and confirmed by the MIBOR Board of Directors as per MIBOR Bylaws Article 13. All members must have a minimum of 2 years’ real estate experience. Committee members serve 3 years with terms beginning in January.

COMPOSITION:

Ensuring that the composition of this committee represents diverse industry disciplines is essential.  Therefore, consideration will be given to various criteria including but not limited to niche, business model, membership type, and industry discipline in an effort to provide a balanced compilation of committee members who will bring their unique perspective to the work. REALTOR members considered for this committee will be Managing Brokers and/or Designated REALTOR as defined in MIBOR Bylaws Section1.3.J-K.  Ideally, the composition of committee members will be a minimum of:

  • REALTOR = 50% of total committee
  • Affiliate
  • Appraiser
  • Property Manager
  • Builder
  • and all MIBOR Members who serve on the IAR Forms Committee

Chair: appointed by MIBOR President. Oversees meetings, serves as main group spokesperson

Vice-Chair: appointed by MIBOR President-Elect. Works in conjunction with the chair.

Staff Liaison: Vice President of Professional Services will serve as a liaison to the committee.

COMMITMENT:

The Risk Reduction Committee generally meets quarterly. Committee members agree to attend all committee meetings.  A member who fails to attend two successive meetings without excuse will be deemed to have resigned, as per MIBOR Bylaws Article 13.2.