Residential Division growing by leaps and bounds.

REBNY's Residential Division has truly grown by leaps and bounds in the last several years and has greatly contributed to a new record for the organization; altogether REBNY has 11,000 members beginning the year 2006.

REBNY has always been a trusted resource for residential real estate agents in Manhattan, and that is all the more true today. We continue to provide services, networking opportunities and information that industry professionals can use to help establish and grow their business.

REBNY's Residential Listing Service or RLS, provides an uncomplicated and efficient way for sharing exclusive listings. When brokers share listings there is more of an opportunity to easily match a seller with a buyer, which greatly aids the consumer. Many of our member brokers have confided that the RLS has helped their sales increase significantly because of its ease of use.

In terms of management, the Residential Division is governed by a 13-member Board of Directors that is elected by members. What sets REBNY apart from other trade groups, is that the Board gives equal representation to small, medium and large size residential firms. The elected leaders are from all types of firms from the smallest businesses, where there may be only one broker, to the largest firms with hundreds of brokers. Equal representation, through a structure of four classes, helps all of the members benefit from being a part of REBNY.

Another benefit that sets REBNY apart is the hands on management of the Board of Directors. Our meetings focus on important issues in our industry and what it takes to buy and sell in Manhattan.

And the proof of the division's growth is that we're entering other areas where we've never had a presence before. We now have a substantial membership in Brooklyn through our Brooklyn committee, and as the market dictates we will move into other boroughs accordingly. With all of the residential activity in Queens, we could start a committee there as well in the near future.

Another important benefit of being involved with REBNY is information. While each of the major firms provides market reports about what's going on in the industry, no one firm offers the comprehensive data found in REBNY's quarterly cooperative and condominium reports. REBNY's reports, which compile data from member firms both large and small, have the most inclusive data that offers the most accurate picture of trends in the market.

Classes, seminars and networking events are other important benefits of REBNY membership. The salesbroker licensing courses have been overwhelmingly popular in the last year. In addition, our series "The Inside Secrets of Top Brokers" has had record attendance and a variety of accomplished panelists. All of the Residential Division's events have been well-attended this year and we know that the members see a benefit in learning more about the business and networking with their peers.

Furthermore, as a group of professionals, our division is top notch when it comes to civic responsibility. The Residential Deal of the Year Gala--the biggest night in residential real estate--annually raises several hundred thousand dollars for important housing charities. This year was no different. The event raised more than $100,000 for three important charities, including Hurricane Katrina relief. We've also established the Member in Need fund which has helped several of our brokers through difficult financial situations since it was created in the early 1990s.

Overall, the Residential Division had a great year in 2005 and we look forward to even more success in 2006. We thank our members for their participation in all of our initiatives this year, and for their time and commitment to REBNY.