Join AIRE - Qualifications

Qualifications for Candidacy
(TAKEN FROM BYLAWS, ARTICLE II)

MEMBERSHIP

Section 1: Active Membership.

Eligibility: Active Membership in the Association shall be open to any individual who:

1. is a licensed real estate broker or salesperson in the State of Illinois acting in a third party capacity;

2. is principally engaged in industrial real estate brokerage and has consummated (i) not less than 10 industrial transactions, and (ii) sales and leases of industrial properties totaling not less than $2,000,000 cumulative, both within the 24 month period immediately prior to the making of an Application;

3. has a minimum of two years experience in industrial real estate brokerage;

4. has a reputation for integrity and ability and has established in the community a reputation of real estate practice in compliance with the law and in an honorable manner;

5. agrees to abide by the Bylaws of the Association as well as the Standards of Ethical Practice and Conduct;

6. has attended not less than four (4) regular meetings or functions of the Association within the twelve (12) month period immediately prior to the making of any Application;

7. is sponsored for Membership by two Active Members, both of whom shall have participated in at least one (1) consummated industrial real estate transaction with the Applicant, and both of whom shall be outside of the firm of which the Applicant is a member;

8. has attended, if deemed necessary by the Board of Directors, an AIRE Standards of Ethical Practice and Conduct seminar or an Association approved alternative;

9. has properly completed and signed the Application;

10. has submitted the application fee with the Application, which amount shall be set by the Board from time to time and noted on the Application; and

11. has been approved by the Membership Committee.

B. Eligibility of Managers or Principals: Active Membership is also open to individuals who are managers or principals of an industrial real estate brokerage company or division having a minimum of 10 industrial salespeople. Individual Applicants under this provision need not meet the qualifications described in clauses (2) and (3) of Subsection A of this Section 1 of the Bylaws, but must have 2 years of experience as a manager or principal, and while they must be sponsored by 2 Active Members, neither of whom is affiliated with the Applicant’s firm, the requirement of having cooperated in transactions with the sponsors is waived for this category.

C. Rights: Active Members shall each have one vote on all matters submitted to a vote of the Membership and shall be eligible to serve as officers and directors of the Association.

D. Exceptions: Any or all of clauses (6), (7) and (8) of Subsection A of this Section 1 may be waived by the Board upon recommendation of the Membership Committee, provided it is determined that there are (i) extenuating circumstances, (ii) prior years of real estate activity in Illinois or other states, or (iii) other compelling reasons why the particular Applicant should not be required to meet the particular qualification. A written request for a waiver must be made by the Applicant along with submittal of the Application, including a written explanation offering justification for waiver, and the waiver must be recommended by majority vote of a quorum of the Membership Committee and approved by majority vote of a quorum of the Board prior to the Application’s consideration by the Active Membership. Once the Membership Committee and Board have determined to waive a specific membership requirement, lack of meeting that requirement will not be accepted as legitimate objection to granting or continuing membership.

Active Members admitted to the Association prior to the date of the approval of these Amended and Reinstated Bylaws, who no longer qualify as Active Members under these Amended and Reinstated Bylaws, shall nonetheless remain as Active Members of the Association.

E. Application Procedure:

1. Form of Application: Applications for Active Membership shall: (i) be in writing on the form provided by the Association; (ii) be signed by the Applicant, and, in the case of any Applicant who is a member of a firm, be signed by the manager or a principal of such firm to evidence such firm’s acknowledgment of the provisions hereof; (iii) include recommendations and signatures of two sponsoring Active Members who shall be from different companies; (iv) be accompanied by a non-refundable application fee, and any other documentation or information required by the Application; (v) contain an agreement to abide by all the Bylaws of the Association in force and as enacted from time to time; (vi) contain complete information regarding any complaints filed against the Applicant before any Real Estate Board; (vii) contain consent that the Association, through the Membership Committee or otherwise, may invite and receive information and comment about the Applicant from any Active Member or other persons; (viii) contain an agreement that any information and comment furnished to the Association by any person in response to the invitation shall be conclusively deemed to be privileged and not form the basis of any action for slander, libel, defamation of character or other sort; and (ix) contain an irrevocable waiver of claim against the Association, the Board, any Member or any agent of the Association in connection with the business of the Association and particularly as to its act, or their acts, in admitting, or failing to admit, or disciplining the Applicant as a Member. The Application will also make note of those membership requirements which may be waived, provided waiver has been requested by the Applicant and sufficient cause for waiver has been approved by the Membership Committee and Board.

2. Action on Applications:

i. All Applications for Active Membership shall be filed with the Chairperson of the Membership Committee (“Membership Chairperson”), who, within 30 days of receipt of the Application, shall review the Application to determine whether the Applicant appears to meet the Active Membership requirements. If there is a request of waiver of any requirement, the Membership Chairperson shall call for a vote of the Membership Committee on the waiver, a majority vote of a quorum of the Committee being required for recommendation for or against. The recommendation of the Membership Committee, together with the Application, shall then be submitted to the Board, who must also approve or deny the waiver by majority vote of a quorum of the Board. If the requested waiver is not recommended by the Membership Committee or denied by the Board, the Application shall be refused. In reviewing all Applications, the Membership Committee may request any additional information and may personally interview the Applicant, sponsors or others to obtain it.

ii. Once an Application has been acted upon by a majority vote of the Membership Committee, the Membership Chairperson shall give notice of the Application to all Active Members. This notice shall contain the name of the Applicant, the name of the brokerage company or firm to which the Applicant is affiliated, and the names of the sponsors. The notice shall also contain the following paragraph:

“At any time within ten (10) days after the date of this notice, any Active Member may notify the President and the Executive Director of any written objection to the acceptance of an Applicant. The objection shall state specifically matters which in the view of the objector indicate that the Applicant has failed to comply with any requirements of the Bylaws.”

The names and addresses of the President and the Executive Director shall be provided in the notice.

3. Membership Committee Procedure: The following shall be the rules of procedure of the Membership Committee with respect to Applications subsequent to the serving of notice to the Active Membership and receipt of objections, if any:

i. If the Applicant meets all of the qualifications for Active Membership (and all waiver requests have been approved) and no objections have been raised, or if raised and withdrawn, then the Membership Committee shall recommend approval of the Application for Active Membership by the Board.

ii. If objection to the Applicant has been filed in writing by any Active Member as required above, the President shall notify the Applicant of the substance, but not necessarily the source, of the objection. The Applicant may, if the Applicant wishes, submit additional information intended to satisfy the objection or may withdraw the Application. If neither the Application nor the objection has been withdrawn, the President shall, upon written request from the Applicant, submit all relevant material to the Board for its disposition.

iii. Upon written request from the Applicant, the Board, meeting with a quorum of its Members, the Membership Chairperson, and any objectors, shall review the Application. The Board shall then invite the Applicant to appear in person before the Board to defend against any objections, if the Applicant so desires. A time and place for such appearance shall be set to the convenience of all parties. Any other parties may also be invited to attend this hearing if so desired by the Board. The Applicant is entitled to be accompanied by the Applicant’s attorney or other advocate. The Board, after hearing all relevant information, shall accept or reject the Applicant by a vote of not less than 70% of the full Board. The action of the Board shall be final in all cases.

iv. If an Applicant has been denied Active Membership, the Applicant may not reapply for one year from the date of such denial and must submit a new Application for Membership.

v. The Membership Chairman may elect to delegate some or all of such Membership Committee functions if there is only one (1) Member of the Membership Committee.

4. Admission to Membership: When an Applicant has been approved for Active Membership, the Applicant shall be notified promptly by the Association Administrator and shall be invited to attend the next regular meeting where the Membership Chairperson (or the Chairperson’s or Association’s designee) shall award a Certificate of Membership and any other pins, documents or gifts as may be determined from time to time. The Membership Chairperson shall be responsible for notification to the Association Administrator, who will be responsible to see that the new Member is added to the roster and is billed for such new Member’s pro rata share of the current year’s dues.

5. Ongoing Qualifications: Once a person has been accepted for Active Membership, such Member must continue to meet all the qualifications for Membership as described in Article II, Section 1 of the Bylaws, except that notwithstanding the foregoing: (i) such Member need not continue to consummate the number of deals specified; (ii) such Member’s meeting attendance requirement is waived; and (iii) all requirements specifically relating to Application and sponsorship shall not apply. Active Members must agree to abide by the Association’s website protocol as enacted and amended from time to time.

Section 2: Honorary Membership.

A. Entitlements, Restrictions and Rights: Honorary Members shall remain on the Association’s mailing lists, shall be entitled to voting privileges and all other privileges of Active Members, and shall be allowed to attend all regular meetings of the Association without charge. Honorary Members shall be required to pay the appropriate charges for special functions such as bus tours, Holiday Parties, and special seminars and meetings. Honorary Members shall not be required to pay dues and shall not be required to participate in on-going education and certification programs.

Honorary Members shall abide by the Bylaws and shall be subject to disciplinary action or expulsion as provided for all Members under these Bylaws.

B. Lifetime Membership: Unless expelled, Honorary Members remain Honorary Members for life. Honorary Members, at their option, may request to have their name removed from either or both the mailing list or roster if retired, no longer living in the area, and/or no longer wishing to receive mailings from the Association. Removal from the mailing list does not constitute a resignation from Honorary Membership; however, an Honorary Member may resign at any time by notifying the President who shall be required to accept said resignation if offered.

C. Qualifications: Honorary Membership may, at the discretion of the Board, be awarded to individuals who meet one or more of the qualifications below.

1. Any Active Member who has served as President of the Association 20 years prior to the date of acceptance of Honorary Membership. (e.g. the 1989 President, and all prior Presidents, shall be eligible for Honorary Membership at the beginning of 2009.)

2. Any person who has been an Active Member for at least 20 years, is over 65 years of age, may or may not have served as President, but has, in the opinion of the Board of Directors, offered extraordinary contributions to the Association and the profession.

3. Any current Member in good standing who does not meet any of the above qualifications but has, in the opinion of the Board, made such significant contributions to the industrial real estate brokerage profession as to warrant being honored by this designation.

D. Procedure:

1. Any Active Member may nominate a candidate for Honorary Membership meeting the above requirements by notifying the President. In the case of a 20th year Past President, any person qualifying shall be automatically nominated at the first Board of Directors meeting of the 21st year after such person’s presidency. The President shall bring the matter before a quorum of the Board who shall decide by simple majority vote. The decision of the Board shall be final.

2. If the nominee is rejected, there shall be no public mention or notification, but the nominator shall simply be informed, and the person rejected may not be re-nominated for at least another 12 months. If the nominee is accepted, the President shall contact the nominee to determine if the nominee accepts the designation and if so, shall invite the nominee to attend the next regular meeting of the Association to be presented with an official certificate or plaque and be honored by the Association. If the nominee is not able to attend the next regular meeting, the President shall determine whether to wait for induction at a subsequent, future meeting, or to simply induct in the absence of the nominee and mail the certificate or plaque. It shall be the responsibility of the Membership Committee to see that certificates and plaques are prepared and presented.

Section 3: Associate Membership.

A. Eligibility: Associate Membership shall be open to the following types of companies which are sponsored by at least two (2) Active Members: (i) public utility companies, such as railroads, electric power, gas and telephone companies; (ii) established private industrial districts; (iii) industrial general contractors and developers; (iv) industrial architects; (v) investment companies with major industrial real estate portfolios; (vi) banks; (vii) industrial mortgage brokers; and (viii) other companies engaged in activities directly related to the field of industrial real estate. At no time shall the number of Associate Member companies exceed 30% of the General Membership of the Association. The Board and the Membership Committee shall endeavor to maintain a relatively balanced Associate Membership mix from the foregoing fields.

B. Application Procedure:

1. Form of Application: Applications for Associate Membership shall: (i) be in writing on the form provided by the Association; (ii) be signed by a principal of the Applicant; (iii) include recommendations and signatures of two sponsoring Active Members who shall be from different companies; (iv) be accompanied by a non-refundable application fee and any other documentation or information as may be required by the Application; (v) appoint the initial Designee or Designees; (vi) contain an agreement to abide by all the Bylaws of the Association in force and as enacted from time to time; (vii) contain consent that the Association, through the Membership Committee or otherwise, may invite and receive information and comment about the Applicant from any Active Member or other persons; (viii) contain an agreement that any information and comment furnished to the Association by any person in response to the invitation shall be conclusively deemed to be privileged and not form the basis of an action for slander, libel, defamation of character or other sort; and (ix) contain an irrevocable waiver of claim against the Association, the Board, the Association Administrator, any Committee, any Member, or any agent of the Association in connection with the business of the Association and particularly as to its act, or their acts, in admitting, or failing to admit, or disciplining the Applicant as a Member. The Application will also make note of those Membership requirements which may be waived, provided waiver has been requested by the Applicant and sufficient cause for waiver has been approved by the Membership Committee and Board.

2. Action on Applications:

i. All Applications for Associate Membership shall be filed with the Membership Chairperson, who, within 30 days of the Application, shall review the Application to determine whether the Applicant appears to meet the Associate Membership requirements within 30 days of the submittal of the Application.

ii. Once an Application has been acted upon by a majority vote of a quorum of the Membership Committee, the Membership Chairperson shall give notice of its decision to the President. If there is a request of waiver of any requirement, the Membership Chairperson shall call for a vote of the Membership Committee on the waiver, a majority vote of a quorum of the Committee being required for recommendation of acceptance or denial. The recommendation of the Membership Committee, together with the Application, shall then be submitted to the Board, who must also approve or deny the Application by majority vote of a quorum of the Board. If the requested waiver is not recommended by the Membership Committee or denied by the Board, the Application shall be refused. In reviewing all Applications, the Membership Committee may request any additional information and may personally interview the Applicant, sponsors or others to obtain it.

iii. Once an Application has been recommended by a majority vote of a quorum of the Membership Committee, the Membership Chairperson shall give notice of the Application to all Active Members. This notice shall contain the name of the Applicant, the names of the Designees and the names of the sponsors. The notice shall also contain the following paragraph:

The names and addresses of the President and the Executive Director shall be provided in the notice.

3. Membership Committee Procedure: The following shall be the rules of procedure of the Membership Committee with respect to Applications for Associate Membership subsequent to the serving of notice to the Active Membership and receipt of objections, if any:

i. If the Applicant meets all of the qualifications for Associate Membership (and all waiver requests have been approved) and no objections have been raised, or if raised and withdrawn, then the Membership Committee shall recommend approval of the Application for Associate Membership by the Board.

ii. If objection to the Applicant has been filed in writing by any Active Member as required above, the President shall notify the Applicant of the substance, but not necessarily the source, of the objection. The Applicant may, if the Applicant wishes, submit additional information intended to state the objection or may withdraw the Application. If neither the Application nor the objection has been withdrawn, the President shall, upon written request from the Applicant, submit all relevant material to the Board for its disposition.

iii. Upon written request from the Applicant, the Board, meeting with a quorum of its Members, the Membership Chairperson, and any objectors, shall review the Application. The Board shall then invite the Applicant to appear in person before the Board to defend against any objections. A time and place for such appearance shall be set to the convenience of all parties. The objector, and any other parties, may also be invited to attend this hearing if so desired by the Board. The Applicant is entitled to be accompanied by the Applicant’s attorney or other advocate. The Board, after hearing all relevant information, shall accept or reject the Applicant by a vote of not less than 70% of the full Board. The action of the Board shall be final in all cases.

iv. If an Applicant has been denied Associate Membership, the Applicant may not reapply for one year from the date of such denial and must submit a new Application for Membership.

4. Admission to Membership: When an Applicant has been approved for Associate Membership, the Applicant shall be notified promptly by the Association Administrator and shall be invited to attend the next regular meeting where the Membership Chairperson (or the Chairperson’s designee) shall award a Certificate of Membership and any other pins, documents or gifts as may be determined from time to time. The Membership Chairperson shall be responsible for notification to the Association Administrator, who will be responsible to see that the new Member is added to the roster and is billed for such new Member’s pro rata share of the current year’s dues.

Designees: Any company accepting an invitation for Associate Membership shall appoint at least one (1) but not more than two (2) Designees in the application form. Designees of the Associate Members may attend meetings of the Association when invited, take part in discussions, and advise as to matters pertaining to industrial real estate.
Rights and Responsibilities: Upon acceptance as an Associate Member, the Associate Member and its Designees and all Members of the Associate Member’s company shall be bound by the Bylaws. Associate Members shall carry no voting rights in the Association and a Designee shall not be permitted to serve on the Board or to hold office. A Designee may serve as Chairperson or Member of any committee except the Membership Committee, the Ethics Committee, the Arbitration Committee or the Nominating Committee. Associate Members must agree to abide by the Association’s website protocol as enacted and amended from time to time. The Board may further reasonably limit or restrict other rights of Associate Members and Designees.
Meetings: The Board of Directors has the right to determine that any membership meeting or any portion of any such meeting may be attended only by Active Members.

Section 4: Certificates and Pins. Certificates, pins, emblems and other evidence of Membership shall be reserved for the use of Members only and upon termination of membership, shall no longer be used by terminated Member.

Section 5: Dues and Fees.

A. The application fees and annual dues for Active and Associate Membership will be established from time to time by the Board of Directors. Associate Member shall pay dues for each Designee.

B. Dues will cover standard membership costs, which shall include but not be limited to the regular lunch and dinner meetings of the Association, mailings, electronic mail system and website costs, other administration costs, and the membership directory. The Board of Directors shall designate any additional or special charges for individual events, programs, services or materials that it deems appropriate. Membership dues shall be paid in advance for twelve months during the month of January.

C. A non-refundable application fee shall accompany the Application for Active or Associate Membership.