Midwest Real Estate Data (MRED) members recently voted to remove term limits for its Board of Managers.

The measure was approved by a 34-22 vote last week at the organization’s annual owners meeting in Oak Brook. Thirteen members dialed in remotely to vote on the measure. The rest voted in person at the meeting. MRED’s parent company MLSNI would still need to approve the change before it becomes official.

During a lively discussion before the vote, members on both sides of the issue weighed in. 

Those in favor of keeping the term limits liked the opportunity to bring new faces, viewpoints and ideas to the board. They said anyone who leaves the board due to the term limit is free to run again after a short time off the board.

Those who wanted to eliminate the term limits talked about the need, now more than ever, to keep institutional knowledge and consistency on the board. They noted that members have the opportunity to vote in new board candidates as they see fit, even without term limits.  

The Board of Managers includes 13 brokerages, two Realtor association executives and two strategic managers. 

Three members were on the verge of facing the end of their service on the board of managers due to the term limits rule. At the meeting, they chose not to speak on the matter to avoid swaying the vote or making the issue about them personally. 

Nearly all members who spoke said their views were related only to the issue at hand and not directed toward the three board members whose terms were reaching maximum service.