Changes to the Million Dollar Club rules

Rules changed for Million Dollar Club

Effective for current application period

Several changes were made to the Rules and Regulations of the CBR Sales Award Clubs which will be in effect during the upcoming application period. Below is a brief summary which addresses ALL of the changes. For actual wording, view/print the complete document.

"Five Transaction Credits" have been changed to "Ten Closings" -- Changed for clarification. (This actually means the same thing.)

Method B eliminated -- Method B allowed applicants to qualify for each award level with a lower dollar volume combined with a much higher number of closings. This method was originally created for the REALTOR® who specialized in the affordable housing price range. However, as no applicant has used this method in years, it has been eliminated.

Team Credit -- Regardless of the number of people on a real estate team, each team member may receive ? credit for any closing. However, in order to receive credit, the applicant must be listed on the certification form. This method of calculation is retroactive to the last award received.

Industry Credit -- now includes service as an OAR Director.

Commission must be paid -- In order to receive credit for any closing, a commission must have been paid to the applicant (or applicant's broker.) Although the amount of commission is not necessary, proof that a commission was paid is required.

Altered/Fraudulent information -- Any application deemed to include altered and/or fraudulent information will be disqualified and the application fee will not be returned.

Condominium Conversions & Subdivision Developments are subject to team rules -- i.e. an applicant using a condo conversion or subdivision development may claim 1/4 credit only.

Referrals -- Outgoing referrals are not eligible for credit. (They never were so this language is being added for clarification.)