President’s Sales Club Transaction Eligibility
All real estate sales may be claimed for dollar volume claimed or transaction credit, whether residential, commercial or industrial. The terms “sales”, “leases”, and “transactions” are hereafter used interchangeably. Transactions claimed for the 2021 Northwest Ohio REALTORS President’s Sales Club must have been closed between July 1, 2021 – June 30, 2022.
Agent Awards Report
Realtors must use the Agent Awards Report found in Matrix to report residential transactions . Referrals, FSBO’s, residential transactions outside of NORIS MLS and leases may be handwritten at the bottom of the Agent Awards Report.
Commercial transaction may be included on the transaction report from. Transactions must include the date closed, address, listing agent and firm, selling agent and firm, sale/lease price, dollar amount claimed and/or transaction credit claimed. The closing date must be in chronological order when submitting the transaction form. Transactions may be submitted on the transaction forms provided by Northwest Ohio Realtors or on your company worksheet as long as the information provided is presented in the same format.
Method of Attainment
There are two methods of achieving the award for each level.
- Method A: Dollar Volume: The amount to be claimed is obtained by dividing the sales price by the number of sales agents participating in the sale or transaction. The total sales price may be claimed if the applicant lists AND sells the property. One-half of the total sales price is claimed if the applicant serves only to list OR sell the property. Two or more listing or selling agents receive a proportionate amount of the sales price. Commissions or bonuses cannot be included in this application.
- Method B: Transaction Credits: Credit is granted on the same basis as Method A. If the applicant lists AND sells the property, one transaction credit may be claimed. If the applicant serves only to list OR sell the property, one-half transaction credit may be claimed. Two or more listing OR selling agents receive a proportionate amount of ½ transaction credits.
|
|
PROPERTY |
$ VOLUME CLAIMED |
TRANSACTION CREDIT CLAIMED |
|---|---|---|---|
|
Agent lists and sells |
$100,000 |
$100,000 |
1 |
|
Agents lists only |
$100,000 |
$50,000 |
½ |
|
Agent Sells Only |
$100,000 |
$50,000 |
½ |
|
Two or more listing agents |
$100,000 |
$25,000 or proportionate amount |
¼ or proportionate amount |
|
Two or more selling agents |
$100,000 |
$25,000 or proportionate amount |
¼ or proportionate amount |
Referrals
One-quarter (1/4) credit will be given for referrals over and above the listing and selling agent credit. (e.g. selling price is $100,000, referral agent would claim $25,000 volume or ¼ transaction credit.) Only the most recent referral on either the listing or sale side of the transaction may be claimed. Write “REFERRAL” next to each referral claimed. If audited, a closing statement or referral form will be required and a copy of the check for the referral fee, paid to the applicant, may be required.
Leases
Only commercial/industrial leases may be claimed. Multi-year leases may be claimed one-time only in the first year of the lease for the full amount of the lease.
Multi-Lot
The number of transaction credits granted in multi-lot sales will be equal to the number of buyers. (e.g. five lots and one buyer equals one transaction credit, five lots and five buyers equals five transaction credits.)