When is the Application Deadline?
Wednesday, January 18, 2017 6:00 pm sharp. All applications must be computer generated or typed and delivered to the Board office located at 5784 Lake Forrest Drive Atlanta, GA 30328. We suggest hand delivery of applications to ensure timely delivery by the deadline. No faxed or e-mailed applications will be accepted.
How much is the application fee and can I pay by credit card?
The application fee is $200.00 and all major credit cards are accepted: Visa, MasterCard, AMEX and Discover. This includes your seat to attend the banquet, all advertising for the Million Dollar Club, awards and MDC Expenses.
What is the volume requirement for the 2017 Million Dollar Club?
NOTE: The minimum volume requirement to be accepted into the 2017 MDC has increased to $4.5 million dollars.
The minimum volume requirement will be increased to $4,500,000 dollars in order to qualify for the 2017 Million Dollar Club for production in 2016. The minimum volume will be increased by half a million dollars in 2017 and then capped at $5,000,000.00. For example, the minimum volume for the 2017 will be $4.5M and 2018 will be $5M.
Can I qualify if I have less than $4.5 million in completed transactions?
As of 2004, the MDC rules changed to provide Million Dollar Club members who had achieved 20 years of membership as of January 1, 2004, to remain under the previous rules with the volume requirement at the $1,000,000 production level. Therefore, the applicant’s membership years will be verified in order to qualify with $1,000,000 in volume for 2017.
The $1,000,000 dollar threshold remains fixed for grandfathered MDC Members for future years.
Can I transfer years in another Board's MDC towards Million Dollar Club membership in the Atlanta Commercial Board?
Million Dollar Club credit earned in another association may be transferred to the Atlanta Commercial Board as credit towards Life membership, Phoenix, and Silver Phoenix Awards. In order for transfer years to be applied you must submit a written letter from your previous association signed by the Association Executive and submit prior to or with your MDC application. Please refer to page 4 Section IV for transfer year credit details.
If a broker who cooperated on a transaction with me is NOT going to file for membership in the MDC, can I take credit for the entire transaction?
No. You may only take credit for the part of the transaction you completed and the volume must be calculated in direct proportion of the percent commission you received. For instance, if you cooperated with someone representing the same side of the transaction on a 2 million dollar transaction with a commission of 50%; then you can claim 1 million dollars in sales volume credit. Volume credit can never be distributed without following the appropriate guidelines.
Can you claim a transaction that was not counted from the previous year towards this year’s Million Dollar Club?
No. Only transactions for sales or leases that were completed or fully executed during the qualifying year (2015) can only count towards Million Dollar Club credit, regardless of when paper work was turned in.
Can you count referral fees as a part of your MDC volume credit?
No. Credit shall not be allowed for appraisals, evaluations, consultations, referral fees or fee based non contingent income.
Can I still claim credit for a transaction that closed in 2016 if a commission check has not been collected?
You can still claim credit for a transaction that was fully executed and signed during the 2016 qualifying sales year as long as the commission or brokerage fee paid is reflected on a closing statement, lease agreement, valid commission agreement, voucher or disclosure statement.
If I sell property in which I have ownership, can I take credit for the entire sale?
You can claim credit of the entire sale if you have less than 10% interest/ownership in the property that was sold.
If I sold residential property during my qualifying year, can I claim that volume towards my total credit on my application?
Residential transactions may be claimed towards your total MDC credit as long as 75% of your sales volume is Commercial.
If I have made application for the Atlanta Commercial Board, but not yet completed new member orientation, can I claim credit for transactions closed before I complete new member orientation?
All MDC applicants must be a REALTOR® member of the Board during 2016 and 2017 with dues paid in full in order to be considered as a Million Dollar Club member. New members of the Board must have submitted a membership application during the qualifying year of 2016 and completed the Orientation by February 16, 2017.
Who submits a photo with their application?
Applicants who will receive the Phoenix or Silver Phoenix award and any total volume produced over 25 million should submit a photo.
How many people are recognized in each Top Producer Category?
Two new Top Ten Producer categories were added in 2009, therefore there will be a total of seventy top producers; ten in each of the seven categories. However, the Million Dollar Club Committee at its discretion may consider reducing the number of top producer awards that will be given based on the number of applications received in each respective category upon approval of the Million Dollar Club Committee and the Board of Directors.
The seven categories are as follows: 1) Investment, 2) Industrial-Landlord Representative, 3) Industrial-Tenant Representative, 4) Land, 5) Office-Landlord Representative, 6) Office-Tenant Representative, and 7) Retail.
The ranking is based on the pure volume of the respective category. Each potential Top Producer application will be reviewed carefully for validity and accuracy. The committee will not be held responsible for inaccurate information submitted and volume placed under the wrong category by the applicant. It is the applicant’s responsibility to submit accurate data.
When and where will the banquet take place?
The banquet is scheduled for Thursday, March 23, 2017, 6:00 pm at The Ritz-Carlton Buckhead. The banquet cocktail hour will begin at 6:00 pm, doors open at 7:00 pm, and will adjourn at approximately 9:30 pm.
Can I bring a guest(s) to the banquet?
Only Million Dollar Club Members may bring guest(s) to the banquet at the cost of $125.00 per person.
Can I let someone else attend the banquet on my behalf if I am unable to attend?
No. Attendance at the banquet is not transferable. Non-MDC guests must purchase a ticket. Admission to the banquet may only be used by the MDC applicant or a guest that has purchased a ticket.
Can my MDC Application Fee be reduced if I do not plan to attend the banquet?
No. The MDC application fee is a set cost of $200 dollars.
How do I pay my application fee online by credit card?
CLICK HERE to login to your REALTOR® account to pay for your application fee by credit card. The same login information used to access your MDC application can be used to login to your REALTOR® account.