Please Note - The Multi-Million Dollar Club along with the approval of the Board of Directors has approved a few changes to the MMDSC. These changes will take effect for the 2013 MMDSC applications which will be due January 15, 2014.
Minimum Volume requirement $3.5 million
Definition Changes to all Categories excluding Individual
Created a New Category
- Team-Small: Any applicant that has two (2) to three (3) licensees, including the applicant working for the team during the qualifying year which are paid either directly or indirectly by the applicant.
- Team-Large: Any applicant that has four (4) to nine (9) licensees, including the applicant working for the team during the qualifying year which are paid either directly or indirectly by the applicant.
- New Homes: Majority of applicants total volume credit must result from the "listing side" of the sale of new home.
- REO: Majority of applicants the total volume credit resulting from the “listing side” of the sale of a bank-owned or asset management property.
Mega-Team: Any applicant that has ten (10) or more licensees, including the applicant working for the team during the qualifying year which are paid either directly or indirectly by the applicant.
Top Producer Recognition
To modify how recognition will be provided to the Top 5% of the applicants in each of the six categories with no less than five (5) applicants being recognized in any one category. Only the Top 5 in each category will be recognized on stage the evening of the banquet.
- To adopt a Late Filing Period for MMDSC applicants to be submitted after the original deadline. Applications may be submitted during the “Late Filing Period” through 5:00 pm, 7 days following the original due date of each year and must be accompanied by a $250 late fee in addition to the application fee. Additionally, the late application will automatically be audited. All applications received after the Late Filing Period deadline will be rejected.
- To allow an applicant to submit a company generated report in place of the required MMDSC Transaction Report if selected for a random audit as long as the report provides the same information as the MMDSC Transaction Report. (The MMDSC Transaction Report in an Excel spreadsheet will still be available for firms that do not have company generated reports.)
- To no longer require the HUD to be submitted if an applicant is selected for a random audit. (Applicants may still be required to submit the HUD if questions arise during the audit.)
To download applications, visit www.abr.org/mmdsc.
If you have questions, please contact Sandy Zigler at 404.732.0603.