2012 Masters Club
The Masters Club Application and Rules have been updated. The application process is now open and extended until March 15. For more information or questions about the application process please contact CVAR at (209) 858-1700.
Procedures of the 2012 Masters Club
To encourage cooperation and good will through MLS; to teach by example exhibiting integrity, honesty, fairness and professional conduct.
Recognition of excellence in the REALTORS® field of endeavor. To publicly honor REALTORS® who have conducted their business under the Masters Club guidelines and who have achieved a minimum of $3.2 million volume (with a minimum of 12 transactions) or closed 24 ends of escrow during the prior year. The Masters Club is strongly committed to professionalism and to the spirit of cooperation.
The applicant must be a licensed Real Estate Agent or Broker, and a member in ?Good Standing? with the Central Valley Association of REALTORS®.
- The applicant must submit in writing the ?closed escrows? for the preceding calendar year in which he/she participated being the listing or selling agent or both listing and selling agent. The applicant must adhere to the criteria for approval of membership as contained below.
Criteria for Approval of Membership
- Applicant will be given 200% credit of the sales price if he/she has represented both buyer and the seller of the closed escrow. Applicant will be given 100% credit of the sales price if he/she represented only a buyer or only a seller in a single transaction.
- If an applicant shared in the listing end or the selling end of the transaction with another agent, he/she can only take credit for the portion that the applicant actually completed. (Example: Applicant (Agent A) shared listing end with Agent B and Agent C sold property, the applicant (Agent A) can only take credit for ½ of the selling price).
- If applicant is attempting to qualify under the 24 closed ends of escrow provision, the following shall apply: each end, buyer end or seller end, shall count as one end; if the agent represents both buyer and seller, two ends would be counted; if it was a split listing each agent would count ½ end. No other splits will be allowed. Co-listers and/or co-selling agents are clearly indicated on each transaction submitted.
- The applicant must submit a list on the appropriate form (duly executed) of the following closed real estate transaction where he/she has received a COMMISSION AND REPRESENTED EITHER THE BUYER OR SELLER, OR BOTH, and OF THE TRANSACTIONS. Types of acceptable MLS transactions:
- Re-Sale Residential
- New Residential Sales
- Land Sales
- Ranch Sales
- Commercial Sales
- Income Property
- Exchange or Real Property
- Business Opportunities
- Mobile Homes
*The transaction must be an MLS Listing/Sale or a proven co-operative listing/sale to count!
- The following documents must be submitted for each listing to receive credit.
- Full MLS printout showing listings sold/sold listings by agent or other documentation to prove that it was a co-op listing/sale.To qualify as a listing end for Masters Club purposes, the listing must be submitted to MLS as a ?new” listing according to the MLS rules in effect for the time period covered.
NOTE: Photocopy of HUD-1 is no longer required unless it is a new home not on MLS
To qualify as a sale transaction for Masters Club purposes the property must be in any MLS as per listing qualifications above and the sales contract date must not precede the listing contract date.
NOTE: Because the Masters Club operates with professionalism and with the spirit of cooperation in mind, submitted transaction must show clearly the intention of the agent to cooperate with MLS and the Central Valley Association of REALTORS®. Any transaction submitted as a ?comp? only will not qualify for Masters Club credit.
- Generally, any listing submitted under the listing guidelines and procedures outlined herein and available for the membership of the Central Valley Association of REALTORS® to sell is acceptable. All areas with-in San Joaquin County, Stanislaus County and counties contiguous thereto would be admissible provided all requirements herein are met.
- The one transaction end, of the applicants choosing, as a principal shall be counted towards that applicant?s Master Club credit.
On exchanges, the dollar volume credit for listing and selling shall be determined by adding together and doubling the transaction prices, as established in escrow, of all listed properties and dividing the total by the number of Association members participating unless commissions earned by the members participating are not equal, then credit will be given to the individual?s share thereof. The applicant must have a minimum of 12 closed ends in the calendar year if qualifying under the $3.2 million standard.
- Designated REALTORS® do not receive credit for listings and sales of their licensed personnel. They receive listing and selling credits only for their own individual transactions.
- All items must be included in the package or it may be disallowed.
- Two Masters Club ?COMMITTEE? members will verify each file.
Preparation of Application
- The application will be submitted only to the ?Masters Club? representative at the Central Valley Association of REALTORS® office located at 16980 S. Harlan Rd., Lathrop, California. (APPLICATIONS WILL NOT BE GIVEN TO ANY OTHER PERSON). Applications will be accepted anytime after December 1st of any given year at the Association office.
- The applicant must use the approved Masters Club entry form, and submit this with a tape, or spreadsheet with the total, showing final computations. The Agent’s Broker must sign the application; principal Brokers may sign their own applications. Application fee of $150.00 must accompany the application. The final deadline for submitted applications will be at 5:00 p.m. on Wednesday, February 29, 2012. (NO EXCEPTIONS Last Extension). The review will be conducted by the members of the Masters Club group by March 15, 2013
NOTE: Applicants will not be required to attend the review meeting but may be contacted regarding any questions the committee may have.
Distribution of Application Fees
The $150.00 fees collected by the Masters Club shall be used for any club-related purposes.
Use of Logo
A Masters Club Member in ?good standing? may use the Masters Club Logo (with year of qualification indicated on their personal business cards and stationery).
The annual Master?s dues will be $150.00 and applicants must be a member in ?good standing? and current with all Association dues.
In accordance with N.A.R.?s guidelines, candidates are required to execute an agreement with Central Valley Association of REALTORS® regarding return of the plaque under guidelines set forth by N.A.R.
Central Valley Association of REALTORS® will mail letters to applicants of verification notifying the applicant if they were or were not admitted to membership.
These rules may be amended upon the final approval of the Central Valley Association of REALTORS® Board of Directors approval.