The Atlanta REALTORS® Association Board of Directors recently approved changes for qualifications to the Top Producers recognition. These new changes are meant to provide clarity to issues of team member transitions and conflicting documents. These changes will go into effect for transactions taking place on or after January 1, 2018 and for recognition taking place at the 2019 Gala.
Members transitioning from one team to another or to individual status. Under the previous rules, a Team Member was only allowed to earn Top Producers recognition based on their volume produced as part of the Team or their volume produced as an Individual once they left the Team. In many cases, the Team Member would have enough combined volume during the year, but when the rules were applied they didn’t have enough volume to qualify separately as either a Team Member or as an Individual. This structure led to situations where members would lose a year of recognition when their total production would have otherwise qualified had they not left the Team.
The approved change will now allow a member to submit an application with the combined total production regardless of their Team Member or Individual status. This combined volume will be used by the committee to determine their qualification for recognition as a Team Member for Longevity credit only. Their combined volume will not be used for publication or promotional purposes, but they will be allowed to earn a year of credit towards Life or Phoenix level recognitions.
Longevity Credit. This credit allows members to be recognized for the purpose of earning years that can accrue toward Life or Phoenix level recognition. While Team Members must still qualify under the guidelines, no volume or unit information will be included in their recognition.
Resolution of conflicting data between FMLS and the Purchase & Sale Agreements for purposes of credit. The Top Producers online application has been designed to sync the data entered into FMLS including the participating agents, closed transaction amount, transaction date and address. The previous Top Producers Rules specifically provided credit only to those members listed on the final contract and in many cases, this created a conflict when the information was different.
The Committee has modified the Rules to state that if there is a discrepancy between the data, the calculation will be determined as follows:
- In the case where two agents are listed on the FMLS Transaction and only one agent is listed on the Purchase & Sale Agreement, the FMLS Transaction data shall prevail and the volume and unit credit shall be equally divided among the agents listed.
- In the case where two agents are listed on the FMLS Transaction and additional agents are listed on the Purchase & Sale Agreement, the additional agents listed on the Purchase & Sale Agreement may be added to the transaction in the online program and the volume and unit credit shall be equally divided among the agents listed.
- Any additional discrepancies shall be presented for review by the Committee.
Audit process streamlined. As a result of the changes, and the success of the online program, the Committee has streamlined the audit process and will no longer be required to audit transactions that were added to the Top Producers application through the FMLS sync.
Applications. All applications for 2018 transactions will be required to be submitted via the Top Producers online program. Printed applications will not be accepted except for situations where an applicant is unable to submit an online application because of a programming issue. In these situations, a paper application may be submitted but only after seeking prior written approval.