FIND A REALTOR®
FIND AN AFFILIATE
WHEN: Thursday, April 27, 2023, 5-10p.m.
WHERE: Virginia Beach Convention Center
THANK YOU TO OUR 2022 EVENT SPONSORS
Presenting Diamond Sponsor
Hall of Excellence Sponsor
Stage Sponsors
Photo Booth Sponsor
Bar Sponsors
Ticket Sponsor
Entertainment Sponsors
Décor Sponsors
Friend Sponsors
The Million Dollar Sales Club and later, the Outstanding Sales Club, represented members from five different boards (Portsmouth/Suffolk, Franklin, Norfolk, Chesapeake, and Virginia Beach). A merger produced the Tidewater Board of REALTORS® and the name of the award was changed back and forth before reverting to Million Dollar Sales Club. In 1990, the word Board was changed to Association and Tidewater Association of REALTORS® lasted through the decade. The Circle of Excellence℠ awards replaced the Million Dollar Sales Club in 1994. The year of the millennium brought another merger and the last name change for HRRA. In 2004, the awards for the Eastern and Western regions of the Association were combined, and for the first time, all REALTORS® in South Hampton Roads were represented.
All forms are filled out and submitted online unless an exception is required.
The application deadline is WEDNESDAY, JANUARY 25, 2023, at 5:00 p.m. Credit Card payments must be processed at the time of submission.
APPLICATIONS
Applications for those paying by Credit Card:
Distinguished Property Manager Award
Distinguished Property Manager- Longevity Award
Applications for those paying by Check:
Distinguished Property Manager Award
Distinguished Property Manager- Longevity Award
** Checks Must be hand delivered to HRRA no later than 5:00p.m. on Wednesday, January 25th, 2023.
Checks are made out to Hampton Roads REALTORS® Association **
NOMINATIONS
Distinguished Property Manager of the Year
New Homes Rookie of the Year – Check Payment
Outstanding Rookie of the Year- Check Payment
New Homes Rookie of the Year – Credit Card Payment
Outstanding Rookie of the Year- Credit Card Payment
SUPPLEMENTARY FORMS & INFO:
Property Data Form 1 (EXCEL)
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- Tabs at the bottom of this form allow for up to 2,000 transactions to be reported. All calculations transfer to additional tabs.
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New Homes Property Data Form (EXCEL)
COE Administrative Assistant Waiver
COE APPLICATION ORIENTATION FOR ADMINS & BROKERS:
The COE Award Interpretation Committee is offering a Training session for those completing bulk applications or applications on behalf of a REALTOR®.
*The COE application training for December 15th has been rescheduled for December 19th at 10am & 2pm.
Please email ccronin@hrra.com to register.
COE APPLICATION TUTORIAL:
CRITERIA FOR AWARDS YEAR 2022:
A “team” is designed as two or more individuals who:
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- Work together as a unit within the same real estate firm,
- Represent themselves to the public as working together as a unit, AND
- Designate themselves by a fictitious [team] name
Note: All three elements above must be met in order for an entity to be considered a team and be required to be registered.
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If you submit a team application and are found to not have a business entity license filed with DPOR, you will be notified by HRRA and will be given 15 business days to show your proof of filing with the state or your COE application will be declined.
VREB Team:
Effective January 1, 2019, Teams must obtain a business entity license from the REB before transacting real estate as a team.
- Prior to applying to the VREB for a business entity license, there must be a formal business entity established with the SCC.
- It is the responsibility of the Agent to consult appropriate resources regarding setting up a business entity, the form it should take, where to file, etc.
Virginia Business Entity LICENSE/REINSTATEMENT APPLICATION
- $210 every 2 years
- Notes the name of the business entity and fictitious name
- Remember that a fictitious name can be as simple as the agent’s name. Example: John Smith, Realtor
- May have to be filed with the Clerk of Court where business is being conducted
- Licensed team members are to be filed with the business entity license
- Teams must be kept updated with the state as people add to / drop off of the team
RESALE CRITERIA:
DPM Criteria:
Gross Management/Leasing Fee of at least $150,000. Attendance at three (3) Property Management & Leasing Council meetings and/or Council sponsored educational events during the award year is required.
GENERAL INFORMATION
What is the cost of the Circle of Excellence℠ application?
The HRRA Circle of Excellence℠ application fee is $100, which covers the processing and auditing of the application.
Define GCI
GCI is defined as gross commission income to the company. For example, the amount of the commission check going to the company plus the EMD (if applicable), which may be inconsistent with the commission listed on the HUD statement.
Who signs the application form?
As a result of the Application forms being online applicates and brokers are required to sign digitally.
Do I have to pay when I turn in my application?
Yes, Credit Card payment must be entered on your application to submit it. If you Credit Card is declined, you will not be able to submit your application. Applications are due by 5:00 p.m. on Wednesday, January 25, 2023.
If two agents split a listing or sale, do they split both the final sales price and GCI, or just the GCI?
Looking at the Property Data Form each agent will have the same “Final Sales Price” & the same “Total GCI”. The difference will be noted in the “GCI Reduction” columns & the “Adjusted GCI” columns, depending on the arrangement made between the two agents. Whatever percentage the commission was shared (i.e. 50/50 or 80/20) will be the way it is noted on the form.
Example: Agent A & Agent B are splitting the sale of a house. The information will appear the same in the columns on both of their Property Data Forms (address, closed date, final sale price, total GCI). The rest will be determined by the % of their commission split, for example, say the total GCI that was split was $10,000 and they split it 80/20. Agent A, who made the $8,000, would show the $2,000 in the “GCI Reduction” column and the $8,000 in the “Adjusted GCI” column. The same would be true for Agent B only vice versa.
If an agent has both sides of a transaction, do I double the final sales price?
The final sale price would remain the same. The agent would list whatever total commission was earned for listing and selling the property.
I have chosen not to pay for the plaque, or have my photo in the paper. Will I still have achieved an “award”? How will I know what award?
There is no award without an acceptable COE application with required attachments. The application fee includes the multi-media publicity, but the plaque is optional.
Do I need to find out if an agent needs to have sold enough to be at a Bronze level to qualify for an Outstanding Rookie Award, or does that not matter?
Yes, in order to receive an Outstanding Rookie Award, there are two criteria which must be met:
- In the awards year, the Agent’s Adjusted GCI must equal that of a Bronze Award, as a minimum.
- In the agent’s first 12 months after licensure (in any state), he must earn enough Adjusted GCI to qualify for a Bronze Award, based on the criteria requirements in effect in the year he was licensed.
I am trying to use a HRRA award spreadsheet for every one of my agents to have for the end of the year. However, I am very confused about how to calculate the GCI and the AGCI. On my spreadsheet there is a total GCI, reductions and then AGCI. Are reductions applicable only if there was a referral between agents, but not if there is a relocation involved? And is AGCI the same as the GCI if there aren’t any reductions or is the AGCI the total times their commission rate?
GCI is total commission “in the door” plus the EMD (if applicable). The AGCI is the GCI less referrals to any other HRRA member. .
For the Distinguished Property Manager's Award, do both Commercial and Residential properties count?
The Property Managers Guidelines states: “Gross management, leasing, rental and referral fees from all types of real property shall be counted. Revenue gained from the sale of real property shall NOT be counted toward the Distinguished Property Managers award.
TEAM GUIDELINES
Who constitutes a “Mega Team?”
A Small Team is defined as: two or three HRRA members working together, on a regular and on-going basis, practicing real estate sales and/or property management. A Large Team would consist of four to six team members, and a Mega Team would consist of seven or more team members.
My husband and I are both licensed agents, but he only does ministerial acts. Are we considered a team?
Not necessarily. As of January 1, 2019, all real estate teams in Virginia need to be registered with the Virginia Real Estate Board. Teams must obtain a business entity salesperson’s license from the REB before transacting real estate as a team. Prior to applying to the REB for a business entity salesperson’s license, there must be a formal business entity established with the SCC. It is the responsibility of the Associate to consult appropriate resources regarding setting up a business entity, the form it should take, where to file, etc. A “team” is designed as two or more individuals who:
- Work together as a unit within the same real estate firm,
- Represent themselves to the public as working together as a unit, AND
- Designate themselves by a fictitious [team] name
Note: All three elements above must be met in order for an entity to be considered a team and be required to be registered.
If you submit a team application and are found to not have a business entity license filed with DPOR, you will be notified by HRRA and will be given 15 business days to show your proof of filing with the state or your COE application will be declined.
If an individual joins my team, may his/her GCI earned prior to joining the team count toward total team GCI?
No, prior production does not count.
If I have won 9 awards as an individual, but have joined a team this year that qualifies for a COE award, am I still eligible for my 10 year Longevity Award?
Yes, you retain your award history, whether the award was earned as an Individual or a Team Leader/Member.
An agent will be transferring to our company as an Individual agent. She was on a team with the previous company and that association continued for a couple of years. In the last month or so, she became an individual agent at the previous company. Is she eligible for an Individual award?
This agent could be eligible for an Individual award. If an agent is a member of one or more Teams during the award year, their earned GCI from the time they were on those teams during the award year will remain with those Teams. If the individual withdraws from team activity the GCI going forward as an individual remains with the individual and cannot be included in the Team GCI.
A symbol of honor and achievement, the Circle of Excellence℠ logo can be used by award winners to distinguish themselves in various marketing, advertising and business communications.
PLEASE READ THESE GUIDELINES before advertising your award level status. Thank you!
Failure to comply with these advertising guidelines may result in a Board of Directors determination of ineligibility in future awards programs. Advertising includes, but is not limited to business cards, stationary, website, social media, print ads, etc.
- Only agents who apply and are accepted into the HRRA Awards Program may use such designations in conjunction with their business dealings.
- Recipients may only use award designations following notification from HRRA that their application has been approved.
- The proper identification of an agent who has applied and been accepted into the Awards Program is Member, HRRA Circle of Excellence℠. Specify years or the term past if you have not received the award in the current year. Example: Member, HRRA Circle of Excellence℠2002, 2003, 2006 or Past Member, HRRA Circle of Excellence℠. If you are a member of the Awards Program in the current year, you do not need to list any year(s) following the text, but you may if you so choose.
- An agent who has been a member of the TAR/HRRA Million Dollar Sales Club or TAR Circle of Excellence℠for consecutive years may elect to condense the years. All previous HRRA/ TAR Million Dollar Sales Club and Circle of Excellence℠ years apply to the Awards Program and should be designated as Circle of Excellence℠ in your business dealings. (For example, an agent who has been a member of the HRRA/TAR Million Dollar Sales Club or Circle of Excellence℠ each of the past six years would indicate this status as follows: Member, HRRA Circle of Excellence℠ 2002-2008.
- Agents may elect to use their level in the awards program in advertising text as follows: Gold Member, HRRA Circle of Excellence℠. However, the level indicated in the text must be for the current award year. TAR/HRRA Million Dollar Sales Club may not be used as an award level designation.
- Recipients may advertise their numerical ranking, or placement in the top numerical percent. The percentage for individuals shall be calculated based on total HRRA membership as of Dec. 31 of the awards year. You may call the HRRA offices for the official number. (Percentage levels do not apply to team awards.) Such advertisement must specifically reference that the ranking in a specific category is within Hampton Roads REALTORS®Association Circle of Excellence℠ Awards for a specific year.
- Agents who have been awarded longevity awards may elect to indicate this status as follows: 10-Year Member, HRRA Circle of Excellence℠. This text is valid every year until the agent reaches the next highest level of longevity awards, even if the agent fails to achieve the Circle of Excellence℠in subsequent years.
- For any company advertising number of award recipients, numbers must be reflective of that specific company only.
- A Team or Mega Team leader or member may advertise and market his/her receipt of a Circle of Excellence℠Award, but it must be clearly stated that it was a team award. As an example, a member of any size team who earned a Gold Award could NOT advertise Circle of Excellence℠ Gold Award winner 2009, but must say, Circle of Excellence℠ Gold Team Award winner-2009.
- For any unique situation not covered by the preceding, or for CLARIFICATION on any of the information set forth herein (in lieu of individual interpretation), please contact, IN WRITING, Circle of Excellence℠Advisory Group c/o Hampton Roads REALTORS® Association, by mail to 638 Independence Blvd., Suite 100, Chesapeake, VA 23320, by email to Click Here or by fax to 757-473-9897.
*GCI is defined as gross commission income to the company, i.e. the amount of check going to company, which may be inconsistent with the commission listed on the HUD statement.
The HRRA Circle of Excellence℠ Awards recognizes the top REALTOR® agents in the Hampton Roads area. Each year, hundreds of REALTORS® apply for these awards as they are a symbol of their hard work and dedication throughout the year. These top agents have reached a high level of achievement set forth by rigorous criteria and guidelines, through professionalism, due diligence, customer care and attention, and a strong knowledge of the real estate industry.
2022 Individual Award Rankings
2022 Circle of Excellence℠ Award Recipients List
2021 Circle of Excellence℠ Award Recipients List
2021 Individual Award Rankings
COE Award templates are available for each award category. Please download the template and insert your photo.
Suggested programs to use: Canva, Adobe, or other photo editors.
