Circle of Excellence

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Circle of Excellence (COE) is an annual awards program recognizing the association’s top-producing REALTORS® in various categories. Production categories include Individual Resale, Team Resale, New Homes, and Property Management.

Nominated awards include Salesperson of the Year, Distinguished Property Manager of the Year, and New Homes Rookie of the Year. (Any REALTOR® can nominate another REALTOR® for these illustrious awards, and there is no fee.)

Longevity Awards honor recipients who have obtained a COE award for 10 or more years.

The party’s just ending at the Virginia Beach Convention Center, where 1,200 REALTORS, Affiliates and guests have just finished celebrating HRRA’s annual Circle of Excellence awards, marking 2018 production excellence. And what a party it was! Congrats to all the night’s honorees, including REALTOR of the Year Dora Lee Taylor, Property Manager of the Year Jim Moffat, #1 in Individual Resale Suzanne House Roscher and #1 Mega Team the Weaver Advantage Team. Hats off to all of the night’s recipients for their hard work, and a special salute to the COE Committee and the evening’s sponsors. You’re all our “Stars Tonight”! We’ll have photos up soon. For now, enjoy this video. Crank it up and check out the fun! 🍾🥂🎉 #HRRACOE #iamone #tellingourstory

Posted by Hampton Roads REALTORS Association on Saturday, March 23, 2019

WHEN: Saturday, March 7, 2020, 6-11 p.m.
WHERE: Hilton Norfolk The Main

NEW THIS YEAR: A Gala After-Party featuring the 10 Spot Band and a mouth-watering dessert buffet!

2019 Event Sponsorships Now Available. NEW THIS YEAR: The Gala will feature an after-party complete with Dessert Buffet and live entertainment! Be the first to grab these 2 new sponsorship packages!

THANK YOU TO OUR 2018 EVENT SPONSORS

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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.

Information for 2019 awards will be posted soon.

CRITERIA FOR AWARDS YEAR 2019

2019 Award Year Guideline Changes

  • Adjusted number of members on a Team
  • Removed Extra Large Team Category
  • Reduced Team Award Levels for GCI and Units

RESALE CRITERIA:

Individual Levels:

Gross Commission Income (GCI) or Units
Bronze $90,000 21+
Silver $135,000 32+
Gold $180,000 42+
Platinum $280,000 70+
Diamond $450,000 93+

Small Team Levels (2-3 Licensed HRRA members):

Gross Commission Income (GCI) or Units
Bronze $180,000 42+
Silver $200,000 47+
Gold $330,000 77+
Platinum $450,000 105+
Diamond $600,000 140+

Large Team Levels (4-5 Licensed HRRA members):

Gross Commission Income (GCI) or Units
Bronze $300,000 70+
Silver $425,000 99+
Gold $600,000 140+
Platinum $800,000 187+
Diamond $1,000,000 233+


Mega Team Levels (7+ Licensed HRRA members):

Gross Commission Income (GCI) or Units
Bronze $500,000 117+
Silver $650,000 152+
Gold $800,000 187+
Platinum $1,000,000 233+
Diamond $1,500,000 350+

New Homes (2019 Closed Volume for New Homes Sales Only):

Copper Flashing at least $2,500,000
Silver Nail at least $4,000,000
Gold Hammer at least $5,500,000
Diamond Stud at least $9,000,000

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.

I am married to an individual who also holds a license. However, his license is with a commercial Real Estate firm, and he does not handle residential Real Estate. I am a residential salesperson who works for a different firm. Are we considered a team?

No. In this instance, a married couple can apply for a waiver from team status, but production records from both must be included with the application, which will automatically be audited. Please complete the Related Party Waiver Form.

Who signs the application form?

Each applicant signs his/her own application and the Principal or Managing Broker and Team Leader (if applicable) sign as well, certifying the accuracy of the information, the applicant’s status (team, mega-team or individual) and adjusted GCI calculations on the application.

Do I have to pay when I turn in my application?

Yes, all paperwork and payment must be received by January 14, 2019.

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.

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:

  1. In the awards year, the Agent’s Adjusted GCI must equal that of a Bronze Award, as a minimum.
  2. 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 five team members, an Extra Large Team would consist of 6-10 team members and a Mega Team would consist of eleven or more team members.

My husband and I are both licensed agents, but he only does ministerial acts. Are we considered a team?

Yes, a married couple or any family members who are both/all licensed and members of HRRA are considered a team. A Related Party Waiver Form could be submitted if both husband and wife worked for separate companies, or each worked in a different field. Example: The wife is a commercial agent, never working in residential sales, and the husband is a residential sales agent, never working in commercial sales. As for family members, an application for a waiver may be made if each conducts his business totally separate from the other(s). Along with the Related Party Waiver Form, the production log (HRRA Property Data Form) for the spouse and/or each family member must be included with the application.

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 would not be eligible for an Individual award if she was with the team at her prior company for 90 days or more during the awards year. Her GCI would stay with the team. The revised 90 day rule states that: “If an agent is a member of any Team for more than 90 cumulative days during the award year, he/she is not eligible for an Individual award.” Prior to the ninety day anniversary of team membership, a team member can leave the team with no penalty. His GCI will go with him and may not be counted by the team. He may apply as an Individual if no other team relationship occurs during the year.

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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.

  1. Only agents who apply and are accepted into the HRRA Awards Program may use such designations in conjunction with their business dealings.
  2. Recipients cannot use award designations prior to that award being presented.
  3. 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 Excellence2002, 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.
  4. An agent who has been a member of the TAR/HRRA Million Dollar Sales Club or TAR Circle of Excellencefor 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.
  5. 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.
  6. 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.
  7. 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 Excellencein subsequent years.
  8. For any company advertising number of award recipients, numbers must be reflective of that specific company only.
  9. A Team or Mega Team leader or member may advertise and market his/her receipt of a Circle of ExcellenceAward, 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.
  10. 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 ExcellenceAdvisory 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.

 

First Name 
Last Name 
Year 
Award Level 
Company 



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