Sales CLUB RULES

We are now accepting applications for the 2019 Commercial Real Estate Brokerage Association of Greater Washington, DC (CREBA) Leasing, Sales & Finance Club awards (including Leasing, Sales & Finance Transactions of the Year) as well as Developer Awards. Don’t pass up this opportunity to be honored by your peers. This is the only awards program in the region that recognizes the individual broker.

CREBA will name the top brokerage houses based on the awards applications! Do you have brokers in your office who aren’t members? Encourage them to join and submit for the awards on or before Midnight, Wednesday, February 5, 2020!

Remember, you don’t need to qualify for the Multi-Million Dollar Award levels in order to have your totals count towards your company totals. We encourage all members to apply in order to help their company’s chances of winning a Firm of the Year award.

The award applications are submitted online. Please click here for the necessary forms.

Awards Winners will be announced on Tuesday, March 31st at our Annual Awards Dinner at The Ritz Carlton. Attended by over 500 of the best of the best in our industry, the Awards Dinner has long been known as CREBA’s premier annual event. This is your opportunity to put your name in the company of illustrious past winners.

 

CREBA Multi-Million Dollar Commercial Sales Club Rules

DO I QUALIFY FOR AN AWARD?
In order to qualify for a Multi-Million Dollar Sales Club Award, the following conditions must be met:

1. The applicant must have been a full-time licensed real estate broker or salesperson and a member of the Commercial Real Estate Brokerage Association of Greater Washington, DC in good standing on or before February 5, 2020. If you were not a CREBA member in 2019 you may qualify for membership by paying 2020 dues and any other applicable fees by February 5, 2020.To join for 2020, click here. To purchase 2019 membership for $50, please email info@creba.org. The individual may be a principal of the firm and/or principal broker, provided that the principal is substantially involved in each transaction submitted. An applicant who changes brokerage firms during the calendar year may select which firm he/she would like to receive credit and a sales award. The appropriate firm will have to verify sales volume.

2. The applicant must have been responsible for generating a minimum of eight million dollars ($8,000,000) in aggregate sales volume on which settlement occurred in calendar year 2019. Property both listed and sold by the applicant may be credited only once.

3. Sales include commercial buildings, apartment buildings, land and like-kind exchanges of all such property. Joint ventures may be included in your sales application if the joint venture is the sale of an interest or portion of property. If the joint venture is a form of mezzanine financing, equity or the contribution of land for a development, it should be counted towards your financing totals. Financing transactions may no longer be included for Sales Club Award eligibility (see Finance Club rules).

The applicant must apply on the online forms on or before Midnight on Wednesday, FEBRUARY 5, 2020. SORRY NO EXCEPTIONS!!! Once the application is submitted there shall be no alterations or additions!!!

 

Special Rules

1. Allocations of sales or exchanges between two or more firms:

  • Gross sale price or exchange value is allocated to each participating firm in proportion to the split of the gross sales commission split.

  • The individual applicant receives credit toward the Multi-Million Dollar Sales Club for that portion of the gross sales price in direct proportion to the commission split.

  • In the event that a Buyer is exclusively represented by one firm and is paid a fee by the Buyer and the Seller, exclusively represented by another firm pays its representative a fee, then both firms may count the gross sales price toward qualification. Each applicant may only count his/her percentage share of the transaction toward qualification.

Example: Two firms participate in a $5 million sale in which the gross sales commission is split equally. Each firm receives credit for $2,500,000 and the sales person who handled the transaction within each firm receives $2,500,000 credit toward the qualifying sales volume of $8 million.

2. Allocation of sales or exchange between salespersons within the same firms:

  • The gross sales price or exchange value is divided between each participating salesperson on the same percentage basis as the commission divided between each participating salesperson.

  • Management overrides are not included within the percentages and do not count toward the minimum qualifying sales volume. Non-brokerage or management personnel that are receiving a portion of the sales commission do not count towards the total. Therefore the brokers split of the total volume for purposes of calculating total of this award should be his or her percentage of the total commission distributed to brokerage personnel.

  • In the event that a Buyer is exclusively represented by one agent and is paid a fee by the Buyer and the Seller, exclusively represented by another agent pays its representative a fee, then both agents may count the gross sales price toward qualification. Each applicant may only count his/her percentage share of the transaction toward qualification. Applicants may not use non-CREBA team members’ percentage share towards their own totals. Example: The sales commission for a $5 million transaction is divided as follows: 25% to salesperson A; 25% to salesperson B; 5% to sales manager; 45% to firm. Salesperson A and B receive credit for $2,500,000.

 

3. A committee of not less than two members shall be appointed by the CREBA president to review all applications and the decision of the committee shall be final with respect to any questions of eligibility or interpretations of these rules as they might apply to a given transaction.

4. In general, as a rule of thumb, each participating agent can only claim the same percentage of a transaction as indicated on the commission voucher.

 

Additional Sales Club Awards

1. New Life Member: Must have been a member of CREBA (GWCAR) Multi-Million Dollar Commercial Sales Club for five years, not necessarily consecutive.

2. Life Member Qualifying Again: Names of life members qualifying again will be published.

3. Transaction of the Year: Members may also apply for Sales Transaction of the Year. Sales Transaction of the Year will be awarded from across the regional (not by jurisdiction).

All details of competing entries will be kept in strictest confidence. No details will be publicized, but appropriate publicity concerning the presentation of the Award will be distributed with the approval of the winner(s) and principals.

 

How do I submit for an Award?

Click here for more information about submitting for an award.

The applicant must apply on the online forms on or before Midnight on Wednesday, FEBRUARY 5, 2020. SORRY NO EXCEPTIONS!!! Once the application is submitted there shall be no alterations or additions!!!

QUESTIONS? For more information regarding the RULES or online application forms, please contact: info@creba.org by phone at 301.503.5425.

AWARDS ENTRY DEADLINE : FEBRUARY 5, 2020

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