BCB

BOARD CERTIFIED BROKER

PROFESSIONAL DESIGNATION

THE DESIGNATION

The Georgia Association of Business Brokers shall award the professional designation BCB (Board Certified Broker) to members who have successfully completed certain education, experience and other requirements to members who hold a Broker or Associate Broker license from the Georgia Real Estate Commission.

PURPOSE and OBJECTIVE OF THE DESIGNATION

The purpose and objective of the BCB designation is to demonstrate that the designee has achieved a superior level of knowledge through the successful completion of prescribed courses; to ensure that throughout the professional career of the designee that they maintain a level of competence by continued education; by contributing to the body of knowledge of the business brokerage profession; and by following, promoting and demonstrating the highest possible business ethics and moral character.

REQUIREMENTS FOR ACHIEVING THE DESIGNATION

Applicant shall hold a current GA Real Estate Broker’s license.

Applicant shall be a member in good standing of GABB with no ethical complaints that resulted in GABB Board action, be up-to-date on all GABB & BBMS dues, have no felony convictions, misdemeanor convictions for business related matters or GREC reprimands, sanctions or license suspension or revocation.

The BCB applicant shall pledge to conduct business in accordance with the GABB Code of Ethics, to abide by GABB By Laws and the BBMS Rules and Regulations.

Applicant will complete the application for the BCB designation along with a $ 100.00 application fee to the GABB Treasurer.

Applicant shall have a minimum of 24 months full time or 48 months part-time business brokerage experience and have closed a minimum of 3 business transactions (not Real Estate) within the preceding 24 months.

Applicant shall have a minimum of 2 active listings at the time of making application.

Applicant shall complete the following requirements totaling 76 hours or equivalents:

a. Requirements and Hours of Study Hours

  1. Attend GABB orientation 4
  2. Attend BBMS training 4
  3. Attend a GABB or IBBA Conference within the last 12 months 8
  4. Attend a minimum of 4 GABB meetings 4
  5. Take and pass IBBA on-line course 101 Introduction to Business Brokerage 8
  6. Take and pass IBBA on-line course 501 Standards of Care for Business Brokers 4
  7. Take and pass IBBA Course 210 Recasting Financial Statements 16
  8. Take and pass IBBA Course 220 Introduction to Business Evaluation 8
  9. Take and pass IBBA Course 221 Business Valuation for Small and Medium Size Businesses 8
  10. Take and pass any 200 or higher series IBBA course 8
  11. Take and pass GREC class on Agency for real estate agents 4

Total hours of credit received 76

b. Comprehensive Exam

Take and pass a comprehensive exam administered by GABB with a minimum score of 75% of the questions answered correctly. Those holding a current CBI or M&MAI designations may exempt the exam.

BCB REQUIREMENT SOURCES

BCB applicants will fulfill requirements 1- 4 through GABB:

  1. Attend GABB orientation*
  2. Attend BBMS training*
  3. Attend a GABB or IBBA Conference* within the last 12 months
  4. Attend a minimum of 4 GABB meetings**

*GABB will provide the attendees to GABB orientation, BBMS training and GABB Conference with a certificate of completion. Applicants will provide documentation for attendance to the IBBA Conference.

**GABB Membership Committee will provide the attendance verification at the time of application for the BCB designation.

BCB requirements 5-10 can be fulfilled through IBBA:

  1. Take and pass IBBA on-line course 101 Introduction to Business Brokerage*
  2. Take and pass IBBA on-line course 501 Standards of Care for Business Brokers*
  3. Take and pass IBBA Course 210 Recasting Financial Statements*
  4. Take and pass IBBA Course 220 Introduction to Business Evaluation*
  5. Take and pass IBBA Course 221 Business Valuation for Small and Medium Size Businesses*
  6. Take and pass any 200 or higher series IBBA course*

*IBBA provides a record of attending and passing their courses which the applicant will provide copies.

BCB requirement 11 can be fulfilled through any Georgia Real Estate Commission approved school offering classes on agency:

  1. Take and pass GREC class on Agency for real estate agents**

**Classes through approved Georgia Real Estate Commission schools provide to the attendee a copy of attending and passing all Georgia Real Estate Commission courses.

Closed Transactions

Applicant will provide copies of the closing statements to verify this requirement. For GABB members the BBMS tracks and will provide a list of closed transactions.

Tenure in Business Brokerage

In the case that the applicant works for a firm the employer can provide a letter on their letterhead stating the period of time that the applicant has worked for them as an employee or independent contractor actively involved in business brokerage transactions.

In the case of a sole practitioner a copy of the listing of their business entity by the Georgia Secretary of State Corporation Division showing the entity creation date. In the case of a sole proprietor a copy of the business license issued from the city or county where they are located will serve as evidence of operation as a business broker.

BOOKKEEPING

·  BCB applicants will submit proof of coursework completed along with the application fee to the Professional Designation Committee (PDC) chair. The PDC chair shall forward a copy of the application and the application fee to the GABB Treasurer.

·  The Professional Designation Committee chair or a member of the PDC designated by the PDC chair, will post to the www.GABB.org members only website a spreadsheet summarizing the BCB applicant’s fulfilled requirements. Unfulfilled requirements will be left blank. Proof of completion of coursework will be scanned and stored on the GABB website.

·  A blank BCB requirement spreadsheet will be posted to the GABB.org website for download for any GABB member who would like to track their progress prior to application.

·  For those GABB members who have been awarded the BCB designation a spreadsheet will be posted to the www.GABB.org members only website by the Professional Designation committee so that they can review completed requirements and review the requirements that will be needed for renewal. The spreadsheet will be posted at the time the applicant is awarded the designation. BCB awardees will submit evidence of fulfilling the requirements for renewal to the PDC chair or their designee prior to application for renewal.

COST TO THE BCB APPLICANT

·  A one-time $ 100.00 application fee.

·  A recurring $25.00 fee for renewals.

·  Cost for the IBBA courses and potential travel costs.

·  Cost for the Agency class approved by the Georgia Real Estate Commission.

·  Cost of GABB and IBBA Conference fees and potential travel costs.

RENEWAL OF BCB DESIGNATION

BCB designations may be renewed every 4 years.

The requirements are:

·  Over a 4-year period each designee shall have attended no less than 30 GABB and/or IBBA meetings, conferences and/or educational meetings.

·  Have taken and completed a minimum of 2 GABB sponsored classes and/or attended 2 GABB conferences

or 2 IBBA conferences or classes for a total of 4 classes and/or conferences during the 4-year renewal period.

·  Renewal fee of $ 25.00

Application for Admission to the

Board Certified Broker Designation

Instructions:

·  Be sure all information is complete, accurate, and legible.

·  Please type or print clearly. Sign and date in ink.

·  Arrange for verification of educational qualifications to be forwarded to the Professional Designation Committee.

·  Arrange for the two character Reference Forms to be forward directly to the Professional Designation Committee.

·  A separate examination registration for is required to register for the comprehensive examination.

·  A completed application must be on file with the Professional Designation Committee to be considered a Candidate for BCB.

____ Mr. ____ Ms. ____ Mrs.

Name (as you wish it to appear on the certificate)

Last ______First ______Middle ______

Home Address ______

City ______State ______Zip ______

Phone______Cell Phone ______Fax ______

Georgia Real Estate Broker License Number ______

Georgia Real Estate License Broker Firm Number ______

Firm Name ______

Business Address ______

City ______State ______Zip ______

Phone______Fax______

E-mail______

Professional Affiliations

Name of Organization Title/Position Active/Inactive

______

______

______

Continue on the back of this page if a list of additional Professional Affiliations is needed.

Other Information

Birth Date (Month/day/year)______

Have you previously applied for candidacy for BCB? ______If yes, when? ______

Are you a member of GABB? Yes_____ No______Membership date ______

Have you ever been convicted of a felony? No_____ Yes_____ if yes provide a detailed explanation.

______

______

References

Two references are required. They cannot be from a person who is employed by your firm or a member of your family. Please have your references make their comments on the Character Reference Form and mail them directly to the Professional Designation Committee.

Personal (A)

Name______

Address______

Phone Number______

Personal (B)

Name______

Address______

Phone Number______

Education Qualifications

College Graduates

College or University Degree Date Received

Undergraduate ______

Graduate ______

Other ______

Business Brokerage Education and or Other Awarded Professional Designations that may fulfill some BCB requirements are listed below. Please place an X by any that you have received and the date awarded.

IBBA

_____ CBI ______Date received from IBBA

_____ M&AMI ______Date received from IBBA

IBA

_____ CBA ______Date received from IBA

_____ ABAR ______Date received from IBA

_____ BVAL ______Date received from IBA

_____ MCBA ______Date received from IBA

_____ AIBA ______Date received from IBA

NACVA

_____ CVA ______Date received from NACVA

_____ AVA ______Date received from NACVA

_____ CFFA ______Date received from NACVA

ASA

____ ASA ______Date received from ASA

AICPA

____ ABV ______Date received from AICPA

Metro Brokers

____ CBB ______Date received from Metro Brokers

____ CCB ______Date received from Metro Brokers

Murphy Business

____ CBC ______Date received from Murphy Business

Completed Requirements for BCI Designation (76 total hours):

Hours

______Date attended GABB orientation (4)

______Date attended BBMS training (4)

______Date attended GABB or IBBA Conference within the previous 12 months (8)

______Date passed a GABB or IBBA class within the last 12 months (8)

______Dates attended a minimum of 4 GABB meetings (4)

______Date passed IBBA on-line course 101 Introduction to Business Brokerage (8)

______Date passed IBBA on-line course 501 Standards of Care for Business Brokers (4)

______Date passed IBBA Course 210 Recasting Financial Statements (16)

______Date passed IBBA Course 220 Introduction to Business Evaluation (8)

______Date passed IBBA Course 221 Business Valuation for Small and Medium Size Businesses (8)

______Date passed GREC class on Agency for real estate agents (4)

______Date passed a 200 or higher series IBBA course or GREC approved course for Brokers* (8)

Total Hours Completed 76

______Date passed the BCB Comprehensive Exam or date received CBI or M&AMI

See the BCB Professional Designation Requirements for any possible substitutions for some of the courses of study. Please note and reference where applicable.

Experience in Business Brokerage

GABB will be contacting the employers listed below to verify the described brokerage experience. Please identify, where possible, the specific person or department within the organization who can attest to your experience. List most recent employment first. Identify any employment that is part time. Minimum experience required 24 months full time or 48 months part-time business brokerage experience.

*In lieu of the 2 additional IBBA or GREC Broker courses an additional 12 months or more of experience holding a Broker or Associate Broker’s license and having closed a minimum of 3 business transactions within the prior 3 years.

Name, Address, Phone Dates of Employment Job Duties

1)  ______

______

2)  ______

______

3)  ______

______

Documentation of Required Completed Transactions

The candidate shall furnish supporting documentation to evidence that they have been personally involved as a broker/intermediary in a minimum of three transactions in the last 12 months. Copies of closing statements as well as related listing agreements and/or cooperative brokerage agreements shall be provided to the Committee unless documented in the BBMS.

Real Estate Broker’s License

Please attach a copy of a current valid Georgia real estate broker’s license.

Photo

Please attach a current black and white or color passport-size photograph of yourself to this application.

Press Contacts

List the names, fax numbers, and addressed of local publication you wish to receive press releases about your certification.

Publication Address Fax Email Address

1)______

2)______

3)______

4)______

Signature

I agree to abide by the Standards of Ethical Conduct for Board Certified Brokers. I declare and affirm the statements made in the foregoing application, including accompanying statements and transcripts are true, complete and accurate. I authorize the investigation of all statements contained in this application. I have received, read, and understand the rules and regulations governing candidacy.

Signature of Applicant ______

Date______

Mail to: Professional Designations Committee

Georgia Association of Business Brokers

Professional Designation Committee Chair

Hank Tanner CBI, BCB

National Business Brokers, Inc.

958 McEver Road Extension

Suite B-2

Gainesville, Georgia 30504


Board Certified Broker

Character Reference

Applicant’s Name

______

Has submitted an application to the Georgia Association of Business Brokers to register as a candidate for the Board Certified Broker Program, and asks you serve as a character reference. Your answers should be related to the qualifications of the applicant to maintain professional and ethical standards. Please complete and return this form to GABB at the address shown below.

1)  How long have you known the applicant? ______

2)  Are you related to the applicant? Yes ______No ______

3)  Is the applicant currently in your employ? Yes ______No ______

Applicant’s current position:______

4)  If not a current employee, has the applicant ever been in your employ?

No _____ Yes ______Dates of employment ______

If yes, what was the applicant’s position? ______

5)  If not as an employee, in what connection have you known the applicant?

______

6)  Does the applicant have a good reputation with respect to character?

______