To be eligible for membership, each REALTOR applicant must have closed at least

$1,000,000 in new business during the qualifying year. For each sale claimed, the applicant

must be named on the original sales contract and meet all other stipulations as set out in the

Admission Requirements. A copy of the Requirements is supplied with each Official Form.

There will be no exceptions to any of the rules. This includes the deadline for submission of application and the policy that all applications must be typed.

The Spring Ball, honoring the MDC, will be held March 11, 2006. If you wish to attend, event tickets must be purchased.

NAME (First and Last Name only)Current Company

Any other name(s) under which you have qualifiedContact Phone Number (cell)

Other Boards in which you have qualified. Give years.

Please indicate the Class of Membership for which you are applying: (Subject to verification by the Awards Committee)

Active ______Life ______Active Life ______Phoenix______Active Phoenix______Silver Phoenix______

Class of Membership award received last year: Number of Years as a MDC Member:

FIRST DATE IN 2005 THAT YOU WERE A MEMBER OF A BOARD OF REALTORS ______

APPLICATION CHECKLIST:

Deadline for submission is 4:00 p.m. on Friday, JANUARY 20, 2006 Applications MUST be delivered to the Board Office by this deadline. POSTMARK DATES WILL NOT BE CONSIDERED IN QUALIFICATION PROCESS.

Application Fee of $50.00must be attached. Application fee includes a plaque and appropriate advertising.

Application must be submitted on official forms provided by Fayette County Board of REALTORS®Million Dollar Club. Photocopies of blank forms are acceptable and computer-generated forms are acceptable if they are EXACT duplicates of the Board form.

Application must be typed.

Photo (black and white or color), 3 l/2" X 5", showing Applicant name, Class of membership applied for, and Current company name on back of photo. PHOTOS MUST BE ATTACHED TO BE PUBLISHED.

If you would like your 2005 Sales Volume to be released to Communities Magazine, Inc., you must sign the release form on page 2.

For applicants who have transferred from another Board during the year: verification from previous board that 2005 dues were paid is required. Attach notarized certification of sales volume from each broker with whom you were affiliated during 2005.

Million Dollar Club Worksheet MUST be certified by the Designated REALTOR or his/her designee in accordance with Million Dollar Club Rules. Applicants must provide their Broker-Notarized certification from each brokerage with whom they were affiliated.

Volume Recap must be typed and Letter of Certification must be dated and signed by the applicant.

Keep a copy of the entire application for your records.

VOLUME RECAP

(see Million Dollar Club Rules for Guidelines)

— Must Be TYPED —

Total Dollar Volume Claimed – Current Firm$

Total Dollar Volume Claimed - Previous Firms$

Name of Other Firms affiliated with during Qualifying Year:

TOTAL CREDIT CLAIMED:$

LETTER OF CERTIFICATION

FOR THE

FAYETTE COUNTYBOARD OF REALTORS®

MILLION DOLLAR CLUB

I, , hereby make application for membership in the Million Dollar Club of the Fayette County Board of REALTORS® and attach hereto the required membership fee. In order that this application be considered, I hereby certify that I personally handled during the period January 1, 2005 through December 31, 2005 the real estate transactions on the attached forms totaling $______.

Date: , Applicant

COMMUNITIES MAGAZINE CONSENT

(Sales Volume Figures Release Required)

I, , do hereby give my permission to the Fayette County Board of REALTORS® to release my 2005 sales volume to Communities Magazine, Inc.

Date: , Applicant

Membership Admission Requirements

MILLION DOLLAR CLUB

FAYETTE COUNTYBOARD OF REALTORS®

(Approved by Board of Directors on September 23, 2004)

effective for

• • • QUALIFYING YEAR 2005 • • •

Transactions from January 1, 2005 to December 31, 2005

  1. ELIGIBILITY

Any employee or independent contractor (officer or otherwise) of any real estate Brokerage (individual or firm)

that is:

  • licensed under the Georgia Real Estate Commission,
  • a REALTOR member in good standing of the Fayette County Board of REALTORS, Inc.
  • who has not applied for, nor is a member of another Board of REALTORS’ MDC for the current year
  • whose principal Board as a REALTOR® is the Fayette County Board of REALTORS, Inc.

is eligible for membership. Only applicants whose names appear on the contract and who have

received commissions/fees are eligible for membership.

  1. QUALIFYING YEAR

A “Qualifying Year” shall be defined as a full calendar year beginning January 1 and running through December 31.

  1. MEMBERSHIP YEAR

A “membership year” shall be the calendar year immediately following the Qualifying Year.

  1. QUALIFICATIONS AND SUBMISSION

To qualify, each individual REALTOR® must fulfill the following requirements:

  1. Produce and close new business in the amount of, or in excess of, $1,000,000 during the qualifying year. Broker shall certify applicant’s volume by signing the MDC Worksheet.
  1. Must be a primary member in the Fayette County Board of REALTORS, Inc. on or before December 31 of the qualifying year. Additionally, applicant must be a member in good standing of the Fayette County Board of REALTORS, Inc. at the time of application and presentation of the award.
  1. Transferring applicants from other Georgia Boards must make application to join the Fayette County Board of REALTORS®, Inc. within thirty (30) days. The effective date for counting volume will be January 1st of the Qualifying Year provided the applicant fulfills all Board membership requirements. In the event the MDC applicant does not fulfill the foregoing requirements, then the applicant’s effective date for counting volume for MDC purposes will be the official date of Board membership in accordance with the Bylaws.
  1. Must be reviewed and recommended by the MDC Awards Committee and approved by the Board of Directors of the Fayette County Board of REALTORS®, Inc.
  1. Application, Volume Recap and Million Dollar Club Worksheet must be typed and submitted on current, official forms provided by the Fayette County Board of REALTORS®, Inc. with adding machine tapes attached. Computer-generated Million Dollar Club Worksheets may be submitted in lieu of the official form provided, however, the EXACTDUPLICATES must be submitted. Failure to have the appropriate information will result in disqualification of the application.
  1. Letter(s) of Certification must be signed, dated, and the volume must be indicated by the applicant.
  1. Broker Certification. Each Million Dollar Club Worksheet must be signed by the Broker or Designated REALTOR® (for a definition, see Bylaws: Article IV, Section 5, page 3) of the firm with whom the REALTOR®/Applicant is/was affiliated at the time the reported transaction(s) occurred. The broker thereby certifies that he has read the rules and regulations of the Fayette County Board of REALTORS® Million Dollar Club, has read and reviewed the application, and warrants that it is true and correct and that the applicant has met all the qualifications of the rules for admission to the Million Dollar Club. The broker also swears that all of the above information and any attached adding machine tapes and Volume Sheets are in accordance with his records and that a real estate commission/fee was paid in cash or collectible note. He understands that should there be any misrepresentation in form and or content of this application, other than typographical, the application submitted shall be automatically disqualified and the applicant and Broker/Designated REALTOR® will be reported to the Professional Standards Committee for unethical conduct.

The Broker/Designated REALTOR® may authorize another REALTOR® in his firm to sign the certification provided this authorization is in writing and on file in the Board Office prior to filing this application. This assignment of authorization in no way relieves the Broker/Designated REALTOR® from responsibility of certification of this application.

If applicant’s transactions are from more than one company, a Million Dollar Club Worksheet(s)

must be prepared for the transactions occurring in each company, signed and certified by the applicant and Broker/Designated REALTOR® of each company, then notarized.

  1. APPLICATION SUBMISSION

See qualifications in item 4(a) above.

The application must be submitted to the Board’s Awards Committee on or before the deadline date.

With each application, there must be a typed, signed, certified statement of the applicant’s closed business for the qualifying year, including the required information on the Million Dollar Club Worksheet. Each individual Million Dollar Club Worksheet must be signed and notarized.

Each such statement must be sworn to by the applicant and also certified by his/her Managing Broker that the applicant has qualified for the MDC under the present rules and regulations. WHERE A BROKER/AGENT SUBMITS A FRAUDULENT APPLICATION, HE/SHE WILL AUTOMATICALLY BE DISQUALIFIED AND REPORTED TO THE BOARD’S PROFESSIONAL STANDARDS COMMITTEE FOR ACTION.

If the Managing Broker has qualified for the MDC, he/she may choose to have another REALTOR®/Broker certify for his/her application that he/she has qualified for the MDC under the present rules and regulations.

With each application there must be a nonrefundable application fee as may be determined each year by the Million Dollar Club Committee, a subcommittee of the Awards Committee, of the Fayette County Board of REALTORS®, Inc., subject to approval by the Board of Directors. This application fee will be made payable to the FAYETTE COUNTY BOARD OF REALTORS, INC., to cover the expense of plaques, photos, and/or press releases, etc.

  1. CREDITS

Credits shall be allowed individuals for their personal production of sales, listings, and leases as follows:

a)For the Selling Agent(s), the maximum credit allowed shall be 50% of the amount of the closing purchase price. In the event there is no fixed or stipulated purchase price, (as in the case of an exchange of properties), then the values used to determine commission shall be the amount credited. The agent who procures the purchaser receives all this classification of credit regardless of who or what company is the listing agent of the property.

b)For the Listing Agent(s), the maximum credit allowed shall be 50% of the selling price as determined in Paragraph A above. The agent who procures the Seller receives all this classification of credit regardless of who or what company is the selling agent of the property.

c)In-House Transactions - When more than one individual REALTOR® within the same company participates as selling agents, listing agents, or as leasing agents, the volume credit shall be split between the participants according to the percentage of the agent commission/fees received by each agent.

d)Co-Op Sales - If more than one brokerage company participates in any one sale or lease, the volume credit allowed for qualification will be a maximum per brokerage company of 50% of the closing price.

e)For Open Listings, the same procedure as 6A and 6B above, provided however, that credit shall be given pursuant to Paragraph 6A and 6B above, if the agent claiming said Listing credit has procured the seller and purchaser and is the only agent on the transaction, regardless of agency relationship and regardless of whether a listing agreement exists.

f)Effective Dates

The effective date for credits for sales, listings, and leases shall be as follows:

  1. For sales and listings, the date on which title is passed shall be the date of credit.
  2. For leases, the date on which the lease term begins shall be the date of credit.

EXCEPTION:

In the case of a building contract, the effective date for credit for the lot is when

title is passed, provided a commission is paid at that time. In the event there is no

closing statement, for the improvements thereon the effective date for credit is at the

time commission is paid, proof of which is a copy of the commission check and contract

to purchase.

g)For the Leasing Agent(s), the volume credit shall be the amount of the gross aggregate rental called for in the original terms of the lease. The amount of the credit each agent receives shall be determined by the percent he receives of the total amount of commissions paid to all agents concerned. Credit shall be allowed for rentals, expansions, and exercise of options for renewals. However, credit shall be allowed only upon actual renewals for the year in which such new term begins.

If a lease contains an option to purchase at any time during the lease, the amount of the gross aggregate rental as discounted as prescribed above, shall be the amount credited. If the option to purchase is exercised during term of the lease, then the additional credit may be claimed in the year of closing if the purchase price is greater than the credit previously claimed. If an option to purchase is exercised after the specified term of the lease then the amount of the purchase price may be claimed as full credit in the year of closing.

If a lease allows either the Landlord or Tenant, or both, to terminate the lease prior to the stated expiration date, then the credit allowed shall be limited to the first date either (or both) parties have the right to terminate. If, however, the lease is not terminated, then the applicant may use the then remaining first term of the lease for credit in the year the right to terminate is not exercised. If a lease contains more than one option to terminate, then each such period shall be treated in a like manner.

For Cashed-Out Leases, full credit shall be given for the face value of the total rental to be paid over the firm term of the lease. These leases shall not be discounted, but shall be subject to the same treatment for cancellations and renewals as mentioned above.

h)Syndication: Where an individual REALTOR® sells shares of ownership in property through syndication, the volume credit allowed shall be in the same proportion as the percentage of ownership which that salesperson sells in the syndicated transaction.

i)Installment Commission: Full credit will be allowed in the year of closing of a transaction where an installment commission exists.

j)Ownership Position: Where a broker/agent has an ownership position in a sale, purchase, or lease for credit toward qualifying for membership in the MDC he/she will receive credit as otherwise stated herein and subject to the provisions of Paragraph 6 P below.

k)Transferable Credit: Credits shall be transferable from another Georgia Board to the Fayette County Board of REALTORS®, Inc. The credit allowed will be calculated in accordance with the Fayette County Board of REALTORS®, Inc. rules of admission and requirements for membership in the MDC.

l)Total Credit Amounts: Total credit amounts claimed by all applicants for purposes of qualifying for the MDC cannot exceed a combined amount of 100% of the total purchase price.

m)Broker/Manager Commission: Any commission earned in the capacity of a broker or manager cannot be credited, unless the broker or manager gets part of what would be normally considered the agent’s commission, and is thereby acting in a capacity similar to a cooperating agent. In such case, the volume credits shall be pro-rated as is the commission. All credits shall go to the person acting in the capacity of an agent.

n)Referral Fees: No credit shall be given for referral fees collected from any real estate transaction.

o)Out of State Sales: No credit may be claimed for listing or selling property in a state where there is no reciprocal agreement as recognized by the Georgia Real Estate Commission.

p)Consideration Earned: A monetary consideration must be earned and verifiable by the closing statement and contract effective for the Qualifying Year, in order for the sales transaction to be used as credit.

q)Personal Assistants: No volume can be claimed for property closed under the name of another licensee while applicant served as personal assistant for that licensee.

  1. CLASSES OF MEMBERSHIP

There will be six (6) classes of membership:

  1. Active Member: One who has been elected for the year immediately following his/her qualifying year.
  2. Life Member: One who has been elected to membership for the third (3rd) consecutive year, or in the fifth (5th) year of any five (5) random years.
  3. Active Life Member: One who has previously been elected to Life Membership and is also an active member.
  4. There will be a PHOENIX AWARD given for members with ten (10) years of membership. In the event that the recipient of the Phoenix Award desires the presentation of the official award, the cost of said award shall be paid by said recipient.
  5. Active Phoenix: Members who have been elected to Phoenix and are also active members.
  6. Silver Phoenix: Members who have been elected to membership for 25 years.
  1. USE OF DESIGNATION

Active Members of the MDC shall be authorized to use the MDC seal adopted by the Board of Directors of the Fayette County Board of REALTORS, Inc. for use on all calling cards and letterheads only during the year in which they are members of the MDC.

Active Members of the MDC may also wear the pin or insignia authorized by the Board of Directors of the Fayette County Board of REALTORS®, Inc. during their period of membership in the MDC.

Life Members, Active Life, Phoenix, Active Phoenix and Silver Phoenix Members of the MDC shall be eligible to use such seals and insignia as long as they live.

  1. RECOGNITION AND AWARDS

The applicants who qualify for the MDC will be recognized at a designated function of the Fayette County Board of REALTORS, Inc. At such time, said qualified applicants will be presented with a plaque by the Board.

  1. PREVIOUS EARNED AWARDS

All awards made by Georgia Boards shall be recognized towards qualifying for the above awards, if the applicant moves his/her primary Board membership. MDC membership shall be transferable as is primary membership between Georgia Boards. All MDC memberships shall be in only one primary Board at a given time, with the exception of Life Membership (as prescribed in Paragraph #13—"Prohibitive Use).