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Awards » Circle of Excellence » Apply » Frequently Asked Questions

Frequently Asked Questions

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WHAT’S NEW IN 2023?

There is a new name, updated rules, and simpler participation. What was previously known as the Deal Makers Award program, has been updated to better meet the maturing commercial real estate market in our region. With the new name (now the Circle of Excellence Award Program or CEA), there are some new and more clarifying rules:

  • Calculating Volume Credit. Each side of the deal will receive 100% of the total transaction value. Thus, if you are a buyers/tenant representative for a $3 million accumulated lease transaction, your team will allocate the full $3 million, based on the % commission credit (thus if you receive 50% of the commission, you will receive $1.5 million volume credit).
  • Total Volume Credit. The minimum threshold for transaction credit in 2022, is $5 million.
  • Submitting Your Transactions. There are two options: 1) complete the provided CEA Entry Form and submit via the new application portal or 2) firms that have multiple firm submissions may seek pre-approval submission via reporting from their transaction tracking system. Contact [email protected] for more details on pre-approval. All award applications will be required to be fully paid prior to consideration.
  • Award Categories. There are eight (8) categories for top producer categories. The top producer in each category will be recognized with three (3) runners-up (in no specific order).
  • Opt-Out Option of Charlotte Business Journal and Social Media Recognition. Do you like to submit but not be published? In 2023, you can opt-out of this recognition.

1. WHEN IS THE APPLICATION DEADLINE?

Friday, January 20, 2023. All applications must be submitted online via the electronic application site (attaching your Entry Form) which can be accessed at www.crcbr.org/cea. All your Award transaction data must be submitted electronically via the portal. Your 2023 CRCBR dues must be paid-in-full, the $75 Award application fee paid, the application submitted, and BIC approval, for your application to be considered. There will be NO Application extensions.

2. HOW MUCH IS THE APPLICATION FEE?

The application fee is $75 and will be paid via the application portal. Your fee includes attending the celebration luncheon, all advertising for the Circle of Excellence Award program, and Award expenses.

3. WHAT IS THE VOLUME REQUIREMENT FOR THE 2023 CIRCLE OF EXCELLENCE AWARD?

The minimum volume requirement is $5 million for 2022 sales production. NEW in 2023, volume credit is calculated differently. Full volume credit is allowed for either side of the deal (Buyer/Tenant or Seller/Landlord). Claiming dual agency requires an executed agreement by both parties (see page 5 section 7.a.9. of the Rules)

4. IF A BROKER WHO COOPERATED ON A TRANSACTION WITH ME IS NOT GOING TO SUBMIT AN APPLICATION, CAN I TAKE CREDIT FOR THE ENTIRE TRANSACTION?

No. You may only take credit for the part of the transaction you completed, and the volume credit must be calculated in direct proportion of the percent commission you received. For instance, if you cooperated with someone representing the same side of the transaction on a $3 million dollar transaction with a commission of 50%, then you can claim $1.5 million in sales volume credit.

All real estate agents, including out-of-town brokers that referred the deal and were paid a commission, MUST be listed along with their percentage of commissions earned to qualify (out-of-market brokers may be listed on the transaction sheet by their office rather than individually). Volume credit can never be distributed without following the appropriate guidelines.

5. CAN I COUNT OUT OF STATE TRANSACTIONS TOWARDS MY TOTAL VOLUME?

Yes. Like noted above, all brokers paid a commission must be listed along with their percentage of commissions earned to qualify.

6. CAN I CLAIM A TRANSACTION THAT WAS NOT COUNTED FROM THE PREVIOUS YEAR TOWARDS THIS YEAR’S CIRCLE OF EXCELLENCE?

No. Only transactions for sales or leases that were completed or fully executed during the qualifying year (2022) can count towards Award volume credit, regardless of when the paperwork was turned in.

7. CAN I COUNT REFERRAL FEES AS A PART OF YOUR CEA VOLUME CREDIT?

No. Credit is not allowed for appraisals, evaluations, consultations, referral fees or fee-based non-contingent income.

8. CAN I STILL CLAIM CREDIT FOR A TRANSACTION THAT CLOSED IN 2022 IF A COMMISSION CHECK HAS NOT BEEN COLLECTED?

Yes. You can still claim credit for a transaction that was fully executed and signed during the 2022 qualifying sales year, if the commission or brokerage fee paid is reflected on a closing statement, lease agreement, valid commission agreement, voucher, or disclosure statement.

9. IF I SELL PROPERTY IN WHICH I HAVE OWNERSHIP, CAN I TAKE CREDIT FOR THE ENTIRE SALE?

You can claim credit for the entire sale if you have less than 10% interest/ownership in the property that was sold. However, any transaction in which the Applicant (either individually or as a principal of a partnership, LLC, corporation, or co-tenancy) owns more than a 10% interest in the property, shall not be used for volume credit (rules, page 4 section 7.a.2).

10. IF I SOLD RESIDENTIAL PROPERTY DURING MY QUALIFYING YEAR, CAN I CLAIM THAT VOLUME TOWARDS MY TOTAL CREDIT ON MY APPLICATION?

Residential transactions may be claimed towards your total Award credit, if 75% of your sales volume is Commercial.

11. HOW DO I DETERMINE MY TRANSACTION TYPE?

Instructions on categorizing transactions appear in the rules 7-9. Applicants are responsible for categorizing all transactions.

12. HOW MANY PEOPLE ARE RECOGNIZED IN EACH TOP PRODUCER CATEGORY?

In 2023, Top Producers will be recognized in eight (8) categories. Within those categories, the top four (4) producers shall be recognized. The first top producer will receive a special award and pictured in the Charlotte Business Journal, with the other three (3) runners-up noted in alphabetical order. In the Investment categories, two (2) runners-up will be recognized. The Award Committee, at its discretion, may consider reducing the number of top producer awards that will be given based on the number of applications received in each respective category.

The ranking is based on the pure volume of the respective category. Each potential top producer application will be reviewed carefully for validity and accuracy. The committee will not be held responsible for inaccurate information submitted and volume placed under the wrong category by the applicant. It is the applicant’s responsibility to submit accurate data.

13. IF I HAVE PAID MY 2023 DUES HOWEVER OTHERS IN MY FIRM HAVE NOT, CAN I APPLY BEFORE THE OTHER MEMBERS PAY?

All CEA Applicants must be members in-good-standing, meaning all dues and fees are paid-in-full. You may apply for the CEA, however, to complete the approval of your application, all members from your firm, must pay their 2023 dues in-full.

14. WHAT OTHER AWARDS WILL BE PRESENTED?

Broker-to-Watch Awards: For applicants with less than four (4) years’ experience, based on highest volume credit.
Pinnacle Awards: Recognizing ongoing participation in the award program, recognizing for each ten (10) years of participation.
Volume Recognition: based on total production levels. No dollar figures will be included in the award recognition. The following levels will be recognized:

  • Platinum – over $30 million
  • Gold - $20 to $30 million
  • Silver – $10 to $20 million
  • Bronze - $5 to $10 million

Applicants may opt-in or -out of the media recognition during the application process.

In 2023, we no longer present top producer awards based on total volume of all combined categories, firm size, or developer vs. broker production.

15. WILL AWARD PLAQUES OR CERTIFICATES BE PRESENTED?

The top producers (in each category) will be recognized with a custom award during the celebration lunch. All award winners may choose to order a plaque recognizing their volume award category directly from the vendor. An order link will be sent following the celebration lunch. The cost, depending on shipping, will be approximately $75. Delivery takes approximately three (3) weeks.

16. CAN MY CEA APPLICATION FEE BE REFUNDED OR TRANSFERRED?

No. The 2023 application fee is $75 and is non-refundable and non-transferable. The application fee covers various costs to bring together the entire production.

17. WHEN AND WHERE WILL THE CIRCLE OF EXCELLENCE AWARD PROGRAM TAKE PLACE?

Tuesday, February 28, 2023, 11:30am to 1:30pm at the Mint Museum Uptown. Applicants may attend free of charge by RSVPing during the application process. General registration is open for anyone with an interest in celebrating the successes of 2022. More information is available at www.crcbr.org.