KELLER WILLIAMS REALTY INTERNATIONAL AWARDS POLICY 2017 Production Year

Transcription

1 1. DEFINITIONS Group Team Individual Term Individual Team Status A KW Production Non-KW production Special Recognition Referrals Leases Units Non-transmitting Market Centers Description Three or more producing associates (Status A) who work together and total their production as a Group and pay at least a 25% commission to the Rainmaker of the Team.. They may have one or more assistants who handle clerical, administrative, and service functions that do not require a real estate license. All Groups must have a Rainmaker designated in the Team Tool. You must be this status as of 12/31/2017. *Expansion Groups please see Expansion policy Two producing associates (Status A) who work together and total their production as a Team. They may be a married couple or they may be two associates who designate themselves as a Team. They may have one or more assistants who handle clerical, administrative, and service functions that do not require a real estate license. If one or more of the assistants has a license, but does not show property, sign contracts, negotiate contracts, or solicit business (telemarketing, door knocking, or canvassing), then the two producing associates may still be considered in the Team category. You must be this status as of 12/31/2017. An associate who works as an individual producing agent (Status A). They may have one or more assistants who handle clerical, administrative, and service functions that do not require a real estate license. If three or more of the assistants has a license, but does not show property, sign contracts, negotiate contracts, or solicit business (telemarketing, door knocking, or canvassing), then the associate will be considered as a team or group depending on the number of licensed assistants. You must be this status as of 12/31/2017. A team created in team tool where the individual agent has 2 or fewer licensed assistants. For awards purposes these associates will be awarded as Individuals. *See Individual definition for rules surrounding licensed assistants. Status of those agents that have an active (A) real estate license. This includes all employees, agents, and agent staff assistants who have a real estate license. Team Leaders and other staff members that have a real estate license are always Status = A (Active). Production completed while part of Keller Williams Realty. Production earned within the awards year prior to joining KW. This production must be verifiable. Associates who qualify within our Top 5 award winners for a particular category and whose production includes non-kw production. They will be awarded a Special Recognition award; only associates whose entire production amount is from KW will receive a Top 5 award. Referrals are included in awards. GCI counts for both Associate Production and Market Center Production. Leases are included in awards. GCI and Units count for both Associate Production and Market Center Production. Sales and listings sold including leases. Non-transmitting Market Centers are not considered for awards. May 2017 Awards Policy 1

2 Term Rookie of the Year Launch Phase Growth Phase Achievement Phase Mega Agent Expansion Rainmaker Expansion Team Owner Contract Date Closing Date Team Tool Description Within those qualifying for the Career Launch Award, the Individual who has the highest GCI is recognized as the Rookie of the Year. Must be registered by December 31, 2017 and purchase a full week Family Reunion registration to be recognized. A Market Center that has been open with Keller Williams Realty for 0 18 months. A Market Center that has been open with Keller Williams Realty for months. A Market Center that has been open with Keller Williams Realty for 49 months or more. You must become a member in order for any Team/Group that would like to combine their production across multiple market centers. Individual who is head agent in a Group. It is the Associate who is the Mega Agent Expansion paying Member(s). The Contract written date as entered in WIN MORE. The Contract date must fall between the start and end dates of a team/group member for the team/group to receive awards credit. The contract close date as entered in WIN MORE. The Contract Close Date must fall within 2017 for awards credit. Team Administration tool accessible by Market Center Leadership for the tracking of team & groups within a given market center. All Teams & Groups must be entered into this system in order to be awarded as a team/group. Acronyms Acronym Term Description DA Disbursement Authorization Document that KW issues directing the closing company how to pay out funds from a closing. GCI Gross Commission Income Closed commission monies generated from the sale of real estate. Transfer GCI Transferred Gross Commission Income Closed commission monies, generated from the sale of real estate, while under a brokerage outside of KW. KWRI Keller Williams Realty International Franchisor. MORE Management Operations in Real Estate Proprietary software for managing listings, sales, associate s contact information, transmittal, DAs. MC Market Center Name reference for a Keller Williams approved franchised office. May 2017 Awards Policy 2

3 2. AGENT AWARDS CRITERIA Medallion Awards Criteria for Associate Production (Individuals, Teams, and Groups): *To receive your medallion you must register for a full event pass for Family Reunion by 12/31/2017. Award Level GCI (in US Dollars) or Units Bronze $60,000 to $119, Silver $120,000 to $179, Gold $180,000 to $239, Double Gold $240,000 to $299, Triple Gold $300,000 to $399, Quad Gold $400,000 to $499, Platinum $500,000 to $999, Double Platinum $1 Million to $1,499, Triple Platinum $1.5 Million to $1,999, Quad Platinum $2 Million to $2,499, Millionaire Agent Award $2.5 Million General Information These policies and guidelines are established in order to maintain the integrity and fairness of our awards program. KWRI compiles the production information through the MORE system and verifies the information with the Market Center and the Region as necessary. We encourage associates to confirm proper recording of all transactions at the time of submission into the MORE system to avoid incorrect reporting at end-of-year transmittal. Further, Previous production year closes out by January 2018 transmittal and no adjustments may be made thereafter for international awards purposes. We do encourage all Market Center and Regions to use their own discretion for their award purposes. A. You must be registered for a full event pass to Family Reunion 2018 by December 31 st, 2017 in order to receive your award or walk on stage at Family Reunion no exceptions. *Social or Day Passes are not considered for medallions. B. Medallion Awards are recognized for Individual, Team, Group and Expansion production as measured by GCI and units during the calendar year as reported with end of the year transmittal. For awards purposes, a Team or Group that only has one person at a status A (see Definitions section) will be treated as an Individual. A Team that has more than three people at a status A will be treated as a Group. A Group that only has two people at a status A will be treated as a Team. The Following Roles will be considered as producing associates to determine team/group status: Buyer Specialist; Individual Associate; Lead Associate; Listing Specialist; Team Leader (Rainmaker). C. For awards purposes, all GCI and Closed Units from leases and referrals are included in our calculations unless otherwise noted above. D. KWRI recognizes the Top 5 GCI & Closed Units performers in the categories of Individuals, Teams, and Groups. Recipients in the Top 5 categories must have exclusively pure KW GCI. May 2017 Awards Policy 3

4 For each category, those with GCI that would have put them in the Top 5 but have pre-kw transfers are not eligible for the Top 5, but instead are awarded Special Recognition. E. For all Canadian Awards they are calculated in Canadian Dollars and not converted to US Dollars F. Only agents that are transferred or registered for Family Reunion by 12/31/17 and attend the event will receive their award as part of their registration fee. G. Those that are not registered or transferred by 12/31/17 or do not attend the event will have the option to purchase their medallion after Family Reunion in March H. Any Team/Group member who wishes to receive a medallion must purchase a full week Family Reunion 2018 ticket. I. If a Team or Group fail to comply with the criteria listed below they will be disqualified from their award category and will be placed in either Individual or Team criteria. These teams/groups will not be able to walk the stage or be recognized at the Awards Ceremony. Individual Awards KW Individual Production A. If an associate leaves a Team or Group and returns to Individual status, the associate retains his/her production while on the Team or Group only as it was recorded in the MORE system. The Team or Group retains the production of the associate while the associate was a member of the team. (This is the ONLY occasion where production may be counted twice.) B. An Individual may consist of an associate closing business in more than one Market Center. Multiple MORE IDs for the same associate will be consolidated for award totals provided the associate has an Individual status under each MORE ID. All Individuals with 3 or more licensed assistants will be considered either a Team or a Group depending on how many licensed assistants are part of the Individuals Team. Pre-KW Individual Production A. Pre-KW Individual production may not include production attributed to a Team or Group at another company. B. Pre-KW Individual verifiable production may be applied to an Individual medallion award. It may not apply to an individual who is recognized in the Top 5 (those individuals are recognized separately under Special Recognition ). C. Pre-KW Individual production cannot be applied to a Team or Group award. Team or Group Awards KW Team or Group Production A. You must be registered for a full week pass to Family Reunion 2018 by December 31 st, 2017 in order to be recognized at Family Reunion no exceptions B. In 2017 the group Rainmaker must receive at least 25% of the total commissions and closed units for award purposes. C. All Groups must have a Rainmaker designated in the Team Tool. D. A single transaction side on a Disbursement Authorization (DA) may be assigned to only one Team or Group. Double counting of any one DA to more than one Team or Group is strictly prohibited. Attributing GCI to one Team or Group and the units to another is prohibited. Double-siding a transaction will count as two separate transaction sides, both in GCI and units. E. A Team or Group retains production of any associate only during the period in which the associate was a member. May 2017 Awards Policy 4

5 KELLER WILLIAMS REALTY INTERNATIONAL If an associate changes Teams or Groups during the year, the associate production earned while a member of any other Team or Group (or as an Individual) is nontransferable and remains in the GCI and units totals of the Team or Group which was attributed the production in the MORE system. Production of an associate counts toward Team or Group production only for the period the associate was a member of the Team or Group. * If an Individual associate joins a Team or Group, or if one Team joins or merges into another Team, the production earned prior to joining or merging will not be applied to the new Team or Group. F. In order to be recognized for multiple teams/groups in different Market Centers you must be a member of Mega Agent Expansion. (See Number 16 in the policy for more information) G. The Team and Group award is per location only and does not combine the Mega Agent Expansion locations for a combined GCI. (See Number 16 for more information) Pre-KW Team or Group Production (for teams or groups joining KW after Jan. 1, 2017) A. Pre-KW Team or Group production cannot be applied to an Individual award. B. Pre-KW Team or Group production may be applied to a Team or Group medallion award. This only applies if the Team or Group joined KW within the calendar year and if all members transferred to KW together (keeping the Team or Group intact). It may not apply to a Team or Group who is recognized in the Top 5. Those are recognized separately under Special Recognition. C. Pre-KW Team or Group production is transferable to another Market Center if the Team or Group (in its entirety) transfers. 3. CAREER LAUNCH AWARD CRITERIA A. You must be registered for a full event pass to Family Reunion 2018 by December 31, 2017 in order to receive your award/medallion or walk the stage at Family Reunion. B. To be considered for this award, this must be the agent's first real estate license year (not previously licensed and not a renewal) and he/she must be new to real estate when they join Keller Williams Realty. C. Anyone receiving their real estate license in 2016, will be considered for this award as long as their twelve (12th) months in real estate falls within D. The closed Gross Commission Income (GCI) from the 12 months since the agent(s) date when they first obtained their real estate license will be used to consider the agent(s) eligibility for the award not annual sales/production volume. This award is not based on calendar year production. E. Total GCI (not sales/production volume) for the candidates must be at least $150,000 F. The Individual who has the highest GCI, registered by December 31, 2017 and attends Family Reunion 2018, will be recognized as the Rookie of the Year. G. Market Center leadership will be asked to verify the associates GCI for the first 12 months and submit the names of missing candidates by December 31, GROWTH PARTNER AWARD CRITERIA A. You must be registered for a full event pass to Family Reunion 2018 by December 31, 2017 in order to receive your award/medallion or walk the stage at Family Reunion. B. In the spirit of win-win, only producing agents will have the opportunity to be awarded. For example, Team Leaders, MCAs, Operating Principals, Market Center staff and Regional staff are not eligible for this award. C. The candidates must have sponsored 12 or more gross (total) associates in the current calendar year. May 2017 Awards Policy 5

6 D. The associate who sponsored the most associates in the current calendar year will each be recognized as the Top Growth Partner of the Year. 5. RECRUITING AWARDS A. Black Belt Net Recruiting Award Criteria B. You must be registered for a full event pass to Family Reunion 2018 by December 31, 2017 in order to receive your award/medallion or walk the stage at Family Reunion. 1. For all Market Centers who have grown by 60 net agents in the current calendar year, including External Mergers and other companies merging into a Keller Williams Market Center. 2. The Market Center must be transmitting all 12 months of the year. NOTE: Internal Mergers (a merging of two or more Keller Williams offices and agents transferring from one Market Center to another) do not qualify for this award or Agents transferring from one KW Office to the other do not qualify C. Top Gross Recruiting Award Criteria D. You must be registered for a full event pass to Family Reunion 2018 by December 31, 2017 in order to receive your award/medallion or walk the stage at Family Reunion. 1. For the Top Market Centers who have recruited 120 associates in the current calendar year, including External Mergers and other companies merging into a Keller Williams Market Center. 2. The Market Center must be transmitting all 12 months of the year. 3. If the Market Center has a negative net they are disqualified from being awarded the Gross Black Belt Award. NOTE: Internal Mergers (a merging of two or more Keller Williams offices and agents transferring from one Market Center to another) do not qualify for this award PERCENT PLUS CLUB AWARD CRITERIA A. You must be registered for a full event pass to Family Reunion 2018 by December 31, 2017 in order to receive your award/medallion or walk the stage at Family Reunion. B. All producing associates whose Profit Share for the year is more than the amount they paid to be in Keller Williams Realty (i.e., the total of their Market Center Cap plus their Royalties.) To qualify for this award, the associate s Profit Share for the year must exceed $15,000. C. Non-producing associates and associates in a leadership position who do not pay a cap amount do not qualify for this award. D. Once an associate is inducted as a lifetime member of the 100 Percent Plus Club, he/she may proudly wear their 100 Percent Plus Club pins anywhere and at all times. E. Your award will be mailed to you in March May 2017 Awards Policy 6

7 7. PROFIT SHARING MARKET CENTERS AWARD CRITERIA A. You must be registered for a full event pass to Family Reunion 2018 by December 31, 2017 in order to receive your award/medallion or walk the stage at Family Reunion. B. All Market Centers will have the opportunity to earn this award if their Profit Share Pool reaches the following award levels: Award Level Profit Sharing Bronze $75,000 Silver $120,000 Gold $180,000 Double Gold $240,000 Platinum $300,000 Double Platinum $400,000 Triple Platinum $600,000 Quadruple Platinum $800,000 C. One Market Center in the Launch Phase will be recognized for Profit Share. D. One Market Center in the Growth Phase will be recognized for Profit Share. E. One Market Center in the Achievement Phase will be recognized for Profit Share. 8. MARKET CENTERS IN PRODUCTION AWARD CRITERIA A. You must be registered for a full event pass to Family Reunion 2018 by December 31, 2018 in order to receive your award/medallion or walk the stage at Family Reunion. B. All Market Centers will have the opportunity to earn this award if their GCI or units reach the following award levels: Award Level Millions in GCI or Units Bronze $4 700 Silver $5 1,000 Gold $6 1,200 Double Gold $7.5 1,500 Platinum $10 2,000 Double Platinum $15 2,500 Triple Platinum $20 3,000 Quadruple Platinum $25 3,500 C. One Market Center in the Launch Phase will be recognized for production. D. One Market Center in the Growth Phase will be recognized for production. E. One Market Center in the Achievement Phase will be recognized for production. F. Market Center Production for both GCI and units includes leases and referrals. May 2017 Awards Policy 7

8 9. MCA AWARD CRITERIA A. Transmittals must be accurate and on time every month. Accurate transmittals are due by the end of the third business day of the month. B. Production Royalty, Profit Share, and all other fees listed in Item 6 of the UFOC must be paid by electronic transfer of funds on or before the seventh business day of each month, following the month to which the royalty relates. These funds must be available for ACH draft from the Market Center's financial institution. C. Accounts receivable balance must be $0.00. D. Market Center must not have more than one profit share return on the same associate during E. Rookie Market Centers receive no award their first year. Market Centers must complete 12 transmittals by the end of the current production year to be considered for this award. F. You must be registered for Family Reunion by December 31, 2017 in order to receive your award or be recognized at Family Reunion. Award Level Criteria # of Agents Bronze Fulfills 1 n/a Silver Fulfills 2 n/a Gold Fulfills 3 n/a Double Gold Fulfills all criteria; meets agent count Triple Gold Fulfills all criteria; meets agent count Quadruple Gold Fulfills all criteria; meets agent count Platinum Fulfills all criteria; meets agent count Double Platinum Fulfills all criteria; meets agent count Triple Platinum Fulfills all criteria; meets agent count Quadruple Platinum Fulfills all criteria; meets agent count TL HALL OF FAME AWARD CRITERIA A. Team Leader for at least five years B. Recruited at least 100 gross associates per year. C. Teach Keller Williams University (KWU) courses in their MC or Region. D. Participate in KW MAPS Masterminds. E. Only nominees received from the Regional Director will be accepted as a nomination. F. Double KW Owner profit and Profit Share in your Market Center since assumed TL position *The KW Owner Profit and Profit Share excludes Outside Income G. Must be registered for Family Reunion by December 31 st, 2017 in order to receive your award or walk on stage at Family Reunion. H. Beginning July 1 st, you must attend 75% of the TL Calls in order to qualify for the Hall of Fame awards NOTE: The TL Hall of Fame is a lifetime induction. Inductees may insert KW Team Leader Hall of Fame 20XX language with the induction year on their card, signature, etc. May 2017 Awards Policy 8

9 REGIONS: Send nominations that fit the above criteria to by December 15 th, MCA HALL OF FAME AWARD CRITERIA A. MCA for at least five years B. Must be enrolled in MAPS coaching in C. Participate in KW MAPS Leadership Masterminds and/or Mega Leadership Camp. D. Must Attend Family Reunion. E. No Late Transmittals in 2017, and 75% of transmittals are completed by end of day 2. F. Market Center has an average net gain of at least five agents per month in G. Double KW Owner profit and Profit Share in Market Center since assumed MCA Position. H. Must be registered for Family Reunion by December 31 st, 2017 in order to receive your award or walk on stage at Family Reunion. I. Only nominees received by the Regional Director will be accepted as a nomination. J. Beginning July 1 st, you must attend 75% of the MCA Calls, in order to qualify for the Hall of Fame awards **NOTE: The MCA Hall of Fame is a lifetime induction. Inductees may insert KW MCA Hall of Fame 20XX language with the induction year on their card, signature, etc. Send nominations that fit the above criteria to halo@kw.com by December 15 th, HOME RUN LAUNCH AWARD CRITERIA To be considered for this list, the MC must have first transmitted in 2016 (with their twelfth transmittal falling some time in 2017). The MC must have achieved a total profitability of $100,000 or more. Total Profit is calculated Owner Profit + Profit Share. 14. KW COMMERCIAL PRODUCTION AWARD CRITERIA A. Must be a KW Commercial member B. Award will be given to Top Commercial member in GCI C. Award will be given to the Top Market Center that has added the most Commercial Members. D. Award will be given to the Top Region that has added the most Commercial Members. You must be registered for Family Reunion by December 31, 2017 in order to receive your award or walk the stage at Family Reunion. 15. KW LUXURY AWARD CRITERIA A. Must be a KW Luxury member B. Award will be given to Top Luxury member in GCI C. Award will be given to the Top Market Center that has added the most Luxury Homes Members. D. Award will be given to the Top Region that has added the most Luxury Homes Members. E. You must be registered for Family Reunion by December 31, 2017 in order to receive your award or walk the stage at Family Reunion. May 2017 Awards Policy 9

10 16. MEGA AGENT EXPANSION A. Must be a Mega Agent Expansion Member that has expanded to at least one additional location. B. Award will be given to the Top Expansion Business in GCI C. Award will be given to the Market Center with the most Expansion Members D. Award will be given to the Region with the most Top Expansion Members E. All Locations must pay a cap F. Must have Mega Agent Expansion Group in the system prior to December 2017 Transmittal *If an Individual associate joins an Expansion Group, or if one Team/Group joins or merges into another Team, the production earned prior to joining or merging will not be applied to the new Team or Group G. KWRI will begin accumulating Production numbers based on the start date of the Expansion Business. KWRI will not back date start dates to include production prior to the start date. H. Must Designate Rainmaker in the System for each location I. Team Expansion Business Owner must receive at least 35% of the total expansion team GCI. J. You must be registered for Family Reunion by December 31, 2017 in order to receive your award or walk the stage at Family Reunion. 17. OTHER Only Top Award recipients will be recognized on stage. These awards criteria apply to 2017 production, unless otherwise specifically indicated. Please ensure all data is correct prior to January 2018 Transmittal If you are not registered for KW Family Reunion prior to January 1, 2018 you can have the opportunity to purchase your medallion in March All Data transmitted in January 2018 will also apply to Industry Awards that KWRI submits on your behalf (i.e. Real Trends, NAHREP) A member of Market Center Leadership and/or a designated individual must pick up the awards from the Awards desk at Family Reunion, unless otherwise noted. If a member of Market Center Leadership and/or a designated individual does not pick up the awards from the Awards desk at Family Reunion medallions will be available for purchase in March You must be registered for Family Reunion by December 31, 2017, in order to receive your award at no additional cost and/or walk on stage at Family Reunion. May 2017 Awards Policy 10