GMAC Real Estate National Awards General Criteria & Program Rules

Eligibility

Strategic-Partners and Sales-Partners must be licensed, active members of GMAC Real Estate at the time of Award presentation. Strategic- Partners must be current in financial obligations to GMAC Real Estate and in good standing in all other areas at the time of presentation.
To be eligible for award and recognition calculations, all transactions must be reported in the method prescribed by GMAC Real Estate.
Production is based on Sales and Listings sold, closed and royalty fees paid within the calendar year 2007. Business written in 2006 that closed in 2007 may be included.
All Award commission calculations shall be based on Franchisable Gross Commission Income (GCI) only (not volume). GCI is defined as, the actual revenues received by the Strategic-Partner after division with other Cooperating Broker Companies (including outgoing referrals) prior to payment of splits with your own Sales-Partners.
GCI is derived from the sale of properties listed by the GMAC Real Estate Strategic-Partner, sale of other company’s property listings, and all fees earned from the leasing, management, consulting or appraisal of properties and any other Franchisable income.
Production that qualifies for awards must consist of residential revenue only. Unimproved land qualifies for residential revenue provided it is zoned for residential usage.
Revenue generated from commercial sales transactions should not be included in overall GCI or Closed Units reported for awards.
Referral Fees received from the GMAC Broker-to-Broker Referral program are eligible for inclusion when calculating Sales-Partner and Company/Office Awards.
Timeshare transactions cannot be included in calculation of GCI and/or Closed Units for awards reporting.
All dollar amounts submitted for International Master Franchise Awards should be expressed in U.S. Dollar currency.
Provided it is verified by the Owner/Manager of the GMAC Real Estate Franchise Company, business that has closed or will close in 2007 written prior to joining GMAC Real Estate may be included when calculating Sales-Partner qualification for 2007 Sales-Partner Awards. Individual production written prior to joining GMAC Real Estate will not
be eligible for inclusion in calculation of Company/Office Awards.
The individual Awards component of this program is designed to recognize Sales-Partner productivity. Broker/Owners having 25% or greater ownership will not be eligible for participation. In companies where a full time non-selling broker/manager other than the broker/ owner is responsible for the day-to-day management of the company, the selling broker/owner will be eligible for Individual Awards.
In the event of a tie in the award category of “Closed Units,” GCI will determine the winner.
Individual Production – refers to individual Real Estate Sales-Partners representing themselves in all Real Estate transactions and activities.
Team Production – refers to a Sales-Partner who is assisted by one or more licensed Sales-Partners performing non-clerical real estate activities on behalf of the team leader.
To be eligible for Referral Production Awards, referrals must be registered and closed through the GMAC Real Estate “Broker-to- Broker” referral program.

Divisions
The GMAC Real Estate membership is divided into five divisions. Full-time Sales-Partners, part-time Sales-Partners and all licensed assistants are counted. The company size categories are as follows:

Division I	1-10	Sales-Partners
Division II	11-25	Sales-Partners
Division III	26-50	Sales-Partners
Division IV	51-100	Sales-Partners
Division V	100+	Sales-Partners

Calculating Units and GCI

SALES-PARTNER PRODUCTION
Closed Units: each closed, paid, side or end of a transaction is counted as 1 Unit. If your Sales-Partner lists a property and a competing Company or other in-house Sales-Partner sells it, the Listing Sales- Partner, is credited with 1 Closed Unit. If your Sales-Partner sells a property listed by a competing Company or other in-house Sales
Partner, the Selling Sales-Partner is credited with 1 Closed Unit. If your Sales-Partner both lists and sells a property, the Sales-Partner is credited with 2 Closed Units.

GCI: Gross Commission Income is the actual commission received by the company and includes both the Company and the Sales- Partner portion of the total commission. For example: a home sells for $100,000.00 @ 7% commission. If the property is listed and sold by your office, and the commission split is 50/50 between the listing function and the selling function, the Listing Sales-Partner would receive credit for $3,500.00 and the Selling Sales-Partner $3,500.00. If the same property is both listed and sold by the Sales-Partner, the Sales- Partner receives credit for $7,000.00 GCI. If the property is listed/sold by your office was listed/sold by a cooperating Broker: your Sales- Partner receives credit for $3,500.00 or the actual GCI earned by your company.

OFFICE PRODUCTION
Closed Units: each side or end of a transaction counts as 1 Closed Unit.

If your office/company lists a property and a competing company sells it, your office/company is credited with 1 Closed Unit.
If your office/company sells a property listed by a competing company your office/company is credited with 1 Closed Unit.
If your office/company both lists and sells a property, your office/company is credited with 2 Closed Units.

GCI: Gross Commission Income is the actual commission revised by the office/company and includes both the company and the Sales-Partner portion of the total commission.

For example: a home sells for $100,000.00 @ 7% commission.
If the same property is both listed and sold by your office/company, you received credit for $7,000.00 GCI.
If the property is listed or sold by your office/company and was listed or sold by a Cooperating Broker, your office/company receives credit for $3,500.00 or the actual amount of GCI received by your office/company.

ENTRY DEADLINE: DECEMBER 14, 2007

*Data submitted should be based on actual production from January through November 2007 and estimated production for December 2007.

All data must be submitted electronically using our new online awards entry form

All entries must be completed online and submitted electronically.
Contact Jenny Archer with any questions or issues: 1 800 274 7653.