SALES AWARDS FAQS
2020 Sales Awards Recognition
Check out Team info here.
Frequently Asked Questions
Who qualifies for the Chicago Association of REALTORS® Sales Awards?
A: All CAR MRED subscribers, including designated REALTORS® and secondary members, qualify for residential category awards. The final data pull from MRED will occur on January 8, 2021.
All CAR members and CommercialForum subscribers may apply for commercial awards. The deadline for commercial applications was January 8, 2021 at midnight. Learn more.
What were the 2020 thresholds?
A: The 2020 recognition thresholds for both individuals and teams are the same: minimum $11 million in volume and/or 30 units. Rental and commercial are separate categories. The 2020 rental recognition threshold is 94 units.
Please keep in mind: thresholds may change each year pending annual overall member production.
How do I qualify for the Top 1%?
A: We are no longer doing a Top Producer/Top 1% Producer split. Those who are in a “medaled” category (Platinum, Gold, Silver, Bronze) will get logos with that designation following the Sales Award event. Those levels will be unveiled the night of the event.
What if I co-listed or was the second selling agent on a property?
A: For the purposes of the Sales Awards, only the primary listing agent shown in MRED receives credit for the transaction. Transactions listed in MRED as teams will be recognized as teams – get more information on teams.
Are commercial transactions combined with residential sales counts?
A: No. Residential and commercial are separated into their own categories. Residential data is pulled from the MLS; commercial awards are applied for.
What types of properties qualify for the residential awards?
A: Qualifying residential properties include types 1, 2 and 3. All properties must be in MRED at the time of the pull. We do not count non-MLS transactions for residential awards unless they are entered into the MLS using the Comparable Sales feature.
What types of properties qualify for the commercial awards?
A: Qualifying commercial properties include: Multi-Family 5+, Office/Tech, Bus/Bus w/Real Est, Retail/Stores, Mixed Use, Instut/ToDevelop, Industrial, Cross Property (Comm). You must apply separately for the commercial awards and submit evidence of your commercial-specific production.
What is the time period?
A: Properties that closed between 1/1/20 and 12/31/20. If a property is pending and doesn’t close until after 12/31/20, it will not be eligible until the following year.
Where must properties be located?
A: All properties that are in MRED are eligible. You are not restricted strictly to “Chicago” properties.
How many properties must I have closed in order to qualify?
A: The levels will be set based upon the final figures pulled following the January 2021 deadline.
When/where will I be recognized?
A: The Sales Awards Recognition Reception will be held in the spring of 2021. Depending on your sales volume and/or numbers of units, you may be recognized:
- in the Chicago REALTOR® Magazine special Sales Awards edition,
- on screen during the Sales Awards Reception,
- on stage during the Sales Awards presentations, or
- a combination of all three.
You will be notified prior to the event regarding which manner you will be recognized.
What if my property is not in the system?
A: Residential property sales must appear in the MRED system in order to qualify. FSBOs do not qualify unless you listed the property prior to selling it or entered it as a Comp. There are no exceptions to this.
There’s a listing that didn’t get counted originally. Can you add it in?
Please note: we are unable to manually add in any transactions following the verification deadline.
What if the listing broker will not update the cooperating agent field to include my name?
A: Contact MRED Rules and Regulations at (630) 955-0011. Adjustments to sales totals will not be accepted after the January 8, 2021 deadline. Do not wait until the last minute – there are no exceptions to this!
How do I verify my data?
Q: With MRED’s recent system change to the team structure, how will this impact team categories for the Sales Awards?
A: A task force is being developed to look at possible options for changes to team awards. Because we are well into the year, no change to team awards will occur for the 2020 year. If the task force determines that we will change the team award categories, all members will be notified so that you can properly plan ahead. Learn more about teams.
- Listing Agent = LAG = your six digit MRED number (beginning with a 1)
- Selling Agent = SAG = your six digit MRED number (beginning with a 1)
- Closed_date: 1/1/20 – 12/31/20
- Property type: detached single; attached single; two to four units