Multi-Million Dollar Producer Title-What Does It Mean To A Seller?

By
Real Estate Broker with CJ Realty Group, Inc.

Do Realtor® Awards Mean Anything To A SellerOver the last few weeks my local Realtor® association has bombarded me with emails reminding me it's time to apply for the 2011 Awards and Recognition.  Thank you but I'll pass.  It's not because I haven't qualified for the Top Residential Producer Award from the Northern Virginia Association of Realtors® (NVAR) but because I don't think the phrase means anything to the average consumer when they see it on a business card.

First let's say that "Multi-Million Dollar Producer" and "Residential Top-Producer" in Northern Virgina are different meaning depending on what Realtor® association you belong to.

If you belong to NVAR to qualify for the "Multi-Million" award you must have sold at least $3 Million or 24 units and for "Top Producer" at least $6 Million or 48 units.  However drive just a little bit south to Prince William Association of Realtors® (PWAR) and the criteria for those awards changes. Members of PWAR only need to sell $1,750,000 for "Mutli-Million Producer" and for "Top Producer" the award level is $4,500,000.

Now what?  If an agent proudly walks in to your home and says I'm a member of the Multi-Million dollar club you don't know if that's for under $1.7M worth of sales over $3M.  And the next question is should you care?  Some folks are awarded lifetime achievement awards as "top producers" who haven't sold the minimum required to make a club in years.  Others like myself don't pay to put the title on our business cards.

What you should be concentrating on is the professionalism of the agent you are hiring to sell your home.  Do your homework.  Will they take the time to make your home stand out on the Internet, where 90% of buyers start their new home search.  Ask to see photos on their website, blog or in the MLS.  How do they look?  If they are dark and blurry quickly say NEXT.  Are they reachable during reasonable business hours?  Do they have a track record of success in today's difficult market? Ask to see their MLS sales record for the last year?  What's the list to sales price ratio of their sales in the last year?  Will they give you the number of a recent client so you can talk to them?

There's a big difference in having a professional Realtor® working with you to sell your home  and a Realtor® who wants to brag about the number of clubs they belong to or the number of designations after their name.



 

 

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                                   Real People*Real Lives*Real Estate

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and CJ Realty Group,  a call at 703-346-2213. 

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Topic:
Home Selling
Location:
Virginia Fairfax County Lorton
Groups:
Addicted to Active Rain
CRS - Advantages
National Women's Council of Realtors - Not Just for Women!
RE/MAX Active Rain Bloggers
Tags:
realtor awards
woodbridge real estate
lake ridge real estate
northern virginia real estate
ft belvoir real estate

Comments 38 New Comment

Ambassador
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Cindy Jones
Pentagon, Fort Belvoir & Quantico Real Estate News
CJ Realty Group, Inc.

Jerry-I heard someone refer to the same situation and then we wonder why consumers consider that we are "overpaid". 

Eric-and of course in most areas the award criteria has changed over the years as well.  Making it even more suspect.

Mark-very well said. Have a great week.

Debbie-the value of saying it has been diluted by anyone who claims they are #1.  It could be for their neighborhood, their block or what?

Phil-absolutely.  I'm not bringing home 7 figures.

January 16, 2012 08:29 AM
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Cindy Jones
Pentagon, Fort Belvoir & Quantico Real Estate News
CJ Realty Group, Inc.

Bryan-in my association some of the longevity awards come from being consistent for a period of years in production levels.  Once you get the award you can put it on your business card forever whether you are still producing or not.

Cheryl-and that's only two associations.  Who knows what it might be for the Dulles Association or the Fredericksburg one.  Many agents sell across all the boundaries so I guess you could pick the lowest common denominator to join to win an award.

Lorraine & Loretta-true in some of our local areas as well.

Bryant-for your area it is very different than ours.  There are teams here that easily sell over 50 homes.  They did a few years ago change the team and individual criteria making it a bit more balanced.

 

January 16, 2012 09:15 AM
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Cindy Jones
Pentagon, Fort Belvoir & Quantico Real Estate News
CJ Realty Group, Inc.

Jared-our clients only care about the service we provide to them not to the masses.

Joan-Congratulations on your success. 

Marc-in my area as you can imagine there are neighborhoods if you sold 1 house you'd be eligible for an award.

Ritu-Congratulations.  It is a worthwhile achievement but don't think it means anything on a business card to a consumer.

Kim-when I'm interviewed for a listing I bring a list of my sale from the previous year.  It's current and shows my skills in today's tough market.

January 17, 2012 06:35 AM
Ambassador
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Cindy Jones
Pentagon, Fort Belvoir & Quantico Real Estate News
CJ Realty Group, Inc.

Michael-I agree.  Multi-million dollar producer sounds as if that's take home pay. 

Bill-we have enough trouble making sure our industry is seen in a positive light and some of the TV shows aren't helping.

Kristin-there are so many designations that are offered by one off companies that it dilutes the designations approved by NAR.

Shelda-I had to go look up the designations you have after your name to see what most of them meant. 

Margaret-the only professional designation I use to any degree (and it's not on my business card) is CRS.

January 17, 2012 06:41 AM
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Cindy Jones
Pentagon, Fort Belvoir & Quantico Real Estate News
CJ Realty Group, Inc.

Jeanne-that's true and sad at the same time.

Evelyn-I think you used the best word "trust"

Sharon-the hype around multi-million dollar producer had be excited my first year in real estate.  Then I realized it didn't mean anything to my clients.

Justin-what are the criteria for DAAR awards?

 

Fernando-that's why we can always cut our commission.  We make to much already...HA!

January 17, 2012 06:44 AM
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Cindy Jones

Pentagon, Fort Belvoir & Quantico Real Estate News
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