GENERAL
Applications annually open August 1 and are due August 31.
Nothing! It is free for agents to apply and all licensed agents are encouraged to apply.
No. All licensed agents in good standing are encouraged to apply.
SCORING
Applications are scored through our automated system based on a weighted scoring algorithm. Points are awarded for sales (60%), community contributions (25%), designations/certifications (7.5%) and industry involvement (7.5%).
If you report $25,000,000 in production and 39 units sold and have 4 members (including yourself) then those numbers will be divided by 4. The production used to calculate your score will be $6,250,000 production and 9.5 units sold. An agent with the same production who is an individual (1) will have $25,000,000 in production and 39 units sold.
PRODUCTION
Each applicant is asked to provide us with the broker or office contact who will have access to official sales/financial information for the individual/team. Once the application deadline has passed, the contact listed on the application will receive a request to submit the applicant’s production via our online portal. The broker/office contact will be responsible for making the submission through our secure portal. All production information must be received by September 30, 2019.
If you are applying as a team, your broker will be asked to submit all sales for your team regardless of whose name is on the contract.
Absolutely! The only thing constant in our industry is change. Each year, production levels vary based on the market and a number of other factors. The overall quality of the application pool for the current year will determine the production baseline. It could be if your production is lower than usual, it’s the same for others as well.
COMMUNITY INVOLVEMENT
Both monetary donations or time volunteered to a community organization can be counted.
Examples of community organizations include, but are not limited to:
Brokerage-specific committees, service and fundraising projects, HOAs, PTA/PTO, Junior League, Chambers of Commerce, University Alumni Associations, Rotary Club, Arts and Cultural Associations, Church activities, fundraising hours for non-profits, etc.
Applicants can earn up to 3 points for time volunteered and/or donations made between September 1 and August 31. The points are rewarded as follows:
- 1 pt Donated $100 – $500 or volunteered 1 – 8 hours
- 2 pts Donated $501 – $1,000 or volunteered 9 – 16 hours
- 3 pts Donated $1,001 + or volunteered 17+ hours
An organization can be listed a maximum of two times: once for volunteer hours and once for monetary donations.
If you volunteer for one organization throughout the year, the submission should be a single listing of the organization for the cumulative hours volunteered. A maximum of 3 points can be earned.
No. Only Community Involvement performed by the team lead applying for the award should be included on the application.
DESIGNATIONS
Applicants will receive one point per recognized designation. Designations account for 7.5% of the overall score.
PT50 recognizes designations/certifications that are recognized by Texas REALTOR® and National Association of REALTORS® .
INDUSTRY PARTICIPATION
Industry participation is defined as participation in real estate industry related organizations as a member, committee member or board member.
TEAM
Yes. The applying agent counts in the overall number of team members that is used to calculate production. If you have 3 agents who match our team member criteria, in addition to yourself, then 4 will be the number that is divided by your production and your units.
No. “Team” is defined by the people supporting/contributing to your business and not the names on the contract. If you have any licensed agents on your team who have been with you for more than one year and function in a sales capacity, then you are required to apply as a team.
Not sure if you are a team? Click here for the Platinum Top 50 definition of team.
Our scoring algorithm is designed to create fair competition between both individuals and teams. If everyone is reporting their information correctly, then there should be no distinct advantage for an individual or team.
Production and units sold are each divided by the total number of team members reported.
If you report 2 team members, $30 million in sales and 16 units sold, $15 million and 8 units sold will be used to calculate your score.
At this point, community, industry and designations are NOT divided by team members.
In order to uphold the integrity of the awards program, we are committed to closely verifying the information that is supplied to us in the online application. We reserve the right to omit applications based on falsely reported information.
In this scenario, you are counted as an individual within the parameters of Platinum Top 50. We trust you to use your best judgement when applying and will verify your classification as an individual with your broker/manager.
WINNERS
Once all applications and sales information are finalized, our automated scoring system ranks the applicants in all categories and the top 175 cumulative scores are considered finalists. Winners are the top 50 cumulative scores out of the entire pool of applicants.
Winners are announced and recognized at our annual awards ceremony in December. All finalists are invited to attend and will learn if they are a winner at the event.
