PORTLAND METROPOLITAN ASSOCIATION OF
REALTORS® MILLION DOLLAR CLUB

RULES & REGULATIONS

ARTICLE III - MEMBERSHIP

Section 1. Application for membership shall be via submission of a form provided by PMAR, which is signed by the applicant and certified by the managing broker.

Section 2. Applications for membership must be received by the PMAR office and all qualifications for membership must have been met during the previous or current calendar year.

Section 3. An applicant must have the following qualifications:

1. He or she must be a REALTOR® member in good standing of the Portland Metropolitan Association of REALTORS®, and must have been a REALTOR® in the year for which qualifying dollar volume is claimed.
2. He or she must be acting in the capacity of broker. For purposes of these Rules & Regulations, a broker is one who is involved in professional real estate activity (as defined in ORS 696.010), and whose income from that activity is paid in the form of commissions in accordance with ORS 696.290.
3. He or she may be a Designated Broker provided that he or she meets Club qualifications.
4. He or she must have attained not less than $2,000,000 in closed dollar volume (sales and/or listings) or 20 transaction sides during the previous or current calendar year, with no more than five sides being lot sales. No commercial sales are to be used in determining volume. Commercial sales include properties with five units or more, apartment complexes, land zoned for commercial/industrial uses, manufacturing facilities and business opportunities.
5. Members of a team or partnership, or assistants, may split their closed dollar volume (sales and/or listings). However, at no time may members of a team or partnership, or an assistant, each claim the same closed dollar volume. Volume reported to the Million Dollar Club shall be the same as volume recognized for award purposes by the individual company of the member. Documentation must be provided and will be consistent for all levels of achievement in the Club, including the Broker of the Year Award.
6. Any unique situations not covered within these Rules & Regulations shall be dealt with on a case by case basis by the MDC Leadership Team.

Section 4. To renew membership in the Club, a member must comply with the following:

1. Renewing member must have attained not less than $2,000,000 in closed dollar volume (sales and/or listings) or 20 transaction sides during the previous or current calendar year, with no more than five sides being lot sales. No commercial sales are to be used in determining volume. Commercial sales include properties with five units or more, apartment complexes, land zoned for commercial/industrial uses, manufacturing facilities and business opportunities.
2. Renewing member must be a REALTOR® member in good standing of the Portland Metropolitan Association of REALTORS®, may be a Designated Broker, and must be acting in the capacity of broker as described in Section 3 (b) of this Article.
3. Renewing member must pay annual dues in accordance with Article VI of these Rules & Regulations.
4. Waiver of one or more of the conditions in this Section may be granted by two-thirds (2/3) majority vote of the MDC Leadership Team, acting upon written petition of the member requesting the waiver.
5. All applicant conditions as provided in Article III, Section 3 shall also be met.

Section 5. Diamond Member. The Club shall recognize those members who have attained not less than five million dollars ($5,000,000) in closed dollar volume. Members attaining this award shall be identified as Diamond Members of the Club. To qualify for this award, members must comply with the following:

1. He or she must have attained not less than five million dollars ($5,000,000) in closed dollar volume (sales and/or listings) during the previous or current calendar year.
2. A company computer printout of the transactions must be submitted when applying for Diamond Membership.
3. All applicant conditions as provided in Article III, Section 3 shall also be met.

Section 6. Platinum Member. A member may be a Platinum Member of the Club provided that:

1. He or she is a current member of the PMAR Million Dollar Club and has sold in excess of $20 million in closed dollar volume (sales and/or listings) during the immediate past four consecutive years.
2. A company computer printout of the transactions must be submitted when applying for Platinum Membership.
3. All applicant conditions as provided in Article III, Section 3 shall also be met.

Section 7. Diamond-Platinum Member. A member may be a Diamond-Platinum member of the Club provided that:

1. He or she is a current member of the PMAR Million Dollar Club and has attained not less than five million dollars ($5,000,000) in closed dollar volume (sales and /or listings) during the previous or current calendar year and has sold in excess of $20 million in closed dollar volume (sales and/or listings) during the immediate past four consecutive years.
2. A company computer printout of the transactions must be submitted when applying for Diamond-Platinum Membership.
3. All applicant conditions as provided in Article III, Section 3 shall also be met.

Section 8. Life Membership
Million Dollar Club Life Members shall be individuals who have maintained continuous REALTOR® membership in a National Association of REALTORS® recognized Local and State Association for 25 years, and have been a member in good standing of the Million Dollar Club (MDC) of any of the PMAR originating boards (Portland Board of REALTORS®, Washington County Board/Association of REALTORS®, Clackamas County Board/Association of REALTORS®) for 15 years. An application for Life Membership shall be made in such a manner and form as may be prescribed by the MDC Leadership Team, and shall be made available to anyone requesting it. All applications are subject to approval of the MDC Leadership Team. Approved MDC Life Members shall have the MDC standard qualifications waived for their Club membership. (Approved Life Members are responsible for annual payment of Realtor® dues and MDC dues, and may participate in MDC advertisements at the established annual rates).

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