FREQUENTLY ASKED QUESTIONS

 

What is the Elite 25sm?

Generally speaking, the Elite 25sm Austin represents the best of Austin’s Luxury Residential Real Estate Agents. The Elite 25sm is an organization founded by Stewart Title in 1994, which later came under the operation of Gracy Title after the two companies merged in July 2008. The Elite 25sm is now owned and operated by Elite 25sm Austin, LLC, beginning in the 2011 membership year. Tony Trungale is the managing director of Elite 25sm Austin LLC.  Elite 25sm owns the nationally service-marked (SM) for exclusive use of Elite 25sm Austin, LLC and their assigns annually. The real estate agents who are selected as Elite 25sm members sell luxury homes in the greater Austin area. Selection for the current year’s group begins in late January and the “Elite 25sm Year” runs from March to the following February (12 months total). To see the 2017 members, please visit www.elite25austin.com.

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How does being in the Elite 25sm benefit its members?

 There are three main ways in which being a member of the Elite 25sm is beneficial to a real estate agent. First, the Elite 25sm provides a networking and an educational arena for top-producing agents. Elite 25sm Austin LLC hosts monthly catered luncheons featuring monthly speakers that aid in informing the Elite 25sm membership of marketing trends, legislation, current issues, and pertinent education issues affecting membership and luxury real estate in Central Texas.

Members also use these monthly luncheons to update one another on their new own listings and luxury opportunities not yet on the MLS.  Second, being in the Elite 25sm is invaluable marketing for its members. Elite 25sm Austin, LLC coordinates all advertising and events for the Elite 25sm as a group, which enhances the exposure of its members. Past groups have regularly advertised in such publications as Austin Way, ReFine, Austin City Limits Live, Austin Monthly, Luxe, Performing Arts Programs, Tribeza, Performing Arts Programs and the Austin Business Journal, to name a few. Past group events include: Loretta Lynn, “Blondie”, "Steve Miller Band", “The Go Go’s” concerts with VIP access at Austin City Limits Live, March of Dimes, March for Babies and Austin Food & Wine Festival. Members are also featured on their own website (www.elite25austin.com) with regular updates and announcements on Twitter and Instagram (@elite25austin) and Facebook (Elite25Austin). Finally, membership in the Elite 25sm is a symbol of status and success in the Austin community, and inclusion in the group immediately raises an agent’s profile among potential home buyers and sellers.


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How much are the dues and what do they cover?

Dues are $3,000.00 per year and must be paid by cash, check or money order on or before the date of the announcement party on Wednesday, February 28, 2018. Should a credit card be used to pay for member dues, an additional 3.5% service charge will be paid by member (~ $105). This fee covers the announcement party as well as website, all shared marketing expenses as well as advertising and event budgets. Each luncheon is paid for by a Member sponsor or their selected speakers as randomly drawn from Member volunteers.

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When and where do the Elite 25sm meet? Can I miss a meeting or luncheon?

At the end of February, the new Membership group meets for the first time at the Announcement Party, which is held at a restaurant or hotel in the Austin area. The date of the 2018 Announcement Party is Wednesday, February 28, 2018. Each luncheon is held at a different listing of the Elite 25sm member who sponsors the luncheon, providing an invaluable opportunity to showcase their luxury listings to Austin’s top agents. Each member may only host one luncheon per year. The active list price of the host home must be equal to or greater than $1,000,000 and property must be approved by Tony Trungale.

The monthly luncheons are always held on the third Tuesday of every month, excluding December, from 11:30am to 1:00pm. Reminders will be sent by Tony Trungale but it is the responsibility of Members to attend no less than 7 luncheons annually. Each Member is allowed three luncheon excused absences. Should a Member miss more than three (3) Member luncheons (or a current Advisory Board Member more than 5), they will be subject to immediate removal for Elite 25sm Membership without refund &/or not allowed to participate the following year as determined by the Advisory Board.


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Who is in charge of advertising for Elite 25sm

Advertising decisions are handled by Tony Trungale and his team.

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What are the minimum criteria to apply?

The Elite 25sm minimum criteria for 2018 are shown below. The final selection criteria will be published after the 2018 members are selected by the Advisory Board. (Agent production is based on qualifying properties sold and closed in the 2017 calendar year earning 2% or more commission).

Individual Sales Criteria:

Minimum $10,000,000 in residential sales volume during the 2017 calendar year. [Includes homes sold in MLS, Customs, New Home Sales, Unimproved Property, Residential Lot Sales, and Private Homes]. PLEASE NOTE: Developer or Builder Listing side commissions for new projects will be excluded when 4 or more units within same project were exclusively marketed in 2016 by same listing agent or listing real estate company.


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How are the members selected?

Total number of $1,000,000+ qualifying 2017 properties sold earning 2% or higher commission as well as the total dollar volume of those same transactions exceeding $1M + sold price earning 2% or higher commissions will be anonymously considered by 2018 Elite 25sm Advisory Board when selecting 2018 Elite 25sm. Applicants expressly consent that the Advisory Board has exclusive authority when determining tie breakers. Recognizing Elite 25sm as a private, nonprofit organization, Elite 25sm Membership also expressly consents to Advisory Board’s exclusive authority to add or remove members with or without refund of dues for any reason. Elite 25sm Austin’s annual “Advisory Board” serves by invitation only and may be modified with or without cause exclusively by Tony Trungale. The Advisory Board is intended to include representatives from several but not all of Elite 25sm Membership

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How do I apply?

Obtain an application for 2018 Elite 25sm at www.Elite25Austin.com (applications will be available on or after December 31st 2017). You may pick up a printed application from Tony Trungale at PNC Financial Services (901 S. Mopac Expwy, Bldg 4 Suite 140, Austin Texas 78746). Or for emailed copy, please contact Tony Trungale at 512-917-2811 or tony.trungale@pnc.com to have one emailed directly to you.

Complete the application carefully and make sure it is signed by your broker or office manager to verify your sales volume and the applications accuracy.

Include with your applications copies of signed Final Closing Disclosures (CD’s) for all qualifying properties you have sold in the 2017 calendar year (REQUIREMENT: Four (4) properties with sales prices at or above $1,000,000.)

Receipted (by title company) Page 9 of Residential Purchase Contract for each transaction being used to qualify. Must show your name earning minimum of 2% commission in 2017 for consideration for Elite 25sm Membership. Do NOT submit deals that were shared with another agent or group of agents. They must be your own listings or sales as demonstrated by 2% commission payment on contract.

Submit the application and supporting documentation to Tony Trungale at Tony.trungale@pnc.com at PNC Financial Services (901 S. Mopac Expwy, Bldg 4 Suite 140, Austin Texas 78746). The application may be e-mailed, mailed or hand-delivered; however, we recommend hand-delivery to ensure both the safety of sensitive information and prompt delivery. Applications have been lost in the mail in the past and we will not extend the application deadline even in these circumstances. If emailed, the application as well as all supporting documentation must arrive by 5pm on the due date. Unless confirmation is received prior to deadline, please call and confirm receipt of all emailed applications and supporting documents with Tony Trungale (512-917-2811).


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What is the deadline for submission?

The 2018 deadline for submission is Wednesday, January 31st, no later than 5:00pm. Late applications will not be considered; there are no exceptions.

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Can I scan and send the application and supporting documents by email?

NEW: YES, submit to tony.trungale@regions.com but please confirm actual receipt of application and supporting documentation no later than 5pm on Wednesday, January 25th (Tony Trungale, Dir: 512.917.2811)

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Can I redact confidential client information from CD or executed contract?

Probably- Please contact Tony Trungale at 512-917-2811 to discuss.

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When will I know if I’ve been selected?

Invitations for new 2018 Elite 25sm members to the 2018 announcement party will be shared on Wednesday, February 21st, 2018. The official announcement party will take place the following Wednesday, February 28, 2018 from 6-9pm and attendance is required. The announcement party is a Member’s only event.

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Who do I contact for more information or questions?

Tony Trungale is the managing director of Austin’s Elite 25sm; he may be reached at (512) 917-2811 or tony.trungale@pnc.com

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