304 River Rd. • Columbia, TN 38401
931.381.5556 • www.SMTAR.com
The annual dues of each principal broker or principal appraiser, otherwise known as Designated REALTOR, is calculated as "broker/appraiser dues amount plus dues amount times number of licensees". The amount the Designated REALTOR must pay is then reduced when the licensee chooses to join as a REALTOR.
Let's pretend association dues are really cheap at $10 (they are not!)
If only Broker John is a member of the association and Broker John has 5 licensees in is firm....
EXAMPLE: Broker John's dues are $10 PLUS 5 x $10 = $60 total
If Broker John gets 3 of his agents to join the association as REALTORS, then we can deduct those 3 agents from his calculation.
EXAMPLE: Broker John's dues are $10 PLUS 5 x $10
=$60 total MINUS 3 x $10 = $30 now due for Broker John
To make things easier on our members, SMTAR invoices each member individually and then finalizes annual billing by sending a NonMember Assessment invoice to each Designated REALTOR in January. The NonMember Assessment billing covers each licensee that does not renew membership or each new licensee that has not joined the association. We will send NonMember Assessments throughout the year as we review your licensee rosters.
The annual dues of Members shall be as follows:
(a) REALTOR® Members. The annual dues of each Designated REALTOR® Member shall be in such amount as established annually by the Board of Directors, plus an additional amount to be established annually by the Board of Directors times the number of real estate salespersons and licensed or certified appraisers who (1) are employed by or affiliated as independent contractors, or who are otherwise directly or indirectly licensed with such REALTOR® Member, and (2) are not REALTOR® Members of any local
Association in the state or a state contiguous thereto or Institute Affiliate Members of the Association. In calculating the dues payable to the Association by a Designated REALTOR® Member, non-member licensees as defined in (1) and (2) of this paragraph shall not be included in the computation of dues if the Designated REALTOR® has paid dues based on said non-member licensees in another Association in the state or a state
contiguous thereto, provided the Designated REALTOR® notifies the Association in writing of the identity of the local Association to which dues have been remitted. In the case of a Designated REALTOR Member in a firm, partnership, or corporation whose business activity is substantially all commercial, any assessments for non-member licensees shall be limited to licensees affiliated with the Designated REALTOR (as defined in (1) and (2) of this paragraph) in the office where the Designated REALTOR holds membership, and any other offices of the firm located within the jurisdiction of this Association.