Applicants must submit a portfolio that substantiates specific levels of volume achieved in land sales or in providing real estate services related to land.
Definition of Land Transaction: The value of the land, including improvements that are agricultural in nature, must account for at least 51% of the total sale of the transaction in order for the transaction to be eligible. Agricultural improvements include, but are not limited to, barns, livestock operations, equine facilities, etc. All transactions submitted in a portfolio, including residential transactions, must meet the land definition criteria.
Timeline for Transactions: Transactions must have been completed no more than five years prior to the submission of the ALC portfolio, unless otherwise noted in specific specialty categories below.
Residential Definition: For the purpose of the ALC portfolio, a residential transaction is defined as a single-family parcel with at least five acres. The 51% rule on land value still applies.
Volume Calculations: For volume calculations in the Sales, Auctioneer, and Broker Management categories, the buyer side is equal to the full sales volume, the seller side is equal to the full sales volume, and if both sides of the transaction are handled by one agent, double the volume of the transaction for the purpose of fulfilling the volume requirements. For example, if John Doe is the listing agent on a $1 million-dollar sale, count $1 million; for the buyer side, count $1 million for the seller side; and if both sides of the transaction are handled by one agent, count $2 million for the purpose of fulfilling the transaction requirement.
Limitation on Personal and Family Dealings: No more than 20% of the transactions submitted in an ALC portfolio may be personal or immediate family dealings (meaning any transaction that requires disclosure in the state in which the transaction occurred.)
Transaction Supporting Documentation: Applicants must verify their participation in each transaction by either submitting a title/closing company verification as outlined in the Transaction Narrative Form or two forms of supporting documentation per transaction, which may include, but is not limited to:
- A redacted HUD-1 closing statement with buyer’s/seller’s proprietary information removed
- Proof of commission payment or verification of commission
- MLS closing statement
- Copy of executed contract or lease with all proprietary information redacted
- Recorded and signed deeds
Specific Requirements for Qualifying Categories
Sales, Brokerage, Development, Consulting, Investor/Developer
The portfolio must substantiate that the applicant’s participation and material involvement as a broker, agent, consultant, Investor/Developer or employee directly resulted in at least five closed land transactions totaling $10 million, or 25 separate land transactions. For applicants submitting 25 transactions, no more than 20% of transactions submitted may be from one residential development/subdivision/project and if one buyer closes multiple parcels with the same seller on one closing statement on the same day, those transactions are counted as one transaction for the purpose of the ALC portfolio.
The portfolio must substantiate that the auctioneer applicant’s participation and portion of commission directly resulted in at least five closed land auctions totaling $10 million, or 25 separate land transactions. For applicants submitting 25 transactions, no more than 20% of transactions submitted may be from one residential development/subdivision/project and if one buyer closes multiple parcels with the same seller on one closing statement on the same day, those transactions are counted as one transaction for the purpose of the ALC portfolio.
Appraiser applicants must be a licensed state certified general appraiser and submit a portfolio substantiating at least 30 land appraisals in the previous three-year period totaling at least $10 million. For each appraisal submitted, the appraiser applicant must submit an appraisal narrative form with supporting documentation.
Broker Sales Managers
This category is for broker sales managers who do not sell real estate on their own and only oversee other brokers. Broker sales manager applicants must have at least five years of sales management experience over other agents. They must submit an application detailing their management responsibilities and a portfolio showing a minimum of ten land transactions totaling at least $30 million in total sales volume within the previous two years. If more than 25 transactions are needed to reach the $30 million criteria, the applicant’s portfolio should document the 25 largest transactions, ideally highlighting the work of multiple land agents from the broker sales manager’s office.
Farm or Forestry Managers
Farm or forestry managers must submit a portfolio that substantiates proof of a minimum of 30 management agreements, timber sales agreements, active leases, or combination thereof, within the five years prior to applying.
Non-Transactional Land Professionals
This category consists of those high-level full-time commercial professionals whose primary function is a substantial contribution to commercial real estate but does not include brokering actual transactions (Bankers, Attorneys, Corporate Executives, Asset Managers, etc.). Five (5) or more consecutive years in the same role is required. Applicants for the Non-Transactional Land Professionals category must submit a portfolio that shows at least five consecutive years in the same role, a detailed explanation of the applicant’s duties and responsibilities in their role, and proof of the applicant’s participation and material involvement in at least five closed land transactions totaling at least $25 million.
American Association of Professional Landmen (CPL) and International Right of Way Association (SR/WA) designees
Must be a current Certified Professional Landman (AAPL) or a Senior Right of Way Professional (SR/WA) with a minimum of three years of experience. The portfolio must substantiate the applicant’s participation in no less than 25 closed land consulting cases.