Earning the CCIM Designation Education Component. Definitely worth it. After all, the CCIM designation is designed to provide the consumer with confidence that the person wearing the pin has the commercial acumen to handle their real estate investment transaction smoothly. Jam packed with 61 proven real state lead generation ideas for this year. Frankly, I believe that they want it that way. We have a lot of people from different trades get a CCIM, including CPAs, attorneys, corporate asset management, investors, appraisers, and so on.”. Bestowed by the Chartered Alternative Investment Analyst Association, the CAIA® Charter is the educational standard for professionals who specialize in advising and managing alternative investments such as hedge funds, venture capital, private equity and real estate investments. A Certified Commercial Investment Member (CCIM) is a recognized expert in the disciplines of commercial and investment real estate.The designation is awarded by the CCIM Institute, formerly known as Commercial Investment Real Estate Institute (CIREI) of the National Association of Realtors. However, if you fail the first time, you will have up to four chances to retake the exam. Yes, scholarships are awarded through CCIM chapters and other scholarship sponsors. All of this, of course, cost additional money. And of course, the series of classes required to acquire your CCIM offer a lot of other helpful education as well. Representing a global community of 13,000 members, more than 50 chapters and 30 countries, CCIM educates and connects the world’s leading experts in investment strategy, financial and market analysis. Lastly, you must pass the Comprehensive Exam to prove you have the knowledge required to hold the CCIM designation. There has been a lot of discussion on BiggerPockets about whether it’s worth getting your broker’s license, but the question of whether to get your CCIM (Certified Commercial Investment Member) has been left mostly unanswered. CCIMs also include a variety of different professions involving real estate such as commercial brokers, lenders, and investors. Get FREE Actionable Real Estate Strategy Sent Straight To Your Inbox. Happy to answer any questions regarding CCIM. I’ll let Helen take this one: “No, you don’t. Expertise: Mortgages & Creative Financing, Business Management, Landlording & Rental Properties, Commercial Real Estate, Real Estate Deal Analysis & Advice, Real Estate Investing Basics, Personal Development, Real Estate News & Commentary, Andrew Syrios has been investing in real estate for over a decade and is a partner with, What, so nobody out there is interested in getting their CCIM? A CCIM is an invaluable resource to the commercial real estate owner, investor, and user, and is among an elite corps of 8,600 professionals across North America who hold the CCIM designation. Why or why not? But Maret and other CCIM advocates say the cost — and the time spent — is worth it. Oh well…. Institute candidate membership also gives you access to many benefits that can help you work smarter. The disadvantages of getting your CCIM boil down to two simple things: time and money. A CCIM does require a substantial amount of money and time, but for many investors, that cost is worth it in the education, networking opportunities and credibility you will gain. I have been a member of CCIM but never obtained the designation. I've heard plenty about CFA, CCIM, etc...but don't see much talk about the CRI designation and I'm curious if anyone has any insight or opinions on it. Designation Curriculum. Remember CCIM was created for brokers, although those same principles are great for appraisers, it is not framed in the context of USPAP, FIRREA, GSE, or any of the other great regulations we have. People with the CCIM designation, from a financial aspect, is it worth it? Related: 4 Ways Technology is Shaking Up Commercial Real Estate (& Why Multifamily Will Pull Ahead). Since the CCIM courses are self-paced, how quickly you get your CCIM is dependent on your personal time commitment. All in all, the classes and application fees add up to to either $8,960 (non-members) or $7,495 (members) as of this writing. On the other hand, if you are either in or aiming to get into the commercial space, a CCIM should certainly merit your interest. I'm also looking into taking it. CCIM’s are recognized as being experts in the commercial and investment real estate industry. Dedicating time and effort into the courses provided is extremely valuable to any commercial real estate practice. Simply put: No. Furthermore, having a CCIM puts you in a sort of club. Create an account today to get BiggerPocket's best blog articles delivered to your inbox. If you continue to use this site we will assume that you are happy with it. That means the cost of the CCIM is more comparable to a year in college than a traditional real estate designation. There are several elective courses to choose from, ranging from .25 to 1.0 credit each. This is because some of the course requirements are waived based on your previous knowledge and experience. Connect with 1,000,000+ real estate investors! Certified Commercial Investment Member, a recognized expert in the disciplines of commercial and investment real estate; Central Council of Indian Medicine, a statutory body in India; A former reporting mark of Corpus Christi Terminal Railroad If you’re still interested in getting a real estate designation, but want something with a lower financial and time commitment, check out our list: 8 Real Estate Designations That Will Actually Make You Money. The first part is completing the educational requirements, including four CCIM commercial investment courses, a negotiations course, an ethics course, plus a minimum of two elective credits. Having a CCIM can help you establish your credibility as a seasoned, experienced, and trustworthy syndicator with such investors. But when it comes to larger apartment or other commercial deals, I would highly recommend looking past simply calculating the cap rate. If you’re a broker-owner who wants to branch out into hiring more commercial agents, then a CCIM could be beneficial to managing them. CCIM stands for Certified Commercial Investment Member. An additional benefit of obtaining the CCIM designation is gaining respect from your peers and other commercial real estate agents. The education component of earning your CCIM designation is comprised of a four-course curriculum, an online ethics course, negotiation training, and elective courses from the Ward Center for Real Estate Studies. I'm a firm believer of education, and this sounds like a well respected one. When you’re dealing with transactions on such a major scale, having some outside certification that you know what you’re talking about is critical for developers working on multimillion dollar projects. Here you will learn how to strategically evaluate occupancy, such as comparative lease analysis, lease vs purchase analysis, lease buyout analysis, and sale-leaseback analysis, to optimize decisions regarding use and occupancy. Thank you for the topic. However, if you do a substantial volume of commercial or investment deals and you have the money and time, then getting your CCIM can be a valuable asset to your business. I'm currently in brokerage (4 years) and trying to get into an acquisitions role with an owner/developer. To apply for your CCIM designation, you must prove that you have had a “substantial involvement with real property of a commercial and/or investment nature.”. I have just recently heard of the CCIM designation. Some classes can be “Fast Tracked” if you can show evidence of your commercial real estate-related education. More importantly, CCIM Candidate members also receive discounts on the CCIM courses. Finally, there is an annual fee of around $600 to maintain your membership. We just need a few details to get you set up and ready to go! Your membership type will determine how many education requirements you’ll need to fulfill. Unless you are deciding to change to commercial real estate as your main focus, the cost is just too high and the requirements are too steep if your focus is on residential real estate first. In the face of economic uncertainty, investors are looking toward the long-term prospects of second-tier markets, also known as 18-hour cities. You sold me, I am looking into it now. There are many commercial clients that will only work with CCIM certified agents. But a number of the classes do require you to attend in person, but this is where you make your network connections and learn from people who are actually doing this at a high level. In this course, you will learn to evaluate the entire life cycle of an investment, from refinancing to capital improvements to disposition. “My pathway to receiving my pin cost well over $20,000,” says Maret, who became a CCIM in 2011. For the portfolio do they have to be deals that have been purchased? > Is the ABR® Designation Worth the Time and Money? Education is never a waste IMO, in addition it seems to open up some great networking opportunities. The education is what got me started, but I have decided to get the full designation. “I love my college, but CCIM has done more for me than my college degree in journalism,” says Maret, a former Tampa Tribune reporter. Use at least 8 characters. You will also learn how to perform geospatial analyses and forecast future demand. The Certified Commercial Investment Member designation is right for experienced leasing managers, brokers, agents, asset managers, appraisers, corporate investors, and investors. Finally, having your CCIM offers a variety of membership benefits such as access to their Site to Do Business for Real Estate Investors, which has tools such as ArcGIS Online and other programs as well as tuition discounts for additional classes and the like. A CCIM denotes a substantial amount of credibility in those industries, and given that brokers and lenders are looking to build such credibility with potential clients, a CCIM can be very beneficial. In addition, you must also provide a portfolio of experience, which can be one of the following: This portfolio can take some time to put together. Helen also says that many are unaware of scholarships that are available to help offset the costs. I had the volume requirement done before I became a candidate. Author of two books on Real Estate Investing, Sean worked as CEO of a real estate market center growing profitability through the recession while recruiting over 115 agents in a single year, landing Sean in the Top 10 in Keller Williams and #1 Commercial Market Center 2011. Subscribe today and get the Oct/Nov issue delivered to your door! Looking to jump from residential to commercial investing? If you are in commercial real estate NAR has the CCIM designation for those agents. Once you have completed your educational requirement, you will put together your commercial real estate portfolio to meet the CCIM experience requirements. I completed the CCIM four course curriculum in 2011. The real estate calculator they provide is quite powerful and allows you to quickly and efficiently calculate the net present value and internal rate of return (IRR) of a potential investment, which are helpful metrics for larger and more complicated deals. You can withdraw your consent at any time. The process of achieving the designation is a combination … REIClub.com and BiggerPockets.com both have threads on the subject. It is a commercial real estate designation that represents that the holder has completed the CCIM educational requirements, passed the CCIM exams, and has completed the required commercial transactions proving that they have not only the knowledge but the experience necessary to handle commercial real estate investment. Regardless of if you invest in small or large properties it is better to have well established and generally accepted methods of analysis. We do not accept money, services, or products in exchange for positive reviews or product placement. Qualifying activities are those that have taken place within five years of the portfolio’s submission date and in which you had substantial participation. It is a commercial real estate designation that represents that the holder has completed the CCIM educational requirements, passed the CCIM exams, and has completed the required commercial transactions proving that they have not only the knowledge but the experience necessary to handle commercial real estate investment. For an annual membership fee of $650 a year, it provides you access to commercial analytic tools, templates, and forms, as well as the CCIM Magazine. This course provides the foundation for the later CCIM courses. The one exception is if, like us, you buy small properties in bulk, particularly by purchasing portfolios. I am highly considering this designation. The one question most professionals in the commercial real estate industry want answered is, “Why should I go through the trouble and the cost to obtain a Certified Commercial Investment Member designation?” The value of this designation goes way beyond another title next to your name on a business card. Required fields are marked *. Certified Commercial Investment Member (CCIM) is a designation earned after hundreds of hours of rigorous study, completion of a comprehensive resume of qualifying experience and a 6 hour exam. The experts who possess the CCIM designation can serve as a resource for commercial real estate owners, investors and others. You should be able to use your prior experience towards your need. Even prior to obtaining your CCIM designation, you may choose to become a CCIM Institute Candidate member. The Certified Commercial Investment Member (CCIM) designation is a professional credential recognizing experts in commercial real estate investment. Candidate Membership – This membership type is appropriate for most commercial real estate practitioners who are pursuing the CCIM designation. Let’s talk about scaling in real estate, whether that means moving from no properties to single family or single family to commercial. Do you new clients care or even know what it is, or is it like any other real estate designation. I touched on what such a designation offers here, but it certainly isn’t for everyone. The CCIM Institute is a highly regarded commercial real estate and investment property organization based in the United States. In general, I mean taking your business to the next level. Hopefully, this article will help clarify that choice. To get your CCIM, you must complete four classes, each of which is four days long and costs $1,650 as of this writing ($1,145 for members). These can be earned by completing non-designation courses. taking the exam tomorrow! Helen has received over $50 million in just referral business alone, which she attributes to her CCIM designation. Jam packed with 61 proven real state lead generation ideas for this year, this eBook comes from coaches and top producing agents from around the country. Traditionally, CCIM classes are held classroom-style throughout the country, but due to COVID-19, many of these classes are now available online. In my judgement, the biggest advantage to having your CCIM is the credibility that comes along with it. Instead of just sitting around and wondering, I decided to do the research and find out if getting a CCIM designation is beneficial for a residential agent in 2021. CCIM is an abbreviation that may refer to: . The network of professionals is amazing, and it is a clear way to differentiate yourself among your non-CCIM peers. Now that you have a better idea of what transitioning from residential to commercial is like and the benefits of having a CCIM, let’s take a look at the steps to getting your CCIM. Using a phrase of random words (like: By signing up, you indicate that you agree to the, whether it’s worth getting your broker’s license, 4 Ways Technology is Shaking Up Commercial Real Estate (& Why Multifamily Will Pull Ahead), 6 Upgrades That Add Top Value to Your Commercial Investment Property, 10 Questions to Ask Before Working with an Out-of-State Broker, Advantages of 18-Hour Cities for Real Estate Investors in 2020 (& Beyond), Scaling From Single Family to Commercial Real Estate, 6 Commercial Investments Most Investors Don’t Consider, “Three (3) or more qualifying activities totaling $30 million or more; or, Exactly ten (10) qualifying activities totaling $10 million or more; or, Twenty (20) qualifying activities with no dollar volume requirement.”. A CCIM costs over $10,000 in 2021. Institute Members, also called candidates, are pursuing the CCIM designation through one of the three types of membership below. Related: 6 Upgrades That Add Top Value to Your Commercial Investment Property. A big reason that it takes some agents longer than others to finish their CCIM courses is that they don’t have a lot of prior commercial experience. If you signed up for BiggerPockets via Facebook, you can log in with just one click! Get 61 Proven real estate lead generation ideas for this year. Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. I am a designee and been involved for quite some time. Earning a CFP designation can be a great path for anyone looking at a career in investment or wealth management Private Wealth Management Private wealth management is an investment practice that involves financial planning, tax management, asset protection and other financial services for high net worth individuals (HNWI) or accredited investors. You will learn the Code and Standards of Practice of the CCIM Institute and complete and pass the online lesson quizzes and final exam. After 26 years of being a residential real estate agent, managing broker, and real estate coach, I too have wondered if there is a massive benefit for me to get my CCIM designation. It requires no additional designations or advanced degrees. Of the more than 150,000 commercial real estate professionals in the United States, an estimated six percent hold the Certified Commercial Investment Member (CCIM) designation. There are approximately 13,000 members in over 1,000 markets in 30 countries around the world. Start analyzing real estate properties, we do the math for you. CCIMs also include a variety of different professions involving real estate such as commercial brokers, lenders, and investors. In CI 101, you will learn about key financial concepts such as internal rate of return (IRR), net present value (NPV), cap rate, capital accumulation, and the annual growth rate of capital. I’ve heard other CCIM designees note that when they enter a new market, they will often look up the CCIM holders to contact first about it. A CCIM is definitely worth it to me. Knowing that you have your CCIM may put them at ease and they may be more willing to work with you and possibly send you referrals. Is the CCIM designation worth it? No, you don’t need to calculate the IRR on a single family house (not that it would do much good). A CCIM is an invaluable resource to the commercial real estate owner, investor, and user, and is among an elite corps of more than 9,000 professionals who hold the CCIM designation across North America and more than 30 countries. Any degree or certification is worth what the individual will get out of it. When doing such deals, you are usually raising funds from accredited investors. Even though the educational costs are steep, Helen says it was well worth it for her. Do you have advice about getting your CCIM? Some consider the CCIM designation to be roughly equivalent to an “MD” of commercial real estate. We have affiliate partnerships with these companies and make money when we feature their products on the site. The total cost of the CCIM designation program depends on whether you are a member and how long you take to complete the program. Well, there’s no reason to soften the blow here, so I’ll just say it. As mentioned above, it is probably the most beneficial to commercial brokers and lenders, but it can also be an advantage to investors as well. Learn what differentiates the two and where you can find some of the best deals. I am currently working on the residential side and am getting more and more into commercial. Membership to the CCIM Institute is required to submit your CCIM portfolio and application. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember. CCIM members close more than $200 billion in transactions annually. So whether you’re thinking about adding a CCIM to work more commercial deals, or want to make the leap to full-time commercial agent, this guide should answer all your questions and give you enough information to make a decision one way or the other. The knowledge gained is well worth the cost in time, effort and money. I decided 6 months ago I would begin my steps towards commercial real estate and have been educating myself and networking. The after repair value (ARV) and estimated cash flow should be sufficient. The Value of CCIM Designation. However, we do work with a select group of software companies and service providers that we feel provide real value for our readers. The CCIM Institute is affiliated with the National Association of Realtors (NAR), the organization that evaluates and tests candidates for and awards the CCIM designation. I have already signed up as a designee and have taken multiple classes. Today Sean teaches Salespeople to sell to their strengths through his consulting company 16 Strategies. I agree with many of the comments that it is driven by what you want to do. A grade of 70% or better is required to pass. Thinking of the CAIA® Charter: Is CAIA Worth It? In this course, you will learn to apply market and competitive analysis, political and legal analysis, site analysis, and financial analysis to make fundamental investment decisions. Two elective credits are required prior to taking the Comprehensive Exam. CCIM stands for “Certified Commercial Investment Member”. You must then also complete a short ethics course and negotiation course and finally take the comprehensive exam. This requirement can be completed either through the online Preparing to Negotiate course or the one-day classroom course Commercial Real Estate Negotiations. These investors are generally more sophisticated and thereby often more skeptical. Please let us know in the comments, or if you’re an active agent, join our Facebook Mastermind Group here. Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Second, you must substantiate your commercial real estate experience by providing evidence of your years of experience working in the commercial real estate industry or personal transactions where you were the principal. Are approximately 13,000 members in over 1,000 markets in 30 countries around the world not worth your.. 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