The process of achieving the designation is a combination … You can attend your local CCIM meetings without the designation, but having one makes you more of a “go-to” figure in your community. Andrew, thank you for writing the post. 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. These can be earned by completing non-designation courses. Use at least 8 characters. My bread and butter deals are typically user-sales and leasing. 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. CCIM designees deal primarily with commercial real estate. If you are in commercial real estate NAR has the CCIM designation for those agents. Get FREE Actionable Real Estate Strategy Sent Straight To Your Inbox. Find local real estate meetups and events in your area. The exam is normally a full day, but if you feel you need more preparation, it’s preceded by the two-day Course Concepts Review, allowing you the opportunity to review the topics that will be covered on the exam. 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. Do you have advice about getting your CCIM? A Certified Commercial Investment Member (CCIM) is a recognized expert in the disciplines of commercial and investment real estate. Related: 4 Ways Technology is Shaking Up Commercial Real Estate (& Why Multifamily Will Pull Ahead). The Certified Commercial Investment Member designation is right for experienced leasing managers, brokers, agents, asset managers, appraisers, corporate investors, and investors. 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. If you signed up for BiggerPockets via Facebook, you can log in with just one click! However, if you fail the first time, you will have up to four chances to retake the exam. Certified Commercial Investment Member (CCIM) - Salary - Get a free salary comparison based on job title, skills, experience and education. 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. CCIMs also include a variety of different professions involving real estate such as commercial brokers, lenders, and investors. That said, getting your real estate license could give you a leg up since you’ll be more familiar with the homebuying and selling process. 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. Please let us know in the comments, or if you’re an active agent, join our Facebook Mastermind Group here. A spokesperson for the CCIM Institute says that more than 15,000 commercial real estate professionals have earned the designation to date and 5,500 professionals are pursuing their CCIM designation. “My pathway to receiving my pin cost well over $20,000,” says Maret, who became a CCIM in 2011. There are many commercial clients that will only work with CCIM certified agents. https://16strategies.com/, Your email address will not be published. We just need a few details to get you set up and ready to go! CCIM graduates proudly represent their achievement by wearing a CCIM pin, often referred to as “The Pin.” Therefore, to be “Pinned” means that you have met all the requirements of the CCIM designation. Thinking of the CAIA® Charter: Is CAIA Worth It? The CCIM experience qualifications are subject to the number of transactions and total dollar volume. We have a lot of people from different trades get a CCIM, including CPAs, attorneys, corporate asset management, investors, appraisers, and so on.”. CCIM is better for income recapture, and demographics and how they relate to value. I am checking it out now as well. It requires a more lengthy commitment than some of the other designations. Qualifying activities are those that have taken place within five years of the portfolio’s submission date and in which you had substantial participation. Graduates will attend the “Pinning Ceremony” that evening. Membership to the CCIM Institute is required to submit your CCIM portfolio and application. Finally, there is an annual fee of around $600 to maintain your membership. This is especially true for brokers and lenders. See the CCIM Foundation for more details. I'm also looking into taking it. In this course, you will learn to evaluate the entire life cycle of an investment, from refinancing to capital improvements to disposition. I’m sure, that taking CCIM courses is a great investment to the knowledge. Traditionally, CCIM classes are held classroom-style throughout the country, but due to COVID-19, many of these classes are now available online. Get 61 Proven real estate lead generation ideas for this year. 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. Hi Andrew! 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. The Value of CCIM Designation. There are three main parts to obtaining a CCIM designation. This includes apartments, offices, retail, hospitality, and industrial. When doing such deals, you are usually raising funds from accredited investors. And of course, the series of classes required to acquire your CCIM offer a lot of other helpful education as well. 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. We use cookies to ensure that we give you the best experience on our website. We have affiliate partnerships with these companies and make money when we feature their products on the site. 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. You can also take these classes online as I did. If you read about a product or service on this website, it's because we genuinely think it's great. 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. Very few of them do much in the residential and small multifamily space. However, I would say that there is diverse group of occupations that have obtained the CCIM designation. There are approximately 13,000 members in over 1,000 markets in 30 countries around the world. Subscribe today and get the Oct/Nov issue delivered to your door! 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. The people that I networked with are the real deal, to include Real Estate Investment Trusts. 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. Earning the CCIM Designation Education Component. I am currently working on the residential side and am getting more and more into commercial. Looking to jump from residential to commercial investing? I have just recently heard of the CCIM designation. A CCIM is definitely worth it to me. Any degree or certification is worth what the individual will get out of it. The total cost of the CCIM designation program depends on whether you are a member and how long you take to complete the program. If a designation advertises itself as being the equivalent of a master’s degree, the designation is probably fairly meaningless and has to resort to extreme exaggeration to prove its worth. CCIM designees deal primarily with commercial real estate. Is the CCIM designation worth it? 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. Your email address will not be published. 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. The one exception is if, like us, you buy small properties in bulk, particularly by purchasing portfolios. Let’s talk about scaling in real estate, whether that means moving from no properties to single family or single family to commercial. Jam packed with 61 proven real state lead generation ideas for this year. A grade of 70% or better is required to pass. The CCIM Institute states that “students typically complete the program in 1-3 years, we’ve had members complete it anywhere from six months to 10 years.”. Any insight would be greatly appreciated! Why or why not? However each designation teaches a different side of the same coin. I am highly considering this designation. Oh well…. (A brief rundown of the internal rate of return and net present value can be found here if you’re interested.). The education is what got me started, but I have decided to get the full designation. You will learn the Code and Standards of Practice of the CCIM Institute and complete and pass the online lesson quizzes and final exam. This is especially true if you are looking to do syndications where you raise private money for the down payment and then split the equity amongst your various investors. The Close has a policy of fierce editorial independence. 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. Upon completion you will have a core knowledge base relevant across the entire commercial real estate industry, regardless of specialization. “I love my college, but CCIM has done more for me than my college degree in journalism,” says Maret, a former Tampa Tribune reporter. 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. When that time is added to either the online or classroom courses, you will have to make a substantial time commitment in order to get your CCIM. 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. The CCIM Institute is a highly regarded commercial real estate and investment property organization based in the United States. Of course, the education that you get from taking the CCIM courses can also be very valuable. CCIM’s are recognized as being experts in the commercial and investment real estate industry. Yes, scholarships are awarded through CCIM chapters and other scholarship sponsors. CCIM members close more than $200 billion in transactions annually. This can be a great networking tool and help you get new clients or deal opportunities. Since the CCIM courses are self-paced, how quickly you get your CCIM is dependent on your personal time commitment. CCIM is an abbreviation that may refer to: . Your membership type will determine how many education requirements you’ll need to fulfill. taking the exam tomorrow! All qualifying activities must be substantiated with documentation in your portfolio and then submitted to the CCIM Institute, which will be reviewed by a panel called “Graders.”. But Maret and other CCIM advocates say the cost — and the time spent — is worth it. I was not really planning on getting a CCIM, but I think you make some good points about it lending credibility, and it’s usefulness if syndicating and networking. 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. The designation is awarded by CCIM Institute. Candidate Membership – This membership type is appropriate for most commercial real estate practitioners who are pursuing the CCIM designation. I'm a firm believer of education, and this sounds like a well respected one. I am finishing my 104 class today! To explain how scaling is possible, I’m going to talk a little about how I did it personally. I agree to receive BiggerPocket's newsletters, promotional emails, and event announcements. Members of the institute will learn essential tools, tips, and strategies to effectively enhance their work. Sean Moudry has been featured in REALTOR Magazine 30 Under 30, recognized as a Top Producing Real Estate Agent for over 15 Years. At a few points in my career, I was an active broker, primarily in office and retail leasing. 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. 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. 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 This is because some of the course requirements are waived based on your previous knowledge and experience. You should be able to use your prior experience towards your need. However, I perceive that the value in the designation lie primarily in the area of purchase and sale of real property and in the education received while working towards the designation. 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. Simply put: No. Once you have completed your educational requirement, you will put together your commercial real estate portfolio to meet the CCIM experience requirements. Hopefully, this article will help clarify that choice. CCIMs also include a variety of different professions involving real estate such as commercial brokers, lenders, and investors. 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. Two elective credits are required prior to taking the Comprehensive Exam. The experts who possess the CCIM designation can serve as a resource for commercial real estate owners, investors and others. I'm currently in brokerage (4 years) and trying to get into an acquisitions role with an owner/developer. I agree with many of the comments that it is driven by what you want to do. I have already signed up as a designee and have taken multiple classes. There are a bunch of ways to add value to your multifamily deal, but investments like this can be costly. The one exception is if, like us, you buy small properties in bulk, particularly by purchasing portfolios. All of this, of course, cost additional money. So I’m going to my first 4-day course in Florida next week! But when it comes to larger apartment or other commercial deals, I would highly recommend looking past simply calculating the cap rate. 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. Do you new clients care or even know what it is, or is it like any other real estate designation. 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. Essential reading for new and experienced Realtors, this list comes from coaches like Tom Ferry, Kevin Ward, and top producing agents from around the country. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember. No, you don’t need to calculate the IRR on a single family house (not that it would do much good). The CCIM designation is reserved for only those with the financial, analytical, and ethical education to do commercial real estate, but they must also have a proven track record of working on successfully closed commercial real estate transactions. Happy to answer any questions regarding CCIM. 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. Institute Members, also called candidates, are pursuing the CCIM designation through one of the three types of membership below. The CCIM negotiation class is, in my opinion, the best there is. We do not accept money, services, or products in exchange for positive reviews or product placement. Frankly, I believe that they want it that way. “CCIM” refers to a professional designation offered by the CCIM Institute. 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. Create an account today to get BiggerPocket's best blog articles delivered to your inbox. I have started the CCIM program, and feel it is absolutely worth it. 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! CCIM stands for Certified Commercial Investment Member. 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.”. People with the CCIM designation, from a financial aspect, is it worth it? 8 Real Estate Designations That Will Actually Make You Money, Three or more qualifying activities totaling $30 million or more, Ten qualifying activities totaling $10 million or more, Twenty qualifying activities without regard to total dollar volume, Commercial real estate exchange/acquisitions/sales, Commercial investment real estate leasing, Commercial mortgage financing of commercial real estate. In my judgement, the biggest advantage to having your CCIM is the credibility that comes along with it. By applying decision-making analyses to optimize investment returns, you will be able to effectively forecast investment performance by quantifying risk and leverage. 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. 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. Start analyzing real estate properties, we do the math for you. In the face of economic uncertainty, investors are looking toward the long-term prospects of second-tier markets, also known as 18-hour cities. By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions. Required fields are marked *. Am I just talking to myself here? Having a CCIM can help you establish your credibility as a seasoned, experienced, and trustworthy syndicator with such investors. 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. Learn what differentiates the two and where you can find some of the best deals. This requirement can be completed either through the online Preparing to Negotiate course or the one-day classroom course Commercial Real Estate Negotiations. > Is the ABR® Designation Worth the Time and Money? Before we dig into whether or not I think getting a CCIM is worth it, here’s a quick interview I did with Helen Chong, a former residential agent who is now the President of the Northern California Chapter of CCIM. 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