I am often asked about my CCIM designation, why I decided to achieve the designation and what did it take; classes, commitments and requirements.
Let’s begin with the name. CCIM stands for Certified Commercial Investment Member. The CCIM designation, also known as the equivalent to a Masters degree in commercial / investment real estate analysis and marketing, is revered by property owners and investors alike. Many national companies will not even list or buy investment real estate without enlisting the help of a CCIM broker. Why? Because the core knowledge that one learns as a CCIM is the knowledge expected of commercial real estate professionals.
CCIM made its debut in 1969. According to the CCIM website, www.CCIM.com, over 225,000 professionals have take CCIM courses and of that, over 15,000 have earned the CCIM designation. Currently, over 9000 hold the designation in over 30 countries, including over 1000 cities in the United States.
An estimated 150,000 brokers work in the field of commercial real estate while only 6% hold the prestigious CCIM designation.
In order to begin the CCIM journey, the first thing you must do is ENROLL! Now you are known as a CCIM candidate and it is time to decide whether or not you plan to attend class or take or take one of their many on-line offerings. Both options have their pros and cons but nothing can take the place of the natural “face to face” networking that takes place in the class room environment. Keep in mind that becoming a CCIM is not limited to only commercial brokers. Everyone from lenders, attorneys, developers and even investors takes these classes and if you are studying at home, you will never meet them.
Of course, for those who need to work at their own pace due to personal and or professional constraint, the option is of course available but there are some restrictions. For example, you must complete the course within 90 days and you do forgo the opportunity to retest if you do not pass the class.
The current core curriculum consists of 5 classes though only 4 are required.
- CI-Intro begins by teaching the fundamentals of the commercial real estate industry and how to apply them using real life situations. Though this class is not mandatory, I feel that it is an important class if the candidate is new to the commercial real estate industry.
- CI-101 is Financial Analysis which focuses on the valuation of property with emphasis on the properties income.
- CI-102 is Market Analysis and focuses on using cutting edge technology to understand the current market and how to present investment options to clients.
- CI-103 is User Decision Analysis and jumps into the world of leasing.
- CI-104 is Investment Analysis. This pulls it all together so that the CCIM can assist their client in making sound investment decisions throughout the entire process including acquisition, ownership and finally disposition of the property.
After completion of the required courses and required electives, it is now time to submit your portfolio of qualifying transactions to the institute for grading.
If you have been able to reach this point, you are now in the home stretch. The final task to complete is the final exam which is offered by the CCIM institute twice per year. The final exam program consists of a two day crash study course followed by a heavily monitored, six hour exam. Exam rooms may have as many as 600 candidates testing which can be quite intimidating, but most do pass the final exam which is then followed by a large celebration and the occasional “high five”.
I couldn’t be more satisfied with the decision to become a CCIM designee. The education itself has played a major role in not just listing but selling more investment property. By utilizing the cash flow analysis formulas and tables, I have been able to give buyers the information they require to make an educated decision on whether or not to purchase and at what price.
Business continues to come our way through being contacted with buyers, sellers and lenders as well being part of CCIM’s extensive network of commercial practitioners. It really does feel great!
To learn more about becoming a CCIM, please visit www.CCIM.com for full details.
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