An additional benefit of obtaining the CCIM designation is gaining respect from your peers and other commercial real estate agents. 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. I’m sure, that taking CCIM courses is a great investment to the knowledge. You will need to provide settlement statements, affidavits, and proof of employment (listing agreements are acceptable) to show evidence of your “qualifying activities” involving commercial real estate. Helen has received over $50 million in just referral business alone, which she attributes to her CCIM designation. 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. The designation is awarded by CCIM Institute. Of course, the education that you get from taking the CCIM courses can also be very valuable. 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. Lastly, you must pass the Comprehensive Exam to prove you have the knowledge required to hold the CCIM designation. There are three main parts to obtaining a CCIM designation. The CCIM Institute is a highly regarded commercial real estate and investment property organization based in the United States. 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. 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. The Certified Commercial Investment Member designation is right for experienced leasing managers, brokers, agents, asset managers, appraisers, corporate investors, and investors. 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. You can withdraw your consent at any time. Eight hours of negotiations training is required before you can continue to CI 103 and CI 104. 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. I am highly considering this designation. Commercial real estate professionals will certainly benefit from a CCIM designation. No, you don’t need to calculate the IRR on a single family house (not that it would do much good). 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). Even though the educational costs are steep, Helen says it was well worth it for her. However, we do work with a select group of software companies and service providers that we feel provide real value for our readers. The Certified Commercial Investment Member (CCIM) designation is a professional credential recognizing experts in commercial real estate investment. Thinking of the CAIA® Charter: Is CAIA Worth It? This is especially true for brokers and lenders. The one exception is if, like us, you buy small properties in bulk, particularly by purchasing portfolios. A CCIM is definitely worth it to me. The disadvantages of getting your CCIM boil down to two simple things: time and money. Finally, there is an annual fee of around $600 to maintain your membership. I agree with many of the comments that it is driven by what you want to do. Two elective credits are required prior to taking the Comprehensive Exam. 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. Use at least 8 characters. Get FREE Actionable Real Estate Strategy Sent Straight To Your Inbox. If you are in commercial real estate NAR has the CCIM designation for those agents. The education is what got me started, but I have decided to get the full designation. Your membership type will determine how many education requirements you’ll need to fulfill. However, if you fail the first time, you will have up to four chances to retake the exam. 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. Membership to the CCIM Institute is required to submit your CCIM portfolio and application. Oh well…. In this course, you will learn to evaluate the entire life cycle of an investment, from refinancing to capital improvements to disposition. I have started the CCIM program, and feel it is absolutely worth it. This requirement can be completed either through the online Preparing to Negotiate course or the one-day classroom course Commercial Real Estate Negotiations. A grade of 70% or better is required to pass. 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. The table below is a list of costs assuming you are taking the traditional route of obtaining your CCIM without having a degree in real estate or prior certifications. CCIM is an abbreviation that may refer to: . The knowledge gained is well worth the cost in time, effort and money. At a few points in my career, I was an active broker, primarily in office and retail leasing. 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. 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. Hopefully, this article will help clarify that choice. 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. It requires no additional designations or advanced degrees. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember. Do you have advice about getting your CCIM? Earning the CCIM Designation Education Component. You will also learn how to perform geospatial analyses and forecast future demand. CCIM designees deal primarily with commercial real estate. Create an account today to get BiggerPocket's best blog articles delivered to your inbox. 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 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. There are approximately 13,000 members in over 1,000 markets in 30 countries around the world. The network of professionals is amazing, and it is a clear way to differentiate yourself among your non-CCIM peers. Regardless of if you invest in small or large properties it is better to have well established and generally accepted methods of analysis. Simply put: No. 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. Now that you’ve heard from Helen, let’s take a look at the process of getting a CCIM to see if it’s really right for you. 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. 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. 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. Looking to jump from residential to commercial investing? https://16strategies.com/, Your email address will not be published. “I love my college, but CCIM has done more for me than my college degree in journalism,” says Maret, a former Tampa Tribune reporter. 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. To explain how scaling is possible, I’m going to talk a little about how I did it personally. The Value of CCIM Designation. More importantly, CCIM Candidate members also receive discounts on the CCIM courses. And of course, the series of classes required to acquire your CCIM offer a lot of other helpful education as well. 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. 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. See the CCIM Foundation for more details. 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. 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. CCIMs also include a variety of different professions involving real estate such as commercial brokers, lenders, and investors. That said, the costs of the CCIM designation can vary based on your prior experience and your current designations. 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. In general, I mean taking your business to the next level. 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. Related: 6 Upgrades That Add Top Value to Your Commercial Investment Property. 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. These investors are generally more sophisticated and thereby often more skeptical. 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.”. 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. Certified Commercial Investment Member (CCIM) - Salary - Get a free salary comparison based on job title, skills, experience and education. 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 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. 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 after repair value (ARV) and estimated cash flow should be sufficient. If you continue to use this site we will assume that you are happy with it. However each designation teaches a different side of the same coin. Once you have completed your educational requirement, you will put together your commercial real estate portfolio to meet the CCIM experience requirements. Andrew, thank you for writing the post. 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.”. 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. 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. 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? 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. Furthermore, having a CCIM puts you in a sort of club. It requires a more lengthy commitment than some of the other designations. Jam packed with 61 proven real state lead generation ideas for this year. When doing such deals, you are usually raising funds from accredited investors. I'm also looking into taking it. People with the CCIM designation, from a financial aspect, is it worth it? 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. The independent reviews on CCIM courses and materials and whether or not the designation cost is worth it are mixed. I touched on what such a designation offers here, but it certainly isn’t for everyone. 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.”. CCIM’s are recognized as being experts in the commercial and investment real estate industry. So I’m going to my first 4-day course in Florida next week! I am a designee and been involved for quite some time. Candidate Membership – This membership type is appropriate for most commercial real estate practitioners who are pursuing the CCIM designation. 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. There are a bunch of ways to add value to your multifamily deal, but investments like this can be costly. I decided 6 months ago I would begin my steps towards commercial real estate and have been educating myself and networking. The experts who possess the CCIM designation can serve as a resource for commercial real estate owners, investors and others. Institute candidate membership is $650 a year which provides you with members-only tuition discounts. Required fields are marked *. Am I just talking to myself here? Very few of them do much in the residential and small multifamily space. In the face of economic uncertainty, investors are looking toward the long-term prospects of second-tier markets, also known as 18-hour cities. Start analyzing real estate properties, we do the math for you. 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.”. You can also take these classes online as I did. You must then also complete a short ethics course and negotiation course and finally take the comprehensive exam. That means the cost of the CCIM is more comparable to a year in college than a traditional real estate designation. 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 Learn what differentiates the two and where you can find some of the best deals. Happy to answer any questions regarding CCIM. Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood. Connect with 1,000,000+ real estate investors! You can attend your local CCIM meetings without the designation, but having one makes you more of a “go-to” figure in your community. We have a lot of people from different trades get a CCIM, including CPAs, attorneys, corporate asset management, investors, appraisers, and so on.”. Discover the potential of these markets here. REIClub.com and BiggerPockets.com both have threads on the subject. CCIM members close more than $200 billion in transactions annually. 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. 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. Any insight would be greatly appreciated! You will learn the Code and Standards of Practice of the CCIM Institute and complete and pass the online lesson quizzes and final exam. A CCIM costs over $10,000 in 2021. I will explain all this in detail later. The CCIM negotiation class is, in my opinion, the best there is. (A brief rundown of the internal rate of return and net present value can be found here if you’re interested.). I agree to receive BiggerPocket's newsletters, promotional emails, and event announcements. 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. On the other hand, if you are either in or aiming to get into the commercial space, a CCIM should certainly merit your interest. 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. Related: 4 Ways Technology is Shaking Up Commercial Real Estate (& Why Multifamily Will Pull Ahead). Some consider the CCIM designation to be roughly equivalent to an “MD” of commercial real estate. Education is never a waste IMO, in addition it seems to open up some great networking opportunities. The CCIM Institute – Certified Commercial Investment Member Institute – celebrates five decades as a professional organization this year. The process of achieving the designation is a combination … I had the volume requirement done before I became a candidate. If you focus predominately on smaller properties, a CCIM is probably not worth your time. CCIMs also include a variety of different professions involving real estate such as commercial brokers, lenders, and investors. I remember it being quite the pain. I am currently working on the residential side and am getting more and more into commercial. You sold me, I am looking into it now. Today Sean teaches Salespeople to sell to their strengths through his consulting company 16 Strategies. This is because some of the course requirements are waived based on your previous knowledge and experience. Helen also says that many are unaware of scholarships that are available to help offset the costs. PasswordUse at least 8 characters. 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. 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. Find local real estate meetups and events in your area. Most of the classes are available online and allow you to download the sessions so that you can review them as often as you like. I have already signed up as a designee and have taken multiple classes. This includes apartments, offices, retail, hospitality, and industrial. By applying decision-making analyses to optimize investment returns, you will be able to effectively forecast investment performance by quantifying risk and leverage. Period. Even prior to obtaining your CCIM designation, you may choose to become a CCIM Institute Candidate member. I have just recently heard of the CCIM designation. I am checking it out now as well. Designation Curriculum. Once you’ve taken the CCIM courses and submitted your previous experience documents, you will sit for the Comprehensive CCIM Exam, which is typically held twice a year in the U.S. “My pathway to receiving my pin cost well over $20,000,” says Maret, who became a CCIM in 2011. 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. The Close has a policy of fierce editorial independence. Definitely worth it. We use cookies to ensure that we give you the best experience on our website. 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. But when it comes to larger apartment or other commercial deals, I would highly recommend looking past simply calculating the cap rate. The total cost of the CCIM designation program depends on whether you are a member and how long you take to complete the program. The people that I networked with are the real deal, to include Real Estate Investment Trusts. 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. That question is unfortunately one I can’t answer for you. We just need a few details to get you set up and ready to go! 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