{"id":104906,"date":"2018-12-31T14:30:16","date_gmt":"2018-12-31T21:30:16","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=104906"},"modified":"2023-09-08T00:55:33","modified_gmt":"2023-09-08T06:55:33","slug":"is-it-worth-getting-your-ccim","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/is-it-worth-getting-your-ccim","title":{"rendered":"Is it Worth Getting Your CCIM (Certified Commercial Investment Member) Designation?"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC4766914818\" width=\"100%\"><\/iframe>\r\n  \n\n\n\n<p><span style=\"font-weight: 400;\">There has been a lot of discussion on BiggerPockets about <\/span><a href=\"https:\/\/www.biggerpockets.com\/blog\/dont-get-real-estate-license\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">whether it&#8217;s worth getting your broker&#8217;s license<\/span><\/a><span style=\"font-weight: 400;\">. Still, the question of whether to get your CCIM (Certified Commercial Investment Member) has been left mostly unanswered. I touched on what such a designation offers <\/span><a href=\"https:\/\/www.biggerpockets.com\/blog\/introduction-ccim\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">, but it certainly isn&#8217;t for everyone.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What is a CCIM Designation?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A CCIM designation recognizes an individual is an expert in commercial real estate investing. Awarded by the CCIM Institute, formerly known as the Commercial Investment Real Estate Institute of the National Association of Realtors, the designation is recognized globally. The CCIM Institute educates CRE professionals.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That is why most people with a CCIM designation are commercial real estate professionals locally and internationally. There are more than 50 CCIM chapters in local markets worldwide.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Industry leaders teach courses. Requirements vary according to the chosen membership level, which consists of the following:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Candidate membership:<\/b><span style=\"font-weight: 400;\"> This level does not require advanced degrees or additional designations. It is the appropriate level for the majority of those working in commercial real estate.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Fast track:<\/b><span style=\"font-weight: 400;\"> If you hold other commercial real estate designations, this may prove the right level. Such designations mean you are exempt from some CCIM Institute requirements due to your qualifying experience.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>University fast track:<\/b><span style=\"font-weight: 400;\"> Available to undergraduate and graduate students from allied universities, this level also exempts members from certain CCIM Institute requirements.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Academic:<\/b><span style=\"font-weight: 400;\"> This level does not confer CCIM designation but does provide access to some CCIM tools.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">What Type of Investor Should Consider a CCIM?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">CCIM designees deal primarily with <\/span><a href=\"https:\/\/www.biggerpockets.com\/renewsblog\/category\/commercial-real-estate\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">commercial real estate<\/span><\/a><span style=\"font-weight: 400;\">, which includes apartments, offices, retail, hospitality, and industrial. Very few of them do much in the residential and small multifamily spaces. CCIMs include various real estate professionals, such as commercial brokers, lenders, and investors. A CCIM is probably not worth your time if you focus predominately on smaller properties. The one exception is if, like us, you buy small properties in bulk, particularly by purchasing portfolios. On the other hand, if you are either in or aiming to get into the commercial space, a CCIM should certainly merit your interest.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is especially true for brokers and lenders. A CCIM denotes a substantial amount of credibility in those industries. Since brokers and lenders want to build credibility with potential clients, a CCIM can be very beneficial.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Others who can benefit from CCIM designation include leasing professionals and property managers.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Advantages of a CCIM<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">For commercial real estate professionals, a CCIM designation holds numerous advantages with little downside.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">A CCIM designation bestows credibility<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In my judgment, the biggest advantage to having your CCIM is the credibility that comes along with it. As mentioned above, it is probably the most beneficial to commercial brokers and lenders, but it can also be an advantage to investors. This is especially true if you are <\/span><a href=\"https:\/\/www.biggerpockets.com\/blog\/biggerpockets-money-podcast-219-j-scott\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">looking to do syndications<\/span><\/a><span style=\"font-weight: 400;\"> where you <\/span><a href=\"https:\/\/www.biggerpockets.com\/blog\/find-private-money-lenders\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">raise private money<\/span><\/a><span style=\"font-weight: 400;\"> for the down payment and then split the equity amongst your various investors. When doing such deals, you are usually raising funds from accredited investors. These investors are generally more sophisticated and, thereby, often more skeptical. Being a certified commercial investment member can help you establish your credibility as a seasoned, experienced, and trustworthy syndicator with such investors.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">A valuable education component<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Of course, the education you get from CCIM course concepts can also be very valuable. You take courses in investment analysis, financial analysis, market analysis, and negotiations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The real estate calculator they provide is quite powerful and allows you to quickly and efficiently calculate a potential investment&#8217;s net present value and <\/span><a href=\"https:\/\/www.biggerpockets.com\/blog\/internal-rate-return-irr\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">internal rate of return (IRR)<\/span><\/a><span style=\"font-weight: 400;\">, which are helpful metrics for larger and more complicated deals. No, you don&#8217;t need to calculate the IRR on a single-family house (not that it would do much good). The <\/span><a href=\"https:\/\/www.biggerpockets.com\/blog\/estimate-arv\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">after-repair value (ARV)<\/span><\/a><span style=\"font-weight: 400;\"> and estimated cash flow should be sufficient. But when it comes to larger apartment or other commercial deals, I would highly recommend looking past only calculating the cap rate. (You can find a brief rundown of the internal rate of return and net present value <\/span><a href=\"https:\/\/www.biggerpockets.com\/blog\/real-estate-metrics\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And, of course, the series of classes required to acquire your CCIM designation provides helpful education. You will receive training in financial analysis, market analysis, and other invaluable courses designed for the commercial real estate professional.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">A great networking tool<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Furthermore, having a CCIM puts you in a sort of club. You are now a certified commercial investment member. You can attend your local CCIM meetings without the designation, but having one makes you more of a &#8220;go-to&#8221; figure in your community. I&#8217;ve heard other CCIM designees note that when they enter a new market, they will often look up the CCIM Institute members around to contact first about it. This can be a great networking tool and help you get new clients or deal opportunities in the commercial real estate industry.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Membership benefits<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Finally, having your CCIM offers a variety of <\/span><a href=\"https:\/\/www.ccim.com\/membership\/benefits\/?gmSsoPc=1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">membership benefits<\/span><\/a><span style=\"font-weight: 400;\">, such as access to their Site to Do Business for Real Estate Investors, which has tools such as <\/span><a href=\"https:\/\/www.biggerpockets.com\/renewsblog\/an-introductory-guide-to-esri\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">ArcGIS Online<\/span><\/a><span style=\"font-weight: 400;\"> and other programs, as well as tuition discounts for additional classes and the like.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Disadvantages of a CCIM<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The disadvantages of getting your CCIM designation boil down to two simple things: time and money.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Costly tuition<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">To get your CCIM designation, you must complete four classes, each four days long and costing $1,735 as of this writing ($1,435 for members). You have the option of taking an online course, as I did. You must also complete short online ethics and negotiation training courses and take the comprehensive exam. All of this, of course, costs additional money. As of this writing, the classes and application fees <\/span><a href=\"https:\/\/www.ccim.com\/designation\/time-cost\/?gmSsoPc=1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">add up to<\/span><\/a><span style=\"font-weight: 400;\"> either $9,519 (non-members) or $7,930 (members).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, an annual fee of around $695 is needed to maintain your CCIM membership.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Commercial real estate portfolio<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In addition, you must also provide a portfolio of commercial real estate experience, which can be <\/span><a href=\"https:\/\/www.ccim.com\/earning-the-ccim-designation\/?gmSsoPc=1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">one of the following:<\/span><\/a><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Three (3) or more qualifying activities totaling $30 million or more; or<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Exactly ten (10) qualifying activities totaling $10 million or more; or<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Twenty (20) qualifying activities with no dollar volume requirement.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This commercial real estate portfolio can take some time to put together. I remember it being quite the pain. When that time is added to the online or classroom courses, you must commit substantially to get your CCIM designation.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Should You Get Your CCIM Designation?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">That question is, unfortunately, one I can&#8217;t answer for you. A CCIM designation does require a substantial amount of money and time. Still, for many investors, that cost is worth it in the education component, networking opportunities, and credibility you will gain. Hopefully, this article will help clarify that choice.<\/span><\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>CCIM designees deal primarily with commercial real estate. This designation may benefit some investors, it&#8217;s not for everyone.<\/p>\n","protected":false},"author":1689,"featured_media":153964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5527,7119],"tags":[1222,3507,4474,1136,3282,1930,2378],"class_list":["post-104906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-investing","category-biggerpockets-daily","tag-ccim","tag-commercial-broker","tag-commercial-lender","tag-commercial-real-estate","tag-internal-rate-of-return","tag-net-present-value","tag-syndications"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/104906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/1689"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=104906"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/104906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/153964"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=104906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=104906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=104906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}