Thoughts On Earning CCIM Designation?

9 Replies

If you have a CCIM designation, what was your experience like earning it? How much time did it occupy you in your life? 

Has this benefited your real estate investing career? Basically asking if it's worth the money :) 

Thanks!

@Justin

Way back when I took CCIM courses 101 thru 104 but never finished as I was recently married and had a child on the way so I did not want to give the lucrative residential business I had built up to move into commercial. 

The CCIM is a very significant and meaningful designation. I think it will add to your knowledge base and increase credibility. The course work is rigorous and I believe each course takes a full week 8 hour days. 

For someone like you who will be doing commercial real estate for a long long time, I would say Go for It!

Arn


@Justin G. It depends on what your goals for your investment career or real estate career are. If you are, or intend to be, a full-time commercial broker and wanting to move up in deal size and volume, it's a great designation to pursue. I was a broker for over a decade before I looked into it, and I should've done so sooner. As @Arn Cenedella suggested, the initial courses are in depth and can be daunting for someone who hasn't studied a college level math or economics course in a while, but in person instruction is helpful if you can get to a class somewhere nearby you. The time commitment is a real consideration too, and I would recommend setting a 2-year or less goal to getting it all done, because it will help to have it more fresh than not for the final exam. There are portfolio requirements as well that are necessary to qualify, so look over those to make sure your actual volume of work is in progress simultaneous to your studies.

In summary it's worth the pursuit if you want to enhance your abilities to broker larger and better analyze deals. Hope this helps.

@Gabriel Graumann , from a contrarian perspective, why would someone not want to get this CCIM? They prefer residential? They don't want to commit the time or money? Don't see the ROI as great enough? Don't want to be a student again? Thanks in advance.

I considered this as well several months back.  A good friend of mine (and old co-worker) got his CCIM awhile before becoming a prominent broker.  We discussed the pros/cons and alternatives in my situation as an aspiring syndicator at the time. 

For me it was a tradeoff of time and $$$ between CCIM coursework vs. investing in a coaching program/mentorship.  In terms of priorities for me for 2021, I chose the mentor/coach route and haven't looked back.  If/when in the future I decide to pursue brokerage, no doubt I'd invest in the CCIM. 

@Bryan Mitchell For all the reasons you mentioned. DON’T get the CCIM if: you only focus on flips and fixers, single-family rentals, just use real estate as your “side hustle”, or you think the designation will lead referrals and deals just falling in your lap since it’s tagged on your email signature. The course material is geared for 5+ unit MF, commercial buy/hold/sell analysis, market analytics and evaluation for leasing, and a little about raw land strategy. If you’re not actively working in this space, there wouldn’t be a big benefit to the material compared to other material you could find specific to what you are trying to accomplish in residential investing. It would be like getting an MBA with the intention of being an restaurant owner. Sure, you’ll learn high level strategies for selecting the right location for a restaurant, but nothing about running the business itself, so why do it.

Has this benefited your real estate investing career? Basically asking if it's worth the money :)

Took a class and, no, not worth $10K.  Was an engineer, so the math wasn't hard to understand in CRE.  

If you don't get math, don't think a CCIM is going to make you any better that actual work experience with someone that knows.

It's kinda like all these certs people are pushing.  Not saying anyone in particular, but you can make a build fully-LEED platinum compliant (since the specs are easy to get), however, to get that sticker on your front door may be a $100K audit.

@Andrew Schutsky Thanks for sharing. I can see how investing more in coaching and taking action will benefit us more. Seems like we both want to own thousands of doors. Not sure if the CCIM will help me get there quicker when it will take up a huge amount of time to earn.