CRE – A Foreign Language
When I started in commercial real estate, 10 years ago, I had construction sales experience (sold concrete for 3 years) and residential real estate sales experience, and what I thought was a basic understanding of commercial real estate. How quickly that changed on my second day when I attended a meeting with Francis Rentz, CCIM. He and the client were speaking a language that was foreign to me (load factor, Cap Ex, Op Ex, TI’s, Cap Rate, IRR) I knew right then I needed some education. I decided that getting the CCIM Intro course would be a smart move, so I enrolled the very next week.
CCIM – The Relationships & Instructors
I completed the course work, my portfolio of qualifying experience, took the comprehensive exam and succeeded in getting the CCIM designation within two years. It was one of the best things I have ever done. Since that time the CCIM mantra (Come for the knowledge, stay for the business) has definitely rang true. I met, stayed in contact, and have done deals with my fellow students from those classes. One of the most valuable experiences during the process was the quality of the in class instructors. Each class is led by two or three instructors who are not only great teachers but also successful commercial real estate practitioners. The real world experience that they share in the class room was my favorite part of each course.
Getting the CCIM Designation
CCIM members close more than $200 billion in transactions annually. There are approximately 13,000 members in over 1,000 markets in 30 countries around the world. Of the more than 150,000 commercial real estate professionals in the United States, an estimated six percent hold the Certified Commercial Investment Member (CCIM) designation.
Known as the “ PhD of Commercial Real Estate” To earn the designation, one must meet the following requirements:
- Complete the designation curriculum, which includes the following courses: Financial Analysis for Commercial Investment Real Estate, Market Analysis for Commercial Real Estate, User Decision Analysis for Commercial Investment Real Estate, Investment Analysis for Commercial Investment Real Estate, Ethics Course, Negotiation Workshop
- Submit a portfolio of qualifying experience before taking the final comprehensive exam.
- Pass the Comprehensive Exam.
I continue to “stay for the business” through my involvement with CCIM, by having served as President and the current Vice President of the Florida Panhandle Chapter.
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About Preston Hall – Preston has completed 130 transactions in the past 6 years in commercial real estate using his client focused service. He specializes in office, retail, and multi-family properties in the Tallahassee, Florida area. Click here to read his full bio, or if you would like to contact him, you can call him at 850-877-6000 or email him at firstname.lastname@example.org.