All about CCIM’s Course Offering and Designation and What it Means for You.
How’s it going?
Today we are reviewing CCIM, and we are making a mother’s homemade pie attempt at deciding whether their courses are all that and a bag of chips. Before you supersize your credit card balance keep reading.
First off, my name is Paul. Around here they call me the real estate spy. I am also in real estate, but my real estate is a bit different.
I am a digital property manager. A what?
I used to have rental property and back in 2008-9 I got hammered… CHAPTER 13, BLAH BLAH BLAH….
I couldn’t get the real estate fever out of my system and starting over from nothing was like trying to get noticed by Beyonce.
After getting to Chapter 13 of my life’s course, I was feeling pretty depleted.
That was when I met a guy named James who showed me how to develop digital properties and collect like a moth collecting yo grammy’s sweaters.
Watch this 3 min. video. It explains everything and then jump to the review.
CCIM Review Background
CCIM Institute is a professional organization that credentials its members with designations that communicate education, knowledge, and experience to the global commercial real estate investment world. Mark Macek was CCIM President for 2015. Steven W. Moreira is the CCIM 2016 President.
The Institute’s tagline on the CCIM website is Commercial Real Estate’s Global Standard for Professional Achievement. A CCIM is an individual—a Certified Commercial Investment Member.
An individual that has achieved the CCIM designation is recognized as an expert in commercial investment real estate.
Those who earn CCIM designations include brokers, leasing professionals, investment counselors, asset managers, appraisers, corporate real estate executives, property managers, developers, institutional investors, commercial lenders, attorneys, bankers, and other professionals affiliated with the commercial real estate industry.
CCIM Exam and Designation Requirements
There are different types of CCIM memberships (Candidate, Fast Track, and University Fast Track), and each type has different requirements, although some requirements are common to all memberships. The common requirements include completing an educational component, passing the Comprehensive Exam, completing an application, and paying dues.
CCIM Designation Resources
CCIM resources are designed for commercial real estate investors seeking the globally-respected CCIM designation. A certified member has completed advanced coursework in financial and market analysis and has accumulated extensive experience in the real estate industry.
CCIM Resources are also available to individuals who just want to take the classes/webinars/workshops but aren’t seeking the CCIM designation. There are two avenues for this.
The first avenue is to become a CCIM Associate, at a tab of $1,295 per year. This membership grants access to an online service for site analysis, mapping, and customized business solutions; a 50% discount for the Introduction to Commercial Investment Real Estate Analysis training; a member tuition rate for Preparing to Negotiate training (online); access to the CIRE magazine, and conference discounts.
The second avenue is called the Academic Membership, and it’s specifically for students and faculty members. (Faculty must be affiliated with AACSB-accredited or CCIM University Alliance colleges and universities.)
Student memberships ($50) grant students access to CCIM courses and include benefits such as discounts to conferences and a 50% discount for the Foundations for Success in Commercial Real Estate course. This is a two-day classroom course (at this writing offered in various locations in the United States and Canada) or a five-session online course that equips participants to:
· Access and use demographic information
· Differentiate between the needs of owners and tenants
· Develop a personal marketing plan
· Develop a property marketing plan
· Utilize basic financial analysis tools
· Solve investment problems using a financial calculator
· Perform mortgage calculations using compounding and discounting techniques
· Project income and expenses for a real estate property
· Calculate yield on potential investments
Faculty memberships cost $150 and include conference and other discounts.
What’s it cost to get CCIM?
CCIM educational resources are divided into two distinct categories: 1) the Designation Curriculum, and 2) elective courses offered through CCIM’s Ward Center for Real Estate Studies.
The Designation Curriculum comprises core courses that are basic requirements for earning the CCIM Designation. These courses include:
· Financial Analysis for Commercial Investment Real Estate (Member: $1,145; Non-member: $1,650)
· Market Analysis for Commercial Investment Real Estate ($1,365/$1,650)
· Negotiations Training (8 hours of training which is completed in a variety of course options, either online or onsite)
· User Decision Analysis for Commercial Investment Real Estate ($1,356/$1,650)
· Investment Analysis for Commercial Investment Real Estate ($1,365/$1,650)
· Online Ethics Course (free)
· Course Concepts Review (Member: $750)
CCIM course instructors are established real estate professionals and equip participants with a core of knowledge that’s applicable to all specializations across the commercial real estate industry.
The Ward Center for Real Estate Studies comprises specialty programs and almost 40 individual courses covering such topics as negotiation; before- and after-tax discounted cash flow analysis; cross border demand and investing; crowdfunding in commercial real estate; fundamentals of real estate auctions; loan amortization in commercial real estate; splitting profits in commercial real estate; urban planning; and user cost of occupancy analysis.
Cost of the courses varies. Member cost for individual courses typically ranges from $105 to $165 per course; non-member cost is typically $125 to $190. Some courses are higher.
Most of the courses are available online through the CCIM eCampus, accessible from its website at ccim.com.
CCIM hosts regular conferences and CCIM events, such as the Thrive Commercial Real Estate Conference Oct. 24-28, 2016 (see promo on CCIM YouTube).
CCIM chapters exist around the world, including Florida, Hawaii, Kentucky, Ohio, Wisconsin, Korea, Argentina, Saudi Arabia, Poland, and France. There is a CCIM Greater Los Angeles Chapter, Houston Chapter, and Boston Chapter, among many others. A full listing can be found through the CCIM website.
CCIM has an active social media presence on Twitter, Facebook, LinkedIn, and YouTube.
Is the CCIM designation worth it?
The independent reviews on CCIM courses and materials and whether or not the designation cost is worth it are mixed. REIClub.com and BiggerPockets.com both have threads on the subject. Here are a few of the comments. . .
If you are looking to get some credibility as a commercial broker, it may help. Otherwise I would say it’s not worth it. I’ve taken some of the classes, but most of it I learned on my own prior to taking the courses. –Jason D, Commercial Real Estate Broker, Georgia
The intro classes are good to take to gain some knowledge for your own personal investing, even if you don’t wish to pursue CCIM designation. You can also just buy the books and self-study if you want to get a grasp of the material. –Robert M, Real Estate Investor, New Jersey
I have started the CCIM program, and feel it is absolutely worth it. The education . . . experience . . . and respect that go with the designation are worth the price tag. –Joshua D., Indiana
I am new to Bigger Pockets. I have successfully completed intro and all core courses. It’s absolutely worth every penny. –Dewayne M., Commercial Real Estate Agent, Texas
OK, that’s what I have for you today on CCIM.
Hope you found the material helpful! And hey, if you didn’t watch the three-minute video just before the review, please go back and watch it! It contains information that could be very helpful for you and could literally change your life.
And don’t forget to visit my other reviews.