CCIM Designation Promotes Success (OPINION)

I thought an appropriate column for the commercial real estate issue of the Business Journal would be to familiarize the readership with a very important aspect in the commercial real estate world.

The commercial real estate designation known as CCIM, or Certified Commercial Investment Member, has been in existence since 1954. About 15,000 people hold this designation worldwide. In fact, there are only 89 listed in the state of Arkansas.

In Northwest Arkansas, there are 31 CCIMs per the NWA Chapter rolls. Several of those currently are employed at Wal-Mart Stores Inc. in the real estate division.

The Northwest Arkansas Chapter was founded in 2008, and has been thriving ever since. A lot of work by the local CCIMs and the membership has been accomplished, such as charity golf tournaments, quarterly meetings with guests covering topics that are relevant to commercial real estate and the local economy, and a commercial real estate continuing education course held each July.

The group also conducts commercial real estate training seminars, and hosts a CI 103: User Decision Analysis for Commercial Investment Class, one of the courses required to complete the CCIM designation.

Many designations, whether in real estate, human resources or some other field, require diligence, education and hands-on experience. The CCIM designation is a very rigorous exercise for those who wish to pursue the prestigious and coveted pin that is awarded after a long journey of professional development.

When I started my journey in real estate, I was fortunate enough to have a CCIM as my broker. His guidance and experience was very valuable to me as I started pursuing my CCIM designation. I earned my CCIM pin in 2008, and had pursued it aggressively since 2006.

The amount of time taken to obtain the designation varies by individual and commitment to getting all of the requirements completed.

In order to complete the requirements for the designation, the first step is to take a series of classes:

• CI 101: Financial Analysis

• CI 102: Market Analysis

• CI 103: User Decision Analysis

• CI 104: Investment Analysis

• Ethics (online course)

• Preparing to Negotiate

These classes are offered in many cities throughout the United States as well as Taiwan, and Seoul, South Korea, but now they are also offered online. Traveling to some of the larger cities for the classes is a great experience, and is a great way to network with other commercial brokers and investors.

While completing these classes, it is a good idea to begin working on organizing the required portfolio of experience. The current portfolio requirement is as follows:

• Three or more qualifying activities totaling $30 million or more, or;

• Exactly 10 qualifying activities that must total $5 million or more, or;

• Twenty qualifying activities without regard to total volume, or;

• One or more activities totaling $30 million or more (international only).

Once the education and transactions are complete, the portfolio and a formal application are submitted. Once approved, the candidate can take the comprehensive exam. These are offered several times a year, usually in Chicago or Denver, and other large metropolitan areas.

CCIMs are real estate brokers, but also investment counselors, property managers, developers, attorneys, bankers, appraisers and asset managers. The education is a great tool for a lot of different careers. I have never regretted the time and money that I invested in obtaining the CCIM designation. It is a highly respected designation and an honor to work with fellow CCIMs who were devoted to the education and experience it requires.

Your local chapter is a great resource and a way to get plugged in through its quarterly meetings. I am also available as the NWA Chapter’s designation promotion chairperson to those who may want to pursue the designation. Please see the chapter’s website for additional information: http://chapters.ccim.com/nwarkansas.

Information regarding general CCIM requirements and their numerous benefits may also be found at www.ccim.com. 

Cassie Elliott is a CCIM and executive broker at Crye-Leike Realtors, Bentonville. She can be reached at 479-531-8897.