CCIM: tell me about it
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[{"id": "dwn8f1e", "text": "The course of study costs about $8k for institute members (4 required courses, an elective course, negotiation training, plus the exam fee and the cost for pre-exam review, which you should take) plus the $650/year membership cost. So you're looking at an outlay of about 9 grand.\n\nChecked your post history, it looks like you're in a major metro in the South, I'll assume the \"GA\" tag means Atlanta. You're in luck that Atlanta has extremely frequent CCIM offerings, so there's no travel expense (which can easily add another $2k-ish in expenses). \n\nYour biggest issue is probably the Portfolio of Qualifying Experience, which requires you to demonstrate material participation in a certain number of deals amounting to a certain dollar total.\n\nThe courses are very informative and great opportunities for networking, they shouldn't be terribly difficult if you're succeeding in your finance courses.", "replies": [{"id": "dwn8qrj", "text": "Appreciate the thorough answer.\n\nYea this pretty far out from me, I'm a college senior (finance major) but I'm going into CRE brokerage/investments and every guy I have met with has told me \"you really need to be CCIM as soon as you can because it drastically pays off\" so I'm trying to learn as much about it as possible. ", "replies": [{"id": "dwn9ng6", "text": "Look into SIOR as well. I know some brokers who have found that to be a more effective referral resource than CCIM. ", "replies": [{"id": "dwos1ac", "text": "SIOR is also good. The requirements are higher to get in (3 out of the last 5 years with $300k Gross income, I believe) and more of a traditional professional organization whereas CCIM focuses more on education / financial underwriting accreditation. ", "replies": [{"id": "dwvbm1k", "text": "Yes, recently at a conference I heard an industry expert estimate that there were 19,000 commercial brokers in the US, if 9,000 are CCIM and only 3-4,000 are SIOR, that should tell you something about the exclusivity. ", "replies": [], "depth": 5}, {"id": "dwx5ja5", "text": "The top broker at the company I intern with is SIOR. I\u2019m currently going into commercial brokerage because it fits my personality. My ultimate goal is to end up working for a real estate private equity on the ownership side. Many guys who work in REPE were brokers starting out. ", "replies": [{"id": "dwy8dgm", "text": "Many brokers make more than private equity guys, unless they are a principle.", "replies": [{"id": "dwyanif", "text": "I would have to say that definitely varies per market. In my market top brokers maybe make 400-700k. But private equity guys could make 500-2 million. But in large markets like LA, NYC, ATL some brokers for sure make over a million. ", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dwnb9y7", "text": "I took the CCIM 101 course to sharpen up my finance skills, but haven\u2019t taken the rest.\n\nMost brokers I have talked to say it is outdated and a waste of time and that the designation has lost its allure.\n\nYou can come to your own conclusions and if you think it is important in your market and for you, then do it. ", "replies": [{"id": "dwog0yq", "text": "This", "replies": [{"id": "dwog15f", "text": "That.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dwotlhf", "text": "I don't think CCIM has lost it's allure here in the southeast. Both GA and NC (where I am) have really strong chapters. I think it could be phased out a bit once the younger brokers start taking over but for now most of the top brokers are in their 40s and 50s and a good chunk of them are CCIMs. \n\nThe 101 class is great for new brokers and to learn the basics of investment cre, it was hard. 102 was worthless but easy and 103 is great if you're doing a lot of tenant or buyer rep. I'm taking 104 in the fall so no opinion on that one yet. \n\nDon't forget that they offer scholarships through your local chapter. No one ever applies and they are easy to get, I get one for each class I've taken. GA offers pretty good ones too, $1000. NC is only $600. \n\n", "replies": [], "depth": 1}, {"id": "dwpm7ey", "text": "I work in principal investing side and CCIM designation hasn\u2019t really mattered to me in brokerage selection / manager selection. I\u2019m much more resume focused for both on what people have actually done for deals not so much deal education. ", "replies": [], "depth": 1}, {"id": "dwwyxw3", "text": "I am pursuing it, but only because my company is paying for it.  I personally don't think much of the designation, and would not choose someone with a CCIM over someone without it if that was the only difference qualification wise.  But it could be good for brokerage, and for new investors, anything that helps set you apart is a good thing.  But the cost to me feels too high, and you'll get more use of it in certain areas in the country than others.", "replies": [{"id": "dwx3cmi", "text": "Yea, my goal is to work at a real estate private equity or private capital company focusing on real estate. I feel like having a CCIM would just help add some more shine next to my name. It also makes people more comfortable investing with you I feel. ", "replies": [{"id": "dwxa8bb", "text": "If that's your goal, in my opinion it might be wasted money.  I've worked in private equity and private capital, and experience, connections and pedigree is what gets you those jobs.  Not sure where you live, but having a CCIM designation won't make you shine in my opinion.  I know if I was hiring someone, that wouldn't make a difference, unless it's the only difference.  Then maybe, but honestly for the cost and time, it's not a great use of resources.\n\nI think spending that money on going to industry events and meeting people is a better use of time and money, but that's my opinion.", "replies": [], "depth": 3}, {"id": "dwxahk7", "text": "Before I sound too negative, I do want to say that when I went to CCIM 101, I actually got two job offers from people there.  One was the head of a brokerage firm who wanted me to run the numbers for his firm, while the other was actually from the woman teaching the class who had a private equity firm.  I turned them both down, but you never know when an opportunity will come up, and CCIM will give you a chance to network.", "replies": [{"id": "dwxj9dx", "text": "Yea, I just feel it couldn\u2019t hurt. Being a member of a CCIM chapter is a great network. Life is about options and if getting this will lead to possibly more options then I\u2019m about it. ", "replies": [{"id": "dwxmo33", "text": "Good luck!", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]