Need advice transitioning to a real estate role. What licenese/certifications would be helpful?
Hi, I have a background in stock research/investment banking (M&amp;A) for healthcare/industrials industries. Because my parents became ill, I had to run the family business (real estate). Over the years, my parents acquired several investment properties. Because those properties have become a headache and margins are decreasing due to market conditions, we have decided to sell the properties in the near term. During my time managing the assets, I have acquired one property and disposed of one property. I am involved in the complete management of the property including maintenance/leasing/capital improvements. I want to transition to a real estate private equity firm/acquisitions firm and was wondering if any certifications would help me in the transition or allow me to speak more professionally to people within the industry. Any thoughts on the following? If anyone has had direct experience, I would appreciate your help.

Broker License - Can I get one and not have to be sponsored by a broker firm?

CPM-Certified Property Manager. Do property management roles overlap with acquisition roles?

CCIM?

Argus?

Real estate appraiser license?
[{"id": "e19cfaf", "text": "Biggerpockets.com", "replies": [{"id": "e19i2h1", "text": "Thanks for your help. Anything specific about this site that you find helpful?", "replies": [{"id": "e19uvzf", "text": "Would throw that question up in their forums. You could get a dialogue going. \n\nIf your family business is real estate investing or property managment, I would suggest really putting an effort to saving it before trying to find another 9-5 job. It seems like you have some value add property that need some work to get it under control.  You might find the wealth building potential to be great. \n\nYou don\u2019t need any kind of formal education per se.    It\u2019s all about real world experience and getting some guidance and self education. Bigger Pockets is a great place to start and their forum is a great resource. \n\nWith that said, if you\u2019re selling, I could be interested. \n\n", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "e19cqla", "text": "Broker License - This varies depending on the state, but at least in my market, if you are going to engage in leasing or selling efforts on behalf of a 3rd party owner or tenant, you are legally required to have a Broker license. These requirements are probably something your state website has laid out.\n\nCPM - Property management roles rarely overlap with acquisition roles. The skill set is very different and most companies have different people for each. If you are a small shop, you may have to wear both hats to start, though.\n\nCCIM - This one might be a good idea. CCIM Institute offers a lot of training and education courses that could get you up to speed quickly on commercial real estate.\n\nArgus - This is the industry standard for valuation and portfolio management software. Every sophisticated owner/investor has it and uses it extensively. I would highly recommend you purchase a license.\n\nHope this helps.\n\n\\~A", "replies": [{"id": "e19cvr5", "text": "Get Argus certified it costs a grand or two don\u2019t get an ARGUS license other than one that comes with the certification class it is thousands of dollars.", "replies": [{"id": "e19hxns", "text": "Thanks for your help. do you mean this ? [http://customer.argussoftware.com/s.nl/it.A/id.1825/.f](http://customer.argussoftware.com/s.nl/it.A/id.1825/.f)\n\nIt says the exam is $350. The bundle seems seems to cost $1k+", "replies": [{"id": "e19mk0u", "text": "You're going to need the bundle. You won't be able to pass the exam without the other the materials from the bundle unless you have extensive prior Argus experience. Knowing Argus Enterprise will keep your resum\u00e9 in the pile versus the trash. I've been doing investment sales at my dads firm for the past few years but am transitioning to a larger firm doing investment sales or possibly asset management. PM me if you have any questions as I've become very familiar with the barriers to entry in the CRE finance world at my level.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "e19hv35", "text": "Thanks for your help. Do you know if an \"Asset Manager\" and \"Property Manager\" are the same thing? I believe their responsibilities involve the day to day operations and perhaps asset disposition? \n\nRegarding Argus, would you consider it a big plus when hiring or a requirement?", "replies": [{"id": "e1blnph", "text": "Asset manager is typically higher level (a portfolio of assets) vs property manager tends to focus on a single asset/property. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "e19g7b9", "text": "When you say broker license - have you gotten your salesperson license yet? But yes, a real estate license will be a big help, and depending on your local regulations and your own needs, you may want to just leave it on referral and use it that way.   \n\n\nCPM - helpful, not super necessary. Again depends on your market/competition.   \n\n\nCCIM/SIOR are great for education networking if you want to do more brokerage-transactions, but again if you want to focus primarily on building wealth through equity and the ownership of real estate, not super necessary. ", "replies": [{"id": "e19i1nl", "text": "Thanks for your help. What do you mean by \"leave it on refferal\"? Do you mean i would still have to be sponsored by a broker? If so, would that hamper my ability to sell my own properties or choose a different broker to use for my own properties?", "replies": [{"id": "e19j4r1", "text": "Check for your state, but unless your state is unusual, when you first get your license, you will have to have your license at a brokerage for a certain amount of time until you get whatever your state calls the license required to be your own broker. \n\nDepending on what you want to do, you should choose a brokerage that will help the most with that. Wherever you go, negotiate to be able to do your own transactions (the properties you own/will buy) without paying the broker a commission. ", "replies": [], "depth": 3}, {"id": "e19uwg2", "text": "It means you would hang your license with that broker, but the fees are much lower, and the only real downside is you can't have your name on a sign. \n\nEssentially, you would \"refer\" that listing to someone in that office, but you can still handle the negotiations and transaction as much or as little as you'd like. For buying you're \"referring\" the buyer to the listing agent, but you're still able to buy them. The main point here is you need to disclose that as a buyer or seller you do have a real estate license. \n\nAs for using another broker to sell your property you're more than able to do so. The broker that you \"work for\"/hang your license with might not like it, but you acting as a landlord/seller with your personal propeties is different than you as a broker, and they shouldn't take it personally. I'm not sure why you'd do that anyway, but it's an option. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "e1ab48b", "text": "From my experience those roles you outlined do not generally need specific certifications. If you want to break in you might have more luck joining local professional real estate groups or get a MBA/MSRED if you are at that stage in life. ", "replies": [{"id": "e1afo14", "text": "Thanks for your reply. Which groups do you recommend?", "replies": [{"id": "e1av8hi", "text": "Depends on where you are from. I\u2019d suggest looking at something like the Urban Land Institute. Find a local real estate magazine and they will have interviews with some of the major players in the area. Usually they will mention which groups they are involved with. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "e1au3ux", "text": "Based on your prior experience, you don\u2019t really need any certifications. RE modeling isn\u2019t that difficult and you should  be able to figure it out fairly easily. Look into Mortgage Brokerage (Debt and Equity Placement) at shops like CBRE, HFF, JLL, Cushman ect. ", "replies": [], "depth": 1}]