Multiply the number of agents you manage by $5 million and then
multiply the result by 75%. For Active Managers who managed 10 or
more agents, candidates are to use 10 agents (maximum) as the number
of agents in completing this calculation.
c.
Minimum of 15 or more qualifying transactions equal to or greater
than the dollar amount derived in (b) above.
Agents
Total
75%
15
Avg. Trans.
3
15,000,000
11,250,000
750,000
250,000
4
20,000,000
15,000,000
1,000,000
250,000
5
25,000,000
18,750,000
1,250,000
250,000
6
30,000,000
22,500,000
1,500,000
250,000
7
35,000,000
26,250,000
1,750,000
250,000
8
40,000,000
30,000,000
2,000,000
250,000
9
45,000,000
33,750,000
2,250,000
250,000
10
50,000,000
37,500,000
2,500,000
250,000
Active Manager Category Can Include the Following Professions:
• Asset/Portfolio Advisors and Managers
• Corporate Real Estate Officers
• Pension Fund or Insurance Managers
• Supervising/Managing Brokers
Commercial Active Advisory
a.
A minimum of $500,000 in gross (commercial & investment) income
during the proceeding five-year period.
b.
Income derived from qualified transactions as defined.
Active Advisory Category Can Include the Following Professions:
•
Exchange Facilitator
• Accommodators
• Tenant In Common Sales Representatives
Sale/Purchase/Exchange
•
Qualifying activity: Completed property transfers.
•
Volume: Determined by value of property conveyed.
•
Substantiation: A copy of the recorded and signed
deed or a closing statement signed by all principals or, in escrow
states, by the escrow officer or other title company official, and
the candidate.
Only submit pages that include significant elements:
– Legal description of the property.
– The agreed-upon sale price.
– Signatures (HIGHLIGHT YOUR SIGNATURE).
– Any other pertinent pages that document your role.
Commercial Mortgage Financing
•
Qualifying activity: Closed first-position loans
on qualifying commercial property.
•
Volume: Determined by value of financing.
•
Substantiation: Copy of the signed loan documents,
closing statements, and mortgage/deed of trust.
Commercial Consulting
•
Qualifying activity: Performance by a fee consultant
relating to the transfer, leasing, or development of qualifying
property where a complete
consultant’s report, including analyses, was
prepared
and compensation was received. To qualify, all consulting activities must be
at
arms-length, without conflict
of interest.
•
Volume: Determined by the value of the project.
•
Substantiation: Copy of the complete consultant’s
report, commentary on course of action taken following consultation,
submittal of the employment agreement,and copy of the paid bill
for services
for
consultation.
Commercial Development
•
Qualifying activity: Completed developments, which
result in substantial change in character or the use of property,
that
can be fully documented and analyzed.
•
Volume: Determined by the present value of the
completed development.
•
Substantiation: The formal approval documents
or permits, site/development plans, evidence of actual closing(s),
completed property transfers, and an appraisal or other documentation
showing the value
of the completed development.
•
Raw land such as a ranch or farm is an acceptable
qualifying activity as long as the transaction is not considered
solely as a business transaction (such as a dairy farm) and the
underlying real estate is held for investment
purposes, in compliance with IRS Code 1221 and/or 1231. The real estate should
be the underlying
factor in
the transaction, not the existence
of
any business transaction. If the raw land is considered
to
be a speculative investment hold transaction, substantiation of such future growth
or change in use should be
provided.
Documentation of the expected changes to the property should be included; examples
of documentation would be an aerial photograph to show the path of growth, supporting
demographics,
etc.
Exchange Facilitator/Accommodators
•
Only qualify if they can meet guidelines defined
under consulting
Commercial Lease
•
Qualifying activity: Completed leasing
of qualifying real estate, with a lease term of one year or more.
•
Volume: Determined by gross value of lease signed
(exclusive of automatic renewals, options, etc.) Example: 3-year
lease @ $10,000 rental/year = $30,000 volume.
•
Substantiation: Fully executed copy
of the lease. Again, only submit pages that include significant elements: legal
description of the property, the agreed-upon lease amount, signatures
(HIGHLIGHT YOUR SIGNATURE),
and any other pertinent pages that document your role.
•
While automatic options and renewals do not qualify,
substantially renegotiated leases or renewals that are materially
changed from the original lease may be accepted. Submit copies of
both leases and highlight changes.
•
In the case of residential investment properties,
a notarized statement or similar documentation must be provided to
substantiate that the property is considered an investment and is
non-owner occupied. (In the United
States,
copies of Schedule E compliance with IRS Sections
1221 or 1231 is required.)
Qualifying Residential Investment Properties are defined as:
•
Properties that are not owner occupied
AND;
•
The property must be professional managed AND;
•
In single family, duplex, or tri-plex investment
transactions, a written lease must exist and a copy of such
lease must be submitted AND;
•
A property where financial analysis has been used
in the marketing of the property. You are required to attach
supportive documentation that demonstrates your use of the CCIM skills
in the
marketing of any residential investment property AND;
•
A property where the owner filed an income tax return
showing income, expense, and depreciation for the property AND;
•
Notarized or similar documentation must be provided
that substantiates the property as non-owner occupied investment.
(In the US, copies of Schedule E compliance with the IRS Sections
1221 or 1231 must be provided) AND;
•
Any residential investment property submitted must qualify either under IRS Section 1221* or 1231*.
*Section 1221 - This asset is a property held primarily
for long-term appreciation in value versus current income, such as a
semi-rural site purchased and held for future appreciation as a community
expands.
*Section 1231 - This asset is a property held primarily to produce
income for use in a trade or business, such as a retail store, office
building, apartment building, or warehouse held as a rental property
or a user property.
Other Qualifying Professions
In addition to the traditional professions of brokerage, development, financing,
and consulting, many allied non-traditional specializations qualify for
the CCIM designation. The following list of occupations, under which portfolios
are commonly submitted, reflects some of the many diverse specializations
that may qualify:
•
Asset/portfolio advisors and managers.
•
Licensed real estate brokers, salespersons, and
supervising brokers who demonstrate material participation.
•
Fee consultants to principals.
•
Corporate real estate officers, employees, financial
analysts, etc.
•
Officers and salaried employees of development
organizations.
•
Governmental real estate officers or employees.
•
Mortgage bankers or brokers.
•
Pension fund or insurance managers.
•
Principals acting on their own behalf.
•
Syndication sponsors.
•
Others whose real estate activities involve commercial
investment properties.
Non-Qualifying Activities
Specifically excluded from qualification are:
•
Mortgage financing on residential property of
less than four units.
•
Land: sales of less than four single-family unimproved
lots that do not qualify under IRS Sections 1221 or 1231.
•
Transactions in which the candidate did not have
material participation.
•
Business opportunities (exclusive of qualifying
commercial real estate).
•
Sale or Purchase of personal residences.
Questions About Qualifications
Where there is a question of whether your specialization qualifies for
the designation, refer it to the overall principal: There must be substantial
involvement with real property of a commercial and/or
investment nature.
As a standardized means of assessing that your experience qualifies for
the designation, please follow the guidelines found under Required
Contents. If you are unable to do
so, provide as much documentation and explanation as you can. Your portfolio
needs to clearly identify a character and level of activity consistent
with experience requirements applied to all other candidates.
The following factors will be taken under consideration:
•
Years of experience or business activity.
•
Nature of position or assignment and type of
responsibility.
•
Evidence of achievement in specialty (i.e.,
corporate review, advancement, professional designation(s), advanced
degree, special recognition).