During periods of economic unrest, everyone is looking for solutions. What sets CCIMs apart is the number of solutions they have right at their fingertips. For example, turn to page 39 to learn what strategies CCIMs are using with troubled tenants. Type in www.ccim.com to register for a Web conference on working with distressed properties. Or log on to CCIM MailBridge to broadcast your property-related haves and wants to a network of self-selected interested designees and candidates.
CCIM is not just four letters on a business card. And it’s not just a dues payment every year. It’s an active association of professionals in all industry sectors. Brokers, corporate real estate executives, asset managers, lenders, pension fund advisers, attorneys, accountants, appraisers, property managers, and others are all members of the CCIM network. These 18,000 professionals in nearly 1,000 markets are available online, on the phone, and at networking events. Reach out and use their expertise.
The designation and professional network are the top reasons why commercial real estate experts worldwide take our courses. They also know that CCIM members have the technology tools to find solutions fast. STDBonline is one of CCIMs’ prime resources. For example, a South Florida CCIM, concerned about his half-empty strip center, did a STDB retail market profile and found an undersupply of two tenant types in his submarket. He contacted the stores that fit the tenant profiles, negotiated leases, and brought his center to 100 percent occupancy. In another case, an industrial consultant used an STDB drive-time analysis to show tenants they were located too far from their customer base. He convinced them to relocate to another facility, increasing their on-time deliveries.
Be assured that professionals outside the CCIM network also rely on its credibility. In one instance, after foreclosing on several real estate loans, a banker used the CCIM database to locate CCIMs in his area who specialized in the properties he now owned. He asked them for opinions of value and is now awarding assignments to them. A mini-storage owner took a CCIM cost- segregation course and learned he had been undervaluing his leasehold improvements. He engaged a CCIM as a consultant to put together a schedule of improvements and, with the help of an accountant, filed an amended tax return that netted him a huge tax refund.
CCIM Institute will soon roll out a complete rewrite of its four core courses — a new education program that reflects changes in commercial real estate. Designees should consider retaking those core courses to avail themselves of the latest educational resources.
Finally, I congratulate James L. Helsel Jr., CCIM, CPM, SIOR, principal with RSR Realtors, who was re-elected treasurer of the National Association of Realtors for the third year.
The CCIM network offers limitless opportunities. Take advantage of the many benefits today.