CCIM Feature
The ROI on CCIM Education
CCIMs in small markets and small
firms initially may be attracted to the CCIM education program because it’s one
more way to distinguish themselves in a limited market. Often, though, the
education program ends up fundamentally changing the way they approach their
business.
“My CCIM education has transformed formerly complex
financial concepts into second nature analytical skills for me,” says Daren W.
Hebold, CCIM, associate broker with Daigle Commercial Group in Portland, Maine.
“It makes a tremendous difference in prospects' willingness to entertain follow
up meetings.”
“I constantly use the financial analysis skills from
CI 101,” saysDean
Weitenhagen,CCIM, of Fleetwood Commercial Real Estate Services in West Des
Moines, Iowa. “It is feeling competent in analyzing current and
projected financial outcomes that most helps my clients.”
But
in today’s challenging market, such confidence in financial analysis skills
isn’t a value-add, it’s a necessity, says Tim B. Thompson, CCIM, of Deerfield
Commercial Real Estate in Holyoke, Mass.
“Buyers
are becoming more sophisticated, and many are looking for additional upside in
every facet of the deal,” he says. “Factors such as hold period, taxation,
set-aside for capital reserves, and others are principles that must be understood
and taken into consideration. I use CCIM spreadsheets on a daily basis to chart
out all the variables.”
Creditability
is another attribute that clients look for in this market. And it can be especially
difficult for young professionals to gain clients’ trust. “I am 26 years old so I am
always trying to build credibility, and the designation is very helpful in
doing that,” saysCasey Weiss,
CCIM,principalofAccess Commercial Real Estate in St. Paul, Minn. “When I explain the
process of obtaining the CCIM designation, my clients realize that I have
experience and advanced knowledge of the industry.”
He adds
that “When
I started my business in 2007, the market was still great and properties were
moving fast at high prices. Now, clients look to me as more of an adviser in
today’s market, so having experience that they trust is very important.”
For
more tips on how to survive challenging markets, read “Thinking Big” in the
May/June 2011 issue of CIRE.