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S P E C I A L R E P O R T

Photography By: Tim Crowell

(From Left to Right) Barry Moore, Tedd Rosenstein (current president), Andrew Levy, Soozi Jones Walker, Miriam Campos-Root, Charlie Mack, E. Thomas NaseefCCIM Presidents

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eal estate is arguably the indus-try hardest hit by the current economic crisis. In a recent sur-

vey of more than 130 commercial real estate executives, 62 percent said their real estate values are lower today than they were a year ago, and 51 percent believe real estate pricing will be even lower a year from today – daunting sta-tistics for industry practitioners hoping to keep their businesses afloat. The world’s companies rely on avail-able, affordable commercial real estate that properly addresses their business needs. And in a slow economy, they will need to turn to the best commer-cial real estate practitioners – those

with the knowledge and expertise to find them the best deals on the proper-ties most suited to their needs. That’s why the Certified Commercial Invest-ment Member (CCIM) designation means more now than ever before.

An Education of Distinction

CCIM designees are recognized ex-perts in commercial and investment real estate. Less than six percent of commercial real estate practitioners nationwide hold the designation, mak-ing it one of the most coveted and re-spected in the industry. These profes-sionals are part of an elite corps of

just over 9,000 individuals in North America and over 30 countries who have completed a complex series of coursework, demonstrated a high level of transactional experience and under-gone rigorous testing in order to be-come proficient in the theory and prac-tice of commercial and investment real estate. “The CCIM designation is the Ph.D. of commercial real estate,” says Soozi Jones Walker, CCIM, SIOR, corporate broker and president of Commercial Executives, one of the founding mem-bers and three-time past president of the Southern Nevada CCIM Chapter. “From a client’s perspective, hiring a

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CERTIFIED COMMERCIAL INVESTMENT MEMBERS

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Certified Commercial Investment Members

CCIM designee provides them with a top professional who is an expert in se-lecting and analyzing commercial real estate.” The CCIM Institute, an affiliate of the National Association of REAL-TORS, confers the CCIM designation to the full spectrum of practitioners in the industry, including brokers, leasing professionals, investment counselors, asset managers, appraisers, corporate real estate executives, property man-agers, developers, institutional inves-tors, commercial lenders, attorneys, bankers and others whose combined transactions total more than $200 bil-lion annually. In order to earn this prestigious des-ignation, candidates must complete the CCIM curriculum consisting of four core courses that incorporate essential CCIM skill sets. These are financial analysis, market analysis, user deci-sion analysis and investment analysis for commercial investment real estate. Additional electives are also offered in a variety of specialties. “The courses offer practical knowl-edge and real-world examples. Candi-dates learn through the courses how to analyze commercial real estate, and how to be proficient in the various the-ories,” says Bobbi Miracle, CCIM, ed-ucation chair for the Southern Nevada CCIM Chapter. “To me, the CCIM des-ignation is as valuable as my college degree.” Upon completion of coursework, candidates must submit a portfolio of completed transactions and/or consul-tations that demonstrate a wide range of experience in the field. Once these requirements are fulfilled, candidates must complete a comprehensive exam that covers the breadth of education and experience earned throughout the program.

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Ongoing Education

Additionally, CCIM designees are committed to continuing education in order to remain at the top of their field. The CCIM Institute offers a series of Web courses that may be taken by designees or candidates, and which deal with timely issues. At the time of this writing, for ex-ample, a strategic negotiations course was made available. Every year, the Southern Nevada Chapter offers scholarships to worthy chapter members who are candi-dates, to assist professionals in their pur-suit of the designation. “The local chapter supports candidates as they complete the program, guiding them through the process,” says Miracle. “Students have discussed with me the knowledge and confidence they have gained from completing these courses.” It certainly offered that to Andrew Levy, CCIM, owner/broker of Andrew Levy Commercial Real Estate. Levy earned his CCIM designation in 1996 and was president of the Southern Nevada Chapter in 2001 and 2002. As someone who was born and raised in Las Vegas, he says that his CCIM education opened his eyes to other markets. “As a single opera-tor, I’ve found that it makes for a bigger picture for prospective purchases and in-vestors,” says Levy. “I may not know Or-ange County, but with the knowledge I’ve gained through CCIM, I could hold my own doing research there to learn what the market’s really like, and that might open more doors for me and my clients. So that extra knowledge and ability to conduct better research has made a big difference for me.” The relationships formed during the process become invaluable, says Miracle. “There’s a true camaraderie between the students, and a sense of satisfaction they all share by completing their designation. The networking is wonderful!”

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CCIM Offers an Upside ina Down Economy

Soozi Jones Walker began her quest for the CCIM designation in 1984 (and earned her designation in 1991), at a time that was widely considered the worst real estate mar-ket since the Great Depression. “I had al-ways wanted to do commercial real estate, but could not find training. There were not many people who could train you in the field, because less than 10 percent of all real estate licensees do commercial,” she says. “I took advantage of the slow market to go after the education and experience I needed to be a CCIM. It has given me a leg up, and more tools for my tool belt. I have excelled because I had the knowledge to understand my clients’ needs.” In fact, Jones Walker went on to become a national CCIM instruc-tor – the only one in Nevada and one of only 87 worldwide. Charlie Mack, CCIM, owner of Mack Realty, has been a commercial broker since the mid-80s as well, and earned his CCIM

designation in 1990. He’s currently in his 16th year as a national director of the CCIM Institute and a past two-term president of the Southern Nevada CCIM Chapter. Mack knows from experience that a slow economy presents unique opportunities. “It’s imperative in a bad market to be bet-ter armed than the other person,” he says. “I’ve made more money in a few down mar-kets than I have in the up ones. In fact, when I first earned my designation, the savings and loans had just crashed. Down markets are opportunities. Those commercial bro-kers who have the education, background and networking abilities will be the ones who succeed, and that’s where the CCIM comes in.” This has certainly been true for Adam Gregory, CCIM, a relative newcomer to the field who just earned his designation this past October. He says the CCIM has already of-fered him a competitive advantage. “I’m 27, which many see as too young, and several have doubted my abilities. But when clients see that I have the CCIM designation, I com-

mand more respect right off the bat. It adds credibility, and it gives me more perspective and makes me more well-rounded.” Gregory, vice president of Access Com-mercial Mortgage, a statewide commercial finance company, points out the specific ad-vantages that a CCIM education has given to him in his particular line of work. “I look at things from a lending perspective, so if a client calls wanting to refinance a property, I’m able to look at the numbers and ask what that client will need to do with that money, because it may not make sense to refinance in their situation or in this economy,” says Gregory. “So I can do an analysis of refi-nancing versus buying new. I certainly have more tools at my disposal than the everyday mortgage broker without a CCIM designa-tion.” “The classes we completed teach under-writing, how to analyze commercial real es-tate and what the values of properties should be,” says Devin Lee, CCIM, past president of the Southern Nevada Chapter and co-founder and president of Access Commercial

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Mortgage. Lee was the first CCIM chapter president who was not directly involved in the leasing and sales of commercial real es-tate property. “I underwrite cash flow deals every day, and I learned that through the CCIM curriculum. Others who don’t have the designation just draw up contracts, but many of them don’t even know what a cash flow analysis is, and you shouldn’t be look-ing at investment property without knowing that – especially not in a market like this.” One of the CCIM courses, CI 102, focus-es on site selection and highest and best use. This knowledge is vital to developers and brokers alike,” says Jones Walker. “CI 103 analyzes the cost of leasing versus buying. This process compares the two types of oc-cupancy from the client’s perspective after tax, allowing them to make an informed de-cision. We can’t make clients’ decisions for them, but we can certainly make sure they have more than just a gut feeling.” In the current economy, CCIM is also an invaluable asset in the property management business. “In the CCIM program, we learn budgeting, maintenance costs and how to save landlords money,” says Alon Ventura, CCIM, broker/owner of a Southern Nevada franchise of RE/MAX Commercial Profes-sionals, Inc., a full service commercial real estate company. “We can help a landlord save on his expenses, manage a property effective-ly and get just the right tenants into a prop-erty, thereby increasing their bottom line.” Tedd Rosenstein, CCIM, current presi-dent of the Southern Nevada Chapter of CCIM and president and owner of Nevada Development and Realty Company, says the designation ultimately benefits his clients as well as his own business. “It gives me a much deeper understanding of all aspects of a transaction, whether the client is a land-lord or tenant,” he says. “Our analysis of a property’s performance, our valuation and forecasting, are critical – especially today. It benefits clients in that we can provide the very best information to help them make

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decisions. Timing, valuation, exit strategies, entry strategies – all of those things are part of the decision-making processes, and we provide those tools to help our clients make the very best decisions. And in an economy like this, there’s nothing more important.” As Charlie Mack explains, the CCIM designation puts you at the forefront of the industry. “If you’re not learning more, you’re falling behind. Everybody else is moving forward. The way we used to do things has changed, and there’s a lack of money out there from conventional lenders. So you need out-of-the-box ideas to be successful in this business, and CCIM can give you that.”

A Wealth of Resourcesat Your Fingertips

The CCIM Institute and its local chap-ters also offer a variety of other tools and resources to designees and candidates that aren’t available to other practitioners – tools that help them to work more efficiently and effectively for their clients.

The first of these, and arguably one of the most important in a slow economy, is a pow-erful networking base. Because the CCIM membership includes not only brokers and leasing professionals, but also those in the investment and asset business, appraisers, developers, property managers, mortgage brokers, and even attorneys and bankers, CCIM offers those working in the industry the ability to cast a wide net with regard to networking and referrals. “I took my CCIM classes in Las Vegas and Southern California, and a lot of people from the East Coast came here to complete their classes, too, so I was able to meet a wide range of people,” says Adam Gregory, who says the relationships he formed during this time have been crucial to building his career. “There weren’t too many mortgage brokers going through the program, so those people I met remembered me and would re-fer me. “Locally, our chapter hosts a variety of networking events, including monthly meet-ings and our annual wine tasting, which

raises money for local nonprofits,” says Jones Walker, adding that roughly 60 per-cent of her transactions over the past year have been with other members of her CCIM chapter. “Referrals and leads are constantly being generated. If a customer is looking for a specialty outside of my expertise, such as multi-family or hospitality, I will refer them to another CCIM in the market who practices in that specialty. I know they have received the same education and that they have the expertise to help my customer. In these times, it is more important than ever to know with whom you’re doing business.” One of the valuable tools that CCIM provides to designees and candidates ex-clusively is the Site To Do Business, or www.stdb.com. This Web site provides the information and resources that commer-cial real estate practitioners need to under-stand the past, present and future trends of properties and geographical areas. The site features comprehensive site analysis tools, mapping software, demographic data, aerial photography, financial analysis

“Referrals and leads are constantly

being generated. If a customer is

looking for a specialty outside of my

expertise, I will refer them to another

CCIM in the market who practices in that

specialty. I know they have received the

same education and that they have the

expertise to help my customer.

Soozi Jones Walker, CCIM

“

6 CCIM 20096 CCIM 2009 CCIM 2009 7

tools, transaction management software, customized report options and a variety of other business services. “It’s literally a savings of about $10,000 a year,” says Alon Ventura. “If you hired a third party to gather that information, you’d probably pay at least that much, and it’s all included in our fees for membership.”

A Powerful Alliance

Another valuable benefit that the South-ern Nevada CCIM Chapter offers its mem-bers is a partnership with Commercial Al-liance Las Vegas (CALV), the commercial real estate arm of the Greater Las Vegas Association of REALTORS (GLVAR). The mission of CALV is to organize and empower the local real estate community. Its objective is to enhance the collective in-fluence of its members by shaping public policy, providing education and networking opportunities and utilizing its commercial property listing service, the Commercial Information Exchange (CIE), to promote professionalism and expertise in the field. As the two prominent commercial real estate practitioner organizations in the Valley, CALV and the Southern Nevada CCIM Chapter provide assistance to each other via research and marketing tools to benefit members’ businesses. As Gary Banner, CCIM, CRE, past-president of CALV, explains, one of the organization’s future goals is to thoroughly gather information on all property types in Clark, Lincoln and Nye counties and include that information in the CIE. Great strides have already been made regarding the CIE; during the first half of 2008 alone, listings increased by 300 percent. Gary Cuff, CCIM and 2009 president of CALV, also points out that CALV provides educational assistance to CCIM designees as well. Not only does the Southern Nevada CCIM Chapter hold many classes at the GLVAR offices, but CALV holds an annual symposium each fall, in which high profile

speakers and educators in the field of com-mercial real estate come to speak and lead workshops on pertinent, timely topics in the industry. CCIMs may take advantage of this symposium to enhance their knowl-edge base and gain continuing education credits, which the state requires in order to renew a real estate license. “The CCIM designation assures my cli-ents that I have a certain level of expertise and experience in my field, so they’re as-sured to get the most up-to-date informa-tion,” says Banner. Cuff points out that this spirit of cooperation is crucial, which is why the local chapter of CCIM and Com-mercial Alliance share many members and chairpersons. Both he and Banner, business partners in the Las Vegas office of the full-service commercial realty firm Commerce CRG, hold leadership positions in both or-ganizations.

A Golden Opportunity

Clearly, earning the coveted CCIM designation is about much more than just prestige. Designees gain a greater sense of confidence; a top quality, up-to-date edu-cation; the full complement of resources, research marketing tools; and a powerful connection to other leaders in the field. In a challenging economy like this one, there’s never been a better time to take advantage of what CCIM can offer you. “These kinds of markets, while they hurt, are good for us. They force us to ap-proach things in a better way,” says Soozi Jones Walker. “So if people take the time, that this slow economy gives us, and invest in gaining additional knowledge, there’s nowhere to go but up as far as their ca-reers are concerned. It’s never been more important to know how to sell, and how to understand people. Now more than ever, CCIM.”

Jessica Santina is a freelance writer based in Northern Nevada.

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Some Things in LifeDemand Total Expertise

Now More Than Ever...

Discover why less than 1% of the world’s commercial real estate professionalshold the coveted Certified Commercial Investment Member designation.

To contact a CCIM expert in your market, call702-798-5156 or visit www.ccim.com

Site Selection ● Development ● BrokerageLeasing ● Valuation ● Lending ● Investment Analysis

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Experts in Commercial Investment Real Estate