Transcript Introducing the Online Portfolio of Qualifying

Introducing the Online Portfolio
of Qualifying Experience
Requirements for the CCIM Designation:
•
Become a Candidate of the CCIM Institute.
•
Complete all four Core Classes
•
Complete two Electives
•
Complete free online CCIM Ethics training
•
Complete 8 hrs of Negotiation Training (3 formats offered) –
Required for Candidates in good standing and applying for the Designation after
January 1, 2011. Strongly Encourage for ALL candidates/ students prior to taking
CI 103 or CI 104.
•
Approved Portfolio of Qualifying Experience or New Online Portfolio
•
Successfully Pass the Comprehensive Exam
CANDIDATE TRACK
CANDIDACY
Effective January 1, 2011:
CI-101: Commercial Financial Analysis
Must be retaken if prior to 1992
CI-102: Market Analysis for Commercial Real Estate
Must be retaken if prior to 1999
CI-103: User Decision Analysis for Commercial Investment Real Estate
Must be retaken if prior to 2000
CI-104: Investment Analysis for Commercial Investment Real Estate
Must be retaken if prior to 1999
2010-11 Candidate Guidance Schedule
2010 Candidate Guidance Schedule
2010 Fall Program
National
2011 Spring Program
National
2011 Fall Program
National
July 30
February 1
July
Exam Registration
Deadline
September 13
March
September
Course Concepts
Review
October 19-20
Orlando, FL
April 13-14
Bethesda, MD
October 10-11
Phoenix, AZ
Comprehensive
Examination
October 21
Orlando, FL
April 15
Bethesda, MD
October 12
Phoenix, AZ
Portfolio
Submission
Deadline
Online Portfolio Volume Requirements
Volume Requirements through December 31, 2011:
• 1 or more qualifying activities totaling a minimum of $30 million.
This category will be eliminated on December 31, 2011.; OR
• Exactly 10 qualifying activities that total $5 million or more;
OR
• 20 qualifying activities without regard to total volume
These volume requirements will increase on January 1, 2012 back
to 10 activities totaling $10 million or 30 qualifying activities.
Two Portfolio Options
Traditional Portfolio:
• Verification of Activities (transactions), Volume, and Material
Participation through submission of documentation on each
activity.
• Documentation is organized and placed in a Binder and sent to
the CCIM Institute.
• Documentation reviewed by a CCIM Portfolio Grader
Assembling Traditional Portfolio
Each portfolio submitted should
contain the following in this order:
•
Portfolio Summary Form
•
•
•
Portfolio Cover Sheet
Summary of Qualifying Activity
Portfolio checklist
FOR EACH ACTIVITY:
•
Activity Data Form
•
•
Settlement Documentation
2 Proofs (at least ) of Candidate’s Role
•
Required submission of examples of
CCIM Skill Sets has been eliminated
Two Portfolio Options
New “Beta Test” Online Portfolio
•
Application Form filled out and submitted online
•
Submit a full professional resume of Commercial Real Estate
Experience
•
Submit a Detailed Summary of Activities (similar information as on
Traditional Portfolio)
•
Volume requirements are verified by Affidavits signed by Employer
(Managing Broker, CFO, or CPA or Tax Accountant).
•
Must have 5 years experience in Commercial Real Estate
Summary of Activities, Transactions, Projects, Work Product
(Draft)
Commercial
Transaction
Affidavit Form
(Draft)
This is completed by the
CPA, CFO, or other
qualified personnel with
the company for which
you worked. One from
each company you
worked for.
Two Portfolio Options
New “Beta Test” Online Portfolio
•
3 Recommendation Forms required:
 One from a Commercial Real Estate Client
 One from CCIM (not in the same company or a relative of the
Candidate)
 One from local CCIM Chapter authorized representative
VERIFICATION AND RECOMMENDATION FORM
Chapter Recommendation Procedure
•
Candidates must send the Verification and Recommendation Form to
your chapter to complete.
•
Candidates will be asked by the Chapter Representative(s) to set up
time for a face or phone interview. This should be done in the
candidate’s work environment.
During the Interview:
• Provide a completed résumé of experience for review prior to
and during the interview.
•
Discuss your past work history in commercial real estate
•
Get familiar with the your local CCIM chapter benefits and services
Two Portfolio Options
New “Beta Test” Online Portfolio (offered through 2011):
•
Must commit to participate in the Beta Test by July 1, 2010 and pay a $100 fee.
•
Must be current with Candidate Dues as of July 30, 2010
•
Must submit the Online Portfolio by the published Portfolio deadline of July 30,
2011 for the Orlando, FL exam.
•
Updates to CCIM.com will be in place by June 1, 2010
•
Announcements to candidates with samples of forms begin on June 1, 2010
•
The Online Portfolio Submission will be available to Candidates on July 1st
What are Qualifying Activities?
Qualifying Activities are defined as:
Completed/Closed Commercial Real Estate activities
in which you materially participated within FIVE
years of the Portfolio Submittal Date.
Qualifying Activities
•
Sale/Purchase/Exchange
•
Commercial Investment Real Estate Lease
•
Commercial Real Estate Development
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Commercial Mortgage Financing of Commercial Real Estate
•
Commercial Real Estate Consulting
•
Residential Investment Real Estate
•
Active Managers of Commercial Investment Real Estate
Representatives/Agents
•
Commercial Investment Real Estate Active Advisor
•
Non-Transactional Professionals - Asset Managers/Corporate RE Exec, etc.
Non-Transactional Commercial
Professionals
NEW Category: designed for high level real estate professionals that may have
difficulty in proving material participation in transactions due to being several
layers above the brokers/agents, and/or includes certain high level duties that are
non-transactional but provide substantial contribution to commercial property.
This category includes:
•Asset Managers/Portfolio Managers
•Commercial Property Tax Consultants
•Corporate Real Estate Department – Leaders/Officers
•Large Brokerage Officers/Managers
•To be considered, you must prove 5 Years Experience at the same titled position
•Must submit a professional résumé and detailed job description
Non-Qualifying Activities
•
Apartment Management and Apartment Leasing
•
Assumption Loans
•
Construction/Building, Space Planning, Remodeling, Project Management of commercial or
investment real estate
•
Land: sales of less than four single-family unimproved lots i.e. residential land
•
Leasing of self storage units, boat slips, billboards
•
Mortgage financing on residential property of less than four units.
•
Property Management Duties
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Referral fees from any source including commercial real estate
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Secondary or underlying loans of commercial real estate
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The sale or purchase or exchange of personal residences
•
Other activities not listed here may not qualify. If you have a question on Qualification,
please contact CCIM Designation Department.
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.
Questions About Qualifications (Continued)
Question: How would Commercial Property Managers qualify?
Answer: A property manager can qualify in two ways:
1. If the person holds the CPM or RPA designation, he or she can apply
through the Fast Track Program OR
2. If the commercial property manager can document significant material
involvement in the commercial leasing of or the sale/purchase/
exchange of a qualifying commercial property, he or she may qualify.
Questions about Closing & Settlement
Question: I am working on a development or consulting project but
the transaction has not closed yet. May I submit the transaction?
Answer: Only completed activities may be submitted even in the case
of developments and consulting.
Question: I cannot retrieve the settlement documentation. May I bypass that
requirement?
Answer: All activities require some form of settlement documentation to
show completion/closing for the traditional portfolio. For online portfolio
of experience you will submit an affidavit with your transaction summary.
Frequently Asked Questions
Question: I worked on a lot of deals that are confidential in nature and I
cannot submit the required information for security reasons. What
should I do?
Answer: Adequate documentation is required to verify your activity and
material participation. CCIM keeps contents of the portfolio strictly
confidential. Portfolios are destroyed after approval.
To avoid conflicts of interest, graders do not review portfolios that are
submitted from their own state or from persons/firms with whom they
are familiar.
Contact your client for permission to disclose.
Frequently Asked Questions
Question: Why are most traditional portfolio’s disapproved?
Answer: Portfolios are generally disapproved due to:
•
Failure to show 2 proofs of transaction.
•
Failure to show candidate’s material participation.
•
Failure to include activity in the proper category.
•
Failure to submit transactions within the last five - years time
•
Failure to use a completed development or activity.
Visit CCIM.com
Visit www.ccim.com/ccim-designation for current and
updated information and requirements.
The Designation Requirements found on the CCIM
Website always supersede what is written and
distributed in the Designation Handbook or Portfolio
Workshop PowerPoint.