What does the future hold for the CCIM Institute and commercial real estate in general? In a recent interview with Above, Re/Max’s quarterly magazine, 2013 CCIM Institute President Wayne D’Amico, CCIM, shares his perspective on major industry challenges as well as his vision for the Institute.
The most pressing issue facing brokers is the impact of distressed assets coming to market, according to D’Amico. “To put it into context, there’s $1.4 trillion to $1.7 trillion in commercial loans coming due in the next three to five years,” he explains. “With values being so depressed — as much as 10 percent to 50 percent in some markets — this huge resetting of debt is going to play an integral role in our business.”
Success in commercial real estate, whether in the U.S. or abroad, is built on networking, D’Amico says. “It all comes down to relationships,” he explains. “Partner with people who have a strong track record in certain product types and geographies….” He notes that the CCIM Institute, with designees in more than 35 countries, is positioned to help commercial real estate professionals build that network.
About the CCIM Institute
Since 1969, the Chicago-based CCIM Institute has conferred the Certified Commercial Investment Member (CCIM) designation to commercial real estate and allied professionals through an extensive curriculum of 200 classroom hours and professional experiential requirements. The CCIM curriculum was redesigned in 2010 to reflect changing student demographics and real estate brokerage services, growth in international markets, new technologies, and new delivery models. The core curriculum addresses financial analysis, market analysis, user decision analysis, investment analysis, and negotiation — the cornerstones of commercial investment real estate.