I'm in the market for a real estate designation. It seems like the two main options are CCIM and CRI. CCIM is broker-focused. CRI is offered through Mortgage Bankers Association, focuses more specifically on RE ownership, investment and analysis, etc. From what I've researched, the CRI exam is no joke, covers a ton of material, and is tough to pass. That said, it's been around for roughly 10 years, hasn't been effectively marketed, and doesn't have a ton of members (I think like 200ish). All things equal, I'd choose CRI because I'm in RE lending, plan on being in RE lending/investment, and I think the knowledge I'd gain from studying up for the CRI exam would be most helpful to me. That said, I also ascribe value to name recognition for a designation, and so, the conundrum.. Any thoughts?
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I don't want to come off as impolite, but I've not heard of a single person who cares about real estate designations. It's just not something that is very important in this business, as far as I'm concerned. If anything, a CFA is pretty cool to have if you're trying to go for a high level C-Suite type of investment position, although this is obviously a very serious time and money commitment. What exactly are you hoping a designation will do for you?
No apologies necessary, I appreciate the candor. I think a designation would do a few things for me: 1) looking at the content, just studying/sitting the CRI exam would be valuable from a knowledge perspective, 2) I don't have a finance degree, and while i've been working in RE finance for several years, our lending product is esoteric, and so something like a CRI designation might make my resume more mainstream, 3) I agree a CFA would be cool, but like you said its a serious time/money commitment, and as i understand it, the CFA is about 5-10% RE related, so for the most part I think i'd be studying things I'm not so interested in/passionate about.
In short, I'm looking to beef up the resume & my knowledge base without dumping all of my resources into an MBA or MSRE.
MRICS - Member of the Royal Institution of Chartered Surveyors is a fairly significant real estate designation in the UK, Europe and Asia, however I am not sure how much weight it carries in the US though.
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