Real Estate Certification

You're really talking about designations. Any significant designation is going to take more than 12 months to get, I would think. Surely you want a job before then.

As far as these things go, I think CCIM actually probably is your best bet. As you say though, it is more geared towards brokers. It is expensive, too. Alternatively you could consider ASA or MAI, but these take a lot longer to get and are more valuation/appraisal oriented. CRE carries a lot of weight but it is invite only and geared to the executive level. CFA is worthless in real estate. Instead of a designation maybe consider a certificate/Masters in real estate from somewhere like UW (I see that you are in Chicago).

Just as an aside, were you laid off from Transwestern? I know they had cuts recently. Feel free to PM me if you don't feel comfortable discussing here.

Regards.

^^Agree with this. CCIM is your best bet, but wont help much.

I am surprised you got laid off because the job outlook seems a lot better this year and a lot of groups ar under-staffed. Were there a lot of layoffs at your group or was it just you? How many yrs of exp do you have?

CFA is still the most respected, even in real estate. Though like others said, it takes time to complete and most of the lessons are not very relevant and few people have it in the industry.CCIM is for brokers. CAIA also takes time and most older people have no idea what it is. I agree that some graduate education (MBA, MSRE or graduate certificate) is the best route.

CCIM is not solely for brokers. Most of the connections I have in Chicago RE are in acquisitions or assest mgmt and several of them have the designation. It prepares you for viewing real estate as an investment and everything that may go along with it.

My advice would be CFA if you had to chose one. Since you're not working, there's plenty of time to sign up for level I in June. It's true that it's not as well know in real estate, but those that know it, respect it. The curriculum only briefly covers real estate, but it goes very deep into other useful topics (equity valuation models, derivatives, portfolio management, etc.)...just know what you're getting into...it's not easy...and passing level I won't guarantee that you'll land a job immediately. But it would still look good on your resume as something that you did while out of work.

The CCIM is also good (do both if you have the time/money). I agree with tprb52, it's not just for brokers. The curriculum focuses exclusively on real estate, but I would think you have a good grasp on most of the topics covered if you were previously in acquisitions.

The exception might be if you have the required experience for the CCIM. You're required to have a certain number/size of transactions or other qualifying activities (several different ways to qualify - see their website). Most people can get through the courses/exam, but can't get the designation because of this. So if you have the experience, you could try to fast track the program and actually get the designation. With the CFA, there's a minimum of 3 years to complete the exams (if you start in June), and you have to have 4 years of investment experience (but no deal #/size requirements).

I would look at working for a REIT possibly. They need all kinds of people in acquisitions.

Wanted to revive this thread and see if any of the regulars had input on the value of the CFA in real estate. Considering trying to tackle level 1 on June 1st as I'll have a bit of a lull before the start of the Columbia MSRED. Both my current CEO and mentor have recommended it...also may permit me to exit real estate in finance some years down the road if I wish. I think it would help narrow the gap on my resume given i'm pursuing the MSRED instead of MBA.

I'm in the middle of getting my CCIM designation. Definitely worth it just based on networking alone. Most people that tell you it won't help you don't know much about it. If your company pays for it, go get it. Plus, free trips to interesting cities.

i work in brokerage and will assume the company will not pay for it. however, i have a friend who is vp acquisitions at a boutique repe shop that is very high on the designation. helped him when he transitioned out of brokerage and into buy side analysis.

Does anyone know where I can buy second hand books and materials for CCIM? My wife is completing her MBA now, but the school does not have real estate classes. So I'm looking for other ways for her to study this on her own. Hence please let me know if you have CCIM materials that I can purchase from you.

FYI- This is all legal and covered under "fair use" the same as buying or selling a used textbook when you're in college. http://en.wikipedia.org/wiki/First-sale_doctrine "The first-sale doctrine creates a basic exception to the copyright holder's distribution right. Once the work is lawfully sold or even transferred gratuitously, the copyright owner's interest in the material object in which the copyrighted work is embodied is exhausted. The owner of the material object can then dispose of it as he sees fit. Thus, one who buys a copy of a book is entitled to resell it, rent it, give it away, or destroy it."

Does anyone know where I can buy second hand books and materials for CCIM? Is anyone willing to sell / give their old materials to me?
many thx Scott