Five Reasons Why You Should Pursue Designations
By Mike Spears, SIOR, CCIM, Managing Principal, Lee & Associates – Houston
There are jobs and then there are careers. If you’re going to treat your profession of a broker as a job, then you should pursue a different career. Most pursuing a career will find various ways to excel and advance because it’s worth more than a commission, it’s about becoming a trusted adviser. Part of advancing is gaining certifications through higher-end training and obtaining designations.
Pursuing designations provides brokers with the opportunity to enhance their careers by ranking amongst the world’s top commercial real estate professionals in any market. These designations specify skills and expertise that have been acquired through additional training and experience. Obtaining multiple designations is a good way to stay up to date within the industry and be able to offer the best professional advice to your clients. There are different types of designations offered and can be pursued at any time regardless of years in the industry.
Here are four reasons why you should consider obtaining designations.
- Improves Skills: Your knowledge and professional skillset will expand with each designation earned. Such skills look great on your resume and can aid in the expansion of your portfolio. Earning designations like Certified Commercial Investment Member (CCIM) or the Society of Industrial and Office Realtors (SIOR) require the completion of an education component, which further equip brokers with tools for negotiation training, analyzing the market and financials, ethics and more. Brokers can apply the higher-level analysis learned to contract evaluations and secure transactions the average person won’t understand. The intensive and extensive amount of training is unmatched and serves as a huge advantage over the course of your career.
- Builds Credibility: Professionals within the commercial real estate industry and clients alike hold brokers to a higher ethical standard than normal by having designations. Clients have a greater confidence in you as an expert in your sector because they know you’ve received extensive training and are more than qualified to advise on transactions. Brokers who pursue their CCIM designation are recognized as leading experts in commercial investment real estate. As an SIOR designee, you’re required to produce a minimum of $500,000 per year for three straight years, thus meeting the financial quota of a productive broker.
- Networking Opportunities: Good old-fashioned networking is vital to a broker’s career. While obtaining new designations, you will have opportunities to meet other ambitious industry leaders and cultivate a professional network. These connections may prove to be extremely valuable in your future endeavors. You have the chance to network with professionals who embody the same business acumen, which makes it extremely valuable. You also may meet prospective clients or make connections who introduce referrals or present offers you never would have had otherwise. The more networking opportunities, the better!
- Maximizes Earnings: Designees are known to earn more throughout their career because they have deeper knowledge and more experience to bring to the table. Being a well-rounded expert will pay off for you in the end. Each acquired skill will lead to mastery, and you can only go up from there! Whether a broker wants to be an expert in many areas or just hone-in to one, their ability to provide quality results will lead to high earnings. The designation after your name is similar to certified accountants with Certified Public Accountants (CPA) after their name. According to the Chron.com, CPAs make 10 to 15% higher income than an accountant who is not certified. Clients want a qualified broker and are often willing to pay a premium for the best in the industry.
Business owners want to know they are hiring the best in the industry, whether it’s an employee or a third-party consultant. People look for accreditations and will most likely choose the broker with one given the choice. Having designations adds to your credibility and opens doors to a lifetime of networking opportunities. You will grow as an industry expert and maximize your earning potential. Your professional reputation will be strengthened while referrals from current and past clients will come naturally. Pursuing designations is guaranteed to make positive impacts on your career, regardless of how much experience you may already have.
Learn more about commercial real estate services at Lee & Associates – Houston.
Lee & Associates – Houston is a fully-integrated commercial real estate company specializing in office, industrial and land real estate investments. As the fastest-growing broker-owned firm in the nation, with more than 60 office locations in North America, Lee & Associates’ supports real estate needs in the local, national and international markets.
Find the original article at bizjournals.com