Professional Real Estate Designations

I have noticed the string of initials after your name. What do the initials mean? Should we only work with a real estate professional with designations?

While it is not necessary to have these designations for a broker to be a true professional, they almost guarantee that he or she is one. All of the professional designations that I have represent a very rigorous course of study, exams, and usually a demonstration of many years of experience and volume.

The Master of Corporate Real Estate (MCR) is granted by Corenet International, a worldwide organization of corporate real estate executives. The coursework has a strong financial component, which emphasizes the critical need for understanding corporate real estate’s linkage to the corporate bottom line. Strategic approaches are presented in portfolio management, aligning real estate to business strategy, outsourcing and partnering, technology and workplace strategy. To complete the MCR designation I took 100 hours of classroom instruction and five exams, followed by a one-week long “capstone” course given at MIT.

A Certified Commercial Investment Member (CCIM) is a recognized expert in the disciplines of commercial and investment property. The CCIM curriculum consists of four core courses (160 hours of instruction) that incorporate the essential CCIM skill sets: financial analysis, market analysis, user decision analysis, and investment analysis for commercial investment real estate. Additional curriculum requirements may be completed through CCIM elective courses, transfer credit for graduate education or professional recognition, and qualifying non-CCIM education. Following the course work, candidates must submit a resume of closed transactions and/or consultations showing a depth of experience in the commercial investment field (mine was nearly 2 inches thick and demonstrated with executive summaries and a case study over $30 million in property transactions.) After fulfilling these requirements, candidates must successfully complete a comprehensive, day-long examination to earn the CCIM designation. Only 6 percent of the estimated 125,000 commercial practitioners nationwide hold the CCIM designation.

The SIOR designation is certified by the The Society of Industrial and Office REALTORS,© the leading professional commercial and industrial REALTORS,© association. SIOR has certified almost 2,500 practitioners (again, a very small percentage of the total practitioners nationwide) with the prestigious SIOR designation, a professional symbol of the highest level of knowledge, production, and ethics in the real estate industry. This designation also requires rigorous course work, as well as a demonstrated volume of business. Last year, SIOR members reported an average per person dollar volume of $25.7 million.

Are you working with a true professional? One way that you know for sure is his or her attainment of professional designations, attesting to both their commitment to professional education, as well as the very highest levels of performance in the commercial real estate industry.

Choosing the Perfect Home for You

Purchasing a new home is an exciting process. At the same time, it can be a bit overwhelming and confusing as you try to determine precisely what you need in your home. After all, you will be investing a great deal of money into your home and you certainly want to be sure you care happy with the purchase.Determining Your BudgetThe first thing you need to decide when you begin house shopping is your budget. You will need to take a look at your current income versus your current bills in order to determine how much you can afford. Many house hunters prefer to get pre-qualified for a loan before they begin searching for a new home. This way, they can have a much clearer idea of what they can afford to pay. Getting pre-qualified also makes the official qualification process much easier when the time comes to make a purchase.Selecting the Style and AgeThere are many different styles of homes to select from. For example, you need to decide if you want a single-story ranch home, a two story home or a multi-level home. You also need to determine whether you want townhome, a patio home, or even a condominium.

Even the age of the home is an important consideration. While a newer home may have fewer problems and may offer a modern look, you might prefer the styling and charm of an older home.Dallas modern furniture

Getting the Right Features

When selecting the type of home you want, you need to determine the features you want the home to have. Much of this decision will be based upon your lifestyle and the number of people in your family. Be certain to consider your future needs. For example, if you are a couple that is just starting out but plans to have two children in the near future, you might want to purchase a home that will accommodate your future family needs.

In order to make sure your family is comfortable and happy in the home, you should make sure it has plenty of bedrooms and bathrooms to suit your needs. If you have a home based business or bring work home on a regular basis, you might also want to purchase a home with a study or an office. A formal dining room might be important to you if you make it a point to eat together as a family. Similarly, a family room is essential for entertaining and for spending time together as a family.

In addition to the inside of the home, you should consider the outside as well. While a nicely landscaped home will cost more than one that is not landscaped, it will save you the trouble of doing the work yourself. So, unless you prefer to get your hands dirty and do your own landscaping, look for a home that is already nicely landscaped but requires minimal maintenance.

Other features to consider include:

• Attractive views
• Privacy
• A Large Lot
• Pools
• Gourmet Kitchens
• Oversized Garages

Each of these extras will generally drive up the price on the home. Therefore, you need to decide if they are “musts” or if they are features that you can do without.

Once you have decided on the type of home you are looking for, make sure to discuss it with your Realtor. The better idea your Realtor has of what you want, the faster the house hunting process can be completed.

Crystal Guthrie is a top producing Realtor in the Austin Texas Real Estate market. She specializes in West Austin Homes including the Seven Oaks Austin community.

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