You’ll pay the same commission to a commercial real estate advisor regardless of their experience or education. National endorsements make a difference in the quality of your advisor- and the speed and integrity of your transaction.
Decoding the Alphabet Soup
The CCIM and SIOR endorsements are industry standards to show education, experience and expertise in commercial real estate (CRE).
But, a commercial real estate advisor doesn’t have to achieve the CCIM and SIOR designations. In fact, anyone with a real estate license can sell commercial real estate. Since commercial real estate sales usually come with bigger price tags, greater risk and more legal headaches than a typical residential sale, an experienced CRE broker is the key to a successful transaction.
The CCIM and SIOR designations are meant to distinguish agents who are committed to, and specialize in, commercial real estate.
Held by less than 3,500 people nationwide, the SIOR designation requires a strong history in commercial real estate- and maintaining an annual performance goal to keep the designation.
Matt Mellott, Sterling CRE principal, is one of five SIOR designees in the state of Montana and the only SIOR designee in Missoula. Sterling CRE values constant improvement and Mellott recognized the SIOR designation as the next level of professional expertise.
“With no other SIOR members in Missoula, I wanted to close that gap,” Mellott said. “It was a leap of faith, taking on the SIOR endorsement process while Sterling was rapidly growing. But the value this brings to our clients, the national exposure and network, made it worth the effort.”
Similar to a CCIM, educational requirements precede the SIOR designation. However, successful SIOR candidates must also receive formal endorsements by two active SIOR members outside of their company. In addition, successful SIOR designees must meet annual fee production requirements- as well as a specified number of transactions in each year.
Trained in ethics, negotiation, and financial analysis, CCIMs submit an extensive transaction history to demonstrate the quality of their work. Two – five years of experience in commercial real estate is required. A successful CCIM candidate must also complete a full day comprehensive exam.
In Montana, only 23 brokers hold the CCIM designation- less than one percent of all realtors statewide. Montana CCIMs provide investors with sophisticated, expert advice on commercial real estate decisions.
Sterling CRE proudly hosts two of Montana’s CCIM designated brokers. Claire Matten, Sterling CRE broker, is leading the way, as one of a handful of women in the state to hold the CCIM designation.
Contact Matt Mellott, CCIM, SIOR and Claire Matten, CCIM, for expert advice on your property. The Sterling CRE team has specialists in all commercial real estate types, including industrial, office, land, retail, medical and special purpose projects.