In commercial real estate, there are certain credentials that stand out. The Certified Commercial Investment Member (CCIM) designation is one such mark of distinction, held by a select group of professionals who have received extensive education in the complexities of commercial real estate investment. In North Dakota, only 16 individuals have earned this prestigious title, and Justin Gustofson of Property Resources Group is one of them.
In this article, we talk with Gustofson about what it means to be a CCIM and explore the unique insights and experiences that Gustofson brings to the table as a leading commercial realtor in the region.
Q: What motivated you to pursue the CCIM designation?
A: For me, I knew early on in my career that obtaining my CCIM was high on my list of what I wanted to get completed. By earning the designation, there are a handful of benefits. For me, I wanted to further my education and have industry recognition across the United States.
Q: Can you walk us through your journey toward earning the CCIM designation? How long did it take?
A: Earning the CCIM designation is not a quick and simple process. They have an extensive educational component, a portfolio requirement, and an in-person comprehensive exam. The educational piece consisted of four week-long in-person classes, which I traveled to Minneapolis (twice), Tulsa, and Denver for. The portfolio requirement consists of providing proof of involvement in working on exactly ten qualifying activities equaling $10 million or more within a given time period. Upon the board’s review, you are then able to take the comprehensive exam which they offer two times per year. I successfully passed my exam in April of 2023.
Q: How did the CCIM program impact your career trajectory in commercial real estate?
A: For me, the educational component and the professional network have proven to be successful for me. Investing in my education and obtaining my CCIM not only helps me understand the ins and outs of deals better but it also helps bring light to new opportunities for my clients.
Q: What specific skills or knowledge did you gain from the CCIM coursework that you find most valuable in your day-to-day work?
A: Oh gosh, I feel that there are bits and pieces of all the different courses that get applied to my everyday work. Whether it’s composing market data and research for a client, working on site selection, or someone looking for their next investment.
What is a CCIM?
A CCIM (Certified Commercial Investment Member) is a professional designation awarded by the CCIM Institute, a global community of commercial real estate professionals. The CCIM designation is recognized as a mark of expertise and professionalism in the field of commercial real estate investment.
To earn the CCIM designation, candidates must complete a rigorous curriculum that includes coursework in financial analysis, market analysis, user decision analysis, and investment analysis for commercial real estate. Additionally, candidates must demonstrate a significant level of experience in commercial real estate transactions and pass a comprehensive final exam.
Q: How does having a CCIM designation differentiate you from other commercial REALTORS® without it?
A: The main thing that differentiates having a CCIM designation is the industry recognition. Most people don’t know that there is not a separate license for commercial other than the Residential Salesperson test from the state. Having the designation shows that you are fully invested and educated in the commercial real estate industry.
Q: How do clients and colleagues perceive the CCIM designation in the commercial real estate industry?
A: I have noticed an increase in transactions with brokers from out of state on a referral basis. Being able to connect with people in other markets and having a level of trust knowing that they went through the same process to obtain their designation opens up many opportunities which in turn benefits my clients.
Q: What advice would you give to other commercial realtors considering the CCIM designation in terms of enhancing their reputation?
A: I am happy to talk with anyone who is interested in pursuing the designation. In fact, you don’t have to be a broker in order to get the designation so long as you are in the industry some of the other qualifying jobs are asset management, banking, development, law, accounting, and property management. Personally, I believe the more people that we get educated benefits our market as a whole.
Contact Justin Gustofson
Office: 701-356-8888
Direct: 701-499-3875
[email protected]
4609 33rd Avenue South, Suite 400
Fargo, ND 58104
