By Teresa King Kinney, CEO, Realtor Association of Greater Miami and The Beaches
The vast majority of real estate professionals focus on the residential market, but knowledge and expertise in real estate investment is essential for today’s professional, especially here in South Florida. The international backgrounds and connections of our South Florida clients and customers are strongly relationship-based, which creates a number of opportunities for both residential and commercial real estate professionals to exchange lucrative referrals within our own market locally and beyond.
Agents interested in expanding their business to include more real estate investment and commercial business or referrals should participate in commercial seminars, designation courses and events. This will help you to familiarize yourself with the market, gain specialized knowledge and establish important contacts for more business and referrals. Residential agents who take the time and effort to educate themselves on commercial and investment real estate can be invaluable to residential clients who are also interested in all types of real estate investment. Many commercial educational opportunities involve essential information and expertise on real estate investment, which is equally important to both residential and commercial agents.
Commercial market surge
The commercial real estate market is expected to remain strong during the coming year. According to the National Association of Realtors (NAR), the Commercial Leading Indicator for Brokerage Activity, a leading indicator for the commercial real estate market, shows improvement in commercial sectors will continue into 2007. In South Florida, the industrial market continues to gain strength with rising rents and lowering vacancies to below 6 percent.
Increase your profitability through commercial and investment referrals. Expand your expertise and your referral contacts through participation in local commercial and investment seminars and events. Attending seminars helps you to learn more about all types of investment opportunities, financial aspects of investing and position yourself to better serve your clients.
Commercial education and events
More real estate professionals are realizing the benefits of being connected with commercial and investment real estate. This year alone, more than 2,000 participants have attended specialized commercial seminars, courses, and events presented by the Realtor Association of Greater Miami and the Beaches (RAMB).
A Certified Commercial Investment Member (CCIM) is a recognized expert in the disciplines of commercial and investment real estate. The CCIM education program is the most comprehensive educational resource in commercial investment real estate. It represents the core knowledge expected of commercial investment real estate practitioners. The curriculum incorporates the essential CCIM skill set: financial analysis, market analysis, user decision analysis and investment analysis. Professionals from all areas of commercial and investment real estate attend CCIM courses.
The Realtors Commercial Alliance of Greater Miami and the Beaches (RCA) has more than 1,100 professional members specializing in the commercial and investment real estate market, in addition to more than 12,000 residential professionals.
Commercial & Investment Conference and Expo
RAMB’s RCA will host the next annual Commercial & Investment Real Estate Conference and Expo on Oct. 5, 2006 at the Sheraton Miami Mart. More than 500 industry professionals are expected to attend. The conference includes sessions on commercial and investment real estate, workshops and the expo. For more information about this event, e-mail loliver@miamire.com.
RAMB also offers the following CCIM courses this year in Miami:
CI Introduction, CI 102 and CI 101
• Sept. 14 and 15—Introduction to Commercial Investment Real Estate Analysis
• Nov. 6 to 10—Market Analysis for Commercial Investment Real Estate
• Dec. 4 to 8—Financial Analysis for Commercial Investment Real Estate Additional Commercial Courses from RAMB this year:
• Oct. 11 and 12—Income Property Analysis (Chip Meyers)
• Oct. 13—Triangle of Sales Success (Commercial) (Frank Meyers)
• Oct. 18—Commercial RE Investment & Development Analysis (Neil Osborne)
• Oct. 18—Applied RE Investment and Development Analysis (Advanced) (Osborne)
• Dec. 13—Achieving Financial Independence
The 12,500-member Realtor Association of Greater Miami and the Beaches (RAMB) includes the Residential Association, Realtors Commercial Alliance and the largest local International Real Estate Council in the nation. RAMB has been serving the industry, public and community for 85 years.