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The CCIM designation was originally established by the California Association of Realtors in 1954 under the name Certified Property Exchanger (CPE).]. [5] A CCIM is a resource to the commercial real estate owner, investor, and user, and is among a corps of over 9,500 professionals around the globe who hold the CCIM designation.
The property owner in this case signs a property management agreement with the company, giving the latter the right to let it out to new tenants and collect rent. The owners don't usually even know who the tenants are. The property management company usually keeps 10-15% of the rent amount and shares the rest with the property owner.
The DRE was founded in 1917, when the California legislature enacted the nation’s first real estate law. In July 2013, the department briefly merged with the California Department of Consumer Affairs as the Bureau of Real Estate. In January 2018, through Senate Bill 172, it again became an independent department. [3]
An affiliate of the National Association of Realtors, the IREM is made up of real estate management professionals, and is the only organization serving both the multifamily and commercial sectors. The Institute of Real Estate Management has different tiers of membership.
The Building Owners and Managers Association (BOMA International) is a trade organization founded in 1907 for commercial real estate professionals. [2] Its mission is to advance the performance of commercial real estate through advocacy, promoting professional competency, standards and research.
A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region. [2]
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