Commercial real estate’s premier professional organization aligns with the leading online real estate marketplace to teach CCIM members how to transact commercial real estate online.
CCIM Institute today announced that it has formed a strategic partnership with Ten-X (formerly Auction.com), the nation’s leading online marketplace for real estate, to educate the Institute’s members on how to leverage the Ten-X platform to market and transact commercial properties online.
“The role of technology in the real estate process represents an undeniable and necessary advancement in our industry, and we believe that Ten-X is at the leading edge of this evolution,” said 2016 CCIM Institute President Steven Moreira, CCIM. “Through our partnership, we’ll be offering sophisticated resources that will provide brokers with a distinct competitive advantage in this ever-changing industry landscape, helping them to gain greater visibility and increase their transaction volume.”
Recognizing their respective organizations’ positions as innovators in transactional real estate, CCIM Institute and Ten-X partnered to maximize the technological tools at the broker’s disposal.
“In forming a partnership with CCIM Institute, we aim to empower the thousands of CCIM members with the knowledge and tools to build their book of business and more efficiently transact commercial properties by harnessing the power of the Ten-X platform,” said Yan Khamish, managing director of Ten-X’s Brokerage Channel. “CCIM Institute is an ideal partner for us, as it offers the most robust educational offerings for commercial real estate professionals and is at the forefront of promoting the industry’s adoption of technology-based solutions that improve the commercial transaction process for brokers and their clients.”
Earlier this month, Auction.com rebranded as Ten-X, announcing plans to introduce new transaction platforms in March that will give sellers and their broker-advisers the option of choosing to transact either using an online auction or an online version of the traditional non-auction process. The rebrand reflects the company’s continued shift toward more stabilized property sales. Nearly 60 percent of the commercial properties brought to sale on the platform in 2015 were high-quality assets, including an office complex in Manhattan Beach, Calif., that sold for $96 million – the largest online transaction ever.
To date, Ten-X has facilitated $14 billion in commercial sales, with more than $300 million in commission fees paid to brokers. In total, the company’s combined residential and commercial sales have grown rapidly to account for $37 billion, with $8.5 billion in 2015 alone.
CCIM Institute and Ten-X Launch Strategic Partnership