Online real estate marketplace Ten-X (formerly Auction.com) has formed a strategic partnership with CCIM Institute to educate the institute’s members on how to leverage the Ten-X platform to market and manage commercial properties online.
“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,” says 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,” Khamish adds.
Auction.com rebranded as Ten-X earlier this month and announced plans to introduce new transaction platforms 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.
According to Ten-X, the rebrand reflects the company’s continued shift toward more stabilized property sales. Nearly 60% 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.
The CCIM Institute offers a rigorous curriculum with experiential requirements to acquire the CCIM designation, which is short for Certified Commercial Investment Member – recognition of elite proficiency in the practical implementation of commercial and investment real estate transactions.