Ten-X (formerly Auction.com), an online marketplace for real estate, recently announced that it has formed a partnership with Certified Commercial Investment Member (CCIM) Institute.
According to the Ten-X, the partnership is designed to educate the institute’s members on how to use the Ten-X platform to market to their advantage and transact 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,” 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.”
Auction.com recently 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.
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.
“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. “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.”
The CCIM designation, or Certified Commercial Investment Member, is a recognition of elite proficiency in the practical implementation of commercial and investment real estate transactions. Awarded by CCIM Institute, the prestigious certification grants access to a network of more than 10,000 leaders in the brokerage, appraisal, investment counseling, development, lending, and real estate law industries.