Have you ever thought about dabbling in real estate before? Do you have the drive and the passion to become a property manager? If the answer is yes on both accounts, perhaps it’s time you consider taking a career in Property Management and becoming a CPM.
What Is a CPM?
In real estate terms, CPM stands for Certified Property Management. This title is usually given to experienced property managers who have a background in managing assets and have the knowledge of maximizing the value of any type of property. As a result, title holders have more potential to do more and earn more. In the US, CPMs can earn up to two times the average salary of a property manager.
Who Is the CPM For?
Earning the title of a Certified Property Manager takes time, effort, and dedication. While interested parties can easily apply, it’s best suited for individuals with a background in real estate who want to learn more about managing any asset class and maximizing property values.
That said, if you seek to upskill by adding advanced asset and financial management capabilities to your daily operations, enhance your portfolio (whether it be in commercial, residential, or a combination of both), and gain knowledge that transcends the asset class, the CPM is a certification you need to boost your career in real estate.
Besides giving you credibility in the industry, you can also learn to speak the language of owners, residents, tenants, and investors to increase your chances of succeeding.
How To Become a CPM
Before you can apply, however, you will need to obtain a total of three years (or 36 months) of real estate experience to earn your CPM title. The experience only counts if you’ve been in a real estate management position, performed the minimum functions or property management services, or managed a portfolio. If you meet these standards, then you can apply and earn your CPM.
The process for obtaining your CPM can be divided into four steps: enrolling, learning, testing, and graduating.
Enrolling
The first step to becoming a member of the Institute of Real Estate Management (IREM) and obtaining a CPM is enrollment. Simply complete an online form and pay the enrollment fee to start your journey to becoming a CPM candidate.
Learning
After enrollment, you’ll become a CPM candidate for 12 to 18 months. During these months, you will enter the learning phase of your journey where you will need to complete eight courses.
These courses cover the core competencies specific to property management. To learn more about what these courses entail, below are some highlights you can familiarize yourself with.
This course teaches you how to respond to specific ethical challenges that may have a major impact on your reputation and the success of your business. But contrary to popular belief, being ethical in the field of real estate is more than just following a set of laws. It’s also meeting the standards and real-life expectations of the profession.
Through this course, you can learn to understand and resolve ethical dilemmas by developing sound strategies and implementing them in your career.
Want to know how to maximize the potential of your property’s financial future? Well, look no further. In this co