How to Become a Certified Property Manager or CPM
Becoming a CPM or Certified Property Manager will greatly add to your appeal as a potential employee. A Certified Property Manager is a professional designation from the Institute of Real Estate Management, or IREM. It is also recognized by the National Association of Realtors (NAR). This designation is among the real estate industry's most prestigious and can be obtained by having several professional affiliations, taking specific courses, either online or in a classroom setting, and an exam.
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Things You'll Need
- Membership in Institute of Real Estate Management
- CPM Management Plan handbook
- Real estate license
- National Association of Realtors affiliation
- CPM application and application fee
Instructions
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Join the Institute of Real Estate Management (IREM). This will cost approximately $500 per year, as of time of publication. After joining the IREM, you must join a local IREM chapter in your city or area.
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Register for and take the necessary classes for the CPM certification. There are about 10 required courses that are given by IREM that are required to gain CPM status. The subjects include marketing, human resources, asset management, ethics and management plans. These courses are available in a classroom, online or via home study.
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Download and study the CPM Management Plan handbook. You are required to complete the IREM management plan requirements as part of the CPM credentialing process. To do so, you have two options. You can create a management plan on a real property of your choosing, following the IREM guidelines put forth in the CPM Management Plan handbook. Your plan will be assessed by IREM and you must obtain a passing score. The other option is to take a four-day Management Plan Skills Assessment (MPSAXM) course and pass the exam given at the end of the course period. The test is given either in written or electronic format.
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After taking all courses and passing the management plan section, the IREM will then examine your experience to determine your eligibility to become a certified property manager. You will need to take the CPM Certification Exam, either in a classroom or as scheduled with a local proctor.
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Attend the IREM ethics course and pass the exam given at the end of the course. This is a DVD-based course available at a variety of locations. See the Resources section for a link to the IRM education website.
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Finally, you are required to provide three professional references. These are to be confidential letters of recommendation.
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References
Resources
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