In today’s highly competitive property management industry, what’s behind your name is just as important as what experience you have. Do you have the right real estate management designations?
Adding the right credentials could help to improve your ability to secure new clients, advance your career, and provide a higher quality of service to your clients. Advancing your education does not have to be difficult, but it should be an ongoing process to ensure you always remain the most in-demand, experienced individual for the job.
What types of real estate management designations matter?
Depending on your area of focus and your career goals, it pays to select industry recognized credentials. In the property management field, the following credentials are highly recognized nationally and international for their rigorous content and requirements:
A CPM is an individual that has completed advanced property management education specifically in analytical and leadership skills and maintains membership with REIC. These individuals have more advanced and data-driven skills that allow them to make better valuation decisions for short and long-term values. They are also likely to provide services in most areas of property management including commercial, residential, industrial, institutional, and mixed-use properties. Individuals learn how to properly assess the value of a property based on the market, creating and implement policies, and how to maintain fiscal performance health.
An ARM specializes in residential site management. This includes apartment as well as government housing, student housing, and condominiums. Individuals working with this credential have exceptional skill in working to create and meet owner objectives, minimizing vacancies through strategically developed plans, and controlling property costs. They work side-by-side with the property owner to ensure a properly managed residential site.
Overall, other disciplines of real estate education help to improve an individual’s skill level for career advancement. This includes credentials in real estate sales (FRI); leasing (CLO); finance (CRU, CRF) and reserver fund planning (CRP, ARP).