IREM events identifies future management goals.

More than 600 of the nation's top real estate managers convened to help define the future agenda for the real estate management profession at a special session held during the annual Education Conference of the Institute of Real Estate Management, just concluded in Scottsdale, AZ.

IREM called upon delegates to identify and prioritize the most critical issues facing today's real estate management professionals. Technology was ranked the number one issue confronting managers of both commercial and multi-family properties, who are challenged to stay on the cutting edge of evolving technologies. Three other key strategic issues were also identified. They included development of a qualified work force, particularly in the midst of changing demographics, heightened business competition resulting in declining margins, and managing risk in a post-9/11 environment.

According to Fred Prassas, who was installed as 2006 president of IREM during the conference, "As we address these strategic priorities, IREM is committed to helping our members and our industry colleagues around the world enhance their performance on behalf of the owners and investors and other constituents they serve."

Consensus was achieved in defining specific needs underlying the four strategic issues facing the industry.

First, operational productivity and strengthening customer relationships through technology are among managers' priorities. As business pressures rise, real estate managers are looking for ways to utilize technology to create a sustainable competitive advantage.

Next, changing demographics and psychographics, as well as declining profit margins, are causing managers to focus more on attracting, developing, rewarding and retaining qualified staff. This requires finding and developing the right people for all jobs, as well as retaining them in the face of higher labor costs and competing career options.

Business competition also ranked as a high-priority issue as real estate managers deal with shrinking margins, intensifying competition and growing owner demands. They must also consistently demonstrate the worth of the value-added services they provide to their clients and employers.

Finally, an increasingly critical issue is that of managing risk in a post 9/11 environment. Real estate managers must grapple with rising insurance costs, risk management, liability changes and security concerns for both the properties they manage and the businesses they run.