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At IREM, lessons key to managers' growth.

At IREM, lessons key to managers' growth

For many years the New York real estate industry -- property management in particular -- was considered the stepchild of professions. Owners, developers and managers were perceived as in the business only to make a quick profit. Further, there was no set of professional standards by which industry members abided. Today, through the work of educational real estate organizations such as the Institute of Real Estate Management (IREM) the image of property management as well as the entire real estate industry has improved dramatically over the last decade.

IREM's philosophy is that true expertise in property management can only be attained through the appropriate blend of education and experience. The organization stresses the need for and advantages of continuing education in the profession and constantly updates course content to keep pace with a dynamic industry. (IREM awards the designation of Certified Property Manager (CPM) to those candidates who complete a prescribed course curriculum among other requirements.) As a result of this academic preparation, property managers greatly enhance their reputations as true professionals as well as their value to the owners of the properties they manage.

IREM has also helped to solve problems stemming from a lack of communication within the profession by developing a peer exchange forum and mentor programs resulting in an open dialogue about management issues. In fact, a manager's most creative ideas for managing a property and developing solutions for problems often evolve from discussions with fellow CPMs.

IREM has also helped improve the image of the real estate community in the sensitive area of ethics. In the past, the real estate industry's reputation suffered because some owners, developers and managers alike indulged in questionable or unethical practices. In response to this problem, IREM established a Code of Professional Ethics to serve as a CPM guideline for professionalism in all business activities. The code is continually monitored by CPMs who sit on local and national committees on ethics and professional standards. IREM further emphasizes the vital aspect of professional responsibility by offering a course entitled "Ethics in Real Estate Management." This course is required for all CPM candidates and encouraged for all other real estate professionals to strengthen their insights into their professional responsibilities.

Finally, IREM has helped to change the perception of real estate as a male-dominated industry. IREM encourages female CPMs to actively participate in the field by taking key positions within the organization as well as in their businesses. IREM also strives to increase the visibility of women in the industry by inviting leading female real estate professionals to speak at luncheons and other symposia.

IREM will continue its mandate of professional development in the real estate industry by setting even greater goals and standards through its local and national offices.

Michael J. Martino, "CPM" IREM President Greater New York Chapter No. 26 Director, Housing Portfolio New York State Housing Finance Agency
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Title Annotation:Special Supplement: Career Enhancement; Institute of Real Estate Management
Author:Martino, Michael J.
Publication:Real Estate Weekly
Date:Aug 14, 1991
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