IREM CPM
Anyone have experience they could share on the value, or lack of value, in obtaining a CPM designation? I would be interested to hear about how it may have improved your career. Essentially, is the view worth the climb?
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I mean if you want to be a property manager then go for it, but if you're looking for roles in acquisitions or development it will be a colossal waste of resources. It could help with Asset Management, but not needed.
Agree with above, this is basically pointless unless you want to be a property manager. They have some finance/valuation oriented courses in the program but I think it's all pretty expensive.
On the flip side, if you're going to be one of the decision makers at a boutique company with only a few key guys, or running your own company, it could be very useful. All properties need some degree of management and you're either going to have to do that in-house or hire someone, either way, you're going to need to know what to look for when hiring/managing that function.
Understanding what to look for when hiring/managing is exactly where I see potential for value. Operate in a family run commercial development business. We all wear many hats while overseeing 4M SF of commercial space and >130 tenants (a lot of whom are Fortune 100 credit).
The CPM designation seems to be highly regarded within the IREM circles but I'm interested to see what unbiased opinions have to say.
I was in property management before I moved to acquisitions, and looked at the designation more than once. I thought the cost was pretty heavy and have met a bunch of managers who have the credential who are completely incompetent.
Training under someone who knows the management side of the biz well is going to be the best way to learn always. CPM could help you but I wouldn't do it unless you don't have access to anyone solid internally. Could be a way to add value if you use it to become the go-to guy in charge of mgmt (in addition to the other hats you wear). Question is, do you want to be the go-to guy in charge of mgmt?
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