Magazine article Journal of Property Management

Why Growth Is Essential

Magazine article Journal of Property Management

Why Growth Is Essential

Article excerpt

Those of us who hold the Institute's prestigious credentials share a distinct advantage in the real estate industry that documents our professionalism and, indeed, enhances our income. This advantage must continue to be offered to others in real estate management so the standards of our profession continue to rise and so the CPM, ARM and AMO credentials are increasingly recognized within the industry.

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To this end, our organization has adopted a strategic goal of 10 percent membership growth by the end of 2006. To help us realize this goal, we have launched an aggressive, three-year membership recruitment and retention campaign, with the objective of achieving three percent membership growth in 2004.

Some of our members have been asking why the Institute needs to grow. They have suggested we may be better off as a small, exclusive organization of real estate managers. Actually, IREM membership must grow, particularly within the ranks of our CPM, ARM and AMO designees.

Why? The average age of our members today is 48. This means we'll begin to experience a dramatic rise in retirements in the next five to seven years (a situation affecting many other membership organizations). These retires must be replaced with new members if we are to sustain and increase IREM programs and benefits.

Holding our own, though, is not good enough. Given continuous change in our industry, we must increase awareness among owners, investors and employers of the value-added services we provide. …

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