Magazine article Journal of Property Management

IREM Foundation Adopts New Focus, Priorities

Magazine article Journal of Property Management

IREM Foundation Adopts New Focus, Priorities

Article excerpt

In the months prior to the 2007 IREM Fall Meetings, the officers for the IREM Foundation and IREM met to review and sharpen the focus of the Foundation. This work was a culmination of a strategic planning process for the Foundation that had begun in 2003, while the Institute proceeded through its own strategic planning process.

After a final briefing in August 2007, the Foundation Board of Directors adopted by unanimous resolution the following:

Updated Mission Statement

The Institute of Real Estate Management Foundation is committed to attracting and developing individuals for careers in real estate management.

1. The IREM Foundation is dedicated to partnering with the Institute of Real Estate Management to advance the real estate management industry.

2. IREM, through its strategic planning process, has identified workforce development as a significant strategic issue.

3. The IREM Foundation will support initiatives developed by IREM and delivered through its chapters in the areas of diversity, attracting new entrants, and expansion of industry knowledge.

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New Focus on Workforce Development

Recently, 2007 IREM President Bob Toothaker was interviewed by GlobeSt.com regarding the anticipated 5 to 10 year shortfall of qualified individuals in real estate management. "The Xers have expressed a perspective that doesn't embrace a profession such as property management, and since they're fewer in number, that contributes to the crisis," Toothaker said. "I think you'll see a number of those Xers, as they approach midlife, deciding to do something with more of a professional flair to it, and they may go back and get industry-specific education. Then, as we mentioned, there are military veterans and people switching careers. These are the players of tomorrow."

New Priorities for the Future

Most critical to the overall success of this partnership is the significant expansion of meaningful scholarship opportunities for the following:

* Diversity -- Expand the pool of diverse real estate managers by supporting programs targeted towards ethnicity, age and gender. …

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