The designation was created to recognize and reward those individuals who play a key role in the real estate market. It was first used in the United Kingdom and the United States for property accountants, but in recent years it has become more widely accepted. In fact, 70 percent of those that hold the CPM designation hold the highest managerial positions at their companies (manager, owner/partner, director or senior manager).
Today, there are many certified property managers available in the market who have earned the designation. These certified CPMs often have experience in different industries and are highly qualified in managing all sorts of real estate properties and assets.
When taking the property management exam, it is essential to understand that it is not an easy task. For a large part, it is not a test, but a very challenging application of real world experience. Because of this, most certified CPMs (like myself) would not take the test lightly, because it is a test that is not just about your knowledge, but your ability to communicate your ideas and know your way around a project.
Many real estate professionals have taken the certified property management designation without much trouble. Some of them were certified in the CPM designation in their previous careers, while others got it simply by holding a senior position.
If you are considering taking the property management certification test, there are a number of things you should keep in mind. You must realize that passing this certification is no walk in the park. It requires a lot of hard work and effort on your part. That being said, you must be ready and willing to learn from the experience you gain while working with a property manager in order to come out the better property manager.
I believe the best way to prepare yourself is by doing some research into what types of questions can be asked on the certified property management exam. You will want to read up about the real estate industry as well as any type of real estate investing books you can find. There is a wealth of information out there on the subject, including how to write the actual test, as well as finding great resources such as real estate investing forums and/or websites where you can find the best realtor-specific resources available.
If you are prepared, you will be able to pass the real estate management certification test in a relatively short period of time. And that’s exactly what makes the real estate investment investing profession so valuable – learning how to manage properties without putting in all the effort.
The best way to start preparing for the property manager certification exam is to take a look at some of the tips offered on various websites and real estate investor forums. While it is true that there are no shortage of scam artists out there that will try and scam you, there are also some very good resources out there for the serious investor. These resources can help you get more information about the real estate industry, the Certified Property Manager designation, and even some tips for preparing for the actual test.
Once you have done your research, you will know how to approach the Certified Property Manager exam. One important part of the exam, which I recommend doing, is reviewing the questions so that you are well prepared.
While it might seem daunting, answering the questions in the real estate investing forum or other resources will give you an idea of what questions are on the real estate management certification exam. The reason for this is that when they ask questions on the test, they are actually looking to see if you are prepared to answer them. Most people that take the test will not know what the questions are, and will either get very frustrated or give up too soon. In either case, you need to be prepared.
There are some people in the real estate industry who think it is not important to be prepared for the exam, but that is actually not true. As with anything else, the more prepared you are, the better you will do.