Making one or any other CPM certification is indeed a great opportunity. Having one or multiple property management certifications can definitely make a difference in your ability to obtain your real estate license and also to your potential as a commercial real estate developer or owner-manager. However, being a CPM is not just a passing qualification. It requires one to have certain prerequisites and specific criteria in order to qualify for the CPM certification.
Before we get into the details on what makes CPM a good certification to get, let’s first talk about what it means. In short, CPM stands for Certified Property Management Professional. This certification is not for all property managers and is more specifically targeted to property owners and managers who have already taken up the commercial property management field. This certification is an indicator to employers that you are already qualified to handle a specific type of real property management or you might just want to pursue a career in that direction.
Before you can actually apply for CPM certification, you have to have a certain amount of training, which means that you should have at least three years of experience in the real property management field. The length of experience you need to have depends on the specific certification you are seeking. One such certification is the Certified Property Management Specialist (CPMS) certification which is especially targeted towards property managers. Another certification is the Certified Property Manager (CPM) certification that is particularly useful for commercial property owners.
In CPMS, you have to prove to the CPM institute that you are a certified real property manager or a property owner that you have acquired and managed properties. You can either do it by your own or with the help of a professional. If you have acquired the real property management certification, then you will be able to apply for the certification exam with ease and you will be allowed to take the test online. However, if you are still trying to find out whether or not CPM certification is worth it, you can just sit down and practice answering the questions that the exam questions on your own.
To get the CPM certification, there are three things that you have to do. First, you have to create a portfolio for the portfolio you create have to show how you manage properties for your clients. Second, you have to produce a written evaluation about your portfolio, including all the financial statements that are attached to it and any other documents that support that. Thirdly, you have to submit to the examination to the CPM institute. Once you submit, you will then be evaluated and given a score for each part of your portfolio.
Getting a certificate from the CPM Institute also entails getting a fee in return. The fee you pay for the fee is what determines the length of time you have to complete the certification. The longer you take the test and the more tests you take the higher your score is.
There are many organizations that offer training programs for CPMS. However, most of these organizations charge fees. You have to look around before choosing one. Most of the institutes and courses will allow you to try out their courses before you buy them. This is because they want to make sure you are qualified to get the certifications.