Who is it for?
- Experienced property managers* who manage any asset class and want to learn how to maximize the value of their properties.
- Those who want to add advanced financial and asset management capabilities to their day-to-day operational abilities.
- Those who need knowledge that transcends asset class and serves their entire portfolio – whether commercial, residential, and/or mixed-use.
- Those needing to learn how to speak the languages of owners, tenants, residents, and investors.
- Real estate managers from anywhere, including those outside the U.S. Learn more about IREM international membership and education.
* A total of three years (36 months) of experience is needed to earn the CPM. Your experience for any given month qualifies if, during that month, you were in a real estate management position, managed a minimum portfolio, and performed a minimum number of functions.
What You Gain
The CPM will enable you to
- Make more money. The average base property manager salary in the U.S. is $48,340.2 For CPMs, the average is $118,383.1
- Go farther in your career. Over half of CPMs hold senior-level management positions.3
- Expand your network. Generate business referrals. Meet future employees or employers. And consult with other experts.
- Your annual IREM membership and all the benefits that come with it are included when you enroll.
- Showcase your credibility with a digital badge to add to your email, social media profiles, website, and more.
1 IREM Profile and Compensation Study – CPM Edition 2019
2 U.S. Department of Labor, Bureau of Labor Statistics
3 IREM Profile and Compensation Study – CPM edition: a self-reported 53% of CPMs hold Officer/Director/VP, Regional/District Manager, Owner/Partner, President/CEO/COO positions.
What you learn with CPM
- Asset analysis
- Marketing and leasing
- Leading a team
- Maintenance and operations
- Property financing
- Property valuation and cash flow
How to Earn It
Becoming a CPM takes a minimum of 12 months to complete, however on average individuals spend 18-24 months preparing for the certification.
- To start the process of earning the CPM, become a member of IREM and a CPM candidate. You will need to be a candidate for 12 months.
Complete 8 CPM certification courses; the sequence below is highly recommended.
- Ethics for the Real Estate Manager (ETH800)
- Budgeting, Cash Flow, and Reporting for Investment Real Estate (FIN402)
- Marketing and Leasing Strategies for Investment Properties (MKL410)
- Leading a Winning Property Management Team (HRS402)
- Managing Maintenance Operations and Property Risk (MNT402)
- Financing and Loan Analysis for Investment Real Estate (ASM603)
- Performance and Valuation of Investment Real Estate (ASM604)
- Asset Analysis of Investment Real Estate (ASM605)
You must pass the CPM Capstone, a two-part final assessment:
Part I: Management Plan Skills Assessment (MPSA)
- MPSA Prep: a two-day (virtual or in-person) intensive review led by an IREM instructor.
- MPSA Exam: a four-hour exam, taken within seven days after the MPSA Prep. You must score 70% or better to pass the exam.
Part II: CPM Certification Exam (CPMEXM)
- This is a four-hour, 150-question, multiple choice, open-book exam. It must be taken within 30 days after the MPSA Prep, and you must score 70% or better to pass the exam.
All CPM candidates must meet the following requirements before graduating:
- Have 36 months of qualifying real estate management experience, including appropriate portfolio requirements
- Attend at least two events with your local IREM chapter
- Become an Institute Affiliate Member of the National Association of REALTORS® if you are not currently an NAR member
Alternate ways to earn the CPM
Fast Track options are available for CPM candidates who meet certain qualifications. You’re eligible for the CPM Fast Track, if:
- You hold a CCIM, CFM, CSM, PCAM, RPA, CRRP, or SIOR designation, OR
- You have a bachelors or graduate degree with a major, minor, or concentration in real estate or property management, OR
- You have 20 years of qualifying real estate management experience as verified by the CPM Experience Form
- If you qualify for the Fast Track, you can waive 7 of the 8 CPM courses.
Learn more about the CPM Fast Track (PDF: 176 KB)
The average total cost to earn the CPM is between $7,600 and 8,600.
- $6,200 for course and exam tuition for the 8 CPM courses and the CPM Capstone
- $870 annually including CPM candidate, chapter, and NAR Institute Affiliate dues (chapter dues vary based on location)
- $695 in enrollment, graduation, and other fees
For more information, visit IREM.org/CPM.
Download IREM's CPM Fast Track Approval Form (PDF: 176 KB)