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What Is a CPM® Designation, and 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.

Benefits of Becoming a CPM®

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®

  • Ethics
  • Asset analysis
  • Accounting
  • Marketing and leasing
  • Leading a team
  • Maintenance and operations
  • Property financing
  • Property valuation and cash flow

Learn about the CPM® certification courses

How to Earn the CPM® Designation

Becoming a CPM® takes a minimum of 12 months to complete, however on average individuals spend 18-24 months preparing for the certification.

Enrollment

  • 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.

Education

Complete 8 CPM® certification courses; the sequence below is highly recommended.

Exam

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.

Learn more about the assessment.

Other requirements

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® Designation

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 Trackpdf (PDF: 176 KB)

Costs

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 Formpdf (PDF: 176 KB)

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