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IREM and Hungarian Association of Real Estate Management Sign Memorandum of Understanding


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Chicago; Oct. 5, 2010 –   The Institute of Real Estate Management (IREM)  and the Hungarian Association of Real Estate Management (HAREM) signed a memorandum of understanding (MOU) in Budapest , Hungary, on Oct. 1. The MOU reinforces the relationship established between IREM and HAREM in 1996, and recommits both organizations to further advance the profession of real estate management in their respective countries.

Speaking at a conference prior to the signing of the MOU, Mr. Dezso Keresztely, president of HAREM, reminded those present that in1990, when communism fell, there was a lack of knowledge about real estate and real estate management. “We didn’t know how to manage and were desperate for information and guidance,” he said.  “IREM gave us the support we needed and helped us build our knowledge and professionalism.” Keresztely was one of the first property managers in Hungary to go through the Certified Property Manager (CPM) education program and received his CPM designation in the late 1990s.

IREM President O. Randall Woodbury, CPM, reiterated these sentiments.  “It is important that the ties between IREM and HAREM remain in place, and that we look for ways to strengthen them even further through collaborative efforts.”  Woodbury went on to share insights into the United States real estate management market and the critical issues that are facing managers and affecting their businesses as well as the properties they oversee.


TheHungarian Association of Real Estate Management (HAREM) is one of Hungary’s largest organizations dealing with property management. Its principal aim is the conservation and rehabilitation of traditional Hungarian building stock in town centers, and stimulating a considerable increase in the number of building countrywide with professional management.

The Institute of Real Estate Management (IREM) is an international community of real estate managers across all property types dedicated to ethical business practices and maximizing the value of investment real estate. An affiliate of the National Association of Realtors, IREM has been a trusted source for knowledge, advocacy and networking for the real estate management community for more than 80 years.

IREM is the only professional real estate management association serving both the multi-family and commercial real estate sectors and has 80 U.S. chapters, 14 international chapters, and several other partnerships around the globe. Worldwide membership includes nearly 18,000 individual members and over 535 corporate members.

IREM promotes ethical real estate management practices through its credentialed membership programs, including the Certified Property Manager (CPM) designation, the Accredited Residential Manager (ARM) certification, the Accredited Commercial Manager (ACoM) certification, and the Accredited Management Organization (AMO) accreditation. These esteemed credentials certify competence and professionalism for those engaged in real estate management. IREM also offers CPM Candidate, Associate, Student, and Academic memberships. All members are bound by the strictly enforced IREM Code of Professional Ethics.

Collectively, CPM Members in the United States manage nearly $2 trillion in real estate assets, including 11.4 million residential units and 10.4 billion net square feet of commercial space. To learn more about the IREM and its chapter network, call (800) 837-0706, ext. 4650 (outside the U.S. call (312) 329-6000) or visit