In today’s real estate management industry, the IREM® Certified Property Manager® (CPM) designation has become synonymous with knowledge to maximize the value of any property in any asset class. Not only that, but according to the IREM Profile and Compensation Study, CPMs have the potential to make over 2x more than the average property manager salary.
Combine that with two of IREM’s core values – leadership and knowledge sharing – and the importance of investing in the next generation of real estate management professionals is clear. The IREM Next Gen CPM Leaders program does exactly that.
Over 80 members have already taken part in this talent management initiative, which fast tracks members through the CPM program at a savings of more than 50% on tuition and registrations, along with leadership training throughout the program. Many of these members have gone on to assume leadership positions - both at their companies and through volunteering with their local chapters, and on IREM’s national boards and committees.
With applications now open for the 7th group of Next Gen CPM Leaders, we wanted to catch up with one of the participants from the inaugural group of 2017-2018. We spoke with Megan Druding, CPM, to learn about her experience in the program, and hear how her CPM education and involvement with IREM has helped her succeed.
At the start of the program, Megan was working as a General Manager for Cushman & Wakefield in their Phoenix, AZ market. Since completing the program, she’s been promoted twice, and currently serves as Managing Director for Cushman & Wakefield Asset Services in the Greater Salt Lake City and Boise markets. The Next Gen CPM Leaders program was actually Megan’s first introduction to IREM, and she was nominated for the program by her employer, Cushman & Wakefield. She now shares that “having IREM as a resource is incredible. It’s created the opportunity to have local resource at hand, which was helpful when moving to a new market and joining the local chapter.”
Megan’s goal wasn’t always to become Managing Director. “At one point in time I said, ‘I never want to be the Managing Director.’ I thought, ‘I don’t think I could deal with everything that person deals with.’” She soon realized that not every manager has to deal with situations in the same way. She began to “look for ways that [she] could manage [her] teams to see them thrive and be successful in their roles. The CPM program helped me be prepared to have the crucial conversations that we’ve had to have over the last couple of years on the people side of operations.”
Prior to earning her CPM, Megan noted that being a younger professional in the industry often presented its own challenges. However, completing the course work and graduating from the program, “has set me up a little higher in terms of ‘years of experience’. It shows that I’ve invested in myself, education-wise.” She added, “this program is molding the property managers that I’m hopefully going to hire one day.”
About the Next Gen CPM Leaders program, Megan shared: “I thought I’d be going in, going to class, working after-hours, and then waking up and doing the same thing the next day. But at the end of the day, the relationships I developed were the added benefit that I had no idea would come along with this program.” Multiple members of her group developed a tight bond, keep in touch on social media, celebrate each other’s victories, and even send cards during the holiday season. “No matter how much time has passed, we can still pick up right where we left off.”
Megan’s advice for anyone considering being a part of the Next Gen CPM Leaders initiative: “Dive in. Don’t be nervous, and fully embrace it. You’re not going to be mad that you did it.”
Even though Megan is removed from some of the day-to-day property operations, she still loves being a part of the real estate management industry and sees the Next Gen CPM Leaders program as a “great way to invest in and develop our future leaders.” When she looks back at where the other members of her group were then, and how much they’ve accomplished since then, she says it’s “truly impressive; they’re all rockstars.”