| August 3, 2007 |
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Over one-third of homebuyers in 2004 and 2005, and nearly one-fifth of homebuyers in 2006 were second-home buyers or investors. One out of ten homeowners owns a second property. That's a lot of people who could use some management help. If that's where the work is, why not try property management? "Career opportunities in real estate management are the best ever, as is indicated by recent reports from respected authorities," said Robert Toothaker, CPM®, president of the Institute of Real Estate Management (IREM). "Consider," said Toothaker:
According to Toothaker, IREM is confident that the demand for real estate managers will continue to grow due to the confluence of these two factors: (1) the unstoppable forces of demographics in the work force exacerbated by generational change, and (2) the market dynamics of real estate values as driven by new product development, interest rates, occupancy levels and cap rates. And then there's that inexperienced second-home or rental property owner. "Since so many of our colleagues are reaching retirement age in the near future," said Toothaker, "real estate owners and investors must increasingly seek replacements for these qualified professionals they need to manage their properties. All of this -- combined with a management function that is becoming more complex and sophisticated -- has created an almost 'perfect storm' that is boosting demand for real estate managers as never before. Moreover," he explains, "this applies to all classes of properties -- including commercial, residential, retail, military, governmental, educational and industrial. "For our part, we at IREM® continue to foster the highest professional standards as the industry grows by keeping our member designations program on the cutting edge of best practices," Toothaker continued. "As well, we are expanding our college connection program to attract more of the best and brightest students to careers in real estate management." IREM has developed a variety of easy-to-access resources to stimulate awareness of the increasing demand for real estate managers and of the rewards that come with careers in the field. They include:
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