In the real estate industry, several professional designations can be awarded to real estate professionals. These professional designations provide real estate professionals with the knowledge and expertise necessary to excel in their particular field. The most known certification for real estate agents is the Realtor® designation provided by the National Association of Realtors® (NAR), but property managers have their own professional designation type.
Real property administrator® is the professional designation for property managers. This designation is provided by the Building Owners and Managers Association (BOMA) International, a nonprofit institute created for management programs that educate managers of property and facilities.
It’s important to note that another professional designation for property managers, the Certified Property Manager (CPM), is for those dealing with all types of property.
As a property manager who administers commercial buildings, you mightbe interested in expanding your knowledge of the field, enhance your standing in the industry, get access to more prominent clients and, of course, maximize your net income. Through the real property administrator® designation, a property manager can position themselves for long-time success.
Through the real property administrator® designation program, property managers can have access, insight and knowledge about administering a commercial building. Office buildings are generally ran by property managers who will understand the diverse aspects of property management through this program and learn to analyze all commercial building facets. The applicants will learn risk management, budgeting and accounting for real estate offices, and best bidding practices. The program also provides knowledge for leasing and marketing offices, selecting the best contract providers, and managing the building from an owner’s perspective.
This designation is specifically designed for property managers, so if you’re a property manager and want to advance in your career, the Building Owners and Managers Association International can provide you with the necessary tools.
To apply for the real property administrator® designation program, a property manager, assistant property managers, or other real estate professionals who manage assets must have at least three years of experience managing commercial real estate. The whole list can be found on the Building Owners and Managers Institute website.
Once all the requirements aremet, the designation asks to fulfill at least eight required courses (online or in a classroom) during the maximum seven years for designation or three years for certification. The program duration depends on the applicant’s schedule and abilities to complete the courses.