Commercial property management growing in popularity

Property management is among the happiest professions in the country.

In today's market, more people are opting to pursue commercial real estate management than ever before. Whereas, in the past, people entering the industry overwhelmingly tended toward becoming commercial real estate brokers or agents, the more stable environment of management has increasingly become a career path for talented people joining the industry.

The growth in property management can also be seen in the number of commercial brokerages across the country that are expanding their operations to include relevant services.

Young real estate professionals choosing management
While it was once thought of as an occupation for overall-equipped handymen, commercial property management has taken on more of a corporate tone over the past few years, with managers even finding their way into the boardroom. In turn, more talented young people are joining its ranks.

"We are seeing a shift in real estate management as a career of coincidence, as it was for many senior practitioners, to a career of choice," said Joe Greenblatt, a certified property manager himself, and president elect of the Institute of Real Estate Management. "We are now recruiting people who are very well educated, have earned a CPM (Certified Property Manager designation) and are 25 years old. Think about the impact they will have just because of the age that they are coming into the industry."

Property managers among the happiest professionals
Finishing third in a 2012 survey by the website Careerbliss.com that measures worker's happiness in their occupations, property management also offers people a way of finding fulfillment in their work. Delivering tangible results, like tenant retention, client return on investment and the ability to see labor deliver significant improvements to properties, managers report a higher level of satisfaction with their tasks than almost any other profession.

According to Greenblatt, "These are metrics of success that can be measured and, as investors and owners become more sophisticated in their demands, it is driving the requirement that managers have not only strong technical skills, but soft leadership skills as well."

Real estate companies expanding management services
The growth trend in property management services can be seen in places like Cleveland and Greensboro, N.C. Commercial real estate companies are working to offer their clients diverse services in a more effective way. In Cleveland, Columbus-based Continental Realty has formed a partnership with local Cresco Real Estate to collaborate on commercial property management services. And, in Greensboro, the well-established Birch Management, Inc. has opened a new commercial division called, appropriately enough, Birch Commercial. The new entity will offer a wide range of management services to its already strong base of clients.

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