Colorado Real Estate Journal - September 21, 2016
Industries are in constant flux. As such, the pursuit of education should be important to all property managers in order to stay relevant and cutting-edge in their respective field. Staying abreast of the latest developments, skills and new technologies are a must. In order to stay current in the market, property managers need to be generalists – knowledgeable enough on a topic to be dangerous, but wise enough to know when to rely on the guidance of experts. Topics are numerous and cover different disciplines – law, accounting, architecture, tenant relations, mechanical systems, construction, leasing and technology. The list is endless. Here are some reasons why education is important now and in the future. Career Advancement. Your knowledge and skill sets need to be up-to-date with the latest market trends valued by your industry so your employer and owner will continue to view you as an asset. An excellent way to demonstrate that is by going back to school in the pursuit of a real estate license or professional certification – even better if the employer pays for it! By investing time and money in your education, you will send a powerful message that you are serious about a life-long career versus a momentary job. Improving your education and applying the newly learned skills will increase the long-term value you bring to the table and hopefully parlay into a promotion. Money. Did I say money? A higher-education level usually translates into more money. Census surveys show that those with higher levels of education – such as a bachelor degree – make around 50 percent more a year than people with only lower-level education – high school diploma or equivalent. According to the U.S. Bureau of Labor Statistics (BLS), property and real estate managers could anticipate a 12 percent growth in career opportunities between 2014 and 2022. According to the BLS, the average annual wage for these professionals in the Denver area was $66,950 in May 2015. Marketability. In property management, properties are bought and sold on a frequent basis. As such, it is to your benefit to have a thorough understanding of current market trends and technology. Obtaining a professional designation such as a RPA, FMA, or HP along with a real estate license and continual reading of various real estate publications, you are able to enhance your appeal to your current and future employers! Final Thought. “We are the average of the five people we spend the most time with,” Jim Rohn once said. Surround and associate yourself with successful peers. Find positive, intelligent, hard working, honest people that continually inspire and challenge you to stretch your perceived limits. “Education’s purpose is to replace an empty mind with an open one,” said Nelson Mandela. Simply put, never stop learning.