Education & Training
MPSAXM - Management Plans Skills Assessment
Setting a goal to achieve the CERTIFIED PROPERTY MANAGER® designation means that you have made a commitment to achieving the highest standard of professionalism in the real estate management industry. As a CPM® candidate you possess the determination needed to show your peers, employers and clients that you have what it takes to be counted among the very best.
Now that you have completed your course work and other requirements for certification, it is time to start preparing for and thinking about how you will meet the "management plan" requirement for the designation. One of the principle ways REIC and IREM use to validate your real estate management competency is through the "management plan" requirement. You now have two choices for how you can meet this requirement:
Submit a written management plan and score a minimum of 700 points (1000 possible points).
- or -
Complete and pass a Management Plan Skills Assessment (MPSAXM).
Written Management Plan
Based on actual properties chosen by candidates, these plans demonstrate a CPM® candidate's knowledge of the principles taught in REIC/IREM courses and their overall experience in real estate management. Through a written plan you can showcase your expertise and ability to explain clearly and convincingly the options and recommendations for meeting the objectives of clients and the reasoning that leads to your conclusions. Here you will prove your analytical and research skills, confirm your effectiveness as a communicator, exhibit your wide range of knowledge, and illustrate your ability to synthesize a vast range of facts and opinions into a coherent written plan.
For more information on the requirements for writing a traditional management plan, call REIC at 1-800-542-7342, and ask for the Handbook for Writing Your Management Plan for CPM® Admission Credit.
MPSAXM - Management Plan Skills Assessment
CPM® candidates can choose to fulfill the management plan requirement by completing and passing a Management Plan Skills Assessment (MPSAXM).
The Key issues covered in this course are:
- The importance of managing by plan
- How to communicate effectively and convincingly the options and recommendations for meeting the objectives of ownership and the reasoning that leads to your final conclusions
- How to synthesize a vast range of facts and opinions into a coherent whole
- Concepts, technical skills, and processes involved in preparing a management plan
MPSAXM - Management Plan Skills Assessment
Like the traditional written management plan, the Management Plan Skills Assessment (MPSAXM) is a comprehensive evaluation of the knowledge and skills required to be a CERTIFIED PROPERTY MANAGER®. All of the skills required to complete a traditional written management plan will be required to complete the Management Plan Skills Assessment.
Lasting four days, the Management Plan Skills Assessment has three components:
1. Concept Evaluation (Second day)
You will begin the assessment process by answering a series of questions. All of these questions require essay type answers. These questions are designed to evaluate your knowledge of the concepts, methodology, and processes involved in preparing a property management plan. You will be given two hours to complete this portion.
2. Property Information (Third day)
Upon completion of the Concept Evaluation, you will be presented with information about a property. You will have the opportunity to select a property type when you register for the MPSA, i.e., office building, residential or retail (see registration form on page 14). You will then have the rest of the day (approximately four to six hours) to review the property information. If you wish, you can choose to work with other participants who are working on the same property type in a study group. During this time, an IREM faculty member will be available to answer questions.
3. Property Analysis (Fourth day)
At the beginning of the second day, you will be presented with additional information about the property and given a management scenario. Using the information you were given on the first day, and this additional information, you will prepare written essay answers to a series of questions. These questions are designed to measure your ability to demonstrate your command of the skills needed to complete a workable management plan.
Classroom (4 day)
Candidate/Member: $1,595 (includes box lunch thrid day only)
Frequently Asked Questions:
How will the MPSA be graded?
The MPSA is graded using the same point system as the traditional written management plan. A total of 1000 points are possible, and a minimum of 700 is required for passing. The point structure is as follows:
A total of 150 points are possible from the component of the MPSA. A minimum of 105 points (70%) are required for passing. Available points are distributed evenly across all questions asked.
The Property Analysis grading works similar to the traditional written management plan. A total of 850 points are possible and a minimum of 595 (70%) are required to pass this component of the MPSA. Points are distributed based on the importance of each question.
What type of questions will be asked multiple choice or essay?
There are no multiple choice or true/false type questions in either part of the MPSA. The Concept Evaluation will be a combination of short answer and essay type questions. The Property Analysis component consists of mostly short questions, requiring detailed answers, i.e., "Suggest two alternatives for this property, then, recommend one alternative and justify your recommendation."
What will I be required to compute and how will I need to present my answers?
Be prepared to approach and complete the Management Plan Skills Assessment (MPSA) questions as you would a traditional written management plan. For example, while the computation of ROI, NPV, before-tax cash flow, etc., are not required in either the MPSA or the traditional written management plan, it will be difficult to arrive at your answer if you do not do these calculations.
If I do not pass parts of the MPSA, will I be required to retake only the sections that I failed?
No. The MPSA is graded as either pass or fail. There is no retake or rewrite of a flawed MPSA section. If you do not pass it the first time, you will be required to either take it again or submit a traditional written management plan.
Can I register for MPSA at the site of the offering?
No. You will need to preregister before the offering so that an appropriate amount of materials can be sent to the site. When you register you will need to indicate the type of property (retail, office building, or residential) you will be working on in your skills assessment.