Whether you are dipping your toe in the real-estate buying pool for the first time, or you’re soaking in it after purchasing numerous properties, the Institute of Real Estate Management (IREM) is an organization to take note of.
With close to 18,000 individual and over 535 corporate members, IREM was founded in 1933 to be an “international community of real estate managers across all property types dedicated to ethical business practices and maximizing the value of investment real estate.”
“IREM,” says public relations manager Sharon Peters, “believes that management matters and that good management translates into value. Simply put, well-managed properties improve the quality of life for the people who live, work and shop in them.”
“IREM,” she says, “also believes in professional ethics, and in the power of knowledge and the importance of sharing it. IREM is the only professional real estate management association serving both the multi-family and commercial real estate sectors and has 80 U.S. chapters, 13 international chapters, and several other partnerships around the globe.”
The organization was founded out of necessity in 1933 during the Great Depression when a group of 14 individuals came away from a meeting of the National Association of Real Estate Boards (NAREB) (known today as the National Association of Realtors or NAR) with concerns about real estate firms abusing the power that comes with the financial responsibility of managing property for others. Months later, one hundred management firms petitioned NAREB to form IREM, and in 1934, the association was officially formed.