News from the Chicago Chapter

Perspectives On Earning Dual IREM Designations: Colleen Needham, CPM®, ARM®Senior Property Manager, Draper and Kramer, Incorporated

Colleen Needham, CPM®, ARM®
Senior Property Manager, Draper and Kramer, Incorporated

1. What are the key factors that prompted you to pursue and earn a second IREM professional designation?

• Growth in the multifamily industry is always important, and the CPM® was another way to capture a segment of industry.
• It’s recognized by many in our industry as elite, which is good when dealing with third-party management.
• Draper and Kramer prompted its lead property managers to get the designation because as an AMO®, they know the benefits that come with the prestigious CPM accreditation.
• One of my five strengths is being a learner. I love to learn, and this was another opportunity to do so.

2. What were some of the challenges you faced in balance between work and earning the second designation?

 I actually did not have any difficulty with the balance with work and the CPM.  Draper and Kramer was in full support, which made scheduling the time away from site simple.  The building I had at the time ran extremely well and my staff were very supportive.  The process was positive and rewarding from start to finish.  I was taking ASM exams while on vacation, so that was fun.  

3. Did your employer provide inspiration and support? If so, please explain.

Draper and Kramer is always a great proponent for education and improvement of our skill set.   They prompted many of the property managers to work towards the designation.  Many of my peers and I did the classes together and it added a top notch layer of support. It was really a great dynamic brought about by DK.

4. Commercial properties across most asset classes are being redeveloped today to meet new tenant uses and demands. Will earning the second IREM designation make you better prepared to manage these “hybrid” properties?

Having my both my ARM® and CPM has allowed for a variable of knowledge that has helped me navigate the ever-changing dynamics of our industry. I just recently took over a retail shopping mall with my multifamily buildings, and the changes of one affects the other in small ways; but, you see an impact of cliental and residents when they are in close proximity. The apartments I run are embarking on redevelopment which will change our demographic. This will in turn change the type of tenants we want in the commercial retail spaces, and it also attracts a different type of retail vendor. Overall, having the designations and the networking that IREM provides allows me to tap into those incredible resources in order to provide the best service for the owners and the community.

5. Earning a second designation demonstrates a great commitment to yourself, the profession, tenants and your company. Please share other benefits and insight.

Having both designations helps me also share with my team the importance of what the designations can do to help them in their positions and growth.  I was inspired to get my ARM from my first Regional Manager at DK, John Leanse. He spoke of the benefits and importance in our growing industry -- an industry that started to look for Property Managers with Bachelors in Business/ Marketing or Hospitality degrees.  I had none of these, but the designations put me there.  After getting the ARM, I went back to school and got my degree in Business; a year after graduating, I got my CPM.  Warren Buffet said something very simple and yet inspiring to me: “The most important investment you can make is in yourself.”