PHILADELPHIA, PA, September 04, 2013 /24-7PressRelease/
-- As the founder of Ct. Corporation Inc., a real estate group, Gary Richetelli
understands that real estate is a diverse industry with booming opportunity. According to a recent article
on Real Estate Weekly, careers in real estate are as promising as ever, especially for certified property management positions. Most CPMs are designated through the Institute of Real Estate Management and the National Association of Realtors. CPMs are financial, management, and real estate experts who are collecting an average salary of $94,000 a year in New York City.
"A certified property manager is responsible for maintaining properties and keeping their values high," real estate Gary Richetelli says. "In essence, a well-managed, attractive property is more likely to bring in well-meaning tenants and renters. CPMs oversee entire properties and buildings in order to maximize occupancy."
One advantage, according to Real Estate Weekly, is that CPMs have a diverse knowledge of the real estate industry. With backgrounds in marketing and property management, they are capable of protecting property investments and making the most out of a property. CPMs usually either focus on commercial or residential properties, though each specialization requires post-secondary education and a focus on business, architecture, or real estate. They are responsible for a building's (i.e. an investment's) long-term care and market survivability.
According to the article, a real estate management company is hiring CPMs in their mid-20s who will shape a career around property management. The article says another positive for CPMs is that they see tangible evidence of their hard work, an aspect many career paths struggle to notice. Analytical goals such as tenant retention, property value, and client return on investments are gratifying to reach for CPMs.
The article also says that property managers are less risk adverse compared to contemporary real estate agents and related positions. Though there is little data to back this assumption up, the field is undoubtedly booming and many college grads are finding promising careers as certified property managers.
A large reason why the field is performing so well, according to the article, is because modern real estate companies are emphasizing management in general. Instead of relying on sales, tenants, and advertising, CPMs have to manage labor, entire properties, and investments for clients. Workers with management backgrounds are also flexible in various other fields.
"In general, managers have the ability to pick up and run a business without a hitch," Gary Richetelli says. "There are industry entry restrictions, but almost every business is the same on paper. All it requires is someone with the ability to make profitable, ethical, and long-term decisions that will secure a business' success."
CPMs are not alone in the real estate industry. There are also residential/commercial real estate agents and brokers, appraisal specialist, home inspectors, real estate advisory experts, investment bankers, developers, and construction workers. CPMs are only one cog in the wheel, though the cog is making headway at full speed. Gary Richetelli believes that a position as a CPM is a promising, secure career path.
Real estate guru Gary Richetelli founded Ct. Corporation Inc. in 1977. Since then, he has shaped the industry-leading company into a real estate force in Connecticut. The company's ownership switched over to his son Michael in 2001, and since then Richetelli has enjoyed traveling.