Copyright Institute of Real Estate Management Nov/Dec 2001The real estate industry is kickin glass and making changes as it works at shattering the glass ceiling in an effort to take advantage of the minority majority that comprises the workforce of today.
An industry once filled primarily with white males, the property management industry is increasingly attracting the interest of women and minorities who are molding successful careers for themselves.
Like many organizations, the Institute of Real Estate Management (IREM), recognizes that by taking active steps to add larger groups of minorities and women to its membership roster, it can help strengthen the real estate management industry. Through the use of a number of programs including scholarships, outreach activities, and promotion, minority groups can be made aware of the many opportunities that are available to them in the real estate industry.
IREM has instituted a number of minority initiatives to attract minorities and women including:
* IREM offers a minority scholarship program that allows more individuals to have opportunities to become involved in the real estate profession by attracting and qualifying up to ten minority candidates per year for the CPM designation.
* Last year, for the first time, the Institute recognized chapter efforts for minority recruiting, advancement and retention with the creation of a Minority Outreach Award.
The Institute has developed a number of resources to aid chapters in minority recruitment efforts at the local level. Included among these resources (which are also available on IREM's Web site at www.item.org) are the following:
-"Diversity Training: Supporting the Outreach Effort"
-"Chapter Guide To: Establishing a Mentoring Program"
-"Chapter Guide To: Creating a Scholarship Program"
-Speech: "Careers in Property Management for Women and Minorities"
Although the involvement of ethnic minorities in the real estate industry has come at a slow rate, progress is being made. According to IREM membership statistics, only four percent of CPM designees, 4.7 percent of CPM candidates, and 9.3 percent of ARM participants were ethnic minorities in 1993. By 2000, those numbers had increased to 9.3 percent of CPM designees, 8.8 percent of CPM candidates and nearly 18 percent of all ARMs. And with increased enrollment, new opportunities are becoming available to property managers from all backgrounds.
As associations and others spread the word about the careers available in the field, more and more minorities are looking to real estate as a career. "The outlook for minorities will continue to improve," said Marie Pettie, ARM, of Kent, WA-based 
IntraCorp, and a former IREM minority scholarship award winner. The industry offers a lot of opportunities for minorities, especially with the increase in diversity of the workforce."
She added, "The real estate management industry needs to reflect the diversity that we have in our society. That makes things better for everyone. The more diverse our workforce, the more we can address different issues that come up from individuals in the community."
A Need for Mentoring
One strategy that has proved to be essential to achieving diversification is mentoring. Korn/Ferry International, in conjunction with Columbia Business School, conducted a landmark study of the highest paid, most successful minority executives in Corporate America. One of the study's most significant findings was the importance mentors play in determining chances for success. Growing up, 48 percent of the respondents said they had a role model who helped guide them toward early career goals. In fact, finding a committed mentor was listed as a crucial turning point in many executives' careers.
"It's important to reach out to individuals who are interested in property management," agreed Pettie. "Many people who are involved in property management do so almost by accident. People respond better when individuals take them under their wing and show them what's available and out there."
She added, "We should always try to reach out and get more people active in the industry. We want to be a profession where people come to us by choice, not just by accident."
Minorities Benefit from Designations
Milton A. Washington, CPM, of Pittsburgh, PA-based Allegheny Housing Rehabilitation Corporation, agreed that professional designations such as those offered by IREM can provide minority property managers entree to career opportunities.
"The CPM designation has assisted me in my dealings with HUD, the real estate board and state housing finance agencies and I was elected to the Pittsburgh Board of REALTORS, the first black ever elected to that position, partly because of my CPM designation."
Recognizing his property management career successes, Ray Hauser, CPM, an African-American who works for the Indianapolis, IN-based Flaherty & Collins, Inc., acknowledges that "I've been one of the lucky ones to have a full and positive career in property management. There are others who have not had a positive career in property management even though qualified."
He added, "For every individual in my situation, there must be 10 to 20 individuals, maybe more, whose careers are negatively influenced because of their ethnic background and resultant discrimination."
Hauser noted that IREM and the CPM designation has "opened doors for me in my career. I have had many offers of employment from very reputable firms."
Walter J. Edwards, CPM, an attorney who heads his own consulting company-Edwards Consulting-in Sacramento, CA, is a professional success in every sense of the word. He maintains that internship and scholarship programs are beneficial and essential in effectively recruiting minority individuals to the real estate management industry.
"While management careers exist in both the private and public sectors in real estate, qualifications have become greater; therefore, some individuals seeking career opportunities will not satisfy the minimum job requirements," he explained. "Consequently, internship and scholarship programs are essential in exposing minorities to property management careers.
Edwards credits his earning IREM's CPM designation, in part, to his success.
"Obtaining the CPM designation has substantially increased my value, and has given me enough public exposure and confidence to advance my career opportunities," he said.
Edwards, who has been very active in community activities and often serves as a mentor, said "I often tell students, 'You don't have to come from a wealthy family to be successful in life,' I encourage them to read and get involved in something constructive in the community. It's important for them to hear from a minority, to have that relevancy."
Michael B. Simmons, CPM, a past IREM president, and Chief Operating Officer and Vice President of Operations for the Pleasantville, NJbased Community Realty Management, Inc., AMO, suggested that successful minority property managers need to serve as mentors. "It's easy to tell people about the success they can achieve but it's better when you can show them."
Simmons added that the "CPM designation has given me added credibility and acceptance that perhaps as an African-American, I may have had to gain through unreasonable or unfair measures to demonstrate my property management knowledge."
Despite a weakened economy, real estate continues to offer minorities and women attractive career opportunities. "I think the idea and concept of being involved in the industry is powerful," said IntraCorp's Pettie. "The field is exciting, offers a lot of different roads to success, and gives you the opportunity to set your own goals."
Indeed, real estate companies of all types are taking seriously the need to promote diversity in the workplace. For minorities and women, the door to opportunities within the property management industry is wide open to those with ambition and perseverance.
| [Author Affiliation] |
| by Nancy Pekala |
| [Author Affiliation] |
| Nancy Pekala is Managing Editor of JPM. John Iwanski contributed to this report. |
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