The CMPSM certification is a three-year certification that is issued by the American Management Association or MACA to those who are interested in becoming licensed in real estate management. There are four main areas of focus in the real estate management certification exam: finances, operations, information and sales. You can take the certification test as many times as you like.
The real estate management certification exam is available online and on the books of the MACA. This examination is usually taken once a year. If you are a current member of the organization, you may have to take this exam every three years, depending on how much work you have been doing recently.
As for the CMA, it is a four-year, two-part certification which is not available through MACA. The first part of the exam consists of topics such as financial planning and budgeting. The second part covers information management, including customer service skills.
You have to take a real estate management certification exam on your own time and with your own resources. It is best to take the exam on your own time because it is difficult and expensive to take the exam from a computer.
After you finish the real estate management certification exam, you must pass the written portion. To take the written portion, you will need to do practice tests, practice questions and exam study guides. There are also pre-written practice exams that you can get online. The exam includes an essay and multiple choice section.
During the real estate management certification exam, you must read over the topics in the book carefully, understand them and answer all the questions correctly. The book will also provide examples of actual questions that have been asked. The questions on the test are designed to be simple to help you understand them. So, if you have doubts about something or if there are some parts of the exam that seem confusing, you can always pause before answering a question.
When you complete the real estate management certification exam, you will be awarded a certificate and be able to sell real estate property in the state or region in which you are licensed. The exam is usually administered by local real estate brokers.
It takes about four years to complete the MACA, and the CMA requires about five years. It takes three years for the CMA to become an approved credential by the NAR.
To be a successful candidate for the real estate management certification exam, you need to have a strong foundation in financial management, accounting and management of real estate finances, communication and customer service skills. And, of course, you should have the knowledge and skills related to real estate law.
Most of the time, you cannot take the real estate management certification exams until you have passed the first one. Once you pass the first one, you may take the second one at any time that the MACA or the NAR have offered a refresher course. If you have a gap year between examinations, you can take one of the refresher courses at least twice a year.
For more convenience, you can enroll in an online learning option such as eLearning. You can take these courses from the comfort of your home or office. Also, you will be able to take the exams whenever it fits your schedule.
To prepare for the real estate management certification exam, you will be taught how to analyze market trends and analyze the market, how to use the tools used to analyze the data and how to make decisions based on the data you gathered. Also, you will learn how to communicate effectively with your customers so that you can build a relationship with them.