Property Management
In South Dakota, which organization certifies property managers with the Certified Property Manager (CPM) designation?
ASouth Dakota Real Estate Commission
BInstitute of Real Estate Management (IREM)✓ Correct
CNational Association of REALTORS®
DSouth Dakota Apartment Association
Explanation
The Institute of Real Estate Management (IREM), an affiliate of NAR, awards the Certified Property Manager (CPM) designation to experienced property managers who meet education and experience requirements.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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