Growing around the globe

In 2024, IREM continued developing its international strategy, and it has already borne fruit. Using research collected in 2023, IREM developed this strategy with an outside consultant. In 2024, IREM’s international strategy surpassed its goals, both in revenue and membership growth. IREM chartered a new chapter outside the U.S. and began offering courses in a new country. In 2025, IREM will start offering courses in a new language and increase accessibility to its online products to reach a wider audience.  

Implementing a new strategy takes time, resources, and perseverance. With this in mind, IREM continues to take steps forward.  

Tools to identify preferable markets

Renee Savage, CPM^®

When this strategy work began, IREM leadership stressed the importance of changing IREM’s approach to entering new markets. Renee Savage, CPM^®, IREM Past President and 2024 Chair of the International Advisory Council, says, “A key piece of this strategy is making our international movements more intentional and proactive, and less reactionary.” Thus, a key project in 2024 was developing an assessment tool to dig deeper into a possible new market. 

The tool addresses the following categories: 

1. Security and safety concerns 
2. Revenue potential 
3. The maturity of the property management professional 
4. Localization requirements 
5. Demand for real estate management education and services 
6. The competitive landscape 
7. Prior interest and whether the area already has members 

A worksheet provides a scale to measure each category, allowing objective analysis of new markets and providing guidance on which places may make the most sense for IREM to enter next. 

The Caribbean

Based on the tool used above, the Caribbean rose to the top as an area to explore. The Caribbean has been slowly increasing its number of IREM members, specifically in the Cayman Islands. Even more, the members there are passionate, with some members coming to the Global Summit in Indianapolis to meet and network. 

Using this assessment tool, this region rated highly. It is a fully English-speaking market with a developing real estate profession. It boasts a high average income and a high demand for real estate management services. It is also regionally close to the U.S. and has a market that mirrors the U.S. in key features, making it a good match for IREM products. 

To better understand this area’s potential, IREM will conduct a full market assessment and consider how best to consolidate the region. It is clear the Cayman Islands, with many members, would serve as the starting point, but we are still deciding which other surrounding areas to combine in the efforts—Bahamas, Jamaica, Barbados, or somewhere else. Dawn Carpenter, CPM^®, 2025 IREM President, expressed her excitement about further exploring the Caribbean. “For several years, I have seen the member numbers increase in this region. I am glad the strategy has put a spotlight on it. I’m glad to be the president the year we establish a foundation there.”

Increased partnerships

Leah Misbin

“The strategy also emphasizes that we should try to work with strong competitors in a region instead of going head-to-head with them,” says Leah Misbin, senior director of international programs at IREM. With this in mind, IREM has met with real estate associations with global presences, including regional offices of the International Facility Management Association (IFMA), the Royal Institute of Chartered Surveyors (RICS), and the International Council of Shopping Centers (ICSC). 

In an effort to expand partnerships, IREM and RICS co-hosted an education session and networking event in Dubai in late 2024. Waqar Hasan, CPM^®, spoke about cybersecurity considerations for the property management company. The event had full attendance and will be repeated with RICS in early 2025 in Riyadh, Saudi Arabia. “This joint session proved that partnerships can be a powerful approach,” says Misbin, who will continue to explore this route across markets.

The Middle East

In October 2024, IREM confirmed the charter of the United Arab Emirates Chapter at the convening of the Governing Council in Indianapolis. In November 2024, the leadership team traveled to Dubai to celebrate the new chapter on Queen Elizabeth 2, a retired British passenger ship. The party was attended by an enthusiastic group of over 100, including close to 70 new IREM members from the region. “I see big growth in the next few years in this region,” Carpenter says. “I wouldn’t be surprised to see this chapter climb to 300 members by the end of this year.”  

Confirming IREM’s UAE Chapter is only the beginning. In cooperation with the strategy results and its market assessment, IREM is working to expand into other countries, starting with Saudi Arabia, in the Gulf Cooperation Council (GCC), which is made up of countries surrounding the Persian Gulf. “IREM sees huge potential in Saudi Arabia. It has a mature property management market and professionals looking to advance their skills,” says Misbin. IREM offered its first ACoM^® certification program there in September 2024, resulting in 19 graduates. The Middle East Council of Shopping Centres and Retailers sponsored these educational courses, proving the importance of leveraging partnerships.  

IREM is also considering translating and offering Arabic as another official language for educational programming.

Supporting growth in existing markets

IREM Japan remains a stronghold of the IREM international program, with high student counts and member retention. It has expanded to five chapters and has a goal of reaching 1,000 members by the end of 2025. To reach this goal, IREM is expanding its service to IREM Japan, shifting its focus from the education program to member and chapter benefits and programming. As part of this shift, IREM will provide more marketing support to IREM Japan in 2025. This will include a new style guide that will be more inclusive of IREM’s current global position. The HQ marketing team will also host a special session to help IREM Japan think more strategically about brand awareness and IREM’s visibility.  

And beyond!

IREM continues to look into ways to increase accessibility to its products. One way to address that need is by launching the Africa Portal. In 2025, individuals from African countries will be able to access a special selection of online products curated for their markets. While this approach is experimental, the IREM team is hopeful that it will make IREM education more attainable for specific markets that cannot support opening a full program.  

Given all the new initiatives afoot outside the U.S., IREM is well on its way to globalizing its strategy and setting up new pathways to grow membership and promote the industry beyond its borders.