Every real estate business has a story behind its start and how it is taking the step forward to become the best. All this is contained or summed up in the form of a mission statement, which is a brief articulation of the objective of the real estate consultancy and what it wants to achieve in the future.
Have you ever thought about why some real estate companies are able to strive through the competition and stand out, while others just lose their existence in the crowd? Well, one of the key reasons behind this is a lack of focus and motivation. One of the reasons is that maybe you are not up to the professional standards of having a mission statement. Some real estate companies have poorly constructed mission statements that are vague or do not tally with their employees’ ideas, which do more harm than good. Sometimes, they drive their potential clients to their competitors.
This happens because people are usually unaware of what is required to have a powerful mission statement for the real estate business. Hence, here is an account that will walk past the need to have a mission statement and write one that will help you have a better direction. Finally, you can read a few examples that will give you a better idea.
Table of Contents
What is a mission statement?
As mentioned in the beginning, every business has a reason for existence, and they must share the same with its people and patrons. It transpires a sense of pride. Hence, every business must pen down its reason for existence i.e. purpose or what it wants to achieve in the form of a mission statement. It is a short description reflecting the motto, goals, company spirit. It is typically directed to a company’s target audience, wherein it would explain its reason of being through its services and products.
Unlike what people confuse it with, a mission statement is very different from vision and values. While the vision interprets the perspective that the company follows that would lead to great things. On the other hand, values define the ethics and the knowledge that every employee shares and abide by. But a mission statement is an amalgamation of a company’s goals and ideas and what they aim to achieve business and ethics-wise.
Why does your real estate firm need one?
The purpose of a real estate mission statement is to establish the company’s goals and vision to enhance business opportunities. A focused mission statement is one that talks about company culture, ethical standards, innovative strategies, business solutions, and investment opportunities. It helps to build long-term client relationships with potential customers and investment partners. Also, a well-written real estate mission statement gives direction to the employees and also helps in building a brand.
Having a statement helps to keep the employees directed and unified. It also establishes the company culture and keeps the morale high. When times are hard in the real estate market, the core values keep an employee going and stay motivated to perform well. Moreover, with a strong mission statement for real estate, your clients also develop faith and help in establishing a long-term client relationship. This will determine the success of the company.
Benefits of a mission statement in real estate companies
Although, the mission statement is important, yet many realtors tend to be not so inclined towards writing down the mission statement. Maybe that is because they do not take it seriously. It would not have been the case if they knew the benefits of having a real estate company mission statement. Hence, here are some pointers to give you an idea of the strength of having a good mission statement.
It gives direction and influences actions for the better
A written statement has a powerful impact and when certain values are put in front of the team, they usually tend to abide by them. But that will only be the case when the words are strong enough, and the ideas create results. That said, when people are spending their time and energy, they would want to invest the same for a better cause. Hence, establishing a good mission statement for real estate would give them a sense of direction.
It brings the right people home
When you believe in the words you write for your mission statement, you create a compelling reason to abide by it. This would help others understand you better. Moreover, it’s the skills that a company needs and ethics and similar ideologies. Everyone has values and when you put forward yours, you attract people who share similar values. This way, you find people who were meant to be for your company. A mission statement for real estate would bring in better real estate agents.
It gives context and maintains unity during rearrangements
Things are bound to go south in a real estate business wherein employee rearrangements are required. But sometimes, people are skeptical of hiring a fresh batch, fearing the loss of values and integrity. When you have a good real estate company mission statement, you don’t need to worry, for people will be guided and understand the ideologies behind the statements and abide by them. This way, you get to organize fresh talent without worrying about the loss of value.
How to write a real estate mission statement?
While it looks fairly easy to write down, a couple of sentences to define the mission or purpose of a real estate company come out hollow. That is why you need to go through some pointers and understand how to make your real estate company’s mission statement better. Hence, here is a step-wise explanation of how to write a real estate company mission statement.
The first thing you need to do is understand the core values you believe in and the primary purpose of the statement. Start by writing in simple words to establish the aim of the company.
Now use those core values of the real estate firm to draft and make a final mission statement that should reflect the values and ideologies behind the company. Now, write down the reasons for the company’s existence. Also, note down how the people would benefit from the services and/or products.
Finally, combine the sentences and use the main keywords to write down a short description of the mission statement. Remember to keep it short and use good yet simple words.
Examples of great real estate mission statements
With great words comes great influence. And to encourage the influence, a company must come up with a powerful mission statement that mentions ethical business practices, company culture, exceptional services, etc. To give you a better understanding of what words can do, here are some of the best examples of real estate company mission statements:
The Loken Group– Our mission is to inspire a positive, lasting impact.
The mission statement for real estate plays a significant role in shaping the success of the company. Now that you know the importance of a real estate mission statement; and how to write one, you should be very careful with the words you use to describe your business purpose and values. It is important to construct a compelling mission statement that defines your company’s objective, culture, and philosophy.
