Many real estate companies and developers use the terms “mission statement” and “real estate mission statements” interchangeably. They are both used to communicate information regarding the values, goals, principles, and objectives of a real estate company or development project. Although the term “mission statement” is commonly associated with real estate projects, these statements can apply to any type of business. For example, a hospital often includes a mission statement in its organizational documents. A law firm may include one in its bylaws.
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When discussing real estate mission statements, it’s important to understand that they are typically written in a very specific, prescribed format. They typically include a description of the company’s core values and missions. They also describe team members’ talents, capabilities, and strengths, as well as their personal relationships and goals. This personal mission statement often goes into great detail describing personal experiences that directly relate to the core values and missions of the company. It also describes the vision and mission of the brokerage. And finally, it describes the regulatory and ethical standards that the company adheres to.
Some of the more popular real estate mission statement examples are those provided by Realtor groups. These examples usually begin by describing the primary role of the brokerage in terms of building and managing investment portfolios. Then, the description continues to list the firm’s key business partners. The Hybrid real estate examples describe core business areas through the lens of the brokerage’s priorities, while the New England real estate example speaks of the company’s core competencies. In the latter two examples, the language describes key aspects of the firm, rather than presenting a broad overview of everything the company does.
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In general real estate professionals tend to feel more comfortable describing their businesses and practices in the context of a written mission statement. That is, for the most part, because they do not wish to wade through the abundance of text describing how their business works from the perspective of other employees and from the perspective of their owners. However, even though the mission statements of many brokerage services are relatively short, it is important to make sure you include some sort of description of what the business does on a regular basis. After all, prospective clients are looking for a certain type of company, and if you do not explain what your firm does, then you are not likely to get a lot of business. Good brokerage services will also make sure you clearly outline what you expect from your employees.
Some of the best real estate agency mission statements are those that provide a clear description of the goals and strategies of the company. Unfortunately, many real estate agents focus so much time on providing the overall business plan that they completely miss the opportunities to highlight the key activities of the company. In addition to the goal-setting section, real estate agents should include a brief paragraph that gives the full background of the company’s key personnel. For instance, if the company handles transactions involving government-related institutions, the real estate agents should provide background information on the principals of the company, including any previous or present government contracts, affiliations, education, awards, and professional licenses. The more information you have regarding the people running your company, the more likely you are to find out what steps will be necessary to preserve the integrity of your investment portfolio.
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It is important to remember that not all real estate business mission statements are set forth in the same manner. Many real estate agents have been trained to create “bite sized” mission statements that are designed to meet the needs of the investors in a specific geographic area. While this may be fine for most investors, others will prefer more detail and may not be satisfied with a one-page explanation of their firm’s goals and practices. As a result, it can be beneficial to utilize real estate business mission statements generator software. These types of software allow you to quickly and easily customize the content and structure of your mission statements.
The first step is to identify the core values of your company. These core values should be designed to align with the strategies and practices that you employ in order to preserve the integrity of your investment portfolio. For example, if you are an investor who has numerous properties located throughout several states, your mission statement should state that your company is committed to providing excellent service to each property and to maintaining a hard work environment that is customer-centric. This approach establishes you as a company that will strive to do what it takes to treat each customer as a unique and important part of the organization.
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As an example of how to use these examples of real estate mission statements, let’s say that you are an investor with many properties located in New York City. You will likely want to create a personalized, hard work environment that is specifically focused on the New York experience. You can start the process by requesting that your general manager submit a custom resume pertaining to your specific location. After receiving your resume, you will be able to tailor your hard work and customer-centric mission statements to address specific issues that you need to focus on. For example, if you have properties in primarily distressed areas in which you have acquired properties in order to resell them at a profit, you may want to emphasize that fact in your resume as well as how you intend to utilize your properties to maintain a profitable ROI.
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