Mission, Vision, Values for a Real Estate Business

By
Real Estate Agent with Owner of ActiveRain Inc.

 

Understanding Mission, Vision, and Values Statements

 

Whether you’re just starting off in a new career or have been managing a company for quite some time, the benefits of having a defined, company-wide mission statement, vision statement, and values statement can be critical to attracting both customers and talent to your business.

Each of these statements can prove invaluable to your business, as they are crucial elements of the strategic business planning process. However, it’s easy to get the three confused.

Before we go further, the following is a quick synopsis of each:

- Mission Statement. A mission statement is designed to be an outward facing statement that is directed towards your customers.  The mission statement will help customers decide if your business is the right match for their needs.

- Vision Statement. A vision statement is designed to be an inward facing statement that is directed towards individuals that work with or for your company or those that are deciding to take an opportunity with your firm.

- Values Statement. A company’s value statement is used as a guide to help employees and owners make their most important decisions.  

If you’re neglecting any of the above—or simply not enforcing them company-wide—your business will likely suffer for it. After all, the mission, vision, and values statements are among the best, most simple governance tools you can utilize.

While we hope the above was helpful as a starting point, there’s much more to understand here. Let’s get started, shall we?

 

Ben Kinney Companies Mission Vision Values

 

The Mission Statement

 

As we mentioned, this is the statement that is directed towards your customers.

Put even more simply, the mission statement should answer what does your company actually do? and where does it do it?  It’s the mission you’re on for the sake of the consumer.

Importantly, your mission statement will need to be pithy and exceptionally simple. Remember, this isn’t for internal consumption -it’s meant for your diverse range of potential consumers. You can’t expect the average consumer to want to remember anything complex, nor should you anticipate they’d be able to if they tried.

What would it sound like if you yelled your mission statement from the rooftop to an audience of your best customers?  Would they understand it?  Would they remember it?  Would you run out of breath? 

Bad example:  "The mission of the XYZ real estate company is to help buyers buy homes for the least amount of money with the best service while helping sellers sell fast and make the most money in the Bellingham, WA residential real estate areas"

 

Not only would you run out of breath, but it sounds cliche, boring, and non inspiring.  

Short, memorable, direct and to the point about what you do makes the best mission statement.

On the Ben Kinney Real Estate Team, our mission statement is simple:

 

“Delivering the Dream of Home Ownership Everywhere!”


The Vision Statement

 

The vision statement contrasts directly with the mission statement. It is intended for internal use only and may only be shown on the inside walls of your firm. It can also be show on the recruiting and hiring pieces your company creates.

Your company’s vision statement should be designed to assist in the retention and recruitment of employees. Because of this, its function is quite different from the mission statement.

As opposed to clarifying what your company does or what it is, the vision statement looks towards the future and describes what your business hopes to be one day.

If your vision statement is both constructed and employed correctly, it will serve to establish the future vision and growth of your business. And, what type of talent your business will attract.

Boring example:  "Be a great place to work where people are motivated to be the best"

For example, on the Ben Kinney Real Estate Team our vision statement is simple:

 

“Dominate Markets. Make Millionaires. Give Millions.”


Company Value Statements

The value statement, also known as the companies core values, is a group of business values that demonstrate your company’s culture, general philosophy, and convictions.

A company value statement serves to mold company culture, and is used to support your mission and vision statements.

Your value statement should contain only your core values not a list of a bunch of words that sound like rhetoric. If you have too many, your employees won’t be able to recall them all. Try to limit the value set to no more than five to ten distinct tenets of what your business is all about.

In our case, at the Ben Kinney Companies, our value statement makes up a word and each letter of that word has a deeper meaning.

The Success of Our Businesses Will Be Determined By Our Ability to Maintain Our HEALTH:

Hardwork

Extraordinary Results

Accountable in All Things

Leaders Only

Teamwork

Humble

Note, that just because your company has a values statement doesn't mean that it will positively affect your company.  It takes complete company absorption and adoption to have these words be more than just rhetoric.

 

Conclusion

If you successfully create a mission, vision, and values statement, you’ll find that they all play off one another and aid in your company’s future success. Simply follow these few easy steps:

1.  Work together to create them and get buy in from the whole organization.

2.  Deliver and share the mission, vision, and values statements at all company functions, meetings, and in the appropriate publications.

3.  Expect everyone to memorize them. Inspect and test your organization starting with a top down approach. Recognize individuals that have memorized them. Especially those that have delivered on these promises made within the companies mission, vision, and value statements.  


Take Action

We are such strong believers in this process, we'd like to encourage ActiveRain members to undertake this process for yourself. We would like to offer 2000 ActiveRain points to anyone that details their Mission, Vision and Company Value statements.

Write a blog post that shares these three aspects of your business and once you publish it, come back here and leave a link to your blog post in the comment section of my post. We'll give you until the end of August if you want to get the points, because this process can take time and it shouldn't be rushed.

We look forward to learning more about each of your businesses and how you think about sharing your business with your customers.

 



 

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Comments (95)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

I would have been remiss not to participate in  such an easy contest... needless to say easy for me, since I have had a Mission Statement and Core Values before I became a Realtor..... no thought required.....Mission Statement of Endre Barath a Beverly Hills Realtor.

Aug 29, 2016 05:48 PM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

This is a very interesting challenge. Here's my entry. 

Aug 30, 2016 01:53 AM
Carol Wilson
Your $imple Home - Toronto, ON

What an excellent idea for a contest!!!  Thank you very much.

My blog is here:  Your $imple Home

Aug 30, 2016 01:16 PM
Cristina Salcedo
REMAX Champions - Riverside, CA
Corona, Riverside Realtor

Thank you for this contest.  It felt great to write the post.  Now here it is:  Mission, Vision, Values

Aug 30, 2016 04:41 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thanks for making me do some major tweaking!  Here's mine:  Charlotte Real Estate - Mission, Vision & Values.

Aug 31, 2016 04:20 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents
Denise Hamlin, Broker/Owner
Cardinal Realty ~ 319-400-0268 - Iowa City, IA
Helping Happy Clients Make Smart Choices

Thank you for this blog post Ben. It gave me a lot of food for thought and proved a great exercise for me in working out what I want my company to stand for. The icing on the cake is that I even get bonus points for it!

Cardinal Realty ~ Mission, Vision & Values

Aug 31, 2016 04:38 AM
Yolanda Cordova-Gilbert
Richmond, TX

 

Ben,

 Thanks for this contest, I have always known it in my heart just never put on paper. Here is my entry.

Vision, Mission and Values of a Sales Consultant

 

 

 

Aug 31, 2016 05:39 AM
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Thank you for hosting this fun contest!  Here is my entry:

 

Mission Vision and Values

Aug 31, 2016 06:32 AM
Janice Zaltman
United Realty Group - Boca Raton, FL
South Florida Residential Real Estate

Thanks Ben! Below is my entry.

 

Mission Vision And Values For Janice Zaltman

Aug 31, 2016 09:06 AM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I am not totally satisfied with my entry, and will be dedicated more time this winter drilling down deep.  Here is my entry...

We are on a Mission with Vision and Values...

Aug 31, 2016 01:21 PM
Diana Zaccaro
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Interesting contest...thanks for a thought provoking challenge.

 

Mission Vision Value Statement for Cocoa Beach Florida and environs

 

Aug 31, 2016 01:48 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I shared this at our staff meeting on Tuesday.  It was a tearful and impactful few minutes.

Aug 31, 2016 02:47 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Thanks Ben, a great exercise, I am glad that you encouraged us to tackle this endeavor.

Here is our Mission, Vision And Values Statement.

http://activerain.com/blogsview/4941773/woodland-management-service--mission--vision--and-values

Aug 31, 2016 06:50 PM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

When will the points for this challenge be posted Ben Kinney?

Sep 27, 2016 12:00 AM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Thank you!

Sep 27, 2016 02:20 AM
ActiveRain Support
ActiveRain - Bellingham, WA

Points for the contest have been awarded. Our sincerest apologies for the delay.

 

Thank you and have a Rain-tastic day!

Sep 27, 2016 02:23 AM
Noel Mayer
Weichert Co - Montclair, NJ
YOU WILL BE RIGHT AT HOME WITH NOEL

As a new agent thank you for the road map 

Jan 01, 2017 02:55 AM
Anonymous
Mohammed Mahamud Ziblim

Wow such a brilliant delivery.. Thanks bunch for the lane created.. I needed a guide line to write a business plan for my real estate business in West Africa, precisely Ghana in the city of Tamale... Looking forward learning more from you as a mentor, thanks

Feb 09, 2018 11:20 PM
#94
Mott Marvin Kornicki
Waterway Realtors® • Notary Public & Apostille - Sunny Isles, FL
Miami Notary & Apostille 786-229-7999

That's an excellent compilation of traits, qualities and philosophy for anyone that is trying to establish a long term goal. Ben Kinney 

Jun 11, 2018 11:10 AM

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