REALTORS® are known for being self-starters and go-getters; people persons and relationship builders; expert negotiators and problem solvers; and caring individuals who help their neighbours and support local community groups and charities in countless ways.
More than 160,000 REALTORS® live and work in communities across Canada. Just imagine if Canadian REALTORS® and the REALTOR® association community were to unite and use their collective expertise and skills to help address some of the most pressing social and environmental challenges together.
Picture yourself wearing your REALTOR® pin and knowing it represents being part of an industry that is not only making home happen for Canadians but also committed to creating a better tomorrow for all. This is the big idea behind the Canadian Real Estate Association’s (CREA) recent adoption of social purpose, building on the positive contributions REALTORS® are already making every day.
About social purpose
Social purpose is a growing governance best practice for organizations of all kinds, including associations. Not to be confused with vision or mission statements, legal responsibilities or goals, social purpose is an organization’s reason to exist while optimally contributing to the long-term well-being of all people and the planet. A social purpose statement is tied to the core of the organization and is essential to its culture and how it operates.
There are many benefits and a strong business case for associations like CREA to be purpose-driven, including:
- ensuring long-term relevance;
- demonstrating leadership;
- raising brand visibility and enhancing reputation;
- attracting and engaging members;
- fostering collaboration with partners;
- attracting board members and staff; and
- supporting members in their own quests for purpose.
CREA’s new social purpose statement
Two years ago, following direction from the CREA Board of Directors, CREA’s ESG (Environmental, Social and Governance) Committee set out to define a social purpose for the association. The Committee engaged leading Canadian social purpose expert Mary Ellen Schaafsma of Purpose Pathways Consulting for guidance and oversaw an eight-month process that involved consultation, discussion, and collaboration with fellow REALTORS®, board and association staff, and external stakeholders.
Through engaging workshops and interviews, these members and stakeholders were consulted on what CREA and its membership offer the world, what the world needs, and the intersection between the two. They were asked for insights on how CREA could use its core competencies and assets to make the best possible impact for the benefit of its REALTOR® members, their businesses, their communities, and the world around them. The input they provided was analyzed and core themes emerged, which were then refined into an overarching statement and underlying narrative.
In early 2024, CREA unveiled its new social purpose statement: CREA opens doors to thriving futures for all, beginning with home. It’s premised on four fundamental beliefs:
- housing is a human right;
- home fosters human dignity and belonging;
- a healthy environment is critical to a thriving future; and
- collaboration is the key to unlocking positive change.
CREA’s purpose journey continues
While the activation and integration of CREA’s new social purpose will be a long-term journey, CREA’s volunteer leaders are already appreciating the preliminary impact of this new “North Star” for the association.
For Amar Badh Singh, ESG Committee member, it validates his own personal purpose and strengthens his feeling of connection with the greater REALTOR® community. “For me, being a REALTOR® has always been about more than just helping clients buy and sell homes,” Badh explains. “CREA’s new social purpose really resonates with me and inspires me to continue doing my part to build community rooted in resilience and optimism.”
For James Mabey, CREA Board Chair, social purpose has already proved to be a valuable decision lens and reminder of our association’s values. “Our new social purpose statement helps expand our Board’s thinking about what we REALTORS®, our stakeholders, and our partners can do together to make the positive changes we want to see in the world. We added the social purpose statement at the top of every Board meeting agenda package, apply it to key discussions at the board table, and we’re looking forward to having it front and centre during our strategic planning later this year.”
The announcement of CREA’s new social purpose has also drawn attention from outside of the industry. “CREA has taken a bold step by adopting their new purpose,” says Coro Strandberg, President of Strandberg Consulting and one of the Founders of the Canadian Purpose Economy Project, which aims to accelerate Canada’s transition to the purpose-driven economy. “This could pave the way for social purpose to flourish in the real estate sector, driving social outcomes in communities, one homeowner at a time.”
Learn More
To follow CREA’s social purpose journey and learn about ways to get involved, visit CREA.ca/purpose.