www.reic.ca

2 REIC 2017-2020 Strategic Plan

INTRODUCTION The Real Estate Institute of Canada (REIC) provides advanced education and designation

programs that embrace a cross-section of real estate areas of practice. Our courses and programs help shape the future of the industry by enhancing the skills of professionals and business leaders. Dedicated to the highest professional and ethical standards, REIC has been educating and certifying industry specialists since 1955.

THIS PLAN We are pleased to share with you the 2017 – 2020 Strategic Plan of the Real Estate Institute of Canada (REIC). This plan commits us to the continuing pursuit of excellence in advancing professionalism in the real estate industry.

REIC is governed by a volunteer Board of Directors. The Board sets policy direction for the Institute. The work of the Board is conducted by REIC National staff and volunteer leaders who serve on numerous committees, task forces and work groups at both the Chapter and National levels. REIC also partners with the Institute of Real Estate Management (IREM), along with other industry organizations, to offer education and designation programs. The Board, its Committees and Management are committed to progressive, leading-edge governance processes and best business practices.

The real estate industry is one of the strongest and most dynamic drivers of economic growth in Canada. Yet, there is no doubt these are evolving times for all real estate professionals. The nature of transactions and the regulatory environment are more complex. The knowledge and expertise essential in professional practice must be constantly upgraded, updated and communicated to stakeholders. However, despite demonstrated professionalism by the majority, the unethical business practices of a few have subjected our industry to greater scrutiny, and decreased stakeholder and public trust.

This is where we come in. Inherent in REIC’s mission and vision is the advancement of the highest standards of knowledge, integrity and competence. REIC members, by their affiliation, set themselves apart as a select group of highly experienced professionals devoted to continuing education, specialized training and shared learning. This sharp focus on professionalism not only elevates the credibility of the industry, but also strengthens the confidence stakeholders have in REIC. We are well positioned to adapt effectively in a rapidly shifting environment.

Through the execution of the 2013 – 2016 Strategic Plan, REIC successfully fulfilled the plan’s mandate to fully leverage our strengths and build a strong foundation. We raised awareness of our member community, ensured our offerings were relevant to the market, leveraged partner relationships and expanded our corporate outreach program. A stronger, aligned operational structure was put into place and our governance practices were enhanced.

While the previous plan still had resonance, the Board undertook a planning process in the Summer/Fall of 2016. While considering the environment for REIC members and the Institute, the goal was to step back, review progress, and then renew and refresh the strategic direction of REIC. Identifying where to focus and redouble effort was the result of our analysis. We also reviewed trends, priorities and opportunities for REIC. The Board, Staff and Chapter Leaders, as well as selected experts from outside of the organization, completed a scan of issues external to the organization and identified the challenges and opportunities that members and REIC face in the current environment (see Appendix A).

In late September of 2016, the Board, Senior Staff and Chapter leaders participated in a planning session to reflect on the themes from the environmental scan, review REIC’s mission, vision and values, and isolate the key themes of future priority. After two days of robust discussion, a draft 2017 – 2020 Strategic Plan was developed. Subsequent work by Senior Staff refined the plan, and in April 2017 the Strategic Plan was approved by the Board.

In this plan, we capitalize on REIC’s strengths and shift into a higher gear. We have set our roadmap to broaden our reach through leadership, advanced education and designation programs. This plan will guide us through the coming years, enabling REIC to respond to a rapidly evolving real estate environment.

2016/17 National Board of Directors, Chapter Leaders and Senior staff

REIC 2017-2020 Strategic Plan 3

MISSION Our mission is a statement of organizational purpose and reflects our core mandate as set out in legislation:

To advance professionalism in the real estate industry.

VISIONOur vision describes our organization as we work towards achieving our goals and our full potential. This two-fold concentration inspires our future and shapes our directions:

REIC members are sought out for their expertise, high ethical business standards and the exceptional value they deliver.

REIC is recognized as the leading provider of education and knowledge to the real estate industry.

VALUES

Our values shape our organizational culture and drive attitudes and behaviour.

We believe in:

• The value of high ethical standards

• The benefit of experience

• The power of knowledge and the importance of sharing it

• The strength of our diverse professional community

MISSION, VISION and VALUES

2017-2020 GOALS

1. Position REIC as a premier source of elevated professional standards in real estate

2. Increase access to advanced education and enhanced professional knowledge

3. Enrich the local experience

4. Leverage partnerships and technology

4 REIC 2017-2020 Strategic Plan

STRATEGIC GOALS and OBJECTIVES

GOAL 1 Position REIC as a premier source of elevated professional standards in real estate

Our audience includes a wide network of stakeholders, comprised of members, students, potential members, related industry professionals, government decision-makers, employers, the media, and by extension, the public. We will seek to enhance stakeholders’ confidence in our role of advancing industry professionalism, with the ultimate view to protect the public interest. Our intent is that these stakeholder groups will become more aware of and acknowledge the merits of our members’ advanced education, superior knowledge and high ethical standards. By articulating and promoting these greater standards, skills and credentials, we will underscore the value of earning an REIC designation, becoming a member and/or taking our courses.

In the current environment, many have a stake in this goal. From REIC’s vantage point of representing the highest ethical business practices, we will examine current and trending industry developments and strive to provide expertise. REIC and its members will help the industry build and earn a more positive reputation.

Over time, the envisioned outcomes are two-fold: 1) more professionals choose to learn from, and affiliate with, REIC; and 2) stakeholders trust REIC members because we are known as best-in-class and are representative of the highest standards of professionalism, integrity and competence.

Strategic goals outline in broad terms what our intended outcomes are. The Board has set these goals because they are primary to the advancement of REIC’s mission and vision for the years 2017 - 2020. Each goal is equal in importance; the order in which they are presented in this plan is not indicative of their priority or significance.

Objectives detail what will be done to achieve the strategic goals. The Board has set these objectives because they are essential and supportive components for the execution of this plan. Each set of objectives are building blocks that collectively provide a foundation for REIC’s operational blueprint. When linked together, strategic goals and objectives focus us on what really matters and what we need to be doing in the context of our dynamic environment.

Outlined in the following pages are four strategic goals specifically developed with REIC’s mission and vision in mind. With the support of targeted objectives, we look forward to realizing REIC’s full potential, achieving these goals, and making a significant impact on our industry.

We are motivated by a single-minded purpose: to advance professionalism. As a community of experienced professionals committed to high ethical standards and enriched education, we are well positioned to attain this goal. In this plan, we aim to have greater influence interpreting and promoting the meaning of professionalism in real estate.

OBJECTIVES

• Brand and market REIC’s education and designations as the basis for trust in competent, ethical business practice

• Create a content strategy to foster and leverage insight and expertise from thought leadership

• Provide expertise to regulators and government to promote high professional standards

• Be a resource for media and decision-makers regarding professionalism

REIC 2017-2020 Strategic Plan 5

Taking advantage of these conditions, REIC will deliver educational content through a variety of channels, utilizing both currently successful and newly created platforms. REIC has always worked effectively with industry leaders and other organizations, and will continue to actively seek out and engage with a broader network to achieve greater reach. Providing multiple gateways to relevant, enriched education will help to ensure our stakeholders are well-equipped to become trusted experts.

Our knowledge and expertise are assets for the entire industry. We will assess the interest in and value of REIC designations and programming to our stakeholders, and identify the greatest opportunities for growth, renewal and streamlining. Prioritizing our efforts will allow REIC to share our most highly regarded expertise and deliver programs that our stakeholders have identified as essential and valued in today’s environment.

Because we know communication and learning goes both ways, REIC will listen to industry professionals to understand how to make educational content and communications more relevant, timely, clear and engaging.

By closely following and understanding the impact of current and trending industry shifts, and then adapting content accordingly, REIC will ensure our designation programs are fit and flexible.

Fundamental to this plan’s approach is clearing the way for more people in the real estate industry to gain access to our expertise. Our aim is to create more entry points for industry professionals to take part in our education and learn from us. We recognize that business is increasingly driven by, and dependent upon, new technologies, innovation and disruption.

OBJECTIVES

• Increase engagement of members, students and potential members at the local level

• Build value and community for members based on their interests

• Strengthen training and support of local volunteer leadership

• Research and adopt best practices at the local level

• Align organizational strategy allowing flexibility for local circumstances

OBJECTIVES

• Ensure educational content reflects and adjusts to the evolving needs of real estate industry professionals

• Streamline and/or prioritize designations and programming focus

• Utilize multiple channels and platforms to offer educational content

We see an opportunity for Chapters to adopt these practices, tools, resources and activities as a means by which to reinforce connections and highlight volunteer contributions at the local level.

While we expect digital communications to increase in effectiveness across REIC, with this goal we strive to supplement virtual interactions with enhanced face-to-face or personal experiences at the local level. REIC will encourage Chapters and local communities to undertake meaningful activities and rich collaboration. Communities of interest will evolve. By drawing in and including non-members in local activities, we believe that individuals will be more likely to sign up for courses, work towards earning designations, and become active members.

Although human resource and financial capacities vary greatly, all Chapters play a strategic and vital role in local communities. They are a source of insight on local trends and issues, and facilitate access to regional education and professional development opportunities. By fostering and supporting a sense of teamwork, acknowledging our collective stake in building relationships, and accommodating local circumstances, Chapters and local volunteer leaders are well-positioned to strengthen REIC.

Engagement of members and stakeholders is central to advancing our mission and vision. Recognizing that local volunteer leaders perform an essential function in motivating, retaining and rewarding volunteers, REIC will research best practices and successful strategies designed to enhance the volunteer management skills and communication effectiveness of our Chapters.

GOAL 2Increase access to advanced education and enhanced professional knowledge

GOAL 3 Enrich the local experience

6 REIC 2017-2020 Strategic Plan

OBJECTIVES

• Enhance existing partnerships and develop new collaborative alliances

• Leverage technology on multiple platforms to enhance two-way communications, increase engagement and source insight

• Assess and improve National and Chapter technology

CONCLUSIONIn this Strategic Plan, building from a strong foundation, REIC charts an inspiring path and advances our work to a new level in some key areas:

• Influencing and expanding our industry’s understanding of professional ethics and the highest standards of business practice

• Reaching more industry professionals with our education and knowledge

• Enhancing the local experience of our members and potential members

• Deepening our partnerships

The REIC Board is committed to executing this Strategic Plan. The Board has directed Staff to develop annual operating blueprints, articulating strategies and tactics to implement the Strategic Goals and their Objectives.

The Board will review this 2017 – 2020 Strategic Plan annually and update it as necessary given internal and external developments.

GOAL 4 Leverage partnerships and technology

A significant enabler of all the strategic goals in this plan is the quality of the relationships REIC builds and maintains with stakeholders and allied organizations. We believe that mutually beneficial collaboration contributes to greater reach and more impactful outcomes.

Vibrant partnerships inform our efforts, advance our goals and build our potential. REIC will continue to foster strong alliances and work with stakeholders, including professional associations, regulators, organized real estate associations, educational institutions and others.

Fundamental to the execution of this plan is the successful deployment of current and emerging technologies in support of enhanced operations and communications at the national and local level. We will ensure our information management and technology systems are effectively utilized and improved to support our strategic goals and operational needs.

REIC 2017-2020 Strategic Plan 7

APPENDIX A: ENVIRONMENTAL SCAN In preparation for the 2017 – 2020 strategic planning process, the REIC Board, Staff, Chapter Leaders and other key stakeholders completed a survey designed to illuminate and identify current and trending challenges and opportunities facing members, our industry and REIC. The following themes informed the Board’s planning and shaped the directions of this Strategic Plan.

WEAKENING TRUST IN INDUSTRY

Never before has the public been so informed about real estate, in large part due to increased media attention, incalculable internet resources, and reliance on networks of friends and family. Unfortunately, there is a weakening of the trust of the consumer in the ethics and professionalism of all players in the industry sectors. Well-publicized issues of questionable real estate practices and regulatory intervention in certain jurisdictions have diminished the reputation of the industry. There are a number of real estate professionals in the country who are viewed as being in stiff competition with one another.

VALUE OF DESIGNATIONS AND MEMBERSHIP

Although there is no regulatory requirement for designations as a license to practice, most REIC members feel pride in their designation, while others perceive little value or less than anticipated. Members demand a tangible return on investment for membership dues. They see themselves as customers, not owners, with less sense of community and commitment than traditional members. Perceived value drives members’ decisions to join or renew their membership.

CHANGING DEMOGRAPHICS

New professionals look at programs and membership from a more skeptical perspective. They consider the “what’s-in-it-for-me” factor before spending what are often limited funds and time on courses and membership. Also, generational change is affecting the workplace. Younger professionals in the industry have different communication styles, learning methods, interests, and career aspirations than their older peers. More generally, cultural diversity in Canada continues to increase.

DIGITAL TECHNOLOGIES AND ONLINE LEARNING

Digital media is reinventing content-generation, sharing and learning. Online learning is the trend of the future. There is also more content-sharing across social media. Social media dominates the discussion these days and organizations need to be able to educate and communicate using these technologies.

INCREASED COLLABORATIONS

Collaborations enable organizations to help fulfill their missions more effectively. Such arrangements can create greater impact, reduce costs and help organizations achieve needed scale.

LEGISLATIVE AND REGULATORY CHANGES

Increased expectations of public protection, market fairness and accountability are driving public policy shifts. The landscape of industry regulation and policy is being reshaped. As these provincial and federal laws move to implementation, professional organizations such as REIC must respond by updating education and guidance to encompass these changing or new legal requirements.

Thank you to everyone who completed the pre-planning survey and assisted with the development of this environmental scan. Your contribution provided essential feedback and is very much appreciated.

www.reic.ca

sales leasing reserve fund planning finance property/asset management investment

Advanced courses and credentials for professionals in real estate: