How can you build trust with your team as a Real Estate Development leader?

Clear and frequent communication is by far the most important variable to building trust with your team. Moreover, it's not just frequency of communication, but the value of what you are conveying. Real estate development only works when each party/department/team lead understands how their function impacts the workflow, timeline and success of other departments within the organization. This is perhaps where I have seen the most breakdown and dysfunction develop over the lifecycle of the project. Don't work in a silo, step back and see the big picture and remain cognizant of how your particular widgets impact the efficiency of the entire machine.

Building a strong team is the cornerstone of any successful real estate development project. To achieve this. Regular team meetings, open communication channels, and clear expectations are crucial. Communication is equally important when dealing with stakeholders and regulators. Transparency, clarity, and timeliness are key. We must keep stakeholders informed of project progress, address concerns promptly, and maintain regular communication through established channels such as email, project management software, and dedicated stakeholder meetings. By adhering to these communication practices, we can build trust, navigate regulatory requirements smoothly, and ensure the success of our projects.

Department leads have a lot of responsibility on their shoulders and responsible, high achievers have a tendency to micro manage. to truly be successful and exceed expectations, you have to empower others to build upon the framework you've established as a leader. You have to ensure your team members are capable, but holding loose reigns on the work product of others allows them to develop ownership and pride in what they are managing and putting forth within the organization. Step in when, needed, but otherwise, trust your team to do what is needed, knowing their success is a reflection of yours.

In real estate development, where projects are complex and deadlines are tight, effective delegation is key to success. I believe in empowering my team by carefully matching tasks to their skills and interests. I involve them in the planning process, clearly define goals and expectations, and provide them with the resources and authority they need to make decisions and solve problems independently. I then offer regular feedback and support, celebrating their successes and encouraging learning from any challenges. This approach not only boosts team morale and productivity but also fosters a culture of ownership and accountability, leading to consistently high-quality outcomes.

Never let problems fester. Real estate development is a long race and often an exhausting one. Sometimes it seems easier to just 'let it ride' when it comes to conflict and disagreements. Taking a passive position almost always leads to further erosion of trust, lack of respect and disregard for the position and viewpoint of the opposing party. It's always best to face a challenge head on, while always being respectful and open, but not afraid to have hard conversations in the interest of finding the best solution.

The 'golden rule' applies in every industry, for every position and for every function. Always treat others the way you want to be treated and move forward with your work with your 'highest and best' actions that consider what is best for the whole. You may have to make personal sacrifices in the short term with this approach, but you will come out miles ahead in the long run with the respect, opportunity and self-esteem you gain from committing to servant-based leadership and self-governance founded upon acting with integrity.