How can you manage communication and conflict with real estate development partners?

1 Establish clear roles and responsibilities

One of the first steps to avoid communication and conflict problems is to define the roles and responsibilities of each partner in the development process. This can be done through a written agreement that outlines the scope, budget, timeline, deliverables, and decision-making authority of each partner. Having a clear and formal agreement can help prevent misunderstandings, confusion, and disputes later on.

2 Communicate regularly and effectively

Another key factor to manage communication and conflict is to communicate regularly and effectively with your partners. This means sharing relevant information, updates, feedback, and concerns in a timely and transparent manner. You can use various tools and methods, such as emails, phone calls, meetings, reports, and dashboards, to keep everyone on the same page. You should also establish a communication protocol that specifies the frequency, format, and recipients of each communication.

3 Respect and value diversity

Real estate development partners often have different backgrounds, experiences, skills, and opinions. This can be a source of innovation and creativity, but also of tension and conflict. To manage this, you should respect and value the diversity of your partners and acknowledge their contributions and perspectives. You should also avoid making assumptions, judgments, or stereotypes based on their differences. Instead, you should seek to understand their motivations, needs, and expectations.

4 Negotiate and compromise

Sometimes, communication and conflict issues cannot be resolved by simply clarifying roles, communicating effectively, or respecting diversity. In these cases, you may need to negotiate and compromise with your partners to find a mutually acceptable solution. Negotiation and compromise require you to listen actively, empathize, express your interests and concerns, explore options, and reach an agreement that satisfies both parties. You should also be flexible, respectful, and fair during the negotiation process.

5 Seek external help

If communication and conflict issues persist or escalate, you may need to seek external help from a third party, such as a mediator, arbitrator, or lawyer. These professionals can help you resolve the issues in a neutral, impartial, and confidential manner. They can also help you avoid litigation, which can be costly, time-consuming, and damaging to your reputation and relationships. However, you should only resort to external help as a last option, after exhausting all other possible solutions.

6 Learn and improve

Finally, you should learn from your communication and conflict experiences and improve your skills and practices for future projects. You can do this by soliciting feedback from your partners, evaluating your performance, identifying areas of improvement, and implementing changes. You can also seek training, coaching, or mentoring to enhance your communication and conflict management skills. By learning and improving, you can build trust, rapport, and collaboration with your partners and achieve better results for your projects.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?