5 Ways To Deal With Business Conflict
By Paul Esajian on August 19, 2016
As a real estate investor you deal with dozens of people all the time. People like your real estate agent, contractor and attorney speak with you almost daily. Other people such as buyers and sellers you talk to less frequently but the interaction is still meaningful. All it takes is one person to have a negative opinion of you or how you do your business to create a potential conflict. When a conflict occurs there are typically two things that can happen. The first is that you take a step back and smooth things over. The second is that you fly off the handle and scream and yell and everyone in your way. If you want a long and successful investing business the first option is the only way to go. Taking the high road isn’t always easy but it is essential for the health of your real estate career. Here are five ways to help deal with any business conflict.
- Don’t Act When You Are Angry. You never know when conflict is going to arise. A seller may attack you for an offer you made. A contractor may not appreciate your way of creating motivation. You and your attorney may butt heads at times. There are several potential conflicts you can face every day. The real estate investing business can be intense and there are times when conflict cannot be avoided. If you are faced with conflict the first thing to you need to do is take a step back and defuse the situation. Never say anything you regret that can have a lasting impact on your reputation. Instead of sending a scathing email wait an hour or two and see how you feel. Reacting when you are angry usually leads to regret. It is difficult to walk away in the heat of the moment but nobody wins during conflict.
- Talk It Out. As obvious as it sounds when there is conflict you need to get to the bottom of why. You don’t want to stay at odds with your attorney or contractor for too long. A little conflict is ok but when it lingers it starts to become counterproductive. Instead of staying silent reach out and find out exactly what the other party wants. In most cases the issues are easily correctable and minor in nature. However, it is usually the little things that can become big problems if not dealt with over time. Issues with returning phone calls or responding in a certain way can be problematic if not dealt with quickly. Whatever the problem is don’t let it linger. Sometimes the most basic solutions are the most overlooked. Don’t be afraid to face conflict and talk to whoever you are having a problem with.
- End On Good Terms. You are not going to be best friends with everyone you do business with. Some people just don’t share the same ethics or philosophy as you do. This doesn’t mean you need to end your relationship on bad terms. What you will find is that even if you are in a large market there are only so many people in real estate. Bad word of mouth travels fairly quickly. There is no need to create enemies where you don’t have to. You don’t have to be business partners with everyone but you should always remember that you may see that person again down the road. The real estate business has a way of finding people. Sometimes you need to grit your teeth and exit a relationship on good terms to save face down the road. You may not like, or appreciate, it now but at some point in the future you will be glad you did.
- Take The High Road. Some of your conflicts may take place on one of the various social media platforms. This is the worst possible place to engage in any conflict. For starters everything you do can be date and time stamped. Secondly social media has a much larger reach that you realize. With just a couple clicks of a mouse you can reach hundreds of people at once. This can help form a reputation that may be too difficult to change. If you find yourself in a social media battle you need to always take the high road. People may not even remember what you said but the fact that you got involved in the first place. There is a time and place to defend yourself but unfortunately social media should not be it. If someone is attacking you the best thing to do is ignore them. If you have been in the business for some time you have probably built up enough equity where other people will stick up for you. The more you bring yourself down to their level the worse you look. Sometimes this is all that matters.
- Never Take Things Personally. If a conflict does linger it is important not to take things personally. Things may be said and done to you in the moment that you can’t avoid. Instead of not working with that person again or vowing to get even you need to let it roll off your back. If you take personal offense every time a barb is thrown your way you may not last very long in real estate.
Fighting conflict takes too much time and effort. If you fly off the handle at every little thing people will not want to work with you. Conflicts happen with every investor from time to time. Use the five tips to help deal with conflict the next time you are faced with it.