In real estate, ambition can often lead us to prioritize deals, profits, and growth. But sometimes, the most valuable assets are the relationships we build along the way. I recently experienced a humbling reminder of this truth, and it’s a lesson that might resonate with many who are striving to grow their businesses in this fast-paced industry.
Reflecting on a Misstep
I’ll be honest—I made a mistake. I was eager about a new deal, driven by ambition, and in my rush, I neglected the importance of maintaining integrity with a close partner. I was so focused on the potential success of the deal that I didn’t consider how my actions might impact a long-standing relationship. As a result, I hurt a partner’s trust, leaving them questioning my integrity.
Money vs. Relationships
This experience taught me a fundamental lesson: relationships matter more than money. Yes, financial growth is important, but it shouldn’t come at the cost of the connections we’ve built. Maintaining strong relationships doesn’t just sustain business—it enriches us personally and professionally. As the saying goes, “If you take care of the relationships, the money will take care of itself.”
In real estate, we constantly juggle various responsibilities. We have obligations to tenants, sellers, vendors, and, importantly, our partners. Each of these relationships deserves respect and attention, as they’re integral to long-term success.
Integrity Is Key
Integrity is the foundation of any successful business relationship. When we commit to something, we must follow through or communicate openly if circumstances change. Real estate deals can be complex, and sometimes, things don’t go as planned. In those moments, transparency and honesty are crucial. A quick check-in or a simple explanation can often go a long way in preserving trust.
How to Handle Conflict in Business
Reflecting on this experience, I’ve learned that it’s okay to make mistakes as long as we learn from them. Here’s how I approached making things right:
- Self-Reflection – I had to examine why I made this decision. Was it driven by greed, haste, or lack of discipline? This level of honesty helped me understand where I went wrong and how to avoid similar pitfalls in the future.
- Apology and Amends – A sincere apology can begin the healing process. It might not fix everything, but it shows your partner that you value the relationship and take responsibility for your actions.
- Long-Term Perspective – In any decision-making process, we need to prioritize long-term relationships over short-term gains. If something doesn’t align with your values or might harm a valuable relationship, it’s okay to step back and rethink your approach.
Moving Forward with Integrity
For those of us building our businesses, let’s remember that integrity, honesty, and respect are the best tools we have. We don’t just want to grow our businesses; we want to build something sustainable, something that stands the test of time. And that requires holding ourselves accountable to the highest standards.
In real estate, as in life, relationships are everything. When we approach every deal and every partnership with this in mind, we’re not just making a profit—we’re building a legacy. Let’s all strive to grow with integrity and make sure our actions reflect the values we want our businesses to stand for.