Property Business Management Report: Skills, ADR, Negotiation, SWOT

This report provides a comprehensive overview of managing a property business, emphasizing the essential skills required for success. It delves into the significance of developing career management skills, including leadership, time management, prioritization, communication, and research and analysis. The report explores various methods for resolving property disputes, with a focus on Alternative Dispute Resolution (ADR) techniques such as arbitration, mediation, and conciliation. Furthermore, it examines the application of negotiation in the real estate industry, illustrating its use in scenarios involving buyers, sellers, and dispute resolution. A SWOT analysis is presented as a tool for self-development, highlighting strengths, weaknesses, opportunities, and threats. The report concludes by summarizing the key findings and emphasizing the importance of effective property business management practices.

MANAGING
PROPERTY BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Developing Career Management Skills.......................................................................................1
Range of Methods available for resolving Property Disputes.....................................................2
Application of Negotiation to Real Estate...................................................................................2
SWOT Analysis as tool of Self-Development.............................................................................2
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
In order to successfully manage property business there are certain components which
need to be kept in mine (Den Uijl, Bekkers, and de Vries, 2013) . For instance, one requires to
have certain set of skills which are both inculcated or acquired throughout one's life or are
possessed by one since they are born. Apart from this an individual operative in Real Estate
Industry must also be an excellent negotiator and be aware of different dispute resolution
approaches. This report aims to provide insights in relation to transferable skills, Alternative
Dispute Resolution (ADR) and Application of Negotiation to Real Estate Industry through real-
world examples. Additionally, a SWOT Analysis has also been carried out to illustrate how self-
reflection can be utilized as a tool of self-development.
MAIN BODY
Developing Career Management Skills
Career Management Skills are a set of abilities, knowledge as well as cognizance that
facilitate moulding of an individual's aspirational career aims into substantial actions in a
confident manner which ultimately results in creation of opportunities at the workplace,
specifically in terms of ongoing learning options available to such persons. Thus, one needs to
keep improving these skills throughout their life so as to ensure that they are able to work
smoothly in a competitive environment and evolve into confident career managers. In the context
of given case scenario, some of the transferable skills that have been gained by me over the
coursework are as discussed below:
Leadership:
It is important skill for me which can help to become good leader to lead a group for
assignment. The particular skill extremely versatile for me to motivate team members to achieve
shared goals, leading a assignment and help to understand different activities (Baratè, Haus,
Ludovico and Perlasca, 2015) .
Time Management:
It is considering as Vital skill for any role, that not only proves I can work to deadlines
but also that I am able to complete provided task in specific time. To complete task there is
required to discuss with team and provide work according to their skill.
Prioritisation:
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Prioritising task is important for me because it can help me to achieve anything on
particular time with high standards. So it is a reason the vast majority of students value. During
to assignment I can face many problems such as task difficulties and work load so with the help
of skill prepare schedule to do every work of assignment.
Communication:
It is very important to complete any assignment because every group member discuss
about the task which is possible through communication. I can improve my communication skill
during to assignment time and focus on every part to contribute to smooth run with my team.
Research And Analysis:
To complete of assignment I can play many roles which can help to analysis of different
situation. As a result I can improve my knowledge criteria and affect to other skills as improving
way (Li, Gray and Buhalis, 2013) .
Range of Methods available for resolving Property Disputes
Dispute resolution of property is the processing of resolve a dispute in among the parties.
It is also known as conflict resolution and there are number of processes which can use to sort
out conflicts, dispute and claims. Alternative dispute Resolution is a method and their processes
provide benefits. Most of the parties selected ADR while they have attorney and states to ways
of introducing and setting disputes. There are discussed different methods of ADR which can use
to resolving property disputes -
Arbitration
Arbitration is a method which can use to sort out disputes with the help of settlement. It
can mainly apply to provide help to third party and similar to an informal trial. According to this
method listen to both parties, the third party issues a decision that the disputing parties may be
agreed to be binding or non binding. The advantage of arbitration to provide more flexibility to
parties and help to apply discovery rules.
Mediation
It is another method of alternative dispute resolution for the parties. Mediation is mainly
consider as negotiation which can provide by neutral third party. It can arrange joint meetings
where meet with disputing party to discuss about the appropriate solution. These are set on the
basis of particular structure and provide advice and guidance.
Conciliation
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Conciliation is another method of alternative dispute resolution and there are appoint a
conciliator by each parties. The particular person meet with both parties separately and discuss
about the conflicts. In the end find out the reason and reduce to differences to sort out of dispute.
The advantage of this method, it allows the parties to create control over the outcome of their
dispute and it will provide satisfactory results in the end of disputes (Marzen, Prum and Aalberts,
2016) .
Application of Negotiation to Real Estate
Negotiation is a method which can use by people to settle differences. It is indicate that
compromise or agreement is reached due to ignore argument and dispute. It is considering as
strategic discussion which relates to issues origin in between both parties. By negotiating, all
parties try to ignore arguing agree to reach some form of compromise. Negotiation is applying on
real estate to reach particular discussion -
Buyer and Seller – Negotiation applied on the real state in the reference of buyer and
seller because the buyer wants to reduce amount of the property but seller do not want to sale out
in low amount. That time they can use negotiate to settle amount at particular price. For example
– A family moved to a new town and they are living in a a month to month on rental and have
finally found the perfect house to buy. But there are seller is being unreasonable and recognise
that the house in the market for $60000 but after research it is getting that the fair price of the
house would be $500000. The buyer
Dispute solution – Negotiation can use in real estate to sort out dispute in between
parties because there is no third part which can assist the parties. Both parties are working
together to come for compromise. Most of the parties selected to perform their attorney during
negotiations. So it will apply by parties to sort out their disputes in effective manner and it can
help to understand about the issues. For example – A party can buy house from real estate that
time house can not according to them so they can complain in court and create dispute. Due to
negotiation appoint third part which can discuss to both and sort out dispute (Lewis, 2014) .
Power & Authority – In real estate company top management can provide power and
authority to people according to their skills but that time create problems which can solve by
negotiations. For example – In ABC Ltd provide authority of project a individual people on the
basis of work as a result same position of other person do not like it and create conflicts so that
time apply negotiations in real estate company.
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SWOT Analysis as tool of Self-Development
SWOT analysis is a set framework which can use by companies as well as individual to
determine of their strength, weakness, opportunities and threat. It can help to know which type
factors mainly affect to their personality. It is based on realistic, fact based data.
 Strength – The particular term mainly related to positive element where defined about
the strength of individual person. During to course I can analysis that my strength is good
leader which can influence to people easily (Trenberth and Hassan, 2013) .
 Weakness – There are defined about the negativity of individual person and it will
become reason of barrier in a growth. When I was conducted assignment with my team
that time I can face problem of lack of time management skills. I can not easily decide
how to manage every task in proper manner.
 Opportunity – It defines about the positive possibility which can help me to achieve
growth in my career. During to my assignment I can research and analysis for various
things so as a result I can get various types of knowledge from different area.
 Threat – It is considering as negative issues which can play essential role in the progress
of an individual. There are identifying threat that complete task in specific time with full
efforts (He, Wang and Akula, 2017).
CONCLUSION
As per the above report it has been concluded that managing property business is
important for business. During to business create many types of conflicts as well as disputes
which can sort out through different methods such as Arbitration, mediation and collaboration.
There is need to management skills which can help to develop self skills in effective manner.
Through SWOT there are analysing of self and know about strength, weakness, opportunity and
threat.
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REFERENCES
Books and Journal
Den Uijl, S., Bekkers, R. and de Vries, H. J., 2013. Managing intellectual property using patent
pools: lessons from three generations of pools in the optical disc industry. California
Management Review. 55(4). pp.31-50.
Baratè, A., Haus, G., Ludovico, L. A. and Perlasca, P., 2015. Managing Intellectual Property in a
Music Fruition Environment. IEEE MultiMedia. 23(2). pp.84-94.
Li, L., Gray, D. E., John Lockwood, A. and Buhalis, D., 2013. Learning about managing the
business in the hospitality industry. Human Resource Development Quarterly. 24(4).
pp.525-559.
Marzen, C., Prum, D. A. and Aalberts, R. J., 2016. The New Sharing Economy: The Role of
Property, Tort, and Contract Law for Managing the Airbnb Model. NYUJL & Bus. 13.
p.295.
Lewis, J. I., 2014. Managing intellectual property rights in cross-border clean energy
collaboration: The case of the US–China Clean Energy Research Center. Energy policy.
69. pp.546-554.
Trenberth, L. and Hassan, D. eds., 2013. Managing the business of sport: An introduction.
Routledge.
He, W., Wang, F.K. and Akula, V., 2017. Managing extracted knowledge from big social media
data for business decision making. Journal of Knowledge Management. 21(2). pp.275-
294.
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