Description: Traditionally, real estate industry disputes rely on negotiation for solutions. If negotiation fails, litigation is often initiated. Mediation involves the skillful intervention of a third-party professional to help resolve disputes that arise between two or more parties.
Source: Arbitration vs. Mediation ( Pepperdine , 2022)
There are pros and cons to both mediation and arbitration – your situation and desired outcome will determine which alternative dispute resolution is best for you.
Mediation and conflict resolution are wonderful options for business disagreements with two parties who still wish to remain friends, partners, and will perhaps work together in the future. Mediators are neutral third parties, and mediations are often not binding.