We have spoken before about the importance of speed and rapid decision making in real estate development. But in practice, it’s obviously a little more complicated than just being good at making quick and high-quality decisions. And that’s because building a building is complicated and it requires teams of people, all working toward the same goal. Some of these people will be internal to your organization, but many will be external, which is a feature that further complicates matters. Because it means that, to varying degrees, there are critical path items — items that control your overall project schedule — that are not fully in your immediate control. This is one of the things makes development and construction so challenging.
Now, ordinarily, when a team is being assembled people will talk about their project experience, their systems and fancy tech, and perhaps some of the awards they’ve won because of their extreme talent. But what doesn’t often get talked about is the simplest and most basic of things: You want people who will do what they said they would do, when they said they would do it. In other words, you want responsive and reliable people. This sounds pretty banal, which is maybe why it so often goes unspoken, but it’s fundamental to the success of a project. The other nuance to this is that, most of the time, it’s less about the company itself and more about the individual human who will be working on the project. Is that person good?
Just being responsive, reliable, and on top of things goes a long way. These are the kinds of people you want on your team and it’s how you move fast.
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