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Mediation vs. Arbitration
What's the Difference?
Understanding How to Come out on Top
By Patricia Persiano
In
January of 2001 the National Association of REALTORS began requiring
local boards to offer mediation services to their members. While
CABOR has offered mediation since 1983, few members have taken
advantage of this quick and cost effective dispute resolution method. The choice is yours. Let's compare the two avenues available to CABOR members.
MEDIATION . . .
- Is a facilitated negotiation process
- Is an informal amicable resolution
- Allows the parties to clear the air and resolve misunderstandings
- Provides assistance from the Mediator to move forward
- Give both parties full control over the final resolution
- Is conducted by an experienced Mediation Officer who makes no decisions effecting the parties
- Resolution is NOT mandatory; parties can still go to Arbitration
- Is a Win-Win situation
ARBITRATION . . .
- Is NOT a negotiation process; it is a structured hearing
- Is a formal procedure decided by a hearing panel
- Allows the structured presentation of evidence, testimony and witnesses
- Gives the Panel full authority to decide the outcome
- Gives full control to the Hearing Panel
- Is conducted by a panel of experienced REALTORS who make the final decision and the award
- Hearing Panel decision is final
- Is a Win-Lose situation
In order for Mediation to work, each party comes to the table with an attitude of compromise and cooperation. They have a chance to air their feelings, look at the other side of the situation and many times, clear up misunderstandings. Many
times it becomes apparent that a third party, who is NOT a participant
to the Mediation, is the reason behind the current conflict.
These
same facts may also become evident once a dispute has moved to
Arbitration, but the parties no longer have control over the outcome.
All
of the CABOR Mediators have attended specialized training, are very
experienced and are available to answer any question you might have. Why not give Mediation a try? Your Professional Standards Committee highly recommends it and you could be part of a Win-Win situation. |
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The mission of the Cleveland
Area Board of REALTORS
(CABOR) is to be the leading resource and advocate for the real estate community, to enhance the ability, conduct
and image of its members and to protect and promote real property rights.
Housing Stabilization
NAR is fully supportive of the recent announcement that the Federal Reserve will purchase housing-related debts of Fannie Mae and Freddie Mac.
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Rose Bowl Float
Don't miss a minute of the excitement surrounding NAR's Rose Bowl parade float. Watch "behind-the-scenes” footage of the parade float's design, construction, and participation.
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