Or, at least, it’s killing the deal. Let’s face it; it takes a big ego to be in the real estate game. To be in real estate sales or marketing is not for the faint of heart, but to be a developer takes a special person.

A developer needs vision, confidence, charisma, the skills of a politician, deep pockets and an EGO.  But, it’s that ego that can kill a project faster than anything else.

I think this Deepak Chopra quote hits the point: “If you want to reach a state of bliss, then go beyond your ego and the internal dialogue. Make a decision to relinquish the need to control, the need to be approved, the need to judge. Those are the three things the ego is doing all the time. It’s very important to be aware of them every time they come up.”

It’s that need to control, to judge, and to be approved that can cause chaos. I mainly see this ego conflict with new developers. They’ve come to real estate developing usually after having been successful at another venture outside real estate. They then have the hubris to think because they were CEO of General Widgits or invented the Flufaltoug that means they now know what Mr. and Mrs. Middleclass sitting in Hoboken, New Jersey want in a retirement lifestyle.

My suggestion for a developer’s success: temper the ego and surround yourself with smart, trustworthy people, then trust them.

How to spot a GREAT developer, take a page from Colin Powell: “Look for intelligence and judgment and, most critically, a capacity to anticipate, to see around corners. Also look for loyalty, integrity, a high energy drive, a balanced ego and the drive to get things done.”