Abstract

Purpose: This paper aims to investigate the stakeholder management system, within the real estate industry, and in light of the theories on negotiations and decision-making processes.
Design/Methodology/Approach: This article critically reviews research from real estate and management literatures to systematize what we already know about stakeholder management within real estate development projects.
Findings: The literature has indicated analysis as an external stakeholder should follow the following steps: i) identify the external stakeholders, ii) estimate their needs and interests, iii) analyse the potential impact these can have on decisions about the project, iv) evaluate solutions for the implementation of the project while respecting the interests of the stakeholders.
Originality/value: The influence of these subjects on real estate development projects is increasingly crucial to the success of the project itself. Therefore, it is important to identify additional management tools that allow the real estate firms to reduce problems and disputes arising from the injury of the interests of the external stakeholders. The paper is developed through a critical recognition of the literature. Discussion of literature review’s results and implications for future research follow. Finally, a theoretical model for a systemic stakeholders’ management is developed.