If the thought of real estate litigation makes you weary, have no fear. There are other options, like arbitration, which can save you money, time, and loads of stress. This process is run by a neutral third party, called an arbitrator, who presides over the process. The arbitrator hears both sides of the case, like a judge or a jury does in a trial. The arbitrator will then make a binding decision that leads to an arbitral award.