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Buying a House Confidential Role Information for Buyer Housing…
Buying a House
Confidential Role Information for Buyer
Housing values have risen rapidly in Centerville over the last few years, and you are interested in investing in a piece of real estate. Optimally, you would like to find a single-family home in the $220,000 to $235,000 range, which you could rent for a few years and then resell at a profit. You recently saw an advertisement in the Centerville Review for a house near Centennial Park (see appendix 1), which is being sold directly by its owner. Based upon the description, this house seemed like the type of investment that you were seeking. You arranged to visit the home last week. The asking price was $240,000 and you were favorably impressed.
You have since collected information on comparable houses to help you assess the worth of this house (see appendix 1). You have decided that you would like to buy the house, but not at a price in excess of $235,000. In fact, you would like to buy the house at a price as close to $220,000 as possible. However, you would be willing to go up to $235,000 before walking away from this opportunity.
Yesterday you called the owner and submitted an offer of $220,000. The owner agreed to meet with you today to discuss the offer.
Negotiation Planning Worksheets
You Opposite
Initial Offer
Opening offer
Target point/Aspiration
The best you hope to get or achieve.
Resistance point/Reservation
The least or worst you would take before you walk away.
Interests (substantive, principles, process, content, values, relationships)
1. What are my needs, aims, and
concerns? Why? (Why you want what
you want? What is the underlying
reason why you’re advocating for your
position?)
2. How do I prioritize my needs, aims,
and concerns?
3. What do I think are their needs, aims,
and concerns? Why?
4. What do I think are any key third
parties’ needs, aims, and concerns?
Why?
Position/Issues (bargaining mix)
(What do you want? Expected issues)
Alternatives to a Negotiated Agreement
BATNA
WATNA
MLATNA (3rd party outcome)
(If you walk away, what can you do on your own)
Communication Agenda
(Should you open with a statement, ask Questions, listen)
1. What do I want to learn from them?
What questions should I ask?
2. What messages do I want to convey to
them? When and how should I “send”
the messages to ensure they are
understood in the way I intend them?
3. What might be a useful “agenda” for
the upcoming meeting?
4. Have we had communication
breakdowns in the past? If so, why?
Based on this, what might I do in the
upcoming meeting to (begin to) fix
and/or avoid past communication
problems?
Option building: Mutual gain
Reciprocity! Can this build trust?
ZOPA (Zone of possible agreement)
Framing
Initial Frame
Alternate Frame
Trust, Information, Power, Options
You Opposite
Trust
High? / Low?
Type: Process or Personal
Is trust building needed?
Is time needed to build trust?
Is it necessary to preserve trust?
Information
Who has more?
Is information being shared or hoard?
Why might it be important to hear the other person’s perspective?
Power (expert, referent/charismatic, position/legitimate, coercive, reward, influence)
Power Over or Power With?
Do you value the other person’s power?
Option(S)
Pursuing one or many options?
How important is it to resolve the issue(s)?
Will you push for your option / consider theirs?
Time constraints?
Could listening to options help build trust?
Task
How important is the task?
How important is it to resolve the problem?
Do you agree with any of the possible solutions?
Do you need more time to gather data?
Is there a connection between the task and the people?
People
Do you need to work on the relationship?
Do you already have a strong relationship?
Do you not care about the relationship?
How you solve the problem can strengthen the relationship or harm it
