For The Bullard Houses negotiation I was assumed the role of the buyer’s representative. Upon reading the case for the first time, I knew it would be very challenging to negotiate with the seller when I was instructed not to reveal the intended use of the site I was looking to purchase. I prepared by making a list of what I had to keep in mind not to mention as well as the points I wanted to stay within. I had a resistance point of twenty four million and an alternative offer of twenty million, therefore I was going to start my offer around sixteen million if I was offering the opening bid. However, the “seller” I was partnered with had already performed this negotiation, so I took it into my best interest to observe another negotiation and write this journal entry on the actions they took.
Early in the negotiation the seller made it a point to let the buyer know they were concerned about keeping the site residential as opposed to selling the land for commercial purposes. At this point the negotiation was all about what to disclose and what not to disclose. I was very interested to see the path that the buyer was going to take in order to assure the seller that it was not going to be completely commercial, such as a shopping center or mall. Because this site was not exactly what you would consider an inexpensive exchange, it seemed to continue to be important to the seller throughout the negotiation that they sell the land in the city’s best interest. After beating around the bush for a few minutes longer, the buyer revealed that they were looking into a development in either condos or hotels. He mentioned that there may be a few small shops as well but nothing as intense as a shopping center. I was surprised that the buyer came right out and said what they were looking into, because it was stressed pretty strongly that Absentia Ltd. did not want this revealed under ANY circumstances, and in an important negotiation such as this type it is important to stay...
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