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
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18 April 2007. Abstract Negotiation‚ both an art and a science‚ is important in business and in personal life. To negotiate intelligently‚ we need a strategy to help identify when‚ for what‚ and how we should negotiate. We consider a one-to-many negotiation problem such as a house-purchase process in which there is one buyer and many sellers. The alternatives are evaluated using multiple criteria‚ but only one criterion (such as price) is to be settled by negotiation. We use the Best Alternative
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What Issues are Most Important to You? Primarily‚ we must be absolutely certain that the Houses will not be destroyed. Commercial uses are unacceptable unless they are at least as tasteful as the Grouse proposal. Any uses that have the potential to generate bad press for Mallory or Myles is not a valid option‚ while good press is an added bonus. Giving James the potential of purchasing a refurbished unit is a plus as well. A secondary concern is maximizing the sale price‚ but only if the initial
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PLANNING DOCUMENT FORM Negotiation: Role: Seller What issues are most important to you? (list in order of importance) 1. Keep houses intact 2. Commercial uses only if tasteful as Grouse´s proposal 3. Avoid bad press 4. Generate good press 5. Maximize sale price What is your BATNA? Reservation Price? Target? BATNA: $ 13 million for 100% of Downtown´s shares or proportional with a minimum of 70% of its shares while commercial uses tasteful as Grouse´s proposal Reservation
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“The Bullard Houses” is a case in which Downtown‚ a corporation formed by James Bullard’s descendants‚ is seeking for a buyer for the site that has been saved by Downtown from destruction. The reason behind this potential deal is because Downtown is in a great cash shortage. There are two parties current interested in this site‚ including Absentia‚ the client I as a senior partner in Jones & Jones represent for. The resulting negotiation between the representative of Downtown and me covers a couple
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PROGRAM ON NEGOTIATION AT HARVARD LAW SCHOOL AN INTER-UNIVERSITY CONSORTIUM TO IMPROVE THE THEORY AND PRACTICE OF CONFLICT RESOLUTION THE BULLARD HOUSES Confidential Instructions for the Buyer’s Representative You are a fast-track real-estate lawyer in Gotham representing Absentia‚ Ltd.‚ a Liechtenstein corporation owned by a Bahamanian blind trust. (Such a complicated corporate structure is frequently used to make it hard for others to find out an actor’s true identity. It is commonly used‚ as
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Pre-negotiation Analysis for Bullard Houses Jiahui Jiang Part I 1. Your Client’s (Absentia) Interests Confidentiality Not to reveal your client’s interest in Gotham Not to reveal your client’s identification Not to reveal your client’s BATNA Money Rights to change the zone area into commercial use 2. Other Parties’ Interests Downtown Preservation Save houses from destruction‚ maintain their historical structure Reputation Maintain the symbol of power and privilege Residential Eventually sell houses
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Negotiated Agreement A party’s BATNA is a measure of the balance of power among the negotiating parties based on the resources they control or can influence to respond to their interests that will be addressed in a given negotiation. “walking-in” BATNA‚ that group of resources in your pocket before negotiation begins‚ and the dynamic BATNA that changes as you gain information during the negotiation process gives you a sense of whether to undertake a negotiation and whether to quit once the process
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Ethics and Agency Issues in Negotiation Prof. Sungu Armagan “Bullard Houses” Negotiation DOWNTOWN‚ Inc. Downtown Reality seller representative ABSENTIA‚ Ltd Jones & Jones Reality buyer representative 2 Ethics and Agency Issues “Bullard Houses” 3 Agreements on board 4 seller buyer BATNA rp interests 5 Instructor version Going through agreements on board 6 Instructor version Bargaining Zone 7 Instructor version Debrief 8 Instructor version Debrief 9 Is it ethical
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PROGRAM ON NEGOTIATION AT HARVARD LAW SCHOOL AN INTER-UNIVERSITY CONSORTIUM TO IMPROVE THE THEORY AND PRACTICE OF CONFLICT RESOLUTION THE BULLARD HOUSES General Instructions The Bullard Houses are situated on Bay Drive in Gotham City. Gotham has a population of 800‚000 within the city limits and 4 million including residents in the greater metropolitan area. The Bullard Houses‚ built in 1884‚ are located at the edge of Gotham’s historical district. "Houses" is a misnomer: they are actually a single
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