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The Negotiating Process: Purchase of a Home

Prepare a response in which you describe a negotiation situation that you have participated in (e.g., sale/purchase of a house, car, salary, etc.).

In your answer, be sure to analyze the roles of communication and personality in negotiation and how they contributed to or detracted from the negotiation.

Solution Preview

The attached is over 1,000 words and will assist you further with your studies, as you use it as a guide for negotiating techniques. I use the example strategies that are crucial to home purchasing, as today's market is a buyer's market and the buyer must take advantage of the market.

For references, I only use the Harvard Business Essential Book on Negotiations. This book, in my opinion, is the grandfather of all negotiation books. I have the hard copy and use it often.

ABSTRACT

In 2007, I decided the time was right to purchase a home of my own. This was a new experience for me in the purchase but not a new experience to me in the role of negotiator. This paper will discuss the role of the negotiator and what negotiation skills I used to make the deal come to fruition and at the price I wanted.

First Step - Clear Communication through Evaluation

Prior to any negotiation, the product that will be negotiated needs to be located. I worked with a realtor and advised the realtor what my specifications were and also advised not to show me any home that did not meet specifications as directed. The first step in negotiations is to be clear as to what is wanted. If the message is not clear, time will be wasted on the parts of all parties involved. (Watkins 2003)

Second Step - Role Reversal

During this step, I was brought to look at many homes by my realtor. The homes were indeed what I requested and step one was complete. When negotiating, all steps are important. While viewing the properties, I put myself in the shoes of the seller. (Watkins 2003) If I were the seller, what would my bottom line price be? Is the seller relocating due to a new job or loss of job? Is the seller in debt and cannot afford the home any longer? Is ...

Solution Summary

The attached is over 1,000 words and will assist you further with your studies, as you use it as a guide for negotiating techniques. I use the example strategies that are crucial to home purchasing, as today's market is a buyer's market and the buyer must take advantage of the market. For references, I only use the Harvard Business Essential Book on Negotiations.

In 2007, I decided the time was right to purchase a home of my own. This was a new experience for me in the purchase but not a new experience to me in the role of negotiator. This paper will discuss the role of the negotiator and what negotiation skills I used to make the deal come to fruition and at the price I wanted.

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