Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 107 views

    Negotiation Simulation 1 Park Row, Seller

    Uploaded by

    trangpggbh200738
    You own a small piece of land near your home in Greenwich that you had hoped to build a garage on. However, you are now moving to Edinburgh and the buyers of your home are only offering £10,000 for the land, far less than you paid. You decide to approach your neighbors at 1 Park Row to see if they are interested in purchasing the land since it is attached to their property. Your best alternative is to sell to the buyers for £10,000 so your resistance point is that price. You should try to discover the neighbors' resistance point to get the highest price possible for the land above the £10,000 offer.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Negotiation Simulation 1 Park Row, Seller

    Uploaded by

    trangpggbh200738
    107 views2 pages
    You own a small piece of land near your home in Greenwich that you had hoped to build a garage on. However, you are now moving to Edinburgh and the buyers of your home are only offering £10,000 for the land, far less than you paid. You decide to approach your neighbors at 1 Park Row to see if they are interested in purchasing the land since it is attached to their property. Your best alternative is to sell to the buyers for £10,000 so your resistance point is that price. You should try to discover the neighbors' resistance point to get the highest price possible for the land above the £10,000 offer.

    Original Title

    Negotiation Simulation 1; Park Row, Seller

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    You own a small piece of land near your home in Greenwich that you had hoped to build a garage on. However, you are now moving to Edinburgh and the buyers of your home are only offering £10,000 for the land, far less than you paid. You decide to approach your neighbors at 1 Park Row to see if they are interested in purchasing the land since it is attached to their property. Your best alternative is to sell to the buyers for £10,000 so your resistance point is that price. You should try to discover the neighbors' resistance point to get the highest price possible for the land above the £10,000 offer.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    107 views2 pages

    Negotiation Simulation 1 Park Row, Seller

    Uploaded by

    trangpggbh200738
    You own a small piece of land near your home in Greenwich that you had hoped to build a garage on. However, you are now moving to Edinburgh and the buyers of your home are only offering £10,000 for the land, far less than you paid. You decide to approach your neighbors at 1 Park Row to see if they are interested in purchasing the land since it is attached to their property. Your best alternative is to sell to the buyers for £10,000 so your resistance point is that price. You should try to discover the neighbors' resistance point to get the highest price possible for the land above the £10,000 offer.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    The “Park Row Land” Negotiation: The sellers

    Negotiation situation:

    You live in a house at 33 Park Row, Greenwich, London – just opposite the Greenwich Business
    School.

    You only have on-street parking, but 10 years ago you bought a small piece of land nearby for
    £35,000 because you wanted to build a garage on it. The land is close by your house but not
    attached to your property, it is adjacent to 1 Park Row.

    Earlier in 2019 you decided to move to Edinburgh, Scotland. You were lucky enough to sell the house
    quickly, but the buyer of your house is not particularly interested in this tiny bit of land. The buyers
    of your house said they would pay £10,000 for it – less than a third you paid for it! However, no one
    else is interested in buying it.

    You decided that you would approach your neighbours at 1 Park Row to see if they might be
    interested in the land, given that it is attached to their property.

    There’s no reason to believe your neighbours are interested in the land. They have never
    approached you to ask about selling it to them in the last 10 years, even when they knew from your
    ‘For Sale’ sign that you were leaving the area. Nevertheless, there is no harm in asking your
    neighbour if they are interested in buying this land from you for a sum greater than the £10,000
    offered by the buyers of your house.

    Instructions:

    You are to sell this land for as much as possible.

    Guidance:

    1. Your Best Alternative to a Negotiated Agreement (BATNA) is to sell the land to the buyers
    of your house for £10,000. As such, your Resistance Point is £10,000. In other words, do not
    sell this land for less than £10,000.

    2. While £10,000 is an absolute minimum, remember you originally paid £35,000. This being
    said, no one else is interested in this land, and you want rid of it. For the purpose of this
    negotiation exercise, there is no other potential buyer: this land will either be sold to your
    neighbours at 1 Park Row, or the new buyers of your house at 33 Park Row.

    3. Before discussing price with the potential buyer, try to probe discover their Resistance
    Point. Use this information to get the highest price you can.

    Negotiation simulation 1– The “Park Row land” Negotiation.


    Pre-negotiation questions:

    What is your target price? _______________________________________

    Post-negotiation questions:

    What is the agreed price? _______________________________________

    How happy are you with the price?

    Very unhappy

    Unhappy

    Neither happy nor happy

    Happy

    Very happy.

    Negotiation simulation 1– The “Park Row land” Negotiation.

    You might also like