Post-Negotiation Refection or Bullard Houses (Role: Absentia) Justine Mensik Mensik October ! "#$
Assessment of your performance
In this negotiation, I believe that prepared well. Though I did not know exactly what Downtown Inc. wanted to achieve in this negotiation, I used the information given to determine their general mindset, which seemed to be to maintain the integrity of the houses. In reading, I also determined that Downtown wanted these homes to remain residential, which was in direct conflict with my client’s plans to create a hotel. However, I decided that I would not n ot share this information with Downtown since this would inevitably have led to the deal completely falling through!."ith all of this in mind, I determined that I would try influencing Downtown to agree to a deal in which the exterior of the houses would remain untouched, and that my client would have free range with the rest of their plans. #ltimately, the final agreement closely aligned with my plans, in that Downtown agreed to sell me the homes for $%& million, with a 'no strings attached( clause and a promise that )ames *ullard would have first pick of whatever my client chose to do with the property. +y mindset with the last stipulation stipulation was that bsentia, also known as the -onrad +ilton Hotel roup, could promise +r. *ullard the opportunity to purchase one of the executive suites in the hotel tower, or leave one of the townhomes untouched so that he and his family could utili/e it. This final deal was also a success in terms of price, which was actually $% million lower than my targeted purchase price. "hat was problematic in this negotiation negotiation was the final understanding of what our agreement was. 0rom my perspective, the 'no strings attached( clause meant my client had free range with their plans, meaning they would be allowed to change the /oning from mixed residential to commercial. However, the representative for Downtown didn’t
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Post-Negotiation Refection or Bullard Houses (Role: Absentia) Justine Mensik October ! "#$
ask a lot of 1uestions as to what I meant by 'no strings attached(, and didn’t reali/e my client meant to change the /oning. 2therwise, it is unlikely Downtown would have agreed to this deal. dditionally, I engaged in ethically 1uestionable practices, such as shielding information, which ultimately led to me lying. I told Downtown that I was unaware of what my client’s plans for the property were, when in fact I knew of the hotel plans. In the end, I’m displeased with the fact that I lied, and displeased that if this were a real scenario, it is likely the deal would fall through when writing the contract. If it didn’t fall through in writing the contract, it is likely Downtown would sue when bsentia attempted or successfully changed the /oning. Plans for Improvement
In reflecting on this negotiation, I could have asked Downtown what was most important to them in selling the houses. I had my own assumptions as to what they desired, and let my assumptions guide my negotiating. I could have asked them more 1uestions as to what their ultimate goal was, and could have framed my 1uestions and statements in a way that would make Downtown more comfortable and agreeable with my client’s plans. 0or example, I could have asked, '"hat vision does +r. *ullard have for his houses3( or '"hat would +r. *ullard be comfortable with, in terms of future renovations and construction plans3( In asking such 1uestions, I could have seemed more empathetic, which would have put Downtown at ease with this agreement. dditionally, instead of saying I didn’t know what my client’s plans were which was a lie!, I could have said that I didn’t have the liberty to reveal the plans. "ith these changes, I believe I would have performed this negotiation more honestly, and with integrity intact. I didn’t
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Post-Negotiation Refection or Bullard Houses (Role: Absentia) Justine Mensik October ! "#$
have to reveal all of the information to remain honest. In further negotiations, I believe I need to ask more 1uestions in order to discover the other partys! goals. In figuring out their goals, I can determine if they align with mine or not. If they do, I could focus on our similarities in order to reach an agreement, which is a key in successful integrative bargaining. If their goals do not necessarily align with mine, we can discuss the issues! and make concessions towards a final agreement. I feel I am evolving in terms of my planning. I have gotten better at planning my negotiations, in that I am more 1uickly able to identify issues most important. 2nce I have determined the issues of importance, I’ve been able to use various tactics to achieve my goals. 0or example, I’ve been successful when I’ve minimi/ed issues of importance to me. The other party doesn’t know that the particular issue means something to me, and he5she has accepted my proposals on the particular issues. I would assume it is because the issue isn’t necessarily important to them, and he5she wants to settle on an agreement and move on.
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