Reflection Paper – Bullard House Summary of Negotiation The ‘Bullard Houses’ negotiation was a one on one dispute negotiation between agencies of buyer and seller over a historic property on Bay Drive in Gotham City. In this negotiation, one party was the seller of the Bullard Houses, Downtown, Inc. This corporation was formed eight years ago by James Bullard’s descendants, to save the houses from destruction. The other party was the buyer, Absentia Ltd., which was being represented by a senior partner in Jones & Jones, a real estate firm in Gotham City. In this negotiation, the Bullard Houses are being sold and the buyer and seller negotiated the terms of a potential sale. In this negotiation, the interests of both parties were incompatible. …show more content…
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. Early in the negotiation the seller made it clear that they strictly wanted to keep the property as a residential property this seemed to be in direct conflict with my client’s plans to create a hotel. However, I decided that I would not share this information with Downtown since this would inevitably have led to the deal completely falling through). With 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. The seller was still not convinced with my plans and could not use deception strategy and lie to them about our intent and hence hinted them of our plan being more commercial. But they strictly wanted the property to remain a residential property with minimum to no commercial use. Since this was not going anywhere we decided to talk about our other concerns. Price also seemed to be a big point of conflict between us. The seller expected to receive twenty million dollars, more than their alternative offer of nineteen million dollars from Quincy Market. I knew my reservation price was twenty million dollars hence I did not proceed further. Ultimately the final agreement did not align according to our plans and Downtown Inc decided not make the deal with my client Arsentia Ltd because of lack of information on the use of the buildings and property as well as on the price. Because the deal was made between the agents the deal ended amicably and there was no bitter relationship between our clients and the