homework assignment 109

Exercise #3: Virtual Victoria is a real estate negotiation among four parties: buyer, buyer agent, seller, and seller agent. Through this exercise, we will also explore how the new world of information technology affects negotiations. You will be assigned to play the role of buyer, buyer agent, seller, or seller agent.

To prepare for your “role” (buyer, seller, buyer agent, or seller agent), you will need to read the confidential information about your role. Do NOT share this background information with your negotiating partner. It will ruin the fun of the exercise, and you won’t get nearly as much out of it.

Your Planning Document should cover, but not limited to, the following:

(1) Issues to be negotiated;

(2) Your position and interests on each of the negotiation issues;

(3) The priority of each of negotiation issues;

(4) Your BATNA and Reservation Point;

(5) Your Target Point;

(6) Your sources of power and negotiation strategies;

(7) Your best estimate of your negotiation opponent’s position, interests, BATNA, reservation point etc.

Please be advised that the format of the planning document is flexible; it’s for your use to get a better negotiation outcome.