189997726 Bullard Slides Only
Bullard Houses: Interests and
Buyer (Absentia)
Seller (Downtown
Co.)
BATNAs of Parties
Interests
Interests
Preservation
Residential
No poor press
Room for James Bullard
Money
BATNA
Quincy style market:
$19 million
Residential brownstones:
$15 million
Confidentiality
Money
BATNA
Alternative site at $20 million--important not to leak b/c price of site could go up
$24 million reservation price Negotiations - Terri K
1
Bullard Houses: Bargaining
Zone
Positive bargaining zone with regard to finances $19 million reservation price for Seller
$24 million reservation price for Buyer
Negative bargaining zone with regard to interests
Seller wants to maintain residential with reputable, known buyer
Buyer wants to convert to commercial, maintain anonymity
Negotiations - Terri K
2
Quotes
Buyers:
Sellers:
“Concealing the real use of the property was a challenge in this negotiation. I had to appear as though I was negotiating with the other party on their requests all the while knowing that most of their requests would not be met. I also had to make sure that I did not agree to anything that would preclude the real plans of the client.”
“At no point did I acknowledge that I had information as to the plan for the property.”
“I completely lied through my teeth on this negotiation!!!” “To me I couldn't get to his
Interests because he seemed to be only the negotiator and he wasn't authorized to reveal the commercial plans. To me this violated one of my basic interests as I understood the situation. In fact, I was a little leery of the intentions of Absentia since all I could tell they were willing to do was keep the original walls of the place standing.”
“Really, any question I asked did not produce a clear, concise, committed answer.”
Negotiations - Terri K
3
Four Types of
“Ethical Misbehavior”
Lies: “We plan to make the property into a concert hall” or “I don’t know what they want to do with it”
Buyer (Absentia)
Seller (Downtown
Co.)
BATNAs of Parties
Interests
Interests
Preservation
Residential
No poor press
Room for James Bullard
Money
BATNA
Quincy style market:
$19 million
Residential brownstones:
$15 million
Confidentiality
Money
BATNA
Alternative site at $20 million--important not to leak b/c price of site could go up
$24 million reservation price Negotiations - Terri K
1
Bullard Houses: Bargaining
Zone
Positive bargaining zone with regard to finances $19 million reservation price for Seller
$24 million reservation price for Buyer
Negative bargaining zone with regard to interests
Seller wants to maintain residential with reputable, known buyer
Buyer wants to convert to commercial, maintain anonymity
Negotiations - Terri K
2
Quotes
Buyers:
Sellers:
“Concealing the real use of the property was a challenge in this negotiation. I had to appear as though I was negotiating with the other party on their requests all the while knowing that most of their requests would not be met. I also had to make sure that I did not agree to anything that would preclude the real plans of the client.”
“At no point did I acknowledge that I had information as to the plan for the property.”
“I completely lied through my teeth on this negotiation!!!” “To me I couldn't get to his
Interests because he seemed to be only the negotiator and he wasn't authorized to reveal the commercial plans. To me this violated one of my basic interests as I understood the situation. In fact, I was a little leery of the intentions of Absentia since all I could tell they were willing to do was keep the original walls of the place standing.”
“Really, any question I asked did not produce a clear, concise, committed answer.”
Negotiations - Terri K
3
Four Types of
“Ethical Misbehavior”
Lies: “We plan to make the property into a concert hall” or “I don’t know what they want to do with it”