Negotiation Journal Rachid JABBOURI C2
Rachid JABBOURI_C2
First Negotiation : Hamilton Real Estate.
Role Played: Executive VP of Pearl Investment.
Hamilton Real Estate was my first negotiation in the negotiation class. Actually, it was not my first experience of negotiating. Back home, I used to be in charge of my family business which is a company of real estate. Therefore, I have already run many real life negotiations very similar to this particular one. My previous experiences of negotiating real estate properties sale were slightly different from what we got in class. In fact, the logic is quite similar, but the main difference is that in real life negotiations, I never used a pen and a paper. I remember using concepts like target, limit, and opening except that I have never known they had particular names.
I expected the Hamilton negotiation to give me an evaluation of my way of running real estate negotiations. I started my preparation by reading the case, understanding the context, and highlighting the most important information I was provided with. Based on the data I had collected, I realized I would be facing a complex situation that has hidden facts and that requires lots of analysis and critic to run it successfully. As an essential part of my preparation, I determined my target, limit, and opening using the facts I was provided with and assumptions I made about my counterpart.
In the case, there was in my opinion a breaking piece of information that changed my whole perception of the situation. It was mentioned, in the first place, that the land would be more probably used for residential construction due to the fact that commercial construction was not permitted by the law in the Hamilton area. Considering that info, the value of the land should be around what Quincy Dev offered us, 38 million $. There was, yet, a piece of info that had high importance in analyzing the case. We are talking here about the fact that Estate Ones’ CEO is much known for his long experience in the field,
First Negotiation : Hamilton Real Estate.
Role Played: Executive VP of Pearl Investment.
Hamilton Real Estate was my first negotiation in the negotiation class. Actually, it was not my first experience of negotiating. Back home, I used to be in charge of my family business which is a company of real estate. Therefore, I have already run many real life negotiations very similar to this particular one. My previous experiences of negotiating real estate properties sale were slightly different from what we got in class. In fact, the logic is quite similar, but the main difference is that in real life negotiations, I never used a pen and a paper. I remember using concepts like target, limit, and opening except that I have never known they had particular names.
I expected the Hamilton negotiation to give me an evaluation of my way of running real estate negotiations. I started my preparation by reading the case, understanding the context, and highlighting the most important information I was provided with. Based on the data I had collected, I realized I would be facing a complex situation that has hidden facts and that requires lots of analysis and critic to run it successfully. As an essential part of my preparation, I determined my target, limit, and opening using the facts I was provided with and assumptions I made about my counterpart.
In the case, there was in my opinion a breaking piece of information that changed my whole perception of the situation. It was mentioned, in the first place, that the land would be more probably used for residential construction due to the fact that commercial construction was not permitted by the law in the Hamilton area. Considering that info, the value of the land should be around what Quincy Dev offered us, 38 million $. There was, yet, a piece of info that had high importance in analyzing the case. We are talking here about the fact that Estate Ones’ CEO is much known for his long experience in the field,