Diary of Negotiations

First of all, I would like to outline that this course was initiated to set up strong communication skills and master personal negotiating skills. It was a good practice for our future business opportunities. It was good to start a practice from everyday life examples and then move on to the discussion of a business cases. During the lecture it was interesting to go through the test, which made us understand what the strongest bargaining style inclinations are. In this diary the main focus is based on selected cases and final solutions observed in each affair.
Diary of negotiations for Hamilton Real Estate: Negotiations started by introducing each company representatives and explaining interests of both sides in selling and buying the real estate. Both sides were very friendly, open and confident. We’ve decided to establish win-win relations, as in future we can be of interest to each other.
Being the representatives of Pearl Investments, we asked our counterparts to explain what their interest was in the purchasing of Hamilton Real Estate, how they were planning to use this property and how they evaluate it. They offered price $44M. They explained that at the moment they didn’t know how they would use this property: 50% for apartment building and 50% for luxury condominium. We knew that the main sphere of business of Estate One is luxury condominiums, we thought they were cheating in order to decrease the price, as buying property for residential use can be cheaper than for luxury condominium. We explained to them that we had another customer, who was ready to purchase this property at the moment and who offered a very good price, which is higher than what they offered. But this price is confidential, so we couldn’t provide such information to them. Moreover, if local politicians would allow commercial development, this might generate additional profits to our customer and as the result the price of the land would be 2 times higher. As we knew, that the Estate