Business Negotiations

51, You are a real estate manager looking to buy a house in the range of GHC 210,000 to GHC 235,000, which you would rent out and later sell at a profit. Fortunately, you have found a house with an asking price of GHC 240,000, However, the seller knows that any sale below GHC 180,090 would be a total loss which she would not like to incur. Based on information you have in the marketplace, you have decided to try to buy the house but are unwilling to spend more than GHC 250,000. You have decided to offer GHC 225,000 for the house and would like to purchase it for as close to GHC 230,090 as possible. If you are unable to reach an agreement with the sellers on this house you will look elsewhere for another house in an upscale location. Unfortunately, the present house you are bargaining for is in a low-end location and so its re-sale at a higher price is potentially limited. Questions: What in your initial offer, your inferred target point, and your resistance point? by What is the importance of the resistance point? C) What is the bargaining range in the above case? Mention two possible BATNAs you could have to the negotiation situation? What type(s) of negotiation will you adopt in this situation and why? What will you do to get the best deal in this transaction and why? Describe how you will you use the imaging method to better understand the real and apparent differences between the seller and the buyer