The property in question is a three$-$bedroom, two$-$bath, one$-$story house. It was listed in the local real estate multiple listings service two weeks ago at $$250,000.$ The house has the following features:

$2,100$ square feet

$$ Six years old $($one owner prior to the current owner$)$

$$ Two$-$car garage

$$ Contemporary styling $($the back wall of house is basically all glass, with sliding draperies$)$

$$ Half$-$acre lot $($no flooding problems$)$

$$ Brick exterior

$$ Built$-$in range, dishwasher, garbage disposal, and microwave

$$ Electric cooling and gas heat

$$ Fireplace and ceiling fan in the family room

$$ No fence

$$ Assumable FHA loan

$$ Master suite is located in the front of home

$$ Remaining bedrooms are across from the Master suite on the backside of the home

$$ Dining and kitchen are next to each other

$$ Kitchen is located behind the garage with entry from garage into kitchen

The New House Negotiation

Discussion Questions:

Please answer the following questions and include the negotiated agreement. This can be written

in any style. Work with all parties to develop this agreement but each person must upload.

Next, work with your teammate$($s$)$ to answer the questions. Each person must submit their individual assignment for grading.

$1.$ What goals $($target price, opening bid, bottom line, etc.$)$ did the seller$($s$)$ and buyer$($s$)$ set for themselves in the negotiation? Did they reveal these goals to their agent if an agent was used in this negotiation?

$2.$ How did the meeting with the agents reshape or redefine any of these goals?

$3.$ What did the agents tell each other about their clients$$ goals?

$4.$ What new strategies and tactics were introduced into the negotiation as a result of using agents?

$5.$ Did the agents reach an agreement? How easy was it to achieve this agreement?

$6.$ If the agents reached an agreement, did their client support the agreement? Why or why not?

$7.$ What are the advantages and disadvantages of negotiating through an agent rather than dealing with the opponent directly? Overall, does having an agent make the negotiation easier or more difficult? Why?

$8.$ What negotiation strategies were primarily used by the agents with each other? Were they effective?

$9.$ Did communication breakdown between agents and clients? What caused the breakdown if they did?

$10.$ For the $$principals$($buyers$/$sellers$),$ what was it like to have someone else try to negotiate for you? Was this a satisfactory or unsatisfactory experience?

$11.$ Did you know the appraised value of the house? How did this affect the negotiation process?

$12.$ Did you see evidence of bluffing misrepresentation or other $$dishonest$$ behavior? When? How did this affect the negotiations?

$13.$ Any team participation issues?