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Mgt 445 Week 1 Personality and Communication in Negotiations

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Personality and Communication in Negotiations BUS / 445 September 1, 2014 Professor Kerri Buie
Negotiating the Purchase of Our Home

Negotiations are constant in life and happen to anyone who interacts with other people every day. Everything from how to a project at work is handled to negotiating the chores with your spouse is handled by negotiation. Whether we are aware of this happening or not, it is a significant part of how we interact with almost everyone. With the amount of time we spend negotiating it is surprising on how little time we spend analyzing and perfecting our negotiating skills. Communication and personality are key components of any negotiation and will be the keys in a successful outcome for everyone involved. I recently was involved in intense and long term negotiations in the fall when I purchased my first house.

The Personalities

In the beginning phases, all of the parties that would take part in the negotiation were acquainted by various means. The real estate agent that we chose was a friend of one of my wife’s work colleagues. His wife was a mortgage broker that was to assist us with the acquisition of our loan and the eventual purchase of our home. Throughout the process, however, we switched mortgage brokers due to a colleague of mine recommending a broker who turned out to be able to acquire a better rate.

The other side of the negotiation included the real estate broker for the seller and the two men who owned the house that we would eventually buy. They were two young men (a contractor and a landscaper) who purchased the home several years earlier as an investment. The house had been on the market previously so they were ready to sell but were unable to do so at the price that they were looking for.

The Negotiations

Within the negotiations of buying the

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