Real Estate Negotiations

I.      On a daily basis we negotiate for daily resources; like
choosing a gas station with the right price, what to spend on dinner,
who has the better happy hour? Yet there are certain fields in which
negotiating may have more impact on you and your cost of living, like
real estate. In real estate every party involved wants to get the best
price. With several parties wanting more and not going by the rules,
it gets harder and harder to get a fair deal. When making a purchase
the buyer and seller enter into something that is called a negotiating
process. Both parties want the best out of the deal, the seller wants
the highest price and the buyer wants the lowest price. In order to
find a common ground, ethics and merit in real estate must be
considered to be the primary source to negotiating. Although when
dealing with real estate, several parties might argue that there price
is right, if you don’t argue using merit and good ethics you may not
be successful in reaching an agreement.

II.     Can ethics be taught?

III.    Step by step to negotiating with merit using
principled/integrative negotiation. Separate people from the problem.
Focus on interests, not positions. Developing objective criteria like
market value, precedent, scientific judgment, what a court would
decide, moral standards, equal treatment, cost, etc. Invent an option
for mutual gain.

IV.    Pros and Cons to negotiating with merit.

V.     Conclusion.

References:

Smith, Christopher. “Ethics play important role on all fronts for real
estate investors.” Bizjournals.com. Houston Business Journal, 27 Oct.
2006. Web. 17 Oct. 2009.

Velasquez, Manuel, Andre, Claire, Andre, Shanks, Thomas, S.J., and
Meyer, Michael J. “Can Ethics Be Taught”. Scu.edu. Santa clara
University, 1987. Web. 17 Oct. 2009.

“National Fair Housing Training Academy Gets Permanent Home”.
appliedlearningsolutions.com. Patricia Roberts Harris: National Fair
Housing Training

Academy, n.d. Web. 17 Oct. 2009.
Hejl, Roselind. “Top 7 Ways To Negotiating the Real Estate Contract”.
top7business.com. Christopher M. Knight’s Top7Business, n.d. Web. 17
Oct. 2009.

Fisher, Roger and William Ury. Getting to Yes: Negotiating Agreement
Without Giving In. New York, NY: Penguin Books, 1983.


Team members: Jose Villarreal, Jose Alvares, and Luis Ramirez.