Negotiation Bargaining for a House Lease - Research Paper Example

Negotiation Bargaining For a House Lease al Affiliation Negotiation Bargaining For a House Lease Introduction Decision making is a crucial element in any transactions. It becomes complex when more than two parties of conflicting interest get involved. Disagreements are part of negotiation and decision making only takes place when all avenues are exhausted. The complexity of any negotiation makes it difficult for parties to agree without engaging in arguments and express differences in opinions. The decision to lease the house could mean identifying a party that is interesting which involves identifying the common agenda. The other process will be triggered by differences in opinions and will be worked upon through various theories. The aim will be to identify models that will work on the differences and create room where a smooth negotiation will take palace. The final decision making process remains an integral part in any negotiation. Identifying nagging issues between the two parties and working towards a mutual agreement. An agreement is essential in any negotiation. Parties’ Prospective Goals Alfredson and Cungu’ (2008) identify goals as essential in any negotiation as they play part in agenda setting. Agenda setting remains the major objective while negotiating. In our case, the goals will be set based on the lease agreement. Information from a third party indicates that the prospective client has the same agenda. This means he is willing to lease the house for two years which is the anticipated expiry period. The client’s goals will be to minimize the overall cost of the house. His aim will base on ensuring the cost matches his valuation. The leaser in this case will be aiming at ensuring the terms match his valuation and that he maximizes on the benefits that accompany leasing of the property. The cost should be enough to ensure he affords a new property in his new location. The initial stage would be to ensure common elements are utilized while initiating any negotiation. Dependencies and Motivation The common elements between the two parties initiate a process which will be aimed at working on differences and concern in an effort to reach an agreeable solution. The motivating factor will be the two agree on the time period in which the lease should last. This hence triggers a meeting that will design a model that would be agreeable to both parties. The two parties depend on each other in that each has different objectives from the property. The interdependent nature of the two parties is what triggers a negotiation (Moore, 2005). The two parties should acknowledge that without the other party any process will not be achieved. This will motivate the two parties to work on formulas that will ensure all parties are involved and that the decision making would be based on mutual agreement. The agreeable solution should keep in mind the goals set by both parties. A third party is essential in an event two parties fail to agree (Carrell & Heavrin, 2008). Skilled negotiator The negotiation abilities may be essential in an event the lease agreement is note agreeable to both parties (Carrell & Heavrin, 2008). The aim will be to work on the common goals to ensure an agreed is reached. A skilled negotiator approach towards a given deal is essential in our case. Working on models that will ensure each party is satisfied with a given deal. Starkey et al. (2005) acknowledge the important of involving skilled negotiator technique in a complex deal. The skill will ensure the two parties broker a deal that will be based on both parties’ goals. The bargainer would consider a wide range of outcome from the deal (Carrell & Heavrin, 2008). This will ensure working on the potential outcomes to formulate a model that will ensure mutual benefits for both party involved in the lease agreement. The neutral role of the skilled negotiator will ensure that the parties work on formalities allowing parties to make informed decisions. His flexibility will allow a bargaining process that will lead to decision making process. Negotiation technique While working towards leasing the property, it essential to identify a model that will be essential towards a decision making process. The process should ensure a win/ win approach that will allow parties to work on common agendas and ensure a deal is made between the two parties. The win/ win scenarios will mean that the client gets his house in exchange I attain the monetary value of the house (Carrell & Heavrin, 2008). Setting a base is essential in any collaborative approach. This will mean that proving room for the other part to involve them fully. Working towards a solution implies that identify the core element and working on the differences. The stage is important as the client will be able to listen to the demands including my concern that he may fail to maintain the house due to his marital status. A deal made at this point should be gears towards assurance that the house will be maintained in a given manner. Cash compensation would be proposed and should be dropped if the client finds it oppressing. Availability of cognitive Biasness My perception on the client’s ability to maintain the house describes my biasness towards the potential leaser. This means that an open mind approach was not applied while initiating negotiation (Carrell & Heavrin, 2008). The approach could jeopardize potential deal and could affect my skilled- negotiator approach. The process should include both parties and identify them as equally important. An open mind will mean that judgment is made at the final stage. This will give room for smooth negotiations aimed t ensuring an informed decision is made. Conclusion The model applied while negotiating should keep in mind the goals of both parties. The negotiator should adopt an approach that allows an open- minded approach. This will mean treating all parties as equal. Setting a base during negotiation is essential as it allows both parties to work on their differences and allow solutions based on the collaborative approach. It is evident that the final decision making process remains an integral part in any negotiation. Working on formalities and designing models that will ensure agreeable conclusion is essential. At the final stage all parties should acknowledge the importance of each other and should make decisions based on formulation rather than judgments. Reference Alfredson and Cungu’ .(2008). Negotiation Theory and Practice. A review of the Literature. Rome: FAO Carrell, M.R. & Heavrin, C. (2008). Negotiating essentials: Theory, skills, and practices. Upper Saddle, NJ: Pearson Prentice Hall. Moore, C. (2005). Negotiation. Retrieved from: http://www.au.af.mil/au/awc/awcgate/army/usace/negotiation.htm Starkey, B., Boyer, M.A. & Wilkenfeld, J. (2005). Negotiating a Complex World: An Introduction to International Negotiation. Lanham, MD: Rowman & Littlefield Publishers Read More