Negotiation - Assignment
Boost your academic performance today with free assignment samples provided by the Best Assignment Writing Service Australia.
1. As Steven’s Manager – Key Discussion Points
A. Negotiation skills and the role of the real estate professional
Make Steve aware of the fact that it is not possible to negotiate after the last inspection process until there is any scope of aby breaching actions to take place (Babcock, and Laschever, 2021).
He should maintain is code of conduct in any pressure, being confident, calm and be professional in approach
He is required to have clearer vision regarding his role as mediator between the sellers and buyers, and need to think twice before accepting any demand from any party as this would require the consent of both parties.
Buyers should have clearer statements from him reading the buying contract and gradual reminders on regular intervals regarding buying terms and conditions, on what they had agreed initially before purchasing.
B. Dispute management and the role of negotiation
Making steve learn the thing that each and every complaint or negative feedback is equals to challenges, that may be solved through effective communicative skills
Supports the need of acknowledging at first rather being appreciative in immediate case
Making him aware of the fact that he should inform the clients regarding the pros and cons at the initial time of offers
Record keeping is another aspect that Steve should initiate in his working strategy
C. Acting in the client’s best interest and the role of negotiation
He need to be conscious in case of agreeing to any replacement or delayed factors without the consent of the sellers
Steve required to be aware of respectful and conduct behavior in front the clients
The ethical and legal duties of Steve make sure his responsibility of defending fairs concerning contracts of the sellers
2. Steps to Resolve the Issue
During the time of offering it is required to review the contract papers of seller and the situation of the property
Have meeting with the seller regarding the requirements of the buyer and receive clear cut communication
Under the contract what is acceptable and what not, from the buyers end as a responsive approach required to be drafted as professional document
If possible repairments can be granted with seller’s consent
All sorts of communication required a written documented version for future
Transparency should be maintained with timelines and inspection schedules
Ask Steve to have trainings on his working approach for future
3. Steven has fallen out of his mandate in the sense that he has already insinuated and suggested legal needs which may not exist and he had recommended to the group financial solutions without involving them.
In this case he is having the best intentions but is baffling both sides of the professional divide by empathising and attempting to find ground to both sides of the argument.
He was not acting in the best interests of the seller but on behalf of an advocate to the buyer who was being consulted
It would be unseemly to prescribe trades and inflict legal obligations that were not founded on facts, and to risk the agency by doing so.
4.Claims of Steven are that sellers, “ unless all the power points are working property cannot be granted for sale”, this statement is not in support of any rules of law, rather misleading the seller, until this has been mentioned in the contract of sale. Steven’s claim that sellers "cannot sell the property unless all power points are working" is misleading and not supported by law, unless such conditions were agreed to in the contract. Under Australian Consumer Law (Section 18), this is a scenario of breach (Sogari, Bogueva and Marinova, 2019). As the recommended approach an electrical engineer is required to be appointed before being disclosed the disputes with consent of the seller.
5.A risk management perspective
Yes, there may be several aspects of risks arrival:
Risk in Legal factors: Providing inconvenient advice on associated legal matters
Risk in Operational approaches: Playing the role of a representative going beyond his authority and limits
Financial risk: Without the consent of the agency or license giving payments in respect to repairs
Insurance based risk: Liability issues may arise in case of emerging disputes with electrician
Reputation risk: If sellers are not satisfied with the service of offerings feeling pressured and misled with the agency
6.This concept of pre-settlement inspection stands for insecurity rather than being a negotiable practice. The point of ensuring are listed below:
The condition of the proper is same as it was during the time of contract agreements\
All the points of agreements are functional and active
No new issues arises at the time of final inspection or handling date
There are certain points that create the base for negotiations. Sources are like:
The nature of the contract may include special criterias, warranties and inclusion features
Considering the condition during the time of offering, if there were no disputes the no such warranties will be given at the time of final handling
Documented with clear visual photos of the property and agreements will be provided in case of claims received from any of the party
Negotiation - Case Study
1.
|
Other Person’s Point of View |
Your Point of View (Business Perspective) |
|
a. Tenant I want fast repairs, affordable rent, and lease flexibility. Expects immediate action and may feel frustrated if requests are delayed. |
We must balance their needs with owner instructions and budget. Lease conditions and legal obligations guide our actions. Delays often occur due to owner approvals. |
|
b. Property Owner Wants to minimise costs and maximise rental income May expect immediate tenancy, high rent, and low vacancy |
We want to ensure compliance with legislation, keep good tenants, and avoid complaints Sometimes we must manage expectations about market conditions or repairs |
|
c. Tradesperson Aims to complete jobs quickly, on their schedule, and get paid promptly Prefers minimal contact or delays |
We need reliable, cost-effective work completed to a high standard Availability and timely communication are crucial, especially for urgent repairs |
2.Considering the position-based strategy Ben had taken a negotiation approach by setting a considerable condition, stating that he will not consider below $700,000, as the price range. It has been also noticed that his role of responsibility does not allow any flexible approach. But based on the market price it suggests $680,000 as the fair and acceptable pricing amount. As the responsible individual my role is to make Ben change his mind, rather than being rigid to his thoughts, aiming to sell the property within a shorter time will maximize price compared to present market pricing.
In making him change his mind I would like to approach with interest-based strategy, like stating to him the benefits like timeline associated, financial returns that may generate or not to waste time being rigid to his own approach.
3.Within a real estate negotiation it is the main factor of concern to tell the truth, be straightforward, ethical and make the most out of the situation as much as possible, to the best of the best of all associated sellers and buyers (Stevenson, 2021). Throughout our practice, we owe a duty to be guided by the Code of Conduct, and to our fiduciary role of acting in the best interest of the client rather than our personal gains. More over concerning our concern, this might be a tricky situation as our income is often constituted by the success of the labour deal - along with a possibility of a conflict arises from the client's side.
In nearly every instance we may be pressed to offer a buyer a lesser price, in order that he be induced to take up the sale, and we should be sent back. Or we may lobby to get decisions struck down, to meet performance goals at an individual level. It is here that the crucial element of moral judgement is needed in any case of resolving the issues.
- To deal with these competitive elements we should follow these steps:
- It required to be ethical and honest with the factors on which the deals was fixed even there is any matter of dyeing in process
- Should put pressure on clients at the time taking decisions
- Tracking records of all sorts of communications regarding the deal
- Following the professional code of conduct required to set the agreements
- Never put the interests of your clients second on the scale of harming your self-interest to the extent of losing a commission.
And the last and most significant desirable outcome of negotiation is the one single successful negotiation made possible by building trust and protecting our professional integrity and ensuring that the client feels not only informed but also supported during the process of a payment or handling.
4.
A. Resolution:
Considering the entry condition report required to handle the property at its right state of condition. With utmost calmness this should be addressed that the stated property will be returned in the same condition, guaranteeing with documented detailed report and photography of the present state (Weber, 2020). This initiates in neglecting the scope of disputes and maintaining all sorts of agreements.
B. Resolution:
There must be a clear communication regarding the rental system, where the rent amount paid as advance cannot be considered as the actual rental amount rather it is credited to be kept as security deposits. And the tenant must be educated with clear lease payment breakdown-structure. Tenants are required to pay the rent till his or her last day of leaving the property.
C. Resolution:
In case of making belief on the long term tenant’s advantages required an approachable negotiation with the owner, with the help of appreciable market factors. Like suggesting a smaller increase in rents like $6/ per week or making an increase in 3 to 6 months tenure.
D. Resolution:
Fixed-lease of around 6 months can be negotiable along with appraisal of mutual break in clauses considering tenant’s situation.
Making the owner understand the good behind flexible lease as this will avoid the scope of vacancy considering a good reputed individual.
E. Resolution:
Make explanatory advice based on the present time of interval and risk associated with the deal.
Suggesting bonding creation that reduces stress of fraudulent
Negotiation - Knowledge Questions
1.A mutually agreeable outcome refers to the ultimate decision taken by both concerned bodies, where both of them agreed with the result being satisfied with the outcome (Isaac, Mclachlan,and Chaar, 2025) . This is not just about winning on your own points rather being mutually agreed on common factors. The ultimate consideration of the requirements and interest of both the parties, ensures encouragement in building long-term bonding mainly in the cases of property deals.
2.Without compromise this is not at all possible to do any kind of mutual agreement as this needs a flexible nature of dealing. Being rigid on one point creates blockage in the way of all sorts of collaboration and partnership. In the case of property base deals often required compromises basically in case of price. Excluding the factor of compromise, bonds created through deals often suffer through conflicts or disagreements.
3.
A. Mutually Beneficial Outcomes
Provides with win-win results
Based on the shareable opinions that enable easy transaction process and opportunities for future
Example: Buyers receive faster settlements, while sellers receive desired selling price (Eshun, Chan, and Osei-Kyei, 2021).
B.Seeing and Seeking Information
Gather information to identify different influencing factors
Present with open-ended questions to the client as to have their clearer point of view
Example|: Buyer’s urgency might allow quicker closing negotiations.
C.Staying on Outcome, Not Position
Try to avoid any kind of aggressive behavior or conflict
Do not be rigid at one point, rather being flexible with the negotiation
Be focus on main aim i.e, successful selling of the property
4.
A. Prepare
Identify your purpose or aim, limitations, and get information over the market.
Get all sort of understanding over the requirements of the clients
Make a strategic plan
B.Exchange Information
Conduct open ended questioning session as share and gain key factors
Encourage to build trust among the both parties
Transparency should be maintained in setting boundaries and objectives
C. Bargaining
Offers and counteroffers are made
Focus on creative solutions
Concessions are discussed
D. Agreement and Close
With consultation from both the parties need to finalise the terms and conditions.
Document all details in writing for further conformations
Make sure of satisfaction and clarification from both the sides
a. Name of Tactic:
"Take it or leave it"
B. Why Professionals Use It:
For creating pressure on the parties to have faster agreement process compilation
Considered as a strategic move or to neglect expanded process of negotiations
C. Actual Result:
- It can backfire – that may make the deal fail to accomplish.
- Often creates conflicts in relationship by ruining trust
- Reduces the scopes in future for making business
D. Better Use of Theory (Interest over Position):
There are several ways in which these theories can be applied (Ladson-Billings, 2020). By having understanding the hesitation of the other parties required to restructure offers as to benefit the interest of both the parties. Encourage the parties with influencing dialogues rather than giving time limits.
- Internal policies like the HR dispute resolution process to guide staff behavior
- Company culture such as open vs. rigid, impacts communication and flexibility of an agreement
- Associated external policies such as customer complaint handling that affect public perception and choices.
- Professionalism and clear escalation processes reduce conflict risk
- Regular training improves negotiation outcomes in dealing
A. Different Interests, Views, or Approaches
- Often buyers wants a negotiation while Vendors wants a huge amount
- Property agents often prioritizes the property owners and associated tenant parties are being neglected
B. Opposition Over Time
Property agents often neglect the complaints regarding maintenance factors
Creates a situation of aggression and conflicts
C. Undermining Each Other
Online based agents are being publicly criticized by the property winners for lack of communication facility
The agent replied in his own defence make the scenario more offensive and breaks the relation
Result: Degrade reputation, often lost client base, and damage trust
