67 Fish Pond Lane in Cambridge, MA was purchased five years ago for $95,000 by two lawyers. Since then, its value has at least doubled. The owners, expecting to stay for some time, kept the house in excellent condition and added several unique features, including an elegant high-tech aviary for exotic birds. The owners recently moved to California, however, and the house has been on the market for a month. Two graduating business school students are interested in purchasing the house. One or both of them plan to meet with one or both of the owners while the latter are in town for a few days to see if a sale can be arranged.
1. State the role you would like to assume (buyers or sellers)
2. List 2-3 necessary criteria to prepare for the negotiation
3. State and explain your BATNA
4. Discuss what you think the other party’s interest is and how you can get them close to closing the deal.
