Role-play Debrief Journal Entry#2 (Hamilton Real Estate Seller)

Role Play Preparation Template (revised 1/31/22) Your name: Maria Rahman Role play name: Hamilton Real Estate - EVP Pearl - Role Play 1. Your role (name): Executive VP of Pearl Investments (SELLER) 2. Who you negotiated with? Tyler Lueck CEO of Estate One (BUYER) 3. Your exact negotiated outcome(s): I wanted to the sell the something above the trade-in value ($40 million)- as the property is ranging between $36 million and $44 million while Tyler’s opening offer was ($36 million) which is low end of the market value. I offer to pay the closing fee for him which is ($43 million- [purchase price ]*2%=$0.86 million) and so after, the negotiation, we close our deal at ($42.14 million) *** From Land&Firm.Com I found the closing cost percentage which is account for 2 to 3 percent of the purchase price! 4. The most critical moments in your negotiation (in light of module materials and learning objectives)  The most critical moment in my negotiation is understanding the needs and wants of the buyer as this understanding is an important factor in determining which negotiation method(s) I will use to be most successful. And I could not assess the needs and wants of buyers as I have not any preconceived ideas about the state of their expected price from the deal of this commercial real estate property. Moreover, the buyer already researches the property; and as he knew more about it, he came up with a market value that was less than what I expected. And this negotiation made me reflect on the trends in the market and specifically for this r