Required 1000 words
You and your family have moved from Abu-Dhabi to Dubai, you are living now in a month-to-month rental and have finally found the perfect house to buy, where it is near from the school and the market, and is in a nice neighborhood. Unfortunately, the seller is being un-reasonable. The house is on the market for 600,000$, but your research backed up by your broker’s opinion, tells you it is overpriced. And by your estimate a fair price would be around 500,000$, but when you offered that amount, the broker told you that you are not even close.
1. What negotiation approach you will follow with him in negotiating this deal? If different kind of approaches, mention and describe each one of them.
2. Who has more power in this negotiation? What strategy and tactics you will follow and use? Describe both the process and include what do you think your BATNA is.