Negotiation Analysis Paper Hr595

2712 Words Oct 7th, 2013 11 Pages
Negotiations Analysis

Negotiation Analysis Paper
Ivania Castaneda
HR595- Keller School of Management
March 2013

Introduction
Buying a home is a complicated and time consuming process. The purchase of a home is just one of many examples of negotiations that happen in everyday life. It is one of the few places in life where some form of negotiation is the rule rather than the exception. Not all people are effective negotiators. It takes a keen understanding of the process in order to be good at it. This class has provided tools via the review of key concepts and methodology to allow even the not so adept negotiator to be better at negotiating. By informing yourself, preparing, and keeping an objective mind frame we can all use the
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Many don’t realize they are negotiating because negotiation is perceived as something that only certain people due under specific circumstances, for example a car purchase or a divorce settlement. Most people associate negotiations with many formalities. I believe this misconception is why many of us have not put much focus on the topic, enough to make ourselves better negotiators. Everyone negotiates some are just better than others at it. It was a personal goal of mine to purchase my first home by the age of 25. In the spring of 2004 shy of my 25th birthday I walked into a mortgage broker’s office and obtained my first home loan. As most homeowners are aware, the process of obtaining a loan prior to the current real estate bust was very much standardized. There is the gathering of financial data, verification of references, job history, and so forth. Lastly, the bank offers you a loan at a specific rate. You can take the offer or continue to shop around for a more competitive rate based on your creditworthiness. When it comes to obtaining a loan there isn’t much opportunity for any back and forth negotiation because terms of any loan contract are usually defined by the lender and not subject to any negotiation. Once approved, you can begin house hunting. As I look back at the process, I realize the amount of back and forth negotiation that does take place once you have found…

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