SAN JUAN, EDISON S.

LT-02

Insight Piece #2

Class Exercise
I was assigned as a seller and the other party as the buyer. The buyer started the negotiation
by mentioning that he was interested with the lot that I have. Giving this information was very
useful. It means that he was already in the table for negotiation.

I responded in by saying that I actually had a sure buyer but I can still sell it to him at the right
price. The information I gave him was very limited showing signs that I am not currently at the
negotiation table with him.

He tried to negotiate by setting the initial price. With the thought in mind that he’ll always have
a buffer from his first offer, I immediately responded with a no to have him extend his budget
to the limit.

I just gave in to his offer when he mentioned that it was already the limit that he has and can’t
extend anything above it. I gave in since anything above his limit would turn to a lose-lose
situation.

Realization
Information are very useful in a negotiation. The information we have are like weapons in this
battle we’re facing. We should not let the other party know every information we have since
they might use these information against us. Some parties would try to exploit weaknesses
from the information we give them.

On the other end, we should try to get the most information from the other party. We can do
such by asking probing questions that might give us useful insights to be used for the whole
negotiation.