1.

Define the negotiating

goal.

LIC Policy of my Father will be maturing in October 2020. He wants to purchase a 2-

BHK Flat with the maturity amount. I don’t want my Father to buy one more flat, since we
already have our own house. My ultimate objective is to stop him from purchasing the flat.

2. List the major issues in the negotiation related to achieving

the goal.

• Majority of Father’s Friend owns two houses that promote the idea to buy one more
house
• Due to downfall in the Real Estate Sector, price of Flats is
decreasing

3. Define their relative importance of each issue, and define the

bargaining mix.

• Purchasing a flat at the age of 60 doesn’t seem to be a feasible

decision
• Being alone child, I don’t see any use of 2 houses with me staying out of my home city
Nagpur for Job Work

4. Define
interests.

I don’t want my Father to spend money when it is not necessary. I want the funds
parked or invested wisely. My parents don’t have any medical insurance, so saving money for
handling health issues seems sensible. As I will be staying out of Nagpur for my Job, taking
care of 2 houses is a difficult option. We can’t force relatives every time to look after the
house.

5. Define the alternatives

(BATNAs).
 • To get the feeling of the new house, I am suggesting to renovate our current
house

• Suggesting to invest in Gold as it can be liquified. Also, many of Dad Friend has invested in
Gold, so it becomes easy to convince him

6. Define your limits, including a resistance

point.

Since it’s a Father-Son relation, I can’t push beyond a limit. And due Covid-19 times &
downfall in real estate, new house at cheap rates looks a good deal as well.

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7. Describe your understanding of the other party’s goals, issues, and

resistance points

• Goal: Fathers goal is to capitalize the timing of low real estates & his policy
maturation
• Issues: Parking money for a short duration in a financial instrument like MF is not feasible
now due to volatile market

8. Set your targets and opening

bid.

• Target: Somehow, stop Father from purchasing

Flat
• Opening Bid: Start with the option to renovate the current house and invest the rest of the
money in Gold. Since I will be out of the city, two house doesn’t make sense.

9. Assess the social context of the

negotiation.
 Person A: Myself – Stop Father from
purchasing flat

Person B: Father – Wants to purchase a flat although we have our

own house

Person C: Mother – She is an integral part of Family & her inclination towards every
aspect will be playing a pivotal role in final actions

Person D: Father’s Friends - They are owning two houses, so they also want my
Father to own two houses

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Person E: COVID 19 & Downfall in Real Estate – Lower Price of Real Estate is
lucrative. To purchase a house at this time is a good deal.

10. Outline how you will present the issues to the other party: what to say and
how to say it.

I will first try to get support from my Mother, telling her what to with two houses if I am
staying out of the city. Then convince her what else we can do with the money. After gaining
support from Mother, I can talk to Father on similar lines. Probably push the reason that his
friends have two children, so the reason for the two houses.
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