Negotiation for Sale of 116 Davies Street, Liverpool, Sydney

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Human Rights

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Table of Contents
Stage 1: Pre Negotiation..........................................................................................................3
Thinking Style Preference Form...........................................................................................3
Thinking Style Scope............................................................................................................4
Sternberg-Wagner Thinking Style Inventories......................................................................4
Significance of the thinking style form and scope.................................................................4
Adjustments..........................................................................................................................4
BATNA & Reservation Value of client..................................................................................5
BATNA & Reservation Value of other party..........................................................................5
ZOPA Range........................................................................................................................5
Stage 2: Negotiation.................................................................................................................6
Stage 3: Post negotiation.........................................................................................................7
Reference List..........................................................................................................................9
Appendix................................................................................................................................11
Assessment 1: Sternberg-Wagner Self-Assessment Inventories.......................................11
Assessment 2: Communications log template....................................................................14

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Stage 1: Pre Negotiation
On behalf of Pashendale Holdings Ltd, I approached the Farnsworth Property Trust
regarding the sale of commercial property at the commercial property of 116 Davies Street,
Liverpool, Sydney. The price that I had quoted to them was $ 16.83 million for the plot of
land.
Thinking Style Preference Form
The theory of mental self-government implies that thinking styles understood in accordance
with the opinions of government constructs. According to the theory coined by Robert J.
Sternberg, there are different types of governments present in the world but they are merely
external reflections or mirrors in which people can be governed and organized and not
coincidental (Adomako, Danso, Uddin and Damoah, 2016). Sternberg suggests that the
understanding of people can be done in terms of the forms, functions, scope, and learnings
of government. It is inherent of people do not consider or exhibit a single style but people
prefer to behave differently and undertake tasks in different situations (Zhang, 2011). The
theory comprises three different types of functions namely legislative, executive and judicial.
Whereas the theory comprises of four different forms of mental self-government namely
monarchic, hierarchy oligarchic and anarchic. An individual possessing monarchic form,
preference for certain projects, tasks, and situations which allows them to completely focus
on only one task at a time rather than undertaking to multitask. The underlying quality of a
monarchic individual is their approach towards accomplishing a task and the single-minded
focus on a particular situation before moving to the next task (Buzan, 2014). A hierarchical
oriented person is a multi-tasker who has a predilection for particular projects, tasks, and
situations within a given time frame. This kind of people can be adaptive in any setting where
it requires to fulfill the goals my setting different priorities for accomplishing them. Only the
situation that demands more attention than others are considered (Chen and Liu, 2012). A
person who is anarchically oriented tends to be much more flexible than any other forms as
the person takes random approaches for every situation which might be difficult to
understand by other people (Delina, 2014). Finally, a person who possesses oligarchic
characteristics has a predilection for specific situations, projects, and tasks which is
somewhat similar to a hierarchically oriented person. This kind of individuals to undertake
multiple things within a given time frame but the issue lies with prioritizing the tasks to be
accomplished. To be fair, an oligarchical oriented person can easily manage situations when
they are of equal importance (Richmond and Conrad, 2012).

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As a negotiator, in this case, I have chosen the monarchial thinking style because my focus
would be every aspect of this deal. The entire negotiation process required to focus on a
particular before moving onto the next.
Thinking Style Scope
The theory of mental self-government comprises two different scopes namely internal scope
and external scope. A person having an internal scope is considered to be introvert and
often disapprove working within a group. People with such characteristics work
independently of others. On the other hand, a person possessing external scope are
generally extroverts and are open to working in groups. I have applied the external scope of
thinking style to negotiate with the purchasing agent of the company. The external scope
helps in working with others or a group of people which would enable an individual to
generate new ideas and concepts (Yashkova et, al, 2016). There were some small areas of
conflicts which were also resolved through the process of effective communication and
external thinking.
Sternberg-Wagner Thinking Style Inventories
Refer to Appendix.
Significance of the thinking style form and scope
In order to continue with the negotiation process, I have chosen the monarchical style of
thinking as it emphasizes every aspect of the deal. The negotiation approach and thinking
styles were appropriate to address and take the deal to the final stage. I focused on every
task with a single-minded and accomplished each task before moving to another. The deal
with the client seemed difficult initially but necessary clarifications were addressed in details.
For instance, on the first day, the geographical location of the property was discussed while
on the upcoming days the communication was related to the positive returns on investment
and the solution of petty conflicts. Throughout the entire negotiation process, I maintained a
positive outlook towards my work and so this helped me to proceed ahead. I kept my
patience until the purchaser was convinced to finalize the deal.
Adjustments
Though the monarchic thinking style form and the external scope of thinking were suitable
for the negotiation, it was quite a lengthy process since I had to give complete priority and
focus to one task at a time. The aim of the entire negotiation was not to sell the property at
the initially quoted price of $ 16.83 million but to obtain a better price than $ 15.3 million that
the Hewitt Constrictions was offering. As per the statistics, the price of the same 116 Davies
Street land was between $ 15.5 million and $ 16.5 million. I aimed at raising the bid above
the alternative bid of $ 15.3. Thus I started negotiating for more so that it settles at