Read the case study Hamilton Real Estate (role of buyer) and respond - as a GROUP - to these questions:

1. What is your (the buyer) BATNA?

2. The seller asks you (the buyer) what you plan to do with the property. How will you respond? What would Malhotra and Bazerman (the authors of the text for our class) recommend?

3. The seller makes an offer for $88 million and states: "We think $88 million is a fair price because the land can be used for commercial development, which makes it worth as much as two times what it might be worth if used for residential development (which is $44 million)." How will you (the buyer) respond? What is the risk in offering this response?

4. The seller appears to be at an information disadvantage in this negotiation. Imagine that you are a negotiation consultant to the seller. What would you, as the consultant, recommend that the seller do in this situation to offset this disadvantage?

5. When this exercise is conducted in a classroom, there are different outcomes - even though all of the students in the class have the same case, information, etc. What might explain why some buyers/sellers do better/worse than others?