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In real estate, it’s location, location, location. In negotiation, it’s reputation, reputation, reputation. A trustworthy reputation – once lost – can be difficult, if not impossible, to regain.
In this seminar, Martin E. Latz plays Devil’s Advocate in presenting a series of ethically challenging negotiation scenarios to a blue ribbon panel of lawyers including, Robert Landon (Kenny Nachwalter); Alexandra Lagos (Greenberg Traurig); Stephanie Chaissan (Berger Singerman); and Beatriz Jaramillo (Humana).
Watch the sparks fly as they:
- Discuss effective – and ethical – negotiation strategies
- Evaluate where to draw the line between lying and puffery
- Share their secrets of successful negotiation
ETHICS SCENARIO #1: The Stalking Horse
- Morally right or wrong?
- Ethical under the rules – or law of fraud?
- Effective as a strategy?
Discuss Golden Rule of Negotiation– Design an Offer Concession Strategy
- Recognize concession patterns
- Psychological tendency
ETHICS SCENARIO #2: “The Planted Oil”
- Morally right or wrong?
- Ethical under the rules – or law of fraud?
- Effective as a strategy?
Discuss Golden Rule of Negotiation – Information Is Power – So Get It!
- Set appropriate goals
- Get critical information
- How to avoid answering questions
Discuss Golden Rule of Negotiation – Maximize Your Leverage
- Determine level of needs (Both Sides)
- Best Alternative To a Negotiated Agreement (BATNA)
ETHICS SCENARIO #3: The “False” Promise
- Morally right or wrong?
- Ethical under the rules – or law of fraud?
- Effective as a strategy?
Discuss Golden Rule of Negotiation – Employ “Fair” Objective Criteria
- Using objective criteria with “tough negotiators”
- Offer and concession strategies, including 1st offer issues
Discuss Golden Rule – Control the Agenda
- Techniques to set the agenda
LATZ’S 8 GOLDEN RULES OF ETHICS
- Honorable intentions make a difference
- Silence is usually golden
- Bluffing about your bottom line and your interests usually is legally acceptable
- “Puffery” couched as opinions and statements about the future most often does not cross the legal line
- The more sophisticated your counterpart, the better your position
- No harm, no foul
- Don’t risk your short or long-term reputation
- Don’t compromise your morality