Question

Hi, I want to ask that i tried exploiting ticketbleed (cve-2016 9244) and i got successful in that but is giving me output in binary which i am unable to understand. How can i understand that output. Thanks in advance.

Answer 1

Negotiation defined by Collin dictionary as a formal discussion between people who are trying to reach an agreement. It's an art of communicating back and forth with two or more parties to reach a common agreement. Negotiation is a process by which we attempt to influence others to help us achieve our needs while at the same time taking their needs into account. It is a fundamental skill, not only for successful management but also for successful living. It is a common, everyday activity that most people use to influence others and achieve personal objectives. Negotiation is essential to living an effective and satisfying life. We as an individual have needs like resources, information, cooperation, and support from others. Similarly, others have those needs as well, sometimes compatible with ours, sometimes not.

The topic for my real-life negotiation is to buy a new house when I moved from Scottsdale, Az, to Mooresville, NC, in 2016. Relocating to a new city required the purchase of a new home. I moved in August 2016 and rented out an apartment in Mooresville, NC. I have never been to NC before; What I have searched online, the house prices were very much affordable than Scottsdale, AZ. I decided to stay in the apartment for six months. This gave me some time where I could research and buy our dream house. House market prices were on rising in charlotte. However, home affordability outpaced the national average making the Charlotte housing market one of the more affordable markets in the nation. I looked at all the options available, considering the houses' price, locations, and beauty. I settled for a house that was on sale. I was able to buy the house at a reasonable price of $ 375,000. It was a lot of research, effort, and negotiation went into this deal. The house was initially in the market for 420,000, which was too high than the actual house worth. I took the initiative of negotiating to buy the house at $ 375,000. This would be a fair price for both of us considering the market price of houses at that moment.

My result of the New House Negotiation was some of my best results to date. I was able to secure a fantastic deal on the house. I was able to negotiate the price down about 5% less than where it currently stands. I was also able to get a fantastic deal on the house and got $27,500 worth of upgrades. I felt great about this outcome; it exceeded my objective.

As a new buyer, I had no experience buying the house. For first-time buyers Negotiating a home is intimidating. There are many things we need to do before we start searching the house. I had to make sure I get a preapproval before I start shopping for a home. I also had to choose an agent before I started to compare properties. My employer provided lucky for me Realtor contacts as part of the relocation package. Everyone has priorities when looking for a house to buy. Buying a house means I had to find a house that meets my priorities and my needs. So I decided to do my own research and planning.

The most important thing is to understand what type of house I wanted to buy. There is no way I see a house and say I want to buy it. Houses have different designs as well as sizes. I wanted to buy a house that I can manage without challenges. I wanted a house with appliances, build for few years and a modern family house.

Whenever buying any item, the budget is the number one factor to consider. I had to set my budget first. Affording a house does not only mean buying it but also managing it. Therefore, I wanted to buy a house that was set in my budget. I did not intend to buy a house that I could not afford. My budget was 400,000.

The location was my top priority. Different locations have different houses. I was interested in buying houses where there is easy access to facilities like road and water. I also wanted a house which has great schools and community. Low crime rate and closer to my workplace. This made few locations more expensive than others. One thing I knew is that I have to choose my location well.

There is a lot of real estate jargon to master. Many of these terms have legally sensitive definitions and are often conflated with one another. Therefore, it is a good idea to have a good Realtor. I was lucky enough I had a great realtor. He helped me understand these technical terms, such as the difference between an appraisal and an inspection.

A preapproval is helpful when we are shopping for a home. I reached out few lending companies and banks. My realtor had provided lender details. Another benefit of pre-approval is to know how much mortgage I can expect to take out. It is highly beneficial to me as a buyer, and it helped me narrow down and focus on my best options. The preapproval process is essentially a mortgage application. This means my lender took a comprehensive look at my finances.

I was pre-approved for 400,000. It gave me a ballpark to search for houses in that prices and match my requirement. My agent had shown me the information of several homes in the area and the one I was interested in that sold at my criteria. I looked at all the options available, considering the price, locations and beauty of the houses. Finally, I settled for a house that was on sale.

My negotiation with the first house didn’t go that well.    I called the dealer, who said the price of the house was $ 475,000. After talking to the realtor, he advised that the house was worth less than that. This meant that the dealer had overpriced the house. I took the initiative of negotiating to buy the house at $ 400,000. This would be a fair price for both of us considering the market price of houses at that moment. I asked the dealer whether he could sell the house at a lower price, but he insisted that the price was discounted and that the house was supposed to be sold at $ 500,000. I argued about how the house was worthless and that $ 400,000 is all the money that I had. The dealer insisted on how the house was furnished and that the market prices of such houses have gone up. Because I had poor negotiation skills, I addressed him with a bad attitude since he did not understand me. I told him to watch how I would find another better house than the one he was selling at a lower price. I went ahead to challenge that he will not have sold the house in the next 7 weeks. Since he was a soft-spoken man, he insisted that I consider the offer, but I was unwilling to negotiate further since he persisted that the money I had was not enough to buy the house. With a lot of disagreements, I left to look for another house. To my surprise, the house was sold the next day at $420,000.

Learned from my mistake, I realize I should be more flexible in negotiating. I should have pushed the dealer harder so that he can cut down on the price. Talking to Realtor made me realized I should have made a mid-point offer, which the seller might have accepted.

We shortlisted another house which was in the same neighbourhood as the previous one. I really like the house. I didn’t want to miss this opportunity. Learning from my previous experience, I made strategy to be more flexible in my negotiation. The home that I was interested in purchasing the seller was asking for $420,000, and I would be willing to purchase the home for $375,000. The home was in the market for at least six months, and the seller should be ready to negotiate with me at this lesser price to get her home sold.

My initial offer was 350,000 because the agent informed me that this house has been on the market for six months and the other houses in the areas sold for $400,000 within my criteria. I have informed my agent that I did not want to pay any more than $380,000 for a home. My agent told me to ask for $350,000 and see what the seller initial offer would be. My offer of $350,000 got rejected, and the seller asked for 395,000. This was a reasonable price for the house, but I wanted to see if I could lower the price bit more. I made a counteroffer. If she asks for $395,000 and I know the homes are not selling at this price in the area, I would offer $375,000 contingent on few upgrades as my counteroffer, hoping she would come back and meet me halfway. To my surprise, the seller accepted my offer. Not only I got a reasonable price, but I also got the upgrades like a Patio, BBQ station.

In 2020 After Covid in March, we decided to relocate from Mooresville to charlotte Downtown. My office is relocated in Charlotte downtown it makes sense to closer to downtown. This time it’s already been 4 years I new area very well. We were targeting Concord / Harrisburg because it's almost the centre of everything, and the commute is easy. This time we decided to buy a newly built house. The experience of buying an old house was not that great. Eventually, things start getting old and required maintenance. We planned to sell our house after we have a closing day for a new house.

The majority of my search was done online. The Realtor was not that much help this time. I was particular about the requirement and Realtor has; I looked for a neighbourhood closer to Mosque in Charlotte and had good schools. We had shortlisted 2 New communities that we really like, but our surprise was that COVID house prices were very high. Suddenly due to COVID a lot of people are working from home. Many people have come from the North, so prices skyrocket. It was not the same as what I had experienced 4 years back. All the houses coming in the market for sale were selling in hours; even people were overbidding prices to get the house. Even now, it get worse, we have to put up an application in advance, and then through the lottery, your application gets selected. I was lucky enough that my application got picked up.

The scenario has changed now; as a buyer, you don’t have any power to negotiate. As a buyer, you don’t have an opportunity to have a counteroffer. The only negotiation I was able to do was to get some upgrades in the design phase. It’s not even negotiation; it was a gift because I keep on asking for a deal. I learned to keep asking a deal don’t stop it eventually; you do get some benefit. Buying a new home does not require a realtor, but it's always a good thing if you have a realtor with you to go through paperwork. I did contact a Realtor and negotiated a deal that he will give me some part from his commission. Normally Realtor gets 3% from each side. As a buyer agent, I asked him to have only 1.5 %. He agreed to it. After some negotiation, he agreed to it. I knew I was in the position that I could negotiate with the realtor, the reason being I had done everything, search, negotiation, and he was getting easy money just to put his name. I am glad I was able to get 1.5 %. This will cover my closing cost. My house is still not built yet; I am glad to go out in the market first before selling my existing house. This gave me an idea hows the market looks like. Once I put my house on the market, I will have a good idea of what price to sell.

Realtor:

Real estate agents have licensed professionals who work on your behalf and advocate for your interests. The buyer’s agent helps you understand how to make an offer on a home and back you in negotiations. I had a great relationship with my realtor. He searches search sites and gave me a sampling of what’s available, and helped me determine prices if they were justified based on comparable home sales in the area. He helped me to understand how to make an offer on a home.

Seller Market/Buyer Market.

The biggest difference between a buyer’s market and a seller’s market lies in the power position. When it is a Buyer’s market, it favours buyers more inventory, lower prices – so the buyer has more “power” than sellers. I was lucky to buy a house when it was a buyer market. I was able to negotiate a reasonable price with upgrades. However, Rite now, due to Covid, it’s a sellers’ market. As a buyer, you don’t have room to negotiate as there are more people available to buy the house.

Lender Companies:

Real estate agent and mortgage lenders work together to ensure the best possible outcome for their clients during the transaction. My real estate agent helps me to get a loan at a decent rate also covered my closing cost. I had reached out to other banks for a loan as well. This helped me to choose the best option, which was available at that time.

Summation

Through the in-class negotiation cases in Dr Kohut’s class, I realized that different negotiation techniques influence different situations. Looking back at my personal negotiation exercise buying the house, the following is my reflection on what I learnt and what worked in my favour:

• I learned that I need to trust my realtor and the process.

• To walk away and let my dream house go if I don’t like the offer.

• Get Knowledge on how the houses are evaluated before giving a final price.

• Know the market. If it’s a buyers market, we are better positioned to negotiate in the seller's market as buyers; you lose your power position to negotiate and negotiate and get some discounts.

• Ask more questions about the house before house inspection. This will help to find out any flow in the house.

• The clarity in Objective: Before engaging in a negotiation, we have to know the ultimate goal for the negotiation. In my case, my objective of this negotiation was to get a house at a lower market price with some free upgrades. As a result, I could get a perfect house with all upgrades lower the asking price.

• Priorities the variables: Before walking into a negotiation, be clear about the priorities. Priorities based on its value, the most important variable was school, then it has to be closer to the mosque, and my job has to be a certain price range in my budget, bigger than what I already have.

• Open for alternatives: we should always be open to other alternatives. We should have alternatives in terms of BATNA and strive to achieve it at least. In the above negotiation, I did not have had any BATNA. I didn’t have any alternative plans.

• I have used the Collaborative Style (Win-Win) strategy to accomplish a viable option that is fruitful for both buyers and sellers. The strategy is aimed at ensuring that both parties at the negotiation achieve something at the end.

To conclude, after studying negotiation and conflicts, I am better equipped now to do my Negotiation. It has helped me to sharpen my existing knowledge. I have gain knowledge of different that I can use during any negotiation. . The array of negotiation cases and the associated roles I played has changed my prior thoughts regarding negotiation and has simultaneously taught me that discovering the objective would be the first step in preparation for the talk. The negotiation cases have helped me understand how to interact with people of different cultures and handle different situations. I am confident that we can solve any deadlocks in a negotiation effectively by effective planning and preparation and using an appropriate tactic. In future, before walking into any negotiation, I will draw a plan which will include clarifying the objectives, learn about the other side of the negotiation, separate people from the issue, choose apt influencing tactics and be receptive to alternate options.