In 1979, larger corporations were buying prominent real estate agencies in major cities throughout the country because of the rising prices on properties and homes. The most aggressive of the companies was Merrill Lynch and Company who bought AMIC Corporation, a company in direct competition with CMI. Frank Randal president of CMI saw the direction that Merrill Lynch was going and saw a chance to expand CMI by acquiring a company of its own. Fran Randal contacted David Osgood of The Metropolitan Realty Network, to discuss options increase the company's capabilities. Osgood mentioned that their only effort to date was an independent firm in Chicago named Corporate Transfer Services, Inc. (CTS) that had been started by Elliott Burr, a prominent Chicago broker and a MetroNet director. CTS had been formed with the intention of working with MetroNet brokers (Lewicki, et al, 2007). .
Social Context in Negotiation.
In the case of Capital Mortgage Insurance Corporation, social context plays a hefty role in negotiations. "Negotiations occur in a rich and complex social context that has a significant impact on how the parties interact and how the process evolves" (Lewicki, et al, 2007). In the event of Capital Mortgage Insurance Corporation there is more than one person or party that will involve social interactions for negotiations of acquiring Corporate Transfer Services to compete in the real estate market. Frank Randall and Jim Dolan have three days to solve the company's issues. "It's difficult to get parties who are actually in an intense negotiation to allow researchers to do interviews, ask questions, or publicly report annual success and failures."" (Lewicki, et al 2007). Part of negotiation is acquiring facts about Corporate Transfer Services, but three days seems too little time to resolve this issue. .
"A relationship can help construct building blocks, making the outcome more satisfying for both parties.
