| Comment | > A price is advertised, that's the price the seller will sell the property for.
This is true but not exactly true. If your target price is 100k, you won't advertise it for 100k, you will advertise it for perhaps 130k, and then hope someone offers you your target price is something even higher. No one sets a price similar to the target price, because people will lowball you by default.
This is similar to the used car market. If someone wants to sell a car in Gumtree for 2k, they wont put the car for 2k.
It is also a "blind" system in the sense that you don't know what was the minimum the seller was willing to accept. Maybe the person put the car for 2.5k, and you offered 2.2k and seller took it. What you didn't know is that the seller was willing to accept 2k. It is the same with houses. |
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