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Expert property negotiators and pricing information, revisited

Expert property negotiators and pricing information, revisited Builds on a previous study and examines the influence of asking prices as anchors in the real property negotiating process. Previous studies have shown that the human mind uses short cuts (heuristics) in process information. Describes a study which gives further evidence that negotiators familiar with real property will, in many cases, devalue cognitively difficult pricing information and base their negotiation expectations on the seller’s asking price. Concludes that the seller’s asking price is thus a potential source of bias. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Property Valuation and Investment Emerald Publishing

Expert property negotiators and pricing information, revisited

Journal of Property Valuation and Investment , Volume 15 (3): 8 – Aug 1, 1997

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Publisher
Emerald Publishing
Copyright
Copyright © 1997 MCB UP Ltd. All rights reserved.
ISSN
0960-2712
DOI
10.1108/14635789710184998
Publisher site
See Article on Publisher Site

Abstract

Builds on a previous study and examines the influence of asking prices as anchors in the real property negotiating process. Previous studies have shown that the human mind uses short cuts (heuristics) in process information. Describes a study which gives further evidence that negotiators familiar with real property will, in many cases, devalue cognitively difficult pricing information and base their negotiation expectations on the seller’s asking price. Concludes that the seller’s asking price is thus a potential source of bias.

Journal

Journal of Property Valuation and InvestmentEmerald Publishing

Published: Aug 1, 1997

Keywords: Heuristics; Negotiating; Prices; Real estate; Valuation

References