article_snippet.sent: Competitive options for buyers and sellers can define a limit beyond which Competitive options for buyers and sellers will not go, but there is still a range of prices that fall within those limits, Professor of Strategic Management at University of Toronto, Joshua Gans, writes for The Conversation.
article_snippet.sent: Within that range, sellers are looking for a higher price while buyers would like a lower one, so each has an incentive to signal to the other sellers willingness to be a tough negotiator.
article_snippet.sent: Sometimes, however, sellers may want to send a signal sellers are willing to be less tough, such as when sellers are keen to sell an item quickly.
article_snippet.sent: One method is to lower sellers starting price, but this isn’t always desirable.
article_snippet.sent: Buy the site now’ price and the seller can give buyers the option of making buyers an alternative offer.
article_snippet.sent: Buy eBay now’ price and the seller can give buyers the option of making buyers an alternative offer.
article_snippet.sent: There are some sellers who don’t just care about price and, absent any other way of signalling that to buyers, buyers set buyers price at a round number.
article_snippet.sent: While the study is new, ’ Professor Gans said the technique to sell houses (a stock image is shown) as quickly as possible, or for as much money as possible, is already used by estate agents .
article_snippet.sent: – a trick estate agents already use.