real life example

heard it today...my friends are neigbours of these people!

northmead (sydney, northwest)...house for sale, 1000 m block....

first agent can sell it for 650 but second one says 700 (guess which one gets the job?)

house doesn't sell for 700 or 680 or 650...eventually dropping all the way back to 580 where it lingers on the market for months...

...and finally it sells for less than asking price (not sure of the final number but probably (????) close)

now...we can almost be sure that 700 was always too much for it and assume that 650 was also not cheap...

but even if we say that 620 was right it was still sold for 10% below that...and it took long time to get it !

and funnilly enough, still nobody can notice the 'drops' !

hm!