A few musings from 2017 that still hold good | GulfNews.com

Aspirational real estate pricing
My friend Jonathan Miller came up with this phrase three years ago and it continues to entertain. Listings for $25 million going for less than $10 million, or a $135 million listing selling for $100 million below the asking price!
Before you mock the practice as egotistical stupidity — and surely there is some of that involved — behavioral economics teaches us this pricing strategy probably anchors buyers at a higher, perhaps much higher, selling price. That is the entire point.

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A few musings from 2017 that still hold good | GulfNews.com.