Expert property negotiators and pricing information, revisited

Roy T. Black (Professor in the Department of Real Estate at Georgia State University, Atlanta, Georgia, USA)

Journal of Property Valuation and Investment

ISSN: 0960-2712

Publication date: 1 August 1997


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.



Black, R. (1997), "Expert property negotiators and pricing information, revisited", Journal of Property Valuation and Investment, Vol. 15 No. 3, pp. 274-281.

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Copyright © 1997, MCB UP Limited

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