A major source of friction in property transactions is the gap between price expectation and price discovery.
Price expectation is emotional. It is shaped by past anecdotes, neighbour transactions, and personal attachment. Price discovery is market-driven. It emerges from demand, alternatives, timing, and buyer capacity.
Problems arise when sellers treat expectations as entitlement rather than hypotheses. Buyers sense misalignment early and disengage, leading to prolonged listings and eventual price erosion.
True price discovery requires exposure to serious demand, flexibility in positioning, and willingness to test assumptions. It is a process, not a declaration.
Transactions aligned with market reality tend to close faster and with fewer concessions. Those driven by aspiration often consume time and credibility.
Markets reward realism more consistently than optimism.
