The price nobody paid

I viewed a house recently and tried to negotiate the rent. The listing had been up for months. The owners wouldn’t budge. Another agency had previously given them a higher valuation, and that number had become the truth in their heads. There was just one problem. Nobody was paying it. The flat remained unrented. Now it’s coming off the market after they rejected our offer. That’s anchoring in action. You hear a number first, attach meaning to it, then judge every future offer against it. The...