Question

In real estate, a person selling his or her home lists the price of the home. In return, the person who wants to buy the home provides the price he or she is willing to pay for the home. What is this an example of?

Answer 1

In real estate, a person selling his or home lists the price of the home which is called asking price. In return, the person who wants to buy the home provides the price or she is willing to pay for the home which is called offer price. Both are examples of negotiations where the buyer and seller through their agents would agree on a certain amount that is amendable to both.