Advice to Buyers Competing For a Home in Multiple Offers
When most people hear the word “indifferent,” they immediately think, “apathetic,” “doesn’t care,” or perhaps, “not engaged in the outcome.”
But the truth is — especially in business — someone who’s indifferent between two outcomes can be intensely interested in which one occurs.
It’s just that it’s a tie.
Balancing Point (Razor’s Edge?)
The best example of that is the classic advice to a Buyer competing for a home in multiple offers.
To wit, “the right price to offer is what you’re OK with if you get the home . . . and what you’re OK with if you don’t.”
P.S.: so-called “indifference curves” in economics illustrate the same point.
