CHAPTER 4 Why It's So Easy to Sell Your Home our Home for Less Than It's Worth At some point, numerous home sellers contemplate giving up and thinking, "I'll just lower the price and be done with this house."
Thankfully, rationality usually prevails.
The temptation to "throw in the towel" can affect even highly intelligent individuals. Here's an illustrative example: In 1997, entrepreneurs Larry Page and Sergey Brin were in search of a buyer for their internet search engine, initially named BackRub. They were seeking $1.6 million for their innovative online portal and had discussions with Excite, a prominent search engine of that era. However, Excite faced a predicament—BackRub was an exceptionally effective search engine. Users swiftly found what they were looking for and promptly exited the site, which posed a challenge for Excite's advertising business. In response, Page and Brin significantly slashed the price by more than 50 percent, offering to sell BackRub for $750,000. Yes, even visionaries occasionally adjust their prices. Excite contemplated the offer but ultimately declined it. No deal was reached, prompting BackRub's co-founders to take matters into their own hands. They rebranded their creation, naming it Google. 9
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