Unique assets such as real estate are typically sold in which type of market?

Unique assets, such as real estate, are typically sold in brokered markets. In a brokered market, transactions are facilitated by intermediaries known as brokers, who assist buyers and sellers in finding each other and negotiating prices. This is particularly important for unique assets like real estate, which often require personalized attention and detailed negotiations due to their specific characteristics, such as location, condition, and amenities.

Brokers can provide valuable market insights, help set appropriate pricing, and navigate the complexities of property transactions, which are often not as uniform as commodities traded in other markets. This type of market structure is essential for illiquid assets where individual transactions can involve substantial emotional and financial investments, necessitating the expertise and guidance of a broker.

The other options involve different trading mechanisms better suited for standardized or homogeneous assets, where cost efficiency and automation are prioritized over the personalized service required for unique assets.