Yeah, you underprice it and it will sell within a day or two. Why would they want to maximize how much they sell it for and have to do much more showings to get the sell?
If I was a real estate agent, what would keep me from listing a bunch of houses worth $500,000 for just $470,000 and just sell them super quickly.
I would get just $14,100 per house instead of $15,000 but if it allowed me to see a ton more houses with less work, I would much rather sell 10 houses/month at $14,100 and make $141,100/month vs only 3 houses/month at $15,000 and make just $45,000/month.
It is nice when someone else provides the inventory for you at no cost to you and you get the commission.