> they know the value, but will attempt to low-ball applicants to the extent possible.
When you buy a car or a house, do you bid the value, or do you try to low-ball and see if the seller will bite?
When you buy a car or a house, do you bid the value, or do you try to low-ball and see if the seller will bite?
And that's all beside the point, because the information asymmetries in real estate markets are totally different from labor markets. This law reduces the information asymmetry to actually make labor markets more like real estate markets, in which all historical prices are public information and (in civilized jurisdictions, at least) all known relevant factors that might affect price are legally required to be disclosed.
If you've ever hired someone, you'll find out about this asymmetry.