I'm not talking about a mistake, I'm talking about listing low to get a quick sale.
That is simply what most real-estate agents tend to do. All of their incentives line up in that direction. Sometimes they overdo it. That is the mistake.
They screw up their own deals sometimes because it is really hard to estimate the market value of a property either for quick sale or for maximum price. Even the professionals have difficulties. The professionals win more often than they lose, but sometimes they lose big. Then they just move on to the next deal.
The amateurs (which is all the rest of us) do well if we can hit a target price without too much of a haircut on "conditions". We are too emotionally invested in "this deal" and the next one is probably 5-10 years down the road, so we don't remember very much of what we might learn.
I do not see this legal settlement changing much of anything except to improve the income of the lawyers who conducted it. The really big change has been the switch to online listing sites instead of the MLS book that was once accessible only through agents. Also, there are more real-estate agents than there are properties for sale.
The herd is being thinned. No wonder commission rates are "negotiable" these days.