Technically correct, but you're missing the point.

Eventually you do need to be able to commit some sort of transaction and get confirmation from the counterparty.

This is correct but you can do tricks to change who the counterparty is, which is often useful. If, instead of putting up a yard sign and saying "this house is for sale" and waiting for someone to come by and complete the transaction, the homeowners entered a contract with a brokerage to sell the house to anyone who is willing to abide by a list of terms (minimum price, occupancy date, etc.), then the brokerage can respond immediately and say "great, the house is yours". This is essentially the equivalent of sending a sell order to a stock broker.