I don't believe that receiving payment is the end of the transaction for the buyer.

I haven't bought or sold on Ebay in a while, but when I did sell, I would not leave feedback until I received some indication from the buyer that the transcation was completed. This did not mean the buyer had to leave me feedback first. I would leave feedback first if I got an email from the buyer that he had received the item.

The reason is that feedback is designed to reflect the whole transaction, not just prompt payment. Suppose you send sell a common $1 house chip from the for $2. They pay you for the chip. You mail the chip. You leave positive feedback. The next week you receive a hate filled email from the buyer filled with profanity and comments about your mother. He is upset because he mistakelny or delusionally was expecting another chip. You would have been happy to accept the chip back for a refund, but instead he sends you daily emails filled with profanity.

Was this a positive transaction? Do you feel that your feedback gives other people who might be dealing with thsi ebay user a fair portatrait of how your transaction went.

At least if you had waited for that initial email you could leave a negative or no feedback at all.

I agree that the seller should not require the buyer to leave feedback first, but i think the seller should absolutely wait for some acknowledgement from the buyer that the transaction is concluded.