Fannie, Freddie, HUD -- is 85% true?

[Account Closed]

I heard someone mention the other day that listing agents for Fannie, Freddie, and HUD properties will not be very helpful with offers that are less than 85% of the list price because it may loose them their contracts. Is this a pretty definite number?

I know, I know... nothing is DEFINITE in this business. I just want to know if I am wasting my time on low ball offers on properties being negotiated by these entities.