Odds of Getting Low Ball Offers Accepted

[James Orr]

Above is a chart summarizing all transaction history of:

- Properties sold in the MLS

- From 1997 through part of 2019

- Detached single family homes (no condos, townhomes or multi-family)

- Summarizing 6 different cities of data

It shows you a proxy for what the odds are of getting an above asking price, at asking price or "low ball" offer accepted and having it close based on actual data.

Of course, the specific property matters a lot, but this is a summary of all the data.

For example, in the chart above, only about 2.46% of all closed transactions we for 90% of list price or lower (in other words... you were able to get a 10% discount from list price even after the inspection and appraisal negotiations).

[Aaron K.]

That's more than I thought it would be in all honesty but I suppose it depends on the price point too. big difference in 10% on a $100k home and 10% on a $500k home