Below & Above Asking Price Offers
- Adam Garrett
- Jan 31, 2023
- 7 min read
Updated: 6 days ago

Many newer agents and unrepresented buyers who haven't purchased many houses don't offer the right price on houses & other real estate like land and commercial, and because of that, lose out.
Should You Never Pay "Full" Price for a Home?
When to Be Picky & When to Be Expeditious on Offers
Different Offer Examples of Mine Getting $49k Below Asking vs Winning 8 Offer Scenario
Increased Probability of Below Asking Price | Increased Probability of Above Asking Price |
Long market time | Short market time |
a long time [i.e. >30 days] since the last substantive [i.e. 3%] price reduction | a short time [i.e. <3 days] since the last substantive [i.e. 3%] price reduction |
a long time since it's went back on market or with substantial issues uncovered during last contract or the listing agent not wanting to talk about it | a short time since it's went back on market with minimal issues discovered & transparency from the listing agent (especially if inspections are available) |
Lower population density | Higher Population density |
Comparable sales don't substantiate list price | Comparable sales easily substantiate list price or more |
No improvements &/or significant deterioration since last sale & high Zestimate accuracy factors involved with list price above initial Zestimate price on 1st date of listing | Many improvements since last sale & high Zestimate accuracy factors involved with list price below initial Zestimate price on 1st date of listing |
Poor marketing | Excellent marketing (i.e. professional photos, aerials, virtual tour, highly detailed listing, placement in >99% MLS, etc.) |
Low (i.e. <100%) average % contract price vs list price for area | High (i.e. >100%) average % contract price vs list price for area |
Listing agent has typically below asking price sales | Listing agent has typically above asking price sales |
Market Time Impact on 60+ Day Listings
Market Time Impact on 0-1 Day Listings
Impact of Season
Tips on Below Asking Price Offers
Escalation Clauses on Below or Above Asking Price Offers
More Tips On Below Or Above Asking Price Offers
Importance of Buyer Brokerage Agreement Before Specific Offer Advice in VA
Related:
Factors Impacting Supply & Demand on Real Estate That Influence Prices
Competing Offer Spreadsheet (including elements beyond the price that make up a "good" offer)
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