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Whats the avg. difference between the list price of real property provided by a realtor and the selling price?

Obviously this varies a lot, but any info, even anecdotal, would be appreciated. E.g., if a condo is initially listed at $145,000, would it be ridiculous to offer a bid of like $125,000? 130k? 135k?

Public Comments

1. If the condo has been on the market for an extended amount of time, then the sellers will be more likely to take a lot less than the asking price. You can always make an offer of $125,000 if they don't like it they can counter offer. I always think that it never hurts to try.
2. That is completely dependent on the area in which you live and the local real estate market. Where I live, the houses usually sell for about 95% of asking price and most agents won't even write an offer under 90% of the asking price. In other areas, I know the minimum offering price is the asking price and most people offer more than the asking price. Best bet is to check with a reputable real estate agent.
3. No. The "list price" is theoretically based on the selling price of similar properties in your area in the last 30 or 60 days or so and adjusted for your particular properties pluses or minuses. It is a starting point for most offers. It only a general rule of thumb. What you accept is based on a number of things. Something is only worth what people are willing to pay for it. Your decision shouldn't be made exclusively on theoretical "worth," but on a number of factors. How bad do you need/want to sell? Can you afford to wait out the market to get more money? Is it likely that your area will increase in value in the near-term? Are you prepared to sit on it for 2 or 3 years just to stick to your price? You are best served by having your absolute-minimum-bottom-line amount already in mind (don't tell your real estate agent what that is). This is not emotional, this is business.
4. I would offer $125,000 Why? This will smoke the seller's out and they will counter at what their true bottom line is. If you're lucky it COULD be $125,000 Who knows! Go for it.