House I bought:
Advertised price was $450,000
Was on the market for about 6 months
I emailed the selling agent and said it wasn't worth close to $400,000 and she replied saying "You are wrong"
2 months later it was still for sale so I went to view the property and offered $385,000
They came back with $415,000
I figured "wow, that was a decent drop..."
I came up to $397,000 and said final offer, don't respond unless it's a deal. Despite that, they responded with $403,000.
I ignored it and continued my search for a new home.
The following Monday the agent called and said they want to accept my $397,000 offer.
I wanted to be a smug cunt about it and say "that offer has passed, new offer is (lowball even further)" but I was fairly comfortable paying $397,000.
In between all of that, I put in offers on 2 other homes.
One was on the market for $389,000 and I offered $365,000 and the cocky agent said they're not letting it go for less than $390,000 (above asking price!!) - that one NEVER sold and was taken off the market a month later.
The other was on the market for $485,000 and I offered $420,000 as it was a very inflated asking price in a less desirable neighborhood so I felt I was only really lowballing by about $15,000 of fair market value. Again the agent laughed and said "not a penny under $485,000" - that house has since dropped the asking price to $459,000 AND has a new agent. It has been for sale by 'motivated sellers' for almost a year.