Your buyer client Haley is making an offer on her first home although she can afford the full listing price, I advise her to offer 10% below the list price. A good reason for doing so is because the market is cold.
A buyer's market is considered "cold," while a seller's market is considered "hot." When there are more homes for sale than buyers, those buyers are enjoying a cold market, and it's a great time to buy.
Serious sellers are often willing to negotiate in a cold real estate market.
This means you can most likely purchase a home for less than the list price, and the seller may be willing to pay some or all of your closing costs.
Buyers will have a more pleasant and relaxed experience. Closing numbers are lower when fewer buyers are purchasing homes. Median sale prices will fall in a buyer's market overall.
Hence, I advised her to offer 10% below the list price because the market is cold.
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