It's true -- most sellers hope to sell for their list price, or pretty close to it.

When a home is listed for $500,000, the seller is clearly aiming for $500K.

But that doesn't necessarily mean you should decide not to make an offer if the most you can pay, or want to pay, is $450K or $475K.

Bottom line... let the seller respond to an actual offer, rather than assuming what their response will be.

If a home is listed for $500K and you are only able to or comfortable with paying $450K, make the offer.

• The seller might say no.
• The seller might counter at $490,000.
• The seller might counter at $470,000.
• The seller might surprise you (and me) and accept.

But you don't really know how the seller will respond -- and often, the seller does not know either -- until we have sent your offer over to them.

We regularly see homes sell for full price, some above list price, and plenty below list price. How the sales price of a home compares to its list price typically depends on its condition, location, competition, and the seller's motivation. A home that has just hit the market with multiple showings scheduled is very different from a home that has been on the market for 45 days.

But here is the key thing to remember -- you cannot negotiate on a home if you've never made an offer.

If you love the house, and the price is close enough (whatever close enough might mean), it is usually worth having the conversation via an offer. 

The worst the seller can do is say no.

And oftentimes, they'll say no, but...