Some buyers shy away from making a low offer on a listing because they do not want to offend the sellers. This is particularly true if the buyers have a serious interest in the property. They often prefer to wait for a price reduction before making an offer. Sellers often think that if buyers like their home enough, they will pay more for it. The truth is that a home is worth a certain price, which may not necessarily be the price the sellers want.
Buyers know the market value better than sellers.
While sellers may look at a few houses before putting theirs on the market, buyers look at dozens of homes. By the time they decide to make an offer on one, they have a good idea about housing prices. Home buyers today are busy people who do not have time to waste with unreasonable sellers. Most would rather wait for a price reduction before starting to negotiate. A home is most marketable when it is new on the market.