What is your strike rate for offers / bids? Read rules below

[VaSSagO]

EG: Have submitted offers / bids on 10 properties and purchased 7 of those, you would have a 70% strike rate.

Just wondering what % of offers/bids submitted are successful

Generally once people have done their DD and put in a offer / bid do they lift their offer / bid to get the property. Or are they happy to walk away if their offer / bid is not accepted.

 

[perthguy]

100% for me for written offers. I only put in a written offer if I really want a place. I have only negotiated on 4 properties though, so I am sure that rate will go down in the future.

 

[Jenko]

Written offers, on a contract or just in writing? To the vender or RE agent?
I have texted a few offers, two had been negotiated and excepted via text before we drew up a contract. Both were with a agent.

 

[Michael_X]

Generally fairly low, actually don't keep count but suspect it would be in the lowest bracket, less than 25%.

Offer X, counter offer and increase a little. After that walk away and it's onto the next deal.

 

[Richard Feynman]

For me personally, I've put offers on maybe 10 places. I own 3 of them. The others were all offers way under market value on decent--but not GREAT--places and a case of "I'm only buying if I snag this well under value".

PPOR - Made my offer the same day the vendor had accepted another offer but purchaser pulled out soon after so I was given the option to buy at my original offer amount. I did.

IP1 - Lowball was rejected, a second low (but more reasonable) offer was put forth and accepted. Just. Lucky for me the vendors had purchased a home the same day my offer came through. I'm told one half of the couple wanted to refuse my offer and the other just wanted to seal a deal and stop stressing.

The day contracts exchanged two higher (initial) offers came in $20k above what I purchased for..too late!

IP2 - Turned up at first open home ready to buy with S66, 10% blank cheque, signed contract, all that jazz. Lowball was rejected. Second offer was rejected and vendor countered $20k higher (which was $40k under market value -- I did a few backflips at this stage but keep trying my luck for a lower price). Third offer was rejected with the same counter offer. At this stage I "conceded"...and pocketed myself a $40k profit while taking the property off the market a few days into its auction campaign.

I've also had authority to make offers on behalf of some other folks. Similar strike rate there too.

 

[jpcashflow]

Hi,

I don't really take note about my strike rate, because if I am going for a property and for some reason the price I am willing to pay does not get accepted I simply walk away.

Also each situation has to be handled differently as well

 

[Truly Exotic]

mine, less then 5%, make 20 offers a week, lucky to even get one!

as someone mentioned, if it doesnt add up, I walk away

 

[sanj]

mine, less then 5%, make 20 offers a week, lucky to even get one!

as someone mentioned, if it doesnt add up, I walk away

You make 1000 offers a year??

 

[sammmeee]

I have no idea. Heaps have been rejected. HEAPS
the worst part is that in wa you have to do written offers..aaah killer I get sick of doing this part.

The more that get rejected the closer i come to an acceptance on my terms.
Mind you my last was probably my worst in negotiation..

 

[skater]

I've no idea! If the vendor doesn't come to my price, I walk away. Mind you, I've bought many at auction and been to many auctions where I haven't but a bid in due to the high competition. Others I lowball, leave enough room so I can make a higher adjustment if necessary, then walk away if I don't get the price I want to pay.

 

[scha9799]

I often go for open inspection and put on the low offer regardless if I can get it or not.

Sometimes, its because the agent asked me if I would like to put an offer and how much I would put it. Then I'd tell them something which is at very low end of what I think the market willing to pay for.


So I would say my rate of success is around 10% - 20 %.

 

[WattleIdo]

At the moment it seems pretty good 'cause my lowball has just been accepted.

scha9799:very low end of what I think the market willing to pay for.

same, it's the very low end of market range - just under. No counter offer.

 

[lizzie]

No idea ... if I really want a property I put in a fair offer with limited conditions ... if I'm not fussed then I put in a low offer.

 

[Mick C]

first 8 properties over the last 7 years ( CBD/ North west/ Newcastle/ Nowra)- 100%.

Last 4 in the last 12 month( All in campbelltown) 10-15% strike rate....tough market ....all these annoying silent auction.

 

[strongy1986]

first 8 properties over the last 7 years ( CBD/ North west/ Newcastle/ Nowra)- 100%.

Last 4 in the last 12 month( All in campbelltown) 10-15% strike rate....tough market ....all these annoying silent auction.

100% on our 3 properties,

260, asking 275
370, asking 400
398, asking 398 - sold for 480 in 2007

I'm not much of a negotiator, all our properties are subdividable so when we find one we arnt really in a powerful position to negotiate

 

[Mick C]

Sydney market...

Asking offer over $395,000 - bought it for $465,000 ( it was really worth worth $450k ..bloody agent under quoting >390k...)

 

[Ace in the Hole]

Purchased every property we wanted, 5 purchases to date.
Never walked away from a property after deciding to purchase.
They have all been fair deals at the time.
Don't really go bargain hunting with property, more like opportunity based decisions.
Different styles of investing for different people I suppose.

 

[charttv]

7 offers
5 purchases

number of times first offer accepted = twice, much to my annoyance but it ended out working well both times so no biggie in the long run.

this thread has got me thinking about trying my luck low balling/consciously looking for distressed/highly motivated sellers

 

[Allgood]

Haha, less than 10% for me.... tight ****.