Data Shows the Average Washington Homebuyer Negotiated $18,429 Off the Sale Price.
- Survey of homebuyers asked the discount they achieved when buying their homes.
- Washington homebuyers negotiated a 3.2% reduction in the sale price.
- Infographic showing how each state compares.
The American Dream – a little house with a picket fence, a yard just big enough for a dog to stretch its legs, and, of course, the sweet satisfaction of knowing you didn’t pay full price. Yes, for many retirees, downsizing to the right home is an important financial milestone. But while some are content to sign on the dotted line, others see the price tag as the opening bid in a high-stakes game.
In a recent survey, AgentAdvice.com, a site offering real estate advice, asked 3,000 homeowners just how much they managed to whittle off the final sale price of their most recent property purchase. And the results? It emerged that some states are home to a particularly cunning breed of negotiator.
Leading the charge is Alabama, where homeowners shaved an impressive 4.3% off the final sale price. With an average house price of $221,490, that equates to a cool $9,524 saved. And Washington homebuyers managed to wrangle an average discount of $18,429, thanks to a 3.2% negotiation off the state’s average home price of $575,894.
At the other end of the spectrum is Arizona, where residents seem a bit more willing to reach for their wallets. Here, homeowners negotiated an average reduction of just 2.7%, which, given the average home price of $426,680, still amounts to a not insignificant $11,520 in savings.
But beyond identifying the states with the most successful negotiators, the survey revealed the secrets behind those savings. It turns out, the most powerful tool in a negotiator’s arsenal is often the humble hammer and nail – or rather, the state of disrepair they’re trying to avoid. A solid 30% of respondents said that the condition of the property was the most influential factor in their ability to negotiate. After all, nothing says “drop the price” like a roof that needs replacing or a kitchen straight out of the 1970s.
Market conditions also played a critical role, with 23% of homeowners pointing to the ever-volatile swings between buyer’s and seller’s markets as a key determinant. It’s a delicate balance, but in a buyer’s market, there’s no need to take the first offer lying down – especially when you know there are plenty more houses just waiting for the right offer.
But let’s not discount the power of personality. About 20% of respondents credited their own negotiation skills with sealing the deal. After all, it takes a certain kind of nerve (and perhaps a bit of charm) to walk away from a deal that’s almost too good to be true – only to watch the seller come running back with a better offer. Meanwhile, 16% of respondents noted that competing offers from other buyers forced them to play hardball, while 10% said that a listing agent’s pricing strategy played a pivotal role in how much wiggle room they had.
Timing, as they say, is everything. A savvy 39% of respondents began their negotiations right at the start, during initial discussions with the seller or agent. This early-bird approach sets the tone and often locks in better terms before things get too serious. On the flip side, 31% of buyers preferred to wait until after the home inspection to kick things off, using any issues as leverage to bring the price down. For another 17%, the appraisal was the moment of truth, particularly when it came in lower than expected. And then there are the risk-takers: 14% delayed negotiations until the final contract signing – a gutsy move that can pay off if the seller is eager to close the deal and move on.
When it comes to emotions, buying a home is a rollercoaster of feelings, and nowhere is this more apparent than in the negotiation process. Over half of the respondents – 54%, to be exact – admitted to walking away from a home purchase because the seller refused to budge on price. It’s a bold move that can cost sellers a sale and buyers a dream home, but sometimes, it’s the only way to hold your ground.
Meanwhile, 28% of buyers described their negotiation experience as a “war of attrition,” where patience and persistence were just as important as the offer on the table. However, the majority – 73% – managed to keep things civil, proving that it’s still possible to haggle without holding a grudge.
Then there’s the ghosting phenomenon. About 36% of buyers reported that a seller or their agent simply disappeared during negotiations. And if that’s not enough to make you second-guess the process, 43% of respondents said they considered backing out entirely due to the stress of negotiations.
Finally, a somewhat unsettling 37% of buyers suspected that the seller or their agent was up to something sneaky during negotiations. Whether it’s a bit of strategic misdirection or outright deception, these experiences underscore the importance of transparency and trust in real estate transactions.
“Negotiating the purchase of a home is not just about getting the best deal; it’s about understanding the dynamics at play and being ready to adapt to different situations,” says Jim Gray of Agent Advice. “Our survey highlights how a combination of market knowledge, timing, and personal negotiation skills can lead to significant savings.”
