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Once a buyer has found a home that they would like to make an offer on, how much do they offer in today's market?  A savvy buyer's agent should do their home work on behalf of the buyer.  The first thing that should be looked at is whether the property has had any recent price drops as well as how many days it has been on the market (DOM).  The type of listing (Regular, Short Sale, REO/Foreclosure) is another important parameter in the offer process. 

Next, the Realtor representing the buyer should look for comparable sales in the neighborhood for the type of listing that the offer is going to be made on.  That MLS research should give the buyer an idea of the percentage of list price to make an offer on.  As an example, if the buyer was making an offer on a short sale and research showed that short sales were selling for 88-93% of list price, then the offer should be in this ballpark. 

What a buyer doesn't want to do in this example is offer something like 70% of list price and hope to get a deal.  The bank that has approved the short sale knows the market as well and simply will not accept a low offer. 

The key to any offer is to get it within market range for the type of listing that the offer is being made on.  Offering a seller way below market value is wasting time, energy, and resources of all parties involved.  Sometimes sellers are offended by an initial offer and will not consider offers from the particular buyer in the future.