Every low ball is different.
I successfully completed one last week for 15+ % off the listing price on a brand new listing. Circumstances allowed us to try and although the odds were very slim, there was a reason to try it.
Am working on one right now about 13% less than list. This is a case of the property being over priced and my job is to make the sellers realtor understand that they messed up on the pricing. I think this one will work out as well!
Parted ways with a buyer on the weekend because of low ball interests. They wanted to offer 100k less on a 350k home. A complete waste of my time and just because they see prices dropping to these levels (i try to type that without laughing), doesnt mean that is where we are today.
Think logically as to reasoning behind a low ball.
Why in the world would a seller accept way less than their asking price? If - a big if they were willing to accept a huge lowball, would it not make sense for them to reduce their price to that price they would accept and watch multiple offers come in and end up selling for more?
Again - there are situations where it works and you can find reasoning behind the low ball but your view on where the market is headed is not one of them.
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