Final answer:
The offer of $181,000 on a property listed at $193,000 is 93.8% of the listing price, calculated by dividing the offer by the listing price and multiplying by 100.
Step-by-step explanation:
To determine the percentage of the offer relative to the listing price for Seller Trevor's property, the formula is applied: (Offer ÷ Listing Price) × 100. In this case, the offer is $181,000, and the listing price is $193,000.
Plugging in the values into the formula:
\[ \left( \frac{181,000}{193,000} \right) \times 100 \]
The result is approximately 0.9378238, which, when multiplied by 100, yields 93.78238%. Rounding to one decimal place, the percentage of the offer relative to the listing price is 93.8%.
This calculation is valuable for both buyers and sellers in real estate transactions. It provides a clear understanding of the relationship between the offered amount and the listed price, offering insights into the negotiation dynamics. In this instance, the offer of $181,000 represents 93.8% of the original listing price of $193,000.
Real estate professionals and individuals involved in property transactions often use this percentage to gauge the competitiveness of an offer, negotiate effectively, and make informed decisions. It serves as a quantitative measure to assess how closely the offer aligns with the seller's initial asking price, aiding in the evaluation of the offer's strength and appropriateness within the context of the current real estate market.