It's not a percent as much as it's a to lower into a new price bracket. If you are not going to alert a new set of buyers your missing the point. It's not just to alert previous folks that saw the home, it's to bring in a whole new buyer pool that were just barely priced out before. 

Few take enough off to make it worth revisiting a property.

It depends... lots of variable here that would justify a price adjustment decision.

I'm looking for a new Price Point to attract a new group of Buyers

That depends on the home and the local market demands in my opinion.

Improvement to market is always the objective. The amount of adjustment depends upon the mistaken pricing initiallly!

A price reduction should be enough to increase potential buyers. Such as $204900 to $199900 is effective. A drop from $209900 to $201900 although greater in amount, does not open the price into the search requests for buyers under 200k. So price point does matter. No matter what price should be at or below what market value is to bring about a quick sale. 

10% at a time

Tony and Suzanne Marriott, Associate Brokers usually it is in thousands of dollars and not percentage of price. $5,000 to $30,000 (in one specific incidence.)

That really depends on my seller and what they want to do. But a lot of things come into play. I don't use a standard percentage. 

There is no set amount

I don't know that there is a "percentage" per se, but you do want to make an impression in terms of your reduction. Why reduce on an amount that is easily negotiated? 

There is no typical as each property and location is different. I just want a trend in the right direction.

It is relative to the specific home, competition, market forces, etc. No set rule or percentage.

I base it on the competition at the time.

as much as is needed or as close as the seller will agree to, at that point!!! but with a full understanding that it's not going to be enough....

 Not a percent but $2000 at a time depending on the orignal price.

Depends.  It's not a percentage, it's more of either getting into a price bracket (+10k) or to put my listing at the lowest price amongst immediate competitors (so that we show up first on the list)... those drops are maybe a hundred bucks.

Maybe a thousand or two in DEVALUING the property.

This activity is not about 'price improvement' but to renew or stimulate those on the 'watch-list' including area agents.

The same can be accomplished by IMPROVING the price to a higher level which actually stimulates more calls regarding what improvements has the owner made. For example, "Have the replaced the roof?"

Either way, such adjustments is more related to marketing than it is to value.

IF the sellers time requirements change, then we all know price does compress the time-line.

With the CIS Score it is already known what the property will sell for, the unknown is when.

There is no typical. Depends on the market, price point. What cracks me up are the $100 or $500 shift you see in some listings, and over and over

It depends.  Really.  On the initial price point -- we were aiming to high or we were totally off.   It needs to be significant to make a difference and likely where a seller will scream ouch -- if there is no "hurt" involved, it's probably not enough of a reduction.  

Unaware of any price reduction ever. Seller want more.

Only business opportunities.

The seller makes the decision to change the list price.  I only provide recommendations and analysis.

Tony and Suzanne Marriott, Associate Brokers Of course it depends on the current market, but I usually let the comps speak for themselves.

Depends on the price and what the market is doig.

Minimum 1% but ideally enough to gain results from the next "typical" tier of search criteria.