I left out the "accepting offer" option - not because I dont believe its a good option because if the price is right it definatley can be after taking into account transaction costs.
Unless it is someone desperate for that particular property more than likely it's an agent letterbox dropping on behalf of a delevoper client trying to get a suitable property type at a lowball price (in your case corner lot that they can use the 5% rule to develop triplex) and normally leads to disappointment so didn't want to seem overly pessamistic.
Either way, whats the harm in asking the agent what they will offer and then telling the agent the lowest you would accept? You're the holder of the land and the possible seller here so there's no need to be intimidated by sales people.
