Guide price - what does it mean to you?

[Loueytb3]

I am a little confused by houses which are advertised with a "guide price". Would you expect to pay over the price, or under?

We are about to put our house up for sale and lots of the other houses in a similar price bracket are advertised with a "guide price" so it's difficult to tell what they are expecting to get.

I know the place we are moving to has had houses which have sold for more than the guide price, but I'm not sure if this is normal (popular location and limited housing stock).

Im an estate agent I avoid listing with a guide price unless the vendor is adamant. It can confuse buyers because a guide price on one property can mean something different to a guide price on another.

I've had people insist on it but wouldn't accept an offer less than £10k above, I've had people use them but accept offers way below. I've also had quite a few divorces where vendors won't agree on a listing price amicably between them so get 3 valuations and if all at different prices will go smack in the middle of the 3 valuations and stick it up as a guide price.