Guide price

[jgm]

Apologies if this has been asked before but in our area there seems to be a trend of listing houses with a guide price range - for example guide price £375k-£400k. Different people (including agents) have given me different views of what a seller would actually be expecting / what the actual asking price is. So, if you've listed a property in this way (or even if you haven't), what would you be expecting to receive? As a buyer what would you be thinking? I much prefer straight forward asking prices...

I do not like guide range prices, and even more so, 'offers over'. They smell of control-freak sellers, and I ignore those listings from the outset.

I wouldn’t be put off a house that has this, basically a house is worth what it’s worth.
It’s no different to any other listing, on a normal listing the vendors might not accept 5% under or may go to 10% under, you don’t know untill you bid.
Offer what you think it’s worth even if this is under the range given or offers over etc.
The markets strange at the minute so I can see why sellers do this though, they’re just hedging their bets.

In my humble opinion the reason guide ranges are used is to appeal to a wider market of people when they search on rightmove... eg if their max budget is 375k then your property would come up in their search... if you put it on at 400 it wouldnt.

All i see it doing is getting people whose top budget is 375k viewing and offering with no way of going higher than 375k. So if you want more than that and dont want to waste yours and their times put it on at 400k and accept offers feom people who can afford to pay in the range.

Amen sophie... offers over is just wankerish

It also looks like you would accept 375k but want more if you can... looking a bit greedy

I would never offer over 375 as a first offer if it was 375-400

Thank you all - I agree I think it's to get into two price brackets on rightmove. It just got me thinking with the 'cheeky offer' discussion - I know someone who listed their house in this manner and thought anything below the highest figure was cheeky (presumably told by the agent that the top figure was the 'asking price'), but yet on rightmove the lowest figure is the one quoted in searches. I think it confuses sellers and buyers alike.

I also heard it was about widening the search ranges on websites.

If it's 375 to 400 then typically the buyer is looking for 400 but hoping to tempt someone searching at 375 or below to stretch themselves.