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Non-specific Guide Prices
DaveyDave_3
Posts: 79 Forumite
Hi All,
Why do estate agents advertise property with a guide price in range?, like say, 200-240k?. What are they trying to achieve by doing this?. Clearly unless there is some form of bidding war, nobody is going to offer a penny above the lower price so why bother?. As a potential buyer I find this quite annoying especially as the quoted ranges can sometimes equate to 10-15% of the price of the property which could strongly affect my view on whether it would be a property worth pursuing.
I have a theory that the upper value is what the vendor wants and the lower one is what the estate agent thinks he/she can get for it.
Dave
Why do estate agents advertise property with a guide price in range?, like say, 200-240k?. What are they trying to achieve by doing this?. Clearly unless there is some form of bidding war, nobody is going to offer a penny above the lower price so why bother?. As a potential buyer I find this quite annoying especially as the quoted ranges can sometimes equate to 10-15% of the price of the property which could strongly affect my view on whether it would be a property worth pursuing.
I have a theory that the upper value is what the vendor wants and the lower one is what the estate agent thinks he/she can get for it.
Dave
0
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