Different types of “for sale” prices

paulj2021

Hi all, 
I’ve just put my property up for sale, and listed it with just a simple price, but I notice on the online sites that some other local properties are “offers over” and others have “guide price” listings, or a guide price range, or “fixed price” in the listing. 

Can I ask, what are peoples options of these sort of listings, do some of them make the properties seem more competitive, or do some of these turn you off as a buyer?

Gavin83

They make no difference to me. I’ll offer whatever I think the house is worth regardless of what the advert says.

Slithery

I ignore them and just offer whatever I'm prepared to pay for the property.

hazyjo

This often comes up. Most will ignore it and most also hate "offers over".

Irishpearce26

We put our house up as 'offers in the region of' because we had an idea of what the house was worth but also had a low figure we could accept to make our next move viable. 'Guide price' tends to state they don't know what they want but are open to offers. 'Offers over' pretty much states that the seller wants a bidding war in the hope that someone will pay over the odds.

StandingInTheSun

My rough understanding:

"Offers around" - May be willing to take slightly under for the right buyer (EG cash or chain free)

"Asking price" - Offer the price and the seller will accept without a bidding war

"Offers over" - Bidding war

Obviously exceptions to every rule but this is generally what I've found.

fishfingerbutties

I wish they would do away with them completely. There is no legal meaning, they are marketing terms nothing else.
It doesn't put me off, but as others say I just completely ignore them.

sw7

In the area we're buying, listings have changed over the past few months from "Asking Price" to "Guide Price" as the market has gotten more competitive. Does it mean anything? Probably only that the estate agents aren't sure either, but there's been a definite uptick in sealed bids and properties going over the asking price.

Anecdotally, we did have one estate agent who refused to let us a view a property with a guide price that was exactly our top budget. His rationale was they were expecting higher offers, but who knows.

To answer the question though, it doesn't put me off. Even if they said "offers over", I'd still go lower if it seemed overpriced.

AnotherJoe

Irishpearce26 said:

We put our house up as 'offers in the region of' because we had an idea of what the house was worth but also had a low figure we could accept to make our next move viable. 'Guide price' tends to state they don't know what they want but are open to offers. 'Offers over' pretty much states that the seller wants a bidding war in the hope that someone will pay over the odds.

saying "in the region of" is an open invitation that you'll accept a lower bid when someone might have bid higher or even AP to grab it. Its telling potential buyers straight away you dont really want what you are asking.

Dont do it again

AdrianC

paulj2021 said:

I’ve just put my property up for sale, and listed it with just a simple price, but I notice on the online sites that some other local properties are “offers over” and others have “guide price” listings, or a guide price range, or “fixed price” in the listing. 

Can I ask, what are peoples options of these sort of listings, do some of them make the properties seem more competitive, or do some of these turn you off as a buyer?

It's all meaningless guff.
Ignore the wording, look at the number - but also look at what else is on the market and what else has recently sold...

THAT's what'll give you a ballpark for what's reasonable to offer.

Of course, there may well be some numpty who's going to offer more than is reasonable, or the seller may be an unrealistic fool...

Never get emotionally invested to the point that you're going to wave more money than you think it's worth. Always be prepared to walk away - there are other houses...

okigen

Offer in excess of meaning they want at least the amount stated there, but I have seen so many ads that have the figures lowered as the time goes by (and still stated as oieo 😹).