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DaveyDave

Non-Specific Guide Prices

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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

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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

when people search for a house they have a price in mind, so it widens the net of the number of people that will look at the property.

by saying 200-240k people with a budget of say 190k through to 250k will take an interest at first glance. i.e its more to do with the initial search results and getting more views/potential buyers.

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when people search for a house they have a price in mind, so it widens the net of the number of people that will look at the property.

by saying 200-240k people with a budget of say 190k through to 250k will take an interest at first glance. i.e its more to do with the initial search results and getting more views/potential buyers.

So why not just state the guide price at 200k then?. The fact is that such a property would be registered on rightmove at a price of 200K and not across the stated price range.

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So why not just state the guide price at 200k then?. The fact is that such a property would be registered on rightmove at a price of 200K and not across the stated price range.

There are a lot of idiots in the world but they still want a 'bargain' u list at 200-240 and one of the idiots will offer 200 and think they have done well, actually they have overpaid, list it at 200 and they offer 190 just so they think they getting somewhere on the bidding. So this is a way to try and keep the price up

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Because the lower one is what the vendor wants and the range won the business

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

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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