A guide price is far more likely to be subject to negotiation and for some estate agents, it can be a way to encourage more people to come and view the house for themselves.
In property selling terms, the guide price is a value that gives buyers a general idea of how much the seller wants. The final selling price could end up being higher or lower than the guide price. In simple terms, it is just a rough idea of what the selling price will be.
The phrase ‘guide price’ when marketing your property on portals can leave it open to interpretation. In fact, the prefix price like “guide price” or “price from” is just a sales technique and is meant to attract the buyer’s interest.
Definition of “guide price” from the Cambridge Advanced Learner’s Dictionary: “the price that something is expected to be sold for, especially in an auction”
What’s the difference between guide price and asking price?
The Guide Price
The Asking Price
What’s the purpose of the guide price?
A price label like ‘Guide Price’ exists because every property has its own situation and variables and it’s not always simple enough for a value to decided by one price tag. The property in question might be worth much more than what someone’s knowledge can be at that moment and may require some explanation.
The seller may also instruct an estate agent to undertake various strategies to present the property in its best light. It might be best to call and ask the agent directly since property advertisements aren’t contractual obligations. In reality, there isn’t much difference between all the difference price tags.
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Thinking of selling or renting using a price prefix like “guide price”? Contact Love Your Postcode and let us know. One of the most agonising decisions when selling your home is what price to put it on for, and we make it easy.
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