Want a choccy bar? No problem. It’s got a set price, so you know exactly how much its melt-in-the-mouth gooiness costs.
Want to buy a home in England, Wales, or Northern Ireland ? Different story. You’ll see an asking price but then a baffling tag before it. This could be ‘guide price’, ‘offers over’, or ‘offers in the region of’. You might even get a price range.
So, how much does the seller actually want?
The problem is that estate agents can’t know, for sure, what a home might fetch until they test the market. Therefore, they use asking price tags to give themselves some wriggle room.
The good news, though, is that each one gives different clues as to what the seller might accept. So, let’s explain each one to help you read between the lines.
Guide price
This is one of the most common tags. But what does guide price mean? In a nutshell, it says the home should cost something close to the figure quoted, although there might be some room for negotiation.
Agents usually base their asking price on a home’s location, size and condition. But ‘guide price’ could mean they’re not entirely sure what the home’s worth. Or it might mean the agent and seller couldn’t agree on a precise figure.
So, think of ‘guide price’ as a starting point for discussion. The owner wants this price, and expects to get close to it, but there might be some flexibility.
However, remember that the home might eventually sell for more than the guide price too. It depends how many people are interested.
Offers in the region of (OIRO)
Like guide price, OIRO suggests the seller might be happy to negotiate. It basically says, ‘I’d really like this price, but I’ll listen to lower offers too.’
If you love a bit of bartering, this property price tag should get your juices flowing. Not only could it mean the agent’s unsure what the home’s worth; it might also hint the seller’s keen to sell.
But be careful before you put in a cheeky offer. Going way below the asking price might insult the seller. And that’s not good if you end up going back with a higher offer later.
Overall, think of ‘offers in the region of’ as a ballpark. Agents use this tag to encourage buyers to come forward. But it doesn’t necessarily mean you’ll get a bargain in the end.
Like all sales, the price could go up if lots of people make an offer. And some agents use a low OIRO price as a tactic to attract a frenzy of eager buyers.
Offers over
Also known as ‘offers in excess of’, this one tells you the lowest price the seller might accept. So, it’s similar to ‘offers in the region of’ but gives you a clearer steer.
Agents use this strategy for different reasons. Again, they might set a low figure to attract as many buyers as possible. This could create a bidding war that pushes the price higher.
Alternatively, ‘offers over’ could simply mean the seller needs this price to fund the purchase of their next home. In which case, there’s little room for negotiation.
Finally, some sellers might set a high ‘offers over’ asking price that’s actually more than the home’s worth. They do this hoping a super-keen buyer might cough up the inflated figure anyway.
If you suspect it’s the latter, don’t be afraid to put in a lower bid. Back up your offer by showing what similar properties in the area have sold for. And remember to get a mortgage decision in principle first. This will show you’re a serious buyer.
Price ranges
This one might seem strange. After all, why would you make an offer at the higher end of the range? Agents use asking price ranges for a reason though…
A range says the seller’s happy to negotiate. And giving actual figures – a floor and a ceiling – stops the guessing games. For example, offers below the low figure will probably be rejected straight away. Meanwhile, the high figure reveals the price the seller really hopes to get.
In truth, the seller probably expects to get a price in the middle. But nothing’s certain. So, they encourage a range of offers just in case.
After all, a low offer is better than no offer at all – especially if they really need to sell.
A flat figure
Let’s face it. Property price tags can be a little confusing. So, agents sometimes keep it simple by setting a single, clear asking price. No mind games. No guessing!
But before you start licking your lips, don’t assume agreeing a price will be as easy as buying that choccy bar.
Although your offer should be accepted if you meet the asking price (in theory), there might be rival bidders. In which case, you could need to pay more.
On the other hand, the seller might not get an offer that meets their price – meaning you could get the home for less.
What’s more, sellers don’t always choose the highest offer. A buyer’s position counts for a lot too. So, if you’ve got no home to sell, you could negotiate a discount. In fact, you might be able to negotiate a discount whatever your position.
Some homes sell for 5% under the asking price (or even more). Therefore, a flat figure doesn’t necessarily mean the seller won’t bend.
The price is right
Buying a house isn’t something you do every day. So, it’s natural to feel nervous or excited. The key is to keep calm and only pay what you can afford. Check out our range of mortgages and use our mortgage calculators to get a feel for what’s within your budget.
When you’re negotiating a price, try to put yourself in the seller’s shoes. And that’s where asking price tags can guide you. They say a lot about what the seller’s camp is thinking.
However, if you’re feeling uncertain, or getting mixed messages, just offer what you think the home’s worth. You’ll get a good idea by looking up what similar properties in the area have sold for.
Remember, any information that helps you negotiate a fair price is priceless.
This content was accurate when published on 21/04/26.
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