{"id":1035,"date":"2025-04-30T02:36:51","date_gmt":"2025-04-30T02:36:51","guid":{"rendered":"https:\/\/www.yopa.co.uk\/homeowners-hub\/?p=1035"},"modified":"2025-05-07T19:04:45","modified_gmt":"2025-05-07T19:04:45","slug":"what-guide-price-means","status":"publish","type":"post","link":"https:\/\/dy36-2.stage.yopa-dev.co.uk\/homeowners-hub\/what-guide-price-means\/","title":{"rendered":"What \u2018guide price\u2019 means\ufeff"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">In the property world, the guide price\nrefers to the approximate amount the owner hopes to achieve. It\u2019s not a fixed\nfigure, but rather an indication of the seller\u2019s expectations. Especially with\nhigher-value homes, listings may also include terms like <a href=\"https:\/\/www.yopa.co.uk\/homeowners-hub\/what-does-offers-in-excess-of-or-oieo-actually-mean\/\">\u2018offers\nin excess of\u2019 (OIEO)<\/a> or \u2018offers in the region of\u2019 (OIRO) alongside the\nasking price. \u2018OIRO\u2019 generally suggests there may be some room for negotiation,\nwhile \u2018OIEO\u2019 implies the seller is looking for offers above the stated figure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>So, why use \u2018guide price\u2019?<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Opening the floor to\nnegotiation <\/strong>\u2013 Some agents use guide prices as a\nball-park figure to invite buyers to make an opening offer and gauge interest,\nparticularly for a hard to <a href=\"https:\/\/www.yopa.co.uk\/property-valuation\">value<\/a>\nhouse or location. Whilst you <em>can<\/em> offer below guide price in theory, it\nis unlikely that the vendor will accept, and a very low offer could impact your\ncredibility as a buyer. Exceptions to this may be if the property has been on\nthe market a long time, they <a href=\"https:\/\/www.yopa.co.uk\/homeowners-hub\/how-to-avoid-a-property-chain\/\">need\na quick sale<\/a>, or your <a href=\"https:\/\/www.yopa.co.uk\/homeowners-hub\/negotiating-a-house-price-after-a-survey\/\">survey<\/a>\nor <a href=\"https:\/\/www.yopa.co.uk\/homeowners-hub\/guide-to-mortgages\/\">mortgage<\/a>&nbsp;valuation\nhas thrown up some unexpected results. Otherwise, assume that their guide price\nis the vendor\u2019s bottom-line. <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Attracting more buyers<\/strong> \u2013 Guide prices are often used to encourage more potential\npurchasers to come and view the property. Even if the <a href=\"https:\/\/www.yopa.co.uk\/homeowners-hub\/what-to-do-two-estate-agents-valuation-differs\/\">vendor\nis after a higher sale price<\/a>, setting the guide price slightly lower will\nopen the property up to a wider audience, particularly for online listings. <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Guide and reserve prices at\nauction<\/strong> \u2013 In this instance, guide prices are the\namount from which the bidding should start. The \u2018reserve price\u2019 is the minimum\namount that the vendor of the property is willing to accept. Auctioneers can\u2019t\nsell the property for below the reserve price. Although auctioneers list guide\nprices, the reserve price remains confidential between the auctioneer and the\nseller \u2013 buyers won\u2019t find out what it is.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The use of a guide price can give useful insight into the seller\u2019s expectations from the outset. That said, if the property has been on the market for some time or appears overpriced for the area, there\u2019s no harm in putting forward a slightly lower <a href=\"https:\/\/www.yopa.co.uk\/homeowners-hub\/much-i-offer-house\/\">offer<\/a>. They can only say no! <\/p>\n\n\n<div class=\"valuation-widgets\">\n    <div class=\"valuation-widgets__col\">\n        <a href=\"https:\/\/www.yopa.co.uk\/online-valuation\" class=\"valuation-widget\">\n            <div class=\"media\">\n    <div class=\"media__media\">\n        <img decoding=\"async\" src=\"https:\/\/dy36-2.stage.yopa-dev.co.uk\/homeowners-hub\/wp-content\/themes\/yopa\/assets\/images\/icon-house.svg\" alt=\"\" role=\"presentation\">    <\/div>\n    <div class=\"media__inner\">\n        <div class=\"media__heading\">\n            Instant online <span class=\"chevron\">valuation<\/span>        <\/div>\n        <div class=\"media__content\">\n            <p>Get a rough estimate of your home's value now.<\/p>        <\/div>\n    <\/div>\n<\/div>\n        <\/a>\n    <\/div>\n    <div class=\"valuation-widgets__col\">\n        <a href=\"https:\/\/www.yopa.co.uk\/property-valuation\" class=\"valuation-widget\">\n            <div class=\"media\">\n    <div class=\"media__media\">\n        <img decoding=\"async\" src=\"https:\/\/dy36-2.stage.yopa-dev.co.uk\/homeowners-hub\/wp-content\/themes\/yopa\/assets\/images\/icon-currency.svg\" alt=\"\" role=\"presentation\">    <\/div>\n    <div class=\"media__inner\">\n        <div class=\"media__heading\">\n            Face-to-face <span class=\"chevron\">valuation<\/span>        <\/div>\n        <div class=\"media__content\">\n            <p>Book an appointment with your local Yopa agent.<\/p>        <\/div>\n    <\/div>\n<\/div>\n        <\/a>\n    <\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>In the property world, the guide price refers to the approximate amount the owner hopes to achieve. It\u2019s not a fixed figure, but rather an indication of the seller\u2019s expectations. Especially with higher-value homes, listings may also include terms like \u2018offers in excess of\u2019 (OIEO) or \u2018offers in the region of\u2019 (OIRO) alongside the asking<\/p>\n","protected":false},"author":4,"featured_media":4114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What \u2018guide price\u2019 means\ufeff - Yopa Homeowners Hub<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dy36-2.stage.yopa-dev.co.uk\/homeowners-hub\/what-guide-price-means\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What \u2018guide price\u2019 means\ufeff - Yopa Homeowners Hub\" \/>\n<meta property=\"og:description\" content=\"In the property world, the guide price refers to the approximate amount the owner hopes to achieve. It\u2019s not a fixed figure, but rather an indication of the seller\u2019s expectations. 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