Property Advertised Prices Explained

Real Estate Agents often use different strategies to sell properties and the advertised price often causes a considerable amount of confusion for potential buyers and even vendors who think their property is being incorrectly marketed.

Understanding the various strategies agents use can help immensely with ensuring expectations are appropriately set and will assist buyers decipher the actual price sought.

‘Price Guide on Request’, ‘EOI’ – generally used for auction campaigns (not as common for private sales). An agent generally does this to engage potential buyers on an individual basis. It allows them to have a tailored discussion with the individual situation of the purchaser (budget, timing, preferences etc). In NSW, online residential sale listings must include a price or price range where the agency agreement is entered into on or after 17 November 2026.

Also putting a price on the listing sometimes leads to prospective buyers ruling it out as they make their own assumptions on the realistic price sought and do not attend the open home, so in theory it may increase more qualified buyer inquiry.

‘Price guide over $x’ or ‘Price $x Plus’ – this wording can’t be used in NSW and Victoria, where agents must not use terms such as ‘offers over’ or ‘+’, or advertise below their estimated selling price.

In Victoria, the advertised price also can’t be below the seller’s asking price or the amount of a written offer the seller has rejected because the price was too low.

‘Price $x’ – the price listed is usually higher than price sought to allow room to negotiate. Not significantly over however, for example if $650k desired then property may be listed for $675k.

Range is provided, ‘$x to $y’ – used to provide a more definitive guide to potential buyers to ensure expectations are clear and guidelines are set for negotiation. Selling for the middle of the range is usually a good outcome. Some agents adjust the range provided throughout the course of the campaign depending on market feedback.

In NSW and Victoria, an agent’s estimated selling price must be reasonable, and if it is given as a range, the top can be no more than 10% above the bottom.

Not Disclosed – it is unusual to see a property currently for sale with this on the listing. It is frequently used by agents when the property has sold and the vendor wishes to keep sale price confidential.

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