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What does Guided price mean when you see property advertising?

Guided prices are often set high to guide buyers as they explore what their maximum price should be.

Guided pricing is one-way agents help their clients establish a target point for negotiation. Agents and sellers work together in determining the desired prospective sale price, and then make sure clients have an accurate idea of what that translates to when purchasing materials, renovations or other costs related to the home – creating a budgeting guideline. Agents may also use this information to help clients understand why they aren’t able to see lower priced homes with okay interiors but not much else outside of it – even if inventory is relatively low.

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