UK
Guide price
A guide price is a figure published to show the level at which the seller invites offers, often at auction or when the seller expects offers around that level rather than a fixed asking price.
Do not treat it as a promise
A guide is not an offer to sell at that figure. Auction guides in particular can sit below the reserve, and the property may sell for more. If you publish a guide, use the figure the vendor and, at auction, the auctioneer have agreed. Do not invent a “guide” to make a fixed price look flexible.
Writing it on a listing
Say “guide price” if that is what it is, and “asking price” if the vendor has set a figure they hope to achieve. Mixing the two misleads buyers and is the sort of point portals and redress schemes look at.
Questions
What does Guide price mean?
A guide price is a figure published to show the level at which the seller invites offers, often at auction or when the seller expects offers around that level rather than a fixed asking price.
General information for agency staff, not legal advice. Rules and local practice change. Check the official source before you rely on a definition in a client letter.