Price vs. no price marketing: what buyers need to know
You’re scrolling through real estate listings when a particular home captures your attention. The photos are beautiful. The location works. You’re already imagining where your furniture would go.
There’s just one problem. The listing simply says For Sale or Contact Agent.
No number. No range. No immediate indication of whether the property sits comfortably within your budget or stretches far beyond it.
So, what should you do next? How can you work out whether it’s in your price range?
The ‘no price’ trend in Queensland property marketing
Many properties are now marketed without an advertised price, creating uncertainty for buyers.
For many, the next step is to contact the agent and request a property price guide to gain an indication of what the seller may accept. This is a natural and reasonable response. Buyers want to avoid underquoting, overpaying, or wasting time on properties outside their budget.
However, in Queensland, the situation is more complex than it may first appear. The absence of a price is not about withholding information or creating confusion. It is closely tied to how pricing is regulated under state legislation.
The legal reality in Queensland
Queensland legislation places strict limits on what agents can and cannot say regarding pricing. A price guide is only permissible when it reflects a genuine, seller-approved price or range.
If the seller has not set a price, it is illegal for real estate agents to give a price range to prospective buyers. This includes verbal estimates or informal guidance designed to influence buyer decisions.
This legal restriction often surprises buyers, particularly those familiar with less restrictive interstate practices. It can be a very frustrating situation when you are trying to determine how much to offer.
Why do sellers choose a no-price strategy?
If sellers set a price and it’s too low, they risk underselling their property. If they set a price and it’s too high, they risk being dismissed by potential buyers.
A no-price strategy allows sellers to introduce their property to the market without locking in a figure. It creates room for genuine buyer interest and healthy competition, while allowing real market demand to determine its value.
Helping buyers navigate no-price marketing
Buying a house is a significant investment and we understand that, as a buyer, you need some meaningful information to help you decide whether to pursue a certain property.
With the seller’s permission, our agents can provide you with a list of comparable recent sales in the area. These sales reflect similar properties in terms of location, size, condition, and features, allowing you to independently assess market value.
This approach:
- aligns fully with Queensland legislation
- supports informed decision-making without influencing buyers unfairly
- provides real, market-based evidence rather than opinion
- empowers you to interpret current market conditions for yourself.
Making an informed offer with confidence
Before submitting an offer, it is important to understand how the property is being marketed:
- Is there a set price or price range approved by the seller?
- Or is the property being marketed without a price under a no-price strategy?
If no price is advertised, you can use the comparable sales data provided to assess value. Consider factors such as recent sale dates, buyer demand, and how closely those properties align with the home you are interested in.
This process allows you to negotiate confidently and submit an offer that is competitive, well-reasoned, and aligned with current market conditions, even without a traditional property price guide.
Final thoughts
While no-price marketing can initially feel unclear, a good agent can help you navigate this aspect of buying a home.
If you would like guidance on interpreting comparable sales or understanding how pricing works for a specific property, our team is always happy to assist with clear, compliant information to help you make a well-informed decision.