Offers over $900,000 is not a price. It is a starting line, and occasionally not even that.
Interstate buyers in particular find Queensland campaigns confusing, because the conventions here are genuinely different.
Nundah is a good place to see it play out.
The suburb draws first home buyers, downsizers, young families and investors all at once, so competition arrives from several directions and the marketing reflects that.
Why Queensland campaigns look different
In Queensland, a property being taken to auction cannot be advertised with a price. No guide, no range, no number at all. That is a rule about how auction properties are marketed, and it means the absence of a price tells you nothing about value.
Outside of auction, agents are free to advertise however they choose, which is how you end up with offers over, for sale by negotiation, contact agent, expressions of interest and best and final all appearing in the same week for similar homes. These are marketing decisions, not valuations.
Offers over, and what sits behind the number
An offers over figure is usually set below where the seller expects to land.
That is the point of it. It widens the pool, gets people through the door, and creates competition.
How far below varies enormously. Sometimes it is close to the mark. Sometimes the seller has no intention of accepting anything near it. The number reflects a strategy agreed between an agent and a seller, and that strategy exists to serve the seller. Which is fair enough, because that is who the agent works for.