This is one of the biggest things buyers misunderstand when entering the market.
A price guide is rarely a clean reflection of what a property is worth. More often, it is a tool used to create enquiry, generate competition, and position the negotiation in a way that benefits the seller.
That does not mean every guide is misleading.
But it does mean buyers need to stop treating the advertised price as evidence.
The real value sits in the detail:
Recent comparable sales.
Current buyer depth.
Property condition.
Land, layout and position.
Vendor motivation
Competing interest
Contract terms
The quality of the asset itself
A property listed at $1.2m may be worth less.
It may be worth more.
Or it may simply be a campaign designed to let the market decide.
The mistake is making decisions around the guide instead of the evidence.
Good buying requires a clear view of value before emotion, urgency or competition take over.
That is where buyers leave themselves exposed.