What Does 'Offers in Excess Of' (OIEO) Mean?

"Offers in excess of" — OIEO — means the seller is stating the lowest figure they will consider. It is a floor rather than a price, used to invite competing bids above it.

That is the definition. The more useful question is what you should actually offer, and the honest answer is that OIEO is a marketing position, not a rule. Sellers do accept below it, particularly on a property that has been sitting. What decides it is how long the place has been listed and which way prices are moving — so start there rather than with the number in the advert.

At a glance

OIEO means: The lowest price the seller will consider
It is: A marketing floor, not a valuation
You can offer: Below it — sellers do accept
Strongest signal: How long it's been listed
Watch for: A listing that's been reduced already

🏷️ Property listing decoder · what it really signals

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About the price

What it signals. The agent wants competing bids above the number. It is a marketing position, not a valuation.
What to do. You can still offer below it, particularly on a property that has been listed a while — sellers do accept.
Full guide to Offers in Excess Of →

About the status

About your offer

Terms as used in England and Wales. Scotland's system differs in important ways — offers are generally binding much earlier, and "offers over" is the norm rather than the exception. The "what it signals" notes are informed judgement about how these phrases are typically used, not rules: any individual agent may mean something slightly different by them, and it is always fair to ask.

🏷️ What should I offer? · Land Registry data

Asking price

Weeks on the market

Been up a while

A realistic opening offer is around 5–10% below asking. Long enough for the seller to have noticed the viewings drying up. This is where sensible negotiation usually starts.

Market context: average England prices are up 2.3% over the past year (HM Land Registry UK House Price Index, 2026-05). In a rising market sellers can afford to wait, so deep discounts are harder to land.

Below asking	Your offer	You save	Per month
2%	£286,500	£5,595	−£29
5%	£277,500	£14,595	−£75
10%	£263,000	£29,095	−£150
15%	£248,500	£43,595	−£225
20%	£233,500	£58,595	−£302
25%	£219,000	£73,095	−£377

Mortgage assumptions behind the monthly figures

Deposit

Interest rate

Term

yrs

Repayment (capital and interest). The default rate is the average 2-year fix at 75% LTV that lenders are currently advertising, from the Bank of England — not a best-buy rate and not the base rate. Your own will depend on your deposit and circumstances; see current rates by LTV.

Offer bands are guidance from how sellers typically behave, not a prediction — an offer is accepted or refused by a person, and a motivated seller on week two may take less than a stubborn one on week thirty. Nothing here is a valuation. Contains HM Land Registry data © Crown copyright and database right. Open Government Licence v3.0.

Key Takeaways

'Offers in Excess Of' (OIEO) means the lowest price the seller will accept, but buyers can offer more.
OIEO is used to attract buyers, especially for unique properties or in auctions.
Buyers can offer less than OIEO, but they need good reasons to convince the seller.
It's not the same as the 'Asking Price', which is what the seller hopes to get.

What Does 'Offers in Excess Of' Mean?

'Offers in Excess Of' is a pricing strategy adopted by sellers or estate agents while marketing a property. This term suggests that the stated price is the minimum acceptable offer, and anything below this figure is likely to be dismissed.

However, this does not restrict potential buyers from submitting bids higher than the stated price, potentially leading to a profitable outcome for the seller.

Why Use 'Offers in Excess Of'?

The decision to market a property with an 'Offers in Excess Of' price tag can be attributed to various factors.

Market Strategy

Often, this approach is used as a strategic manoeuvre by estate agents. They believe that advertising a lower price, albeit with an OIEO tag, could attract a larger pool of potential buyers.

Consequently, the competition amongst buyers could drive up the offers, inching closer to the seller's desired value.

Unique Properties

In some instances, the property in question may be unique or located in an area where property values are exceptionally varied. For instance, properties with extraordinary makeovers or architecturally distinct features can be challenging to price accurately.

Here, using an 'Offers in Excess Of' label can invite a range of bids, helping gauge the market's valuation of such unique properties.

Auction Scenario

Alternatively, the OIEO term is used when a property is being sold via auction or an open-house event. The property is priced competitively, sometimes lower than the actual valuation, with the hope of sparking a bidding frenzy.

This tactic has the potential to yield a final price higher than the initial asking price.

Regardless of the underlying reason, the OIEO pricing strategy could be advantageous for both buyers and sellers. For the seller, it ensures that the minimum acceptable price is clearly communicated, while for the buyer, it provides a clear starting point for negotiations.

Should Buyers Offer Less Than the OIEO Price?

While bids below the 'Offers in Excess Of' price are likely to be dismissed, there is no hard and fast rule prohibiting such offers. If the property has been on the market for an extended period, or if the OIEO price is significantly above the average price of similar local properties, buyers may consider making a lower offer.

Historically, a large share of homes have sold for less than their original asking price, though this shifts with market conditions. Buyers should not hesitate to submit an offer that they believe accurately reflects the property's value.

However, such 'below OIEO' offers should ideally be accompanied by convincing reasons that highlight the benefits of accepting the lower bid. A well-judged offer is very different from a low-ball offer, which sellers are far more likely to dismiss outright.

For instance, demonstrating that you have a mortgage agreement in principle and can proceed with the purchase immediately might give your offer an edge, despite it being lower than the desired price.

The Difference Between 'Asking Price' and 'Offers in Excess Of'

While both terms refer to the price of a property, there is a subtle distinction between the two. The 'Asking Price' is the specific amount that the seller hopes to receive from the sale of the property.

On the other hand, 'Offers in Excess Of' is essentially the minimum price that the seller is willing to accept, and hopes that the actual sale price will exceed this minimum threshold.

How Much Should a Buyer Offer on an OIEO Property?

While the 'Offers in Excess Of' term provides a benchmark, there is no definitive guide dictating how much a buyer should offer on an OIEO property. Essentially, the offer should reflect the property's perceived value to the buyer.

All offers, irrespective of the amount, must be forwarded to the vendor, ensuring fair play. The vendor then has the discretion to evaluate all offers before making a decision.

Is it Beneficial to Sell a Property Using 'Offers in Excess Of'?

The decision to market a property using the OIEO price strategy can have varying outcomes. Some experts caution that adopting this approach might lead to overpricing the property, thereby limiting interest from potential buyers.

Conversely, others argue that this tactic could attract a larger pool of interested parties due to the initially lower price. Furthermore, the competitive dynamic could lead to offers exceeding the seller's original expectations, making it a potentially profitable strategy.

Other Terms Similar to 'Offers in Excess Of'

While 'Offers in Excess Of' is one of the common pricing terms used in property listings, there are several other phrases that buyers and sellers should familiarise themselves with.

Price on Application (POA)

'Price on Application', or 'POA', is typically used for high-end, exclusive properties. Rather than listing a specific price, interested buyers must contact the estate agent to ask about the price.

Offers Invited

'Offers Invited' is another term often seen in property listings. This phrase is usually used when the estate agent finds it challenging to assign a definitive price to a property.

Consequently, potential buyers are invited to submit their offers, giving the estate agent insight into the property's perceived market value.

Can You Offer Below In Excess?

These terms are used to rule out Buyers and create a mentality that the property is worth a certain value. Ultimately, there are no rules and if you make an offer of any value, it will be passed on to the property owner to make a decision.

What Should You Offer When It Says Offers In Excess Of?

When you see a property with "Offers in Excess Of" (OIEO), figuring out what to offer can be tricky. If the price seems fair and fits your budget, you can offer that amount or a bit more, it's going to give you the best chance of securing the property amongst competition.

But if the price looks too high or the property isn't selling well, offering less might be okay. Just explain why you're offering less, like mentioning repairs or local market trends.

Finding the right balance between a good offer and property value improves your chances of success.

Navigating the property market can seem daunting, but understanding the terminology can significantly simplify the process. Whether you're a buyer or a seller, the 'Offers in Excess Of' term plays a crucial role in property transactions.

By understanding its meaning and implications, you can make informed decisions that align with your financial goals.

Offers in region of — when a seller is flexible instead
What is a low-ball offer? — reading the seller's position
When did I move into my house? — finding the date from the Land Registry

More estate agent jargon: Sold STC · Let agreed · Under offer · Vacant possession · Offers in region of · Offers over