The point is to get you interested in a house that is more than your desired purchase price. For instance, say you were looking for a house around 700k. Your realtor might take you to place with value ranges of 699,000 – 849,876. You walk in and love the place, and make and offer for 700k. But then you’re told, no, they seller really wants a better offer and has countered at 830k. You end up settling for 800k because you really love the place. (At least that’s the way the realtors hope it will work out.)
Bottom line here is it’s a technique (gimmick?) to get buyers to look at more expensive houses. All part of the MLS games that get played.
