Reason for estate agent keeping up asking price?

Hi
We just sold our house and have been looking around for a new one (renting at the moment). We are on the email list of a few estate agents, as they take our details at viewings.

One estate agent has sent around a list of properties with the following guidance on pricing: the asking price is xxx but offers in the region of yyy will be considered.

A typical example would be 'the asking price is 495K, but offers in the region of 420K would be considered'. Its quite a big reduction and we are wondering why he just doesn't reduce the asking price to say 450K so its clearer what the seller is actually looking for?

Probably because if the EA does that then offers of 350k will come in! The EA is probably being more realistic and setting a floor for offers to stop wasting peoples time, I find it odd to actually be on the EA's side for once!

The estate agents job is to get the best possible price for the seller.

If they can get any offer in, no matter how much below the asking price, then they have amunition to go after other interested parties.