The price type (sometimes called "price qualifier") will appear next to the asking price of your listing on Settled and other portals (e.g. Rightmove and Zoopla) to give buyers more information about the price.
Sellers don't have to set a price type and we provide you with the option to leave it blank. This can leave buyers guessing, though. If you're keen to add a price type then I can suggest doing this based on your circumstances. For example, if you were open to offers and flexible, then setting your price type as 'guide' or 'offers in the region of' could reflect this. However, if you're set on getting the asking price or more then you can use 'offers in excess of' or 'fixed price'.
This helps buyers in their decision making and means no one is exposed to time wasters. Obviously, there are price types which have to be used such as 'auction' or 'shared equity', but the others are completely optional.