Many people automatically dismiss low pagerank websites when looking for links, either through guest posting, or link exchanges, or even blog commenting. This is misguided for several reasons, and if this is something you do, you could be missing out on valuable link opportunites.
Websites will increase in PR over time
This is especially true for people writing guest posts. If the site looks of reasonably quality, and the owner is regularly promoting it, the site will increase in value in terms of linkjuice it passes, meaning your nice anchor text link will start to have more power as time goes on. Also, it is much easier to get guest posts and links when a site is young than when it is established, as at the start webmasters are looking for every opportunity to improve their site, and are generally more open to collaborations. Once they get high PR, they are bombarded with requests for links and guest posts.
It helps with a more natural looking link profileGoogle is looking for link diversity when it comes to ranking your site. A natural looking site will have a larger number of low pr links, and a lower number of high pr links. If you only bother with links from high pr sites, for a start you will end up with less links as they are harder to get, and this sort of behaviour looks suspiciously like you are buying links, which google frowns upon. Another point worth making here is do not stress over whether the links are nofollow, as this again helps your link profile look more natural. Even if nofollow links do not pass pagerank (which is still debatable), google still sees the link and can help with other ranking factors that define the overall authority of your site.
Conclusion
In conclusion, choose where to link from based on the quality of the site, and don´t worry too much about PR. Look to create a balanced, natural looking link profile, and don´t forget that even a low power link will drive a trickle of traffic, which adds up over time.
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