The abbreviation POA – price on application – often used by estate agents to generate intrigue and tempt home buyers is to be outlawed.
The ploy is sometimes used by sellers to hide how much they are asking for, according to watchdogs.
National Trading Standards (NTS), believe that buying a property can cause buyers to waste their time and cost too much.
The abbreviation POA – price on application – often used by estate agents to generate intrigue and tempt home buyers is to be outlawed
The NTS Working Group has developed new guidelines that will ban estate agents from using this tactic, even on sites like Zoopla and Rightmove.
‘The property’s price is information which the average consumer needs to make an informed transactional decision, such as to make inquiries about the property, conduct further research or arrange a viewing,’ the watchdog said.
The NTS Working Group has developed new guidelines for estate agents to ban the practice, which includes on sites like Zoopla and Rightmove.
n The average house price rose by more than £3,000 last month to hit a record high of £286,079, according to Halifax.
It is the tenth consecutive month that prices have risen – up by £47,568 from two years ago – as the property market continued its longest run since 2016.