12:11 PM, 6th May 2022, About 3 weeks ago 1
The National Trading Standards Estate and Letting Agency Team (NTSELAT) has released its opinion, with the collaboration of the Competition and Markets Authority (CMA), on the use by agents of the term price on application (POA) in property listings. The settled decision was that this contravenes consumer protection legislation.
This opinion was requested to provide a view on the use of POA as part of the ongoing process to improve the disclosure of material information on property listings.
Senior Manager of the NTSELAT, James Munro, said:
“I am pleased to be able to provide a clear position that the use of ‘POA’ or ‘price on application’ in property listings is unlawful. I am grateful to colleagues, the CMA and legal experts for their input and we hope this clarity will be helpful for property portals and agents as they prepare their listings. This position will form part of our general industry advice and guidance moving forward.”
However, chief executive of Propertymark, Nathan Emerson, commented: “The use of ‘POA’ is a tried and tested method of marketing by agents in very specific and appropriate circumstances. For example when there may be no comparable property on the market or if a vendor prefers an element of discretion about its value.
But he also admitted that: “Trading Standards’ has taken the view that it’s confusing for consumers and in updating its guidance it is giving clarity for agents, buyers and sellers.”
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|