In real estate, POA stands for "price on application". It is a term used when a seller wants to keep their propertys price a secret and requires buyers to approach their estate agent to receive the price. POA is often used for more expensive or unique properties, and it can be beneficial for sellers in several ways:
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Privacy: Marking a property as POA can protect the sellers privacy, especially if they have yet to establish a selling price or are unsure how much they can get for a property.
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Exclusivity: POA can create a sense of exclusivity, which can attract buyers who prioritize this kind of privacy.
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Potential buyers: When a buyer contacts an estate agent to find out the price, their details can be held on file and contacted in the future, which can be beneficial if the buyer is not interested in the property at the initial price but might be after a price reduction or if the agents personal touch convinces them.
However, marking a property as POA can also create an additional barrier between the seller and potential buyers, which can make buyers more cautious and potentially lead to a breakdown of trust between the seller and the buyer, making a house sale more likely to fall through.