Government approves plan for property sale legislation
Minister for Justice Michael McDowell has announced that the Government has approved his proposals to establish the Property Services Regulatory Authority Bill, relating to the sale of property.
The legislation will give effect to some of the recommendations of the Auctioneering/Estate Agency Review Group.
This will include the establishment of the Property Services Regulatory Authority, to assume responsibility for the licensing and regulation of property service providers, including auctioneers, estate agents and property management agents.
“The purchase of property, especially the purchase of a private dwelling, is one of the most significant financial transactions that most people enter into during their lifetimes,” said Tánaiste McDowell.
“It is in their interests, and therefore in the public interest, that the property services sector operates to high standards of probity and diligence and that its services are provided in a professional, efficient and transparent manner.
“The overall objective of the Bill is to update, streamline and reform the property services licensing system and to improve standards in the provision of services. Increased consumer awareness and protection will in turn lead to improved consumer confidence in the property services market.”
