Vol. 530 No. 1
155 Mr. Hayes asked the Minister for Justice, Equality and Law Reform his plans to introduce legislation to prevent auctioneers charging excessive fees for property transactions; and if he will make a statement on the matter. [26418/00]
I can inform the Deputy that under the provisions of section 4 of the Competition Act, 1991, auctioneers and valuers in Ireland may not engage in anti-competitive practices, including those which directly or indirectly fix prices or fees. In this regard, it is a matter for each auctioneer to individually determine the level of fees that he or she will charge in what is, essentially, a commercial transaction. A prudent vendor would, therefore, be advised to shop around to obtain the best rate or fee before entering into an agreement with an auctioneer.
I am informed that at present the market is served by a sufficient number of practitioners to provide vendors with choice and to generate competition. The additional benefit of competition is that it acts as a natural control on fee levels and, in this regard, provides an effective means of price control.
