Dáil Éireann Debate, Tuesday - 5 March 2024
492. Deputy Michael Healy-Rae asked the Minister for Justice if she can address matters in relation to the Auctioneers and House Agents Act 1947 (details supplied); and if she will make a statement on the matter. [10533/24]
View answer493. Deputy Michael Healy-Rae asked the Minister for Justice if she plans to amend the Property Services (Regulation) Act, 2011 with regard to the bidding process (details supplied). [10538/24]
View answerI propose to take Questions Nos. 492 and 493 together.
The Auctioneers and House Agents Act, 1947 was repealed by the Property Services (Regulation) Act 2011, which provides for the licensing and regulation of property services providers (auctioneers, estate agents, letting agents and property management agents) by the Property Services Regulatory Authority (PSRA).
The Property Services (Regulation) Act 2011 sets out conditions that property services providers, who are licensed under the Act (licensees), must comply with. In addition, the Property Services (Regulation) Act 2011 (Minimum Standards) Regulations 2020 (S.I. No. 564 of 2020) (Minimum Standards Regulations) set out minimum standards to be observed by licensees in the provision of property services.
With regard to bids (offers) on properties offered for sale, the position is that in accordance with section 61 of the Act, where land (including residential property) is offered for sale other than by auction, a business (licensed property services employer or independent contractor) is required to retain a record for a period of not less than 6 years, of all offers received, including conditional acceptances, in respect of the sale.
In addition regulation 15(2) of the Minimum Standards Regulations imposes an obligation on a licensee to provide written confirmation of receipt of an offer, for the purchase of land, to the person who made the offer. Regulation 15(3) provides that a licensee shall not express or imply to any person that an offer has been received unless that offer has been received by the licensee.
Failure to comply with a provision of the Act, or regulations made under the Act, amounts to improper conduct. The Act confers extensive powers on the PSRA to investigate complaints of improper conduct made against a licensee and to initiate investigations on its own volition (compliance audits) for the purpose of ensuring compliance with the law.
Where the PSRA, following an investigation, finds improper conduct by a licensee, the PSRA has powers to impose a minor sanction (i.e. advice, caution, warning or reprimand) or a major sanction (i.e. suspension or revocation of a licence or the imposition of a monetary sanction) on the licensee. A major sanction must be confirmed by the High Court.
The PSRA can be contacted at: Property Services Regulatory Authority, Abbey Buildings, Abbey Road, Navan, Co Meath, C15 K7PY; Tel: 046-9033800; email: info@psra.ie.
The Act also provides for the establishment and maintenance of the by the PSRA a Register of residential property sales prices. The Register is available for inspection at: www.propertypriceregister.ie/website/npsra/pprweb.nsf/PPR?OpenForm.
While my Department keeps all legislation under continuous review, there are no plans to amend the Property Services (Regulation) Act 2011 in this manner at this time.
