Auctioneers from all over the country gathered in Tralee last weekend to swap stories of the slowdown. It was the annual IAVI conference, postponed from last March due to foot-and-mouth, and while the overall mood was cheery enough, there was a good deal of talk about greedy vendors and cautious buyers. Although one or two auctioneers brazenly argued that now is the best possible time to buy property - this being a mere blip in the market that will shortly be corrected - most accepted that buyers are indeed sitting back and waiting to see what will happen. The waiting, it was suggested, could go on until next spring when a clearer picture will emerge, by which time vendors will have gotten over being greedy and will be just plain nervous.

There was a lot of talk, too, about big estate agency firms letting staff go and closing down branches, particularly among smaller operators who are suddenly beginning to look a lot healthier and happier because of their low overheads and loyal clientele. Members agreed that younger estate agents are beginning to realise just how tough the job can be. Anyone under the age of 30 came into the business at a time when all you had to do to sell a house was put up a board, or place a single advertisement. Now, it seems, good old-fashioned negotiating skills are required to clinch a deal. Still, though auctioneering may be about to get a lot tougher, there are still plenty of people waiting to pick up the gavel. There has been no fall-off in applications for the IAVI degree course, which now takes a staggering four years to complete. Hopefully, by the time the class of 2005 graduate, the "blip" in the market will be well and truly corrected.

property@irish-times.ie