TODAY will be a busy one for the National Property Services Regulatory Authority (NPSRA).
Not only is it launching its public register of licensed auctioneers and a code of practice for the industry, it's also launching its website and opening its new offices in Navan.
According to the regulatory authority, all but six agents have consented to having their details listed on the public register. The authority obtained the names of licensees for the register from Revenue but had to have permission from the agents to display them. While 2,795 consented, a mystery six refused to give details under the Data Protection Act.
A letter has been circulated by the authority to agents "inviting" them to sign up to the code of practice which sets out a minimum standard of professional conduct and incorporates a compliance system which enables complaints to be investigated.
Until legislation establishes the authority on a statutory basis next year, this will be voluntary but Tom Lynch, chief executive designate of the authority expects there will be high compliance. While it's an invitation for now: "If people don't sign up, we'll be asking why."
What will happen if agents don't sign up is not quite clear. When the legislation is enacted errant agents may have their membership of IPAV or IAVI suspended or their licence revoked. Until then the stiffest sanction will be a "severe reprimand".
