LESS THAN half of all auctioneers and estate agents have signed up to a code of practice drawn up by the Government's new watchdog for the profession.
Over 2,600 firms and individuals have registered with the National Property Services Regulatory Authority but, four months after the code was launched by the Minister for Justice, Brian Lenihan, only 1,000 of these have agreed to its terms.
The authority, which originally promised to publish the list of auctioneers and estate agents operating the code at the end of December, has now decided to write again to those who have not been in contact.
The code provides for complaints from the public to be investigated by a disciplinary board, although this board will have no power to impose fines or suspend estate agents who are found guilty of misconduct.
Although the code was drawn up in consultation with the main representative bodies for the profession, the Irish Auctioneers and Valuers' Institute and the Institute of Professional Valuers and Auctioneers, and has their full support, a number of firms have raised queries about its provisions.
The authority's chief executive, Tom Lynch, said this was understandable as the code was an entirely new phenomenon for the profession and some operators would have to make changes to comply with it. He said he hoped to be able to publish a list of compliant firms by the end of this month.
The code will be voluntary until an Act formally establishing the authority is passed. The authority will remain on an interim footing until this happens.
The Consumers' Association of Ireland has criticised the delay in bringing forward legislation to regulate the profession, first promised in 2005.
Mr Lynch said he was hopeful the Property Services Regulatory Authority Bill would be introduced before the Dáil's summer recess.
"This is a fundamental change. We're introducing proper standards of assessment, as well as insurance requirements and a compensation fund."
He said the authority had received 20 to 30 complaints from the public since it was set up last year, though none had been adjudicated upon as yet. Some of these were not genuine, "more gripes than complaints", he said.
