Property Services Regulatory Authority

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Any Property Services Provider (PSP) in Ireland must be registered with the Property Services Regulatory Authority (PSRA). Home-Club is registered & fully licenced with the Property Regulatory Authority, PSRA Licence 004270.  The mission of the PSRA is to control and supervise the Property Services Providers (PSPs) ie Auctioneers, Estate Agents, Letting Agents and Management Agents. They work to protect the interests of the public by ensuring that high standards are maintained in the delivery of property services.

The PSRA fulfils this mission through licensing and regulating Property Services Providers. Their remit includes, licensing all such services providers; the provision of a complaints investigation and redress system for consumers; the setting and enforcement of standards in the provision of property services and the maintenance of a compensation fund.

The PSRA is also responsible for three Public Registers namely the Property Price Register, the Commercial Lease Register and the Register of Licensees.

Regulation not only includes a licensing requirement & annual renewal, but also scrutiny by the Authority during the course of complaint investigations, audits or general inspections. The Authority has the power to sanction a licensee up to and including the suspension or revocation of a licence. The Property Services (Regulation) Act 2011 (the Act) provides for a wide range of measures designed to ensure that licensees operate in a fashion that is fair to their clients. The Act also provides a significant degree of assurance to the general public and security for the clients of licensees. Inspectors of the Authority have comprehensive powers to carry out investigations into complaints of improper conduct. Where it considers it necessary, the Authority may bring a prosecution against a licensee which may result in either a large fine or imprisonment or both. Where a person suffers a loss due to the dishonesty of a licensee the Authority may award compensation from the “Compensation Fund” which it will be required by law to maintain. All licensees pay into the Compensation Fund each year.

One of the functions of the Authority is to set standards for the provision of property services. A Code of Practice sets such standards of ethical behaviour and details how property services providers should deal with each other, their clients and the public.

The Authority has produced a Code of Practice for Property Services Providers (Auctioneers and Estate Agents)  and sets out the minimum standards to be expected of Auctioneers and Estate Agents in the provision of property services.