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House Prices In Mayo
Calling all housebuyers: Refuse Estate Agents Price Rise!
I find it truly unbelievable that estate agents are considering increasing their commission rates for property sales in anticipation of a slow down in house prices. At no stage over the last decade had estate agents in Mayo considering lowering their rates despite them making massive profits on the back of the property boom all over the country.
The Institute of Professional Auctioneers and Valuers met this morning (Monday, 5th) to consider increasing their rates by up to 33% due to a slowdown in the housing market. This will mean house-buyers in Mayo who already have to pay record prices, forking out an average €1,750 extra for house sales. Yet it is auctioneers and estate agents who have done very well over the last decade. They made massive amounts of money from their commission rates, yet never offered to lower these to make life easier for buyers forced to pay record prices for even the most modest properties.
Once again, this move underlines the need for new legislation to regulate auctioneers and estate agents. Indeed many auctioneers and estate agents have themselves sought increased regulation.
Throughout the recent property boom Labour has made numerous proposals at various different times for new legislation to: 1) Outlaw price gazumping 2)Ensure housing estates are properly completed: there are 33 such estates in Castlebar alone. 3) egulate auctioneers and estate agents 4) Give homebuyers increased consumer protection
On each occasion the Government has shot down these proposals. In doing so they have exposed home buyers in Mayo and all over to exploitation and rip-off in the housing market. While the market may be slowing down to some extent, this is not a reason for such sharp practice to continue and Labour in government is committed to legislating to protect the house-buyer in this county from such behaviour from auctioneers and estate agents.
I find it truly unbelievable that estate agents are considering increasing their commission rates for property sales in anticipation of a slow down in house prices. At no stage over the last decade had estate agents in Mayo considering lowering their rates despite them making massive profits on the back of the property boom all over the country.
The Institute of Professional Auctioneers and Valuers met this morning (Monday, 5th) to consider increasing their rates by up to 33% due to a slowdown in the housing market. This will mean house-buyers in Mayo who already have to pay record prices, forking out an average €1,750 extra for house sales. Yet it is auctioneers and estate agents who have done very well over the last decade. They made massive amounts of money from their commission rates, yet never offered to lower these to make life easier for buyers forced to pay record prices for even the most modest properties.
Once again, this move underlines the need for new legislation to regulate auctioneers and estate agents. Indeed many auctioneers and estate agents have themselves sought increased regulation.
Throughout the recent property boom Labour has made numerous proposals at various different times for new legislation to: 1) Outlaw price gazumping 2)Ensure housing estates are properly completed: there are 33 such estates in Castlebar alone. 3) egulate auctioneers and estate agents 4) Give homebuyers increased consumer protection
On each occasion the Government has shot down these proposals. In doing so they have exposed home buyers in Mayo and all over to exploitation and rip-off in the housing market. While the market may be slowing down to some extent, this is not a reason for such sharp practice to continue and Labour in government is committed to legislating to protect the house-buyer in this county from such behaviour from auctioneers and estate agents.
m:087 9713268
w: http://harrybarrett.blogspot.com
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