The Minister for Justice, Equality and Law Reform, Deputy Brian Lenihan, has also opened the new head office of the Property Services Regulatory Authority as he launched the new regulations.

“I strongly believe that both consumers and the property services sector will benefit from the new structures and standards that are being put in place. I am convinced that the sound regulatory environment now being put in place will increase public confidence in the sector for the benefit both of property services providers and the consumers of those services,” he said.

The code identifies the key principles and values, which should guide property services providers in their daily business and provides for a complaints procedure and a disciplinary board.

All licensed auctioneers and estate agents are being invited to subscribe to the code, which is currently voluntary.

The Public Register of Licensed Auctioneers and Estate Agents will initially include details of the names, addresses and trading names of all licensed auctioneers and estate agents.

The Code of Practice and Public Register of Licensed Auctioneers and Estate Agents can be accessed on the National Property Services Regulatory Authority website at www.npsra.ie.

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