The Property Services (Regulation) Act 2011 has been signed into
law and awaits the making of the necessary commencement orders.
The purpose of the Act is to give effect to recommendations set
out in the Report of the Auctioneering/Estate Agency Review Group.
The existing District Court based licensing system for auctioneers
and house agents will be transferred to the Property Services
Regulatory Authority. Licensing requirements will be extended to
cover property management agents. The new Authority will also be
given comprehensive investigative and enforcement functions and
will be responsible for establishing and administering the new
Property Services Compensation Fund.
The Authority will also be given power to enforce standards in
relation to the provision of property services. This will include
the terms of building contracts, the contents of advertisements for
the sale or letting of land and the standards for the measurement
of land offered for sale or
